Event and Entertainment Management Association versus Union Of India & Ors. (Delhi High Court)- Delhi HC has dismissed the petition seeking a direction to the Union of India, Ministry of Human Resource Development, to frame objective standards for determination and levying of royalties of various copyrighted works administered by Phonographic Performance Ltd and the Indian Performing Right Society Ltd and the mode of enforcing and administering such royalties. The association had also sought a further direction for investigation of the books of account of the two copyright societies to ascertain whether they have paid their dues to the owners/authors of copyrights. The association alleged that the government has failed to set down any objective standards and criteria for charging of royalties by the two societies, and the latter are therefore acting arbitrarily in fixing tariffs. The high court rejected the prayers stating that the fixation of tariff or royalties by the two companies in exercise of their powers under the Copyright Act is not arbitrary or unreasonable. The judgment explained that the law itself provided a mechanism for fixing tariffs and the matter can be dealt with by the copyright board.
The Competition Commission of India (CCI) today imposed a penalty of Rs one lakh each on 27 film producers on charges of colluding through a cartel to exploit theatre owners. The CCI imposed the fine on filmmakers after having found them guilty of entering into anti-competitive agreement.
Concerned over subscribers facing problems in exercising Mobile Number Portability service, Trai has asked operators not to reject a request if the amount outstandings are less than Rs 10. Telecom regulator Trai’s directive came in the wake of telecom operators rejecting the request of subscribers for porting on the ground of “contractual obligation” and “outstanding payment dues” under mobile number portability (MNP).
The Madhya Pradesh government has come under the scanner of Lokayukta for allegedly organising a free dinner for about 250 serving IAS officers with taxpayers’ money. Official sources said about Rs 1.5 lakh was allegedly routed from the exchequer’s account to foot the bill of the dinner hosted late last year by State Chief Secretary Avani Vaish for IAS officers, most of them serving in MP, at a private club here.
Yielding under pressure, Mauritius has for the first time provided banking information about a person being investigated by the Income Tax Department (ITD) for tax evasion and money laundering. They (Mauritius) have given information related to a person being probed by ITD who had remitted funds from that country to India, an official told PTI.
Competition watchdog CCI on Wesdnesday pronounced the National Stock Exchange (NSE) guilty of abusing its dominant market position by adopting unfair trade practices in connection with currency derivatives trading. However, the quantum of fine to be levied on NSE is yet to be ascertained. “The Commission has pronounced NSE guilty of violating section 4 of the Competition Act, 2002. But it will decide on the quantum of fine only after hearing NSE. We have given them a week’s time to respond to our show cause notice,” an official told PTI.
The government could miss the revenue collection targets during 2011-12 mainly on account of high inflation and moderating economic growth, a senior Finance Ministry official said here on Tuesday. Inflation can affect domestic demand and thereby adversely affect GDP growth… and consequently our tax collection, Revenue Secretary Mr Sunil Mitra said while speaking at the annual conference of chief commissioners and directors general of income tax.
Asia’s oldest bourse, the Bombay Stock Exchange (BSE), today said it has been granted an ‘in-principle’ approval by the capital market watchdog Sebi to launch an exchange exclusively for small and medium enterprises (SMEs). BSE today received an ‘in-principle’ approval. The BSE is now gearing up for its latest venture in an emerging market segment, a release issued by the BSE said.
Policy Circular No. 31 (RE-2011) /2009-14 Dated the, 25th May, 2011 – Sub:- File applications for 24 SEZ ports codes – reg. – Director General (Systems) have accorded SEZ port codes to the following 24 SEZs which have been uploaded on DGFT’s website:-
Acting on a specific intelligence, officers of DRI, Guwahati Regional Unit under Kolkata Zonal Unit with the assistance of city police effected a seizure of 115 packets of cannabis weighing 2344.40 kg. valued at Rs. 70.33 lakh from a truck bearing registration no. WB-25B-4384 on 21.05.2011 at Jalukbari police point, Guwahati, Assam. The packets of cannabis, recovered from the truck were kept concealed under 410 bags (12,557.00 kg.) of tea valued at Rs. 12, 55,700/-. The 2344.40 kg of cannabis, 12,557.00 kg. of tea and the carrier truck were seized in terms of the provisions of the NDPS Act, 1985. Total seizure value of the case is Rs. 86.89 lakh. The driver and the helper of the carrier vehicle were arrested. Further investigation is in progress.
