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Archive: 06 April 2022

Posts in 06 April 2022

Any Change in Terms & Conditions of Insurance Should be Intimated to Insured at the Time of Renewal: SC

April 6, 2022 4599 Views 0 comment Print

An insurance company has obligation and duty to intimate the insured at the time of renewal of exiting insurance polices ,if there is any change in the terms and conditions of insurance. It is generally assumed that renewal of an insurance policy will be held on the basis of terms and conditions contains in the old insurance policy and there is no change.

Hassle in submission of form to avail the benefit of Interest Equalisation scheme on DGFT portal

April 6, 2022 3408 Views 0 comment Print

DGFT vide Trade Notice no. 38 dated 15th March, 2022 have asked exporters to provide following information to claim benefit under Interest Equalisation Scheme. 1. Export Order Value in INR and USD. 2. Tenure of Loan (In months) and Amount of Loan. 3. Amount of Interest Reimbursement Equalisation Claimed. 4. ITC (HS) Code and Product […]

MSME FORM I – October 2021 – March 2022 – Due Date 30th April

April 6, 2022 35826 Views 0 comment Print

MSME FORM I For the period of October 2021 –March 2022 MSME FORM-I is required to be filed pursuant to Order dated 22 January, 2019 issued under Section 405 of the Companies Act, 2013 and which are reproduced for your reference: Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019, […]

Pradhan Mantri Jan Dhan Yojana

April 6, 2022 1677 Views 0 comment Print

On 15th August 2014, the Prime Minister of India, Shri Narendra Modi, announced Pradhan Mantri Jan Dhan Yojana, in his first Independence Day speech. The Pradhan Mantri Jan Dhan Yojana was, later on, launched on 28th August 2014. The Yojana is a national mission launched with an aim to widely provide easy access to various […]

No violation if IRP allowed higher interest rate as per RERA Court order

April 6, 2022 2121 Views 0 comment Print

The DC notes the submission of Mr. Singal that admission of higher interest was not possible if claims were continued to be classified under FC in class category and since in RERA decree, the Hon’ble Court has allowed interest ranging from 8-18% and, therefore, he had no option but to allow them interest as per […]

IBBI suspends registration of Registered Valuer Entity for disqualification of its director

April 6, 2022 1008 Views 0 comment Print

In the instant matter, the Authority notes that the limited issue for consideration before it is whether suspension of one of the directors of the Yardi Prabhu Consultants & Valuers Pvt. Ltd., Registered Valuer Entity (RV-E) affects the eligibility of the valuer for continuing as RV. In this regard, the Authority notes that as per […]

UIDAI cancel more than 4.75 lakh Aadhaars for being duplicate

April 6, 2022 3042 Views 0 comment Print

Uniqueness of identity of the Applicant, established through a de-duplication process is the most important feature of Aadhaar. It was seen that UIDAI had to cancel more than 4.75 lakh Aadhaars (November 2019) for being duplicate. There were instances of issue of Aadhaars with the same biometric data to different residents indicating flaws in the de-duplication process and issue of Aadhaars on faulty biometrics and documents.

Nomination by pensioners under Payment of Arrears of Pension (Nomination) Rules, 1983

April 6, 2022 2226 Views 0 comment Print

References/representations have been received in this Department mentioning that Pension of deceased pensioners is not often revised based on recommendation of Pay Commission etc and arrears of pension in respect of deceased pensioner are not paid by the Pension Disbursing Bank to the nominee.

No detention of Goods in the course of transport on the ground of undervaluation

April 6, 2022 6537 Views 0 comment Print

All concerned are hereby directed not to detain or issue any Show Cause Notice to the goods under transport or stored in parcel agencies, raising the sole reason for undervaluation of the goods compared to the Maximum Retail Price (MRP).

Liquidation of Corporate Debtor not possible on reason that liquidation value is more than the enterprise value

April 6, 2022 1650 Views 0 comment Print

In re Ramsarup Industries Limited (NCLT Kolkata) Facts- Ramsarup Industries Limited (Corporate Debtor/Corporate Applicant) had approached the Adjudicating Authority of NCLT u/s 10 of the IBC and was admitted to Corporate Insolvency Resolution Process (‘CIRP’) on 08.01.2018. The common order dated 07.04.2022 has been passed by the NCLT Bench while deciding three interim applications together […]

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