Hon’ble Supreme Court in the case of Vishwa Mitter v. O.P. Poddar – (1983) 4 SCC 701, has, inter alia, held that if any special statute prescribes offences and makes any special provision for taking cognizance of such offences under the statute, then the complainant requesting the Magistrate to take cognizance of the offence must satisfy the eligibility criterion prescribed by the Statute
Hon’ble Supreme Court in Afcons Infrastructure Ltd. & Anr. Vs. Cherian Varkey Construction Co. (P) Ltd. & Ors. {(2010) 8 SCC 24; Decided on 26.07.2010} held as follows in para 13.5 and 16 respectively. A classic example of correcting an error committed by the draftsman in legislative drafting is the substitution of the words `defendant’s witnesses’ by this Court for the words `plaintiff’s witnesses’ occurring in Order VII Rule 14(4) of the Code, in Salem Bar-II {Salem Advocate Bar Assn. II Vs. UOI (2005 6 SCC 344)}.
Before declaring NPAs, Bankers have numerous duties to perform including rehabilitation not only once but multiple times – Important Information for Borrowers and their advocates. Our Associate and Banking Expert has drawn attention to the following important RBI Guidelines and circulars which will be highly useful to Borrowers and their Advocates. These need to be studied and important aspects included in the ‘Representation and Objections’ to notice u/s 13 of the Securitisation Act as well as in the application u/s 17 of the said Act:-
As we know the Hon’ble Punjab & Haryana High Court has already stayed the levy of entry tax in Punjab in the case of M/s Bhushan Steel v State of Punjab case on 28-03-2011 and also in other similar writ petitions challenging the levy of entry tax in Punjab on 08-04-2011. But the interim stay were applicable only to the persons who have filed writ petitions and the relief regarding deferment from payment of entry tax was available only to the concerned persons who have filed writ petitions in the High court as a result it was giving rise to filing of more and more writ petitions on the similar issue resulting in multiplicity of litigation in the High Court.
Notification No. 44 (RE-2010)/2009-2014 – Central Government hereby makes, with immediate effect, the following amendment in Notification No. 27(RE-2010)/2009-2014 dated 28.02.2011 read with Notification No. 33(RE-2007)/2004-2009, dated 08.10.2007 . In notification number 33(RE 2007) 2004-09 dated 8.10.2007, a new sub para was added on 28.2.2011 by notification number 27 (RE-2010)/2009-2014. The contents of this sub para 2.11 is now substituted to read as under: 2.11 The prohibition imposed by Notification No. 33(RE-2007)/2004-2009, dated 08.10.2007 on export of wheat shall not be applicable to export of 2,50,000 MT of wheat to Afghanistan through Food Corporation of India.
Union Finance Minister Shri Pranab Mukherjee will call on Vietnamese Prime Minister during his two days visit to Hanoi, Vietnam beginning tomorrow i.e. 3rd May, 2011. Finance Minister Shri Mukherjee is visiting Hanoi in order to attend 44th Board of Governors’ Annual Meet of Asian Development Bank (ADB). Shri Mukherjee will leave tomorrow afternoon and will return on the night of 5th May, 2011. During his bilateral meeting with Vietnamese Prime Minister , both the leaders are likely to discuss matters of mutual interest .India has granted Market Economy.
(7A) in cases where the Government of India enters into agreements or treaties with other sovereign Governments and where such agreements or treaties specifically recognize certain entities to be distinct and separate, the Board may, during the validity of such agreements or treaties, recognize them as such, subject to conditions as may be specified by it.
No.F.10/9/2008-IR Dated April 26, 2011 Right to Information (Regulation of Fee and Cost) Rules, 2005 provide that a person seeking information under the RTI Act. 2005 can make payment of fee for obtaining information by cash or demand draft or banker’s cheque or Indian Postal Order. It has been brought to the notice of this Deportment that some pubic authorities do not accept fee through the Indian Postal Orders.
Inflation is expected come down to 7.78 per cent this month on the back of a good monsoon and an increase in the area under rabi crops, the Institute of Economic Growth said in a report. In June, inflation is likely to further come down to 7.38 per cent, it said. Headline inflation for March stood at 8.98 per cent. Inflation in the country has been above 8 per cent since February, 2010.
Service tax on Restaurant Service and Short term accommodation Service. Restaurant Service has been made taxable to service tax w.e.f. 1st May 2011. This levy is covered by section 65(105)(zzzzv) read with notification No. 1/2006-Service Tax, dated the 1st March, 2006, as amended by Notification No.34/2011 – Service Tax 25th April, 2011. The scope of the service is defined as services provided to any person, by a restaurant, by whatever name called, having facility of air-conditioning in any part of the establishment, at any time during the financial year, which have license to serve alcoholic beverages, in relation to serving of food or beverages, including alcoholic beverages or both, in its premises.
