"08 March 2017" Archive

Under RTI PIO not supposed to create info that is not part of record

Mr. Subrata Guha Ray Vs. CPIO (Central Information Commission)

Commission observed that under the provisions of the RTI Act, 2005, only such information as is available and existing and held by the public authority or is under control of the public authority can be provided. The PIO is not supposed to create information that is not a part of the record. He is also not required to interpret informatio...

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Posted Under: Corporate Law | |

Exclusion of comparables based on Turnover and size filter is valid

M/s. Logitech Engineering & Design India P. Ltd, (erstwhile M/s. Lifesize Communication P. Ltd) Vs. Deputy Commissioner of Income-tax (ITAT Bengaluru)

Bombay High Court decision upheld the DRP order in excluding 6 companies, from the list of comparables chosen by the TPO, on the basis of turnover and size. Following it , we uphold the DRP order in excluding the above 6 companies, from the list of comparables chosen by the TPO, on the basis of turnover and size. ...

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Last date of Digital Life Certificate submission extended to 31.03.2017

Last date of submission of Digital Life Certificate through Jeevan Pramaan Patra extended upto 31st March 2017. EPF & MP Act, 1952 made applicable to all staff employed in ECHS on contractual basis. A single page composite claim form in death cases replaces Form 20, form 5-IF and Form 10-D...

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Posted Under: Corporate Law |

A person other than member or creditor can also challenge Company Name striking off

Rishima SA Investments LLC Vs Registrar of Companies, West Bengal & Ors. (Calcutta High Court)

Is a person, not being a member or a creditor or the company itself, entitled to challenge the striking off of the name of the company under Section 560 of the Companies Act, 1956? Does the petitioner have the locus standi to file and maintain the present writ petition?...

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Section 254(2) cannot be applied to seek review of ITAT order

Ganjikunta Kishore Babu (HUF) Vs ITO (ITAT Hyderabad)

By section 254(4) of the IT Act, an order which has been passed by the Tribunal reaches finality the moment the same is passed: it cannot be touched thereafter. By section 254(2) of the act, the Tribunal, however, has been authorized to rectify mistakes in its orders, which are apparent on the face of the records. ...

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CBI Arrests Superintendent of Central Excise in an alleged bribery case

CBI has arrested a Superintendent of Central Excise, Anti-Evasion, Hyderabad-II Commissionerate, Kendriya Shulk Bhavan, Basheerbagh, Hyderabad and a private person in an alleged bribery of Rs. four lakh....

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Posted Under: Corporate Law |

Secondary market liquidity needed to attract retail investor into corporate bond space: SEBI official

Infusing some amount of secondary market liquidity can help attract retail investors to enter the corporate bonds’ space, a top Securities Exchange Board of India (SEBI) official said at an ASSOCHAM event held in New Delhi today....

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Posted Under: Corporate Law |

SEBI (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017

Notification No. SEBI/LAD/NRO/GN/2016-17/037 (06/03/2017)

These Regulations may be called the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017....

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Approach on un-reconciled, unsettled outstanding reinsurance balances as on 31.03.2014

Ref: IRDA/BRK/MISC/CIR/050/03/2017 (08/03/2017)

If the reinsurance/ composite broker has un-reconciled outstanding unsettled clients money lying with them, they shall transfer the same in a separate bank account under intimation to the Authority with full details of the bank account. ...

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Ram Jethmalani cross examined Arun Jaitley in court: Part 1

I put it to you that 'goodwill' is enjoyed even by a crook, who has done some good thing to somebody. What do you have to say? You have used the word 'goodwill' in the letter addressed to Deputy Registrar filed along with the plaint. Are you aware about the difference between goodwill and reputation?...

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Posted Under: Corporate Law | ,
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