The plea of womanhood raised by noted criminal lawyer Ram Jethmalani could not cut ice with a Delhi Court which today rejected the bail plea of DMK MP Kanimozhi saying that gender cannot be considered as a ground for relief in the 2G spectrum case.Sex is one of the grounds which may be considered at the time of grant of bail. However, considering the magnitude of the crime and the allegations against her, I am unable to show any consideration to her on this ground, special CBI Judge O P Saini said.
10 driving training schools with an estimated cost of Rs. 140 crores are proposed to be set up during the 11th Five year plan under a new comprehensive scheme of the Ministry of Road Transport & Highways. So far, sanction has been accorded by the Ministry for setting up of 6 such institutes in states namely Himachal Pradesh, Madhya Pradesh, Rajasthan, Maharashtra, Gujarat and Haryana. One more Institute of driving training and research for Tamil Nadu has also been approved. The Ministry is also in process of sanctioning 3 more institutes in the current financial year.
On 6th October, 2010, all the above-mentioned 13 members of the Karnataka Legislative Assembly, belonging to the Bharatiya Janata Party, hereinafter referred to as the “MLAs”, wrote identical letters to the Governor of the State indicating that they had been elected as MLAs on Bharatiya Janata Party tickets, but had become disillusioned with the functioning […]
HLS India Ltd. (2011) 11 taxmann.com 83 (Delhi) – The wireline logging and perforation services provided to oil companies amount to manufacturing and production of article or thing and therefore provider of such services will be regarded as industrial undertaking for the purposes of section 32A, 80-IA and 80-IB. The wireline logging and perforation equipment employed by taxpayer is eligible for 100% depreciation even though the service provider is not itself producing any oil nor is engaged in the activity of oil drilling.
Videocon Industries Limited Vs- Union of India and Anr – Supreme Court of India rejects petition under Section 9 of Arbitration & Conciliation Act, 1996 holding that application of Part I of the Act has been excluded. The judgment is indeed another good sign in the line of progressive and positive decisions in cases of international commercial arbitration. It comes soon after the Dozco Case and holds that when the substantive law of the arbitration agreement is a foreign law as selected by the parties, it necessarily implies that the parties had agreed to exclude the provisions of Part I of the Act. This judgment too, like the Dosco Case comes as another positive decision portraying the changing outlook of Indian judiciary towards international arbitrations.
The Delhi bench of the Income-tax Appellate Tribunal recently pronounced its ruling in the case of Haworth (India) Private Limited v. DCITwherein it upheld Revenue’s contention that arm’s length price can be determined under transactional net margin method even with one comparable company. Besides, the decision also deals with several other important aspects of the manner of application of TNMM, viz. method of making adjustments to the results, use of current year data, benefit of +/- 5% range and functional comparability.
Presently, ROC issues a number of certificates and standard letters physically, under the manual signature. Such certificates and standard letters would now be issued with digital signature of ROC. The digital certificates are expected to be available for issue by 30 June 2011, in a phased manner.
Competition Commission of India (CCI) has on 11 May 2011 issued the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (Combination Regulations) which deals with merger and acquisitions in India. The Combination Regulations shall come into force on 1 June 2011. Combination Regulations deals with procedural aspects related to notification of Combination under the Competition Act, 2002 (Competition Act), exemptions and pre-merger notification process.
MCA has permitted use of video conference facility for Board / Committee meetings subject to following conditions: 1. The facility shall be capable of allowing all participants to communicate concurrently with each other without any intermediary; Every director must attend at least one Board / Committee meeting personally in each financial year; 2. Notice of Meeting should provide for the availability of the facility and necessary information to access the same;
MCA has permitted the use of video conference facility for shareholders’ meeting subject to following conditions: The facility shall be capable of allowing all participants to communicate concurrently with each other without any intermediary; Notice of Meeting should provide for the availability of the facility and necessary information to access the same; The requirement of Chairman and members being personally present would continue; Chairman and Secretary are responsible for integrity, proper functioning of the meeting and ensure participation by the shareholder himself / proxy (i.e. no other person except shareholder / proxy can attend such meeting);
