(i) Mr. J entered into an agreement with Mr. S to purchase his house for ₹20 lakh, within three months. He also paid ₹50,000/- as token money. In the meanwhile, in an anti-encroachment drive of the local administration, Mr. S's house was demolished. When Mr. J was informed about the incident he asked for the refund of token money. Referring to the relevant provisions of the Indian Contract Act, 1872 state whether Mr. J is entitled to the refund of the amount paid. (ii) Rama directs Shyam to sell laptops for him and agrees to give Shyam eleven percent (11%) commission on the sale price fixed by Rama for each laptop. As Government of India put restrictions on import of Laptops, Rama thought that the prices of laptops might go up in near future and he revokes Shyam's authority for any further sale. Shyam, before receiving the letter at his end sold 5 laptops at the price fixed by Rama. Shyam asked for 11% commission on the sale of 5 Laptops for ₹ 1 lakh each. Explain under the provisions of the Indian Contract Act, 1872: (1) Whether sale of laptops after revoking Shyam's authority is binding on Rama? (2) Whether Shyam will be able to recover his commission from Rama, if yes, what will be the amount of such commission?

A promissory note, payable at a certain period after sight, must be presented to the maker thereof for payment. Under which scenarios presentment for payment is not necessary and the instrument is dishonoured at the due date for presentment according to the provisions of the Negotiable Instrument Act. 1881?

Describe in brief about the following Regulatory bodies of the Government of India: - (i) Securities and Exchange Board of India (ii) Reserve Bank of India (iii) Insolvency and Bankruptcy Board of India