Designed to help the candidates appearing the Appendix 3, LDCE, 70% etc of Railway Accounts
Tuesday, October 6, 2020
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Indian Railways - An Over view
- Chairman, Railway Board (CRB) and Chief Executive Officer (CEO)
- Member - Finance (MF)
- Member (T & RS -Traction & Rolling Stock) - M/TRS
- Member (O&BD - Operations & Business Development) - M/O&BD
- Member (Infrastructure) - M/Infra
SN
|
Zonal Railway
|
Headquarters
|
1
|
Northern
|
New Delhi
|
2
|
Southern
|
Chennai
|
3
|
Eastern
|
Kolkata
|
4
|
Western
|
Mumbai
|
5
|
Central
|
Mumbai
|
6
|
North Central
|
Allahabad
|
7
|
South Central
|
Secunderabad
|
8
|
East Central
|
Hazipur
|
9
|
West Central
|
Jabalpur
|
10
|
East Coast
|
Bhubaneswar
|
11
|
North Eastern
|
Gorakhpur
|
12
|
North Western
|
Jaipur
|
13
|
North Frontier
|
Maligaon, Guwahati
|
14
|
South Eastern
|
Kolkata (Garden Reach)
|
15
|
South East Central
|
Bilaspur
|
16
|
South Western
|
Hubli
|
17
|
Kolkata Metro
|
Kolkata
|
SN
|
CTI
|
Location
|
Headed by
|
Dept
|
|
1
|
NAIR
|
National Academy of Indian Railways
|
Vadodara
|
Director General
|
General
for all Depts Personnel, Stores & Medical in particular
|
2
|
IRICEN
|
Indian Railways Institute of Civil Engineering
|
Pune
|
Director
|
Civil Engineering
|
3
|
IRISET
|
Indian Railway Institute of Signal Engineering &
Telecommunications
|
Secunderabad
|
Director
|
S & T
|
4
|
IRIFM
|
Indian Railway Institute of Financial Management
|
Secunderabad
|
Director
|
Accounts
|
5
|
IRIMEE
|
Indian Railway Institute of Mechanical & Electrical Engineering
|
Jamalpur
|
Director
|
Mechanical
|
6
|
IRIEE
|
Indian Railway Institute of Electrical Engineering
|
Nasik
|
Director
|
Electrical
|
7
|
IRITM
|
Indian Railway Institute of Traffic Management
|
Lucknow
|
Director
|
Traffic
|
8
|
JRRPFA
|
Jagjivan Ram Railway Protection Force Academy, Lucknow
|
Lucknow
|
Director
|
Security
|
Friday, October 2, 2020
Novation Agreement
Novation Agreement
What is
Consensual replacement of a contract's party or obligation with a new one.
Transfers the contractual obligations of one party to a third party in a contract.
All parties involved in this type of contract must consent to the changes.
When a third party enters the agreement, it takes the place of the departing party.
Three parties are involved
The transferee
The transferor
The counterparty
General Examples:
Lease - When one tenant signs a lease over to another person, this new tenant is responsible for paying lease charges and is liable for property damage. But with the consent of the Lessor.
Construction industry - A contractor transfers a job to another contractor. But with the consent of the client.
Difference between Novation and Assignment
Novation | Assignment |
Involves 3 parties | Involves Two parties only |
Consent of all parties are compulsory | Doesn’t necessarily require the consent of the third party |
Transfer obligations as well as rights | Transfers rights only. Therefore the original party can actually held responsible if the assignee doesn’t fulfill the contractual performance |
Advantages:
Protect the sellers from future liabilities.
Learning curve
Disadvantages:
Tedious process.
Requires consent of a third party.
Conflict of interest.
Examples in Indian Railways
EBR -IF funded works through IRFC
Standard novation agreement issued by the Railways with the consent of Ministry of Law and Justice.
Tender documents are suitably modified to incorporate the provisions of standard Novation agreement.
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