We are attaching below quick referencer Prepared by Team of B Mathur & Co. Referencer contains updates on Circulars and Notifications related to Companies Act, LLP Act, Excise Duty, Custom Duty, DGFT & SEBI for the period from 04.04.2012 to 30.06.2012. Link to Download the referencer are given below :-

In partial modification of point no. 3.7.1 of Advertisement Guidelines Circular No. 007/IRDA/Cir/Adv/May-07 dated 14th May, 2007 relating to Joint Sale Advertisements, it is decided to permit Insurers to release Joint Sales Advertisements, without prior approval of the Authority, in accordance to the applicable regulations / guidelines in vogue and file the same. However, all the Joint Sale Advertisements filed with the Authority shall continue to carry a certificate from the Appointed Actuary as specified therein. It is also reiterated that a Joint Sale Advertisement is permitted to be issued only with its Corporate Agent or with a Micro Insurance Agent.

Learned counsel for the petitioner-management had also argued that right to transfer an employee is implicit in every contract of service and therefore, the respondent-workman could still be transferred from one office of the petitioner-management to another.

The Ministry has constituted an Expert Group to study the legislative and regulatory architecture of The Societies Registration Act, 1860 governing the functioning of societies in India and also to study the ground situation with respect to the operation of the said Act so as to identify the regulatory gaps and oversight mechanism with a view to formulate a Model Law on the subject. The Expert Group has submitted its report to the Ministry on 5.07.2012 proposing a legislation titled as ‘Multi-state Societies Registration Bill, 2012’. The Report and the proposed Bill has been uploaded for ready access at the website of the Ministry of Corporate Affairs viz. www.mca.gov.in.

a. In the appointment of stockists by way of issue of ‘NOC’ and regulating the number of stockists in contravention of Section 3(3)(b) of the Competition Act, 2002. b. In preventing and restricting the retailers from allowing discounts to the consumers in contravention of Section 3(3)(a) of the Competition Act, 2002. As mentioned earlier a suo motto investigation be initiated into the nexus between associations both horizontal and vertical for as observed most of the practices have evolved over several decades. In fact, association in the pharma industry associations have impacted on several activities along the value chain.

Citizens very often complain about our legal system and as to how the Courts are functioning in this country. People having experience with Courts will explain in detail as to how our system functions. Unless one is a habitual litigant misusing the Court process knowing the ‘loop-wholes’, citizens are afraid to approach Courts in this country and they compromise their rights and entitlements at times rather going Courts. Every one knows the issues of pendency in Courts, often alleged corruption, deficiency in service at times and problems with the technicalities.

A good legal system represents good governance in the Country. We may say that India is a vibrant democracy and we may further proudly say that Indian society reflects ‘Unity in Diversity’. There are critics of democracy and they show caste politics, purchasing votes in elections, leaders looting billions of public money and criminals getting elected in the elections. Whatever may be the achievements of India and the criticism, the fact remains that India is a complex nation and issues are so complex.

After the constitution of Debt Recovery Tribunals (DRT) and Debt Recovery Appellate Tribunals (DRAT) under The Recovery of Debts due to Banks and Financial Institutions Act, 1993 and after conferring the authority to entertain appeals from the aggrieved persons under section 17 of SARFAESI Act, 2002, Banks have gained an upper-hand in the course of recovery of their dues. It is hard to see a Bank now going to Civil Court or facing a Civil Proceeding in-respect of recovery of their dues.

Under the provisions of ‘Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘SARFAESI Act’ in short), the Bank can invoke the process of recovery of money on its own without any adjudicatory process. The Banks can proceed with the enforcement of ‘security’ under the provisions of SARFAESI Act, 2002. If any borrower or any person is aggrieved with the action initiated by the Bank under the provisions of SARFAESI Act, 2002, then, he can approach the Debt Recovery Tribunal (DRT) under section 17 of the Act by paying the prescribed fee.

The Competition Commission of India has found Fast Way Group abusing its dominance in the cable TV service in the territory of Punjab and Chandigarh in violation of the provisions of the Competition Act, 2002. The order was passed pursuant to investigation carried out by the Director General upon information filed by M/s Kansan News Private Limited a broadcaster of a news and current affairs TV channel known as ‘Day and Night News’ and operating in the states of Punjab, Haryana, Himachal Pradesh and Union Territory of Chandigarh.