Bimalkumar Manubhai Savalia Vs Bank of India (NCLAT) Conclusion: Proceedings initiated or pending in DRT, either initiated under SARFAESI or under debts and due to Banks and Financial Institutions could not be taken into account for the purposes of limitation. Therefore, the application filed by Bank before the Adjudicating Authority on 30.08.2018 was beyond the […]
In this article we will be discussing the aforesaid Question, as well as whether NCLT can intervene the commercial wisdom and decision of CoC. We will be discussing various judgments of NCLAT and Supreme Court of India which would be relevant for shedding some light on the aforesaid questions.
Corporate Social Responsibility or commonly referred as CSR (hereinafter known as CSR Committee) is also called Corporate Citizenship or Corporate Responsibility which focuses on social issues, upliftment and its responsibility towards the society by maximizing the company’s positive impact and minimizing the negative impact on its social and physical environment. To look after the stakeholders […]
General Circular No. 07/2020 F. No.713912019-CL-I Government of India Ministry of CorPorate Affairs 5*’ Floor, ‘A’Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated: 05.03.2020 To A1l RDs, All RoC, The Stakeholders. Subject: Extension of the last date of filing of Form NFRA-2 reg. Sir, In continuation of the Ministry’s General Circular No. 14/2019 […]
E-Forms For The Creation, Modification, Satisfaction of Fixed And Floating Charge As Per The Provisions of Companies Act 2013 And Mandatory Attachments (E-Form CHG-1,E-Form CHG-4, E-Form CHG-6, E-Form CHG-6). E-Form CHG-1– Application for registration of creation, modification of charge (other than those related to debentures) E-Form CHG-1 is required to be filed pursuant to Section […]
(a) The scrip is a penny stock, purchased at a low price, which is over a period of time ramped up by operators acting in benami names or name lenders. The purchases are off market purchases, and not reported on the exchange; (b) purchase/s is back dated, i.e., per a back dated contract note, paid for in cash, so that there is no trail; (c) the purchases are in the physical form, and dematerialized only subsequently; generally long after the purchase date, being back dated and, further, close to the date of sale; and (d) The investee is a penny stock company, with no credentials, and the sale rates artificially hiked, with no real buyers, so that inference of the sales being bogus, is unmistakable.
NMC Industries Pvt Ltd Vs Commissioner of Service Tax (CESTAT Mumbai) We are unable to comprehend the resort to Railways Act, 1989 for a broader understanding of expression ‘railways’ in the absence of permissible referral in section 65(105)(zzzza) or (zzp), or, for that matter, anywhere in section 65, of Finance Act, 1994. In the absence […]
Sofina S. A. Vs ACIT (ITAT Mumbai) Transfer of shares of Singapore Company could not be regarded as a transfer of shares of its Indian subsidiary in absence of see-through approach under clause 13(5) of India Belgium Treaty Conclusion: Gain arising from transfer of shares of A Pte. Ltd., Singapore by the assessee to M/s […]
Sponsorship and endorsement expenses paid by Adidas India to various athletes and players in India were not includable in the assessable value of the goods imported by Adidas India by invoking rule 10(1)(e) of the Customs Valuation (Determination of Value of Imported Goods) Rules 2007.
The impugned order rejecting such appeal on the ground of limitation is not sustainable as the petitioner cannot be penalised for lack of clarity of the provision when the new law is enacted.
