IRDA, Insurance , Corporate Law Articles, Notification, News and Circular

If in the sale it becomes reasonably necessary for the manufacturer of adaptable goods, to refer to the trademark of the relatable goods, such reference would not amount to an infringement of the trademark under which the relatable goods are sold, but has misapplied the evidence on record. The error committed is by proceeding upon the premise that the evidence establishes that the respondent manufactures gaskets specifically for the special sizes of pressure cookers manu.. Full Article

The Court held that even if the defendant genuinely intended using the mark only to describe the aroma of the products, it would make no difference if the use of the mark is likely to be taken as a use as a trademark. The use of a registered trademark would constitute an infringement if it indicates a connection in the course of trade between the person and his goods. Full Article

EPFO is reportedly planning to provide portable numbers to salaried individuals. The move might stem the trend of premature withdrawal which most people prefer over getting their accounts transferred while switching jobs. Full Article

The Supreme Court has enhanced the compensation to the widow and dependents of a person who was killed in a road accident, ruling that the future earning capacity of the deceased should also be taken into account while calculating the loss of income to the family. In this case, Santosh Devi vs National Insurance Company Ltd, the deceased person was running a milk dairy. Full Article

The Ministry of Corporate Affairs has set up a Committee to develop the roadmap for future implementation of Extensible Business Reporting Language (XBRL). This Committee comprises of XBRL experts and representatives from the corporate sector as well as the Institute of Chartered Accountants of India (ICAI). The terms of reference of the Committee are as under: Full Article

Insurance Regulatory and Development Authority (Salary and Allowance payable to and other Terms and Conditions of Services of Chairperson and other members) Amendment Rules, 2012- Amendment in rule 3 Notification No. G.S.R. No.307(E), dated 19-4-2012 Full Article

Ending hassles of employers in payment of EPF subscription of employees, the government today started an electronic mechanism that promises to bring transparency and accessibility. The initiative, launched by Labour and Employment Minister Mallikarjun Kharge, offers an opportunity to employers to file their returns online from anywhere and anytime. Full Article

Banks used to take advantage of the provisions of SARFAESI Act, 2002 earlier in taking possession of the ‘secured asset’ even when the tenant was in possession of the property. Absolutely, there is no difficulty in taking the possession of the ‘secured asset’ using the protection and assistance under Section 14 of the Act if the property was actually in possession of the borrower or the guarantor. Full Article