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Archive: 11 January 2023

Posts in 11 January 2023

An overview of the Indian banking system and its evolution

January 11, 2023 21276 Views 0 comment Print

The Indian banking system is one of the most complex and largest in the world, with more than 96,000 branches and 100 scheduled commercial banks. An overview of the evolution of the Indian banking system and its role in economic growth.

Understanding Relation between ‘buy-back’ & ‘open offer’ through case study of Ajanta Pharma Ltd and Gabs Investment Pvt Ltd.

January 11, 2023 1383 Views 0 comment Print

The Indian market has been able to adapt to the world economy through globalisation, liberalisation and privatisation. While the goal of each Company in the end is to maximise its profits and be successful in its field, that may not be possible due to all the different market forces present. In order to safeguard its interest, corporate restructuring is prevalent.

Order not valid if notice in Part A of FORM GST DRC-01A was not issued

January 11, 2023 5175 Views 0 comment Print

Admittedly for initiation of proceedings against the petitioner a notice as provided for under Rule 142(1A) of the Rules in Part A of FORM GST DRC-01A was not issued, which provided for communication of details of any tax, interest and penalties as ascertained by the officer.

SC ruling on meaning of diversification for exemption under UP Trade tax act

January 11, 2023 597 Views 0 comment Print

Supreme Court of India in this case was considering the meaning of the term diversification when the appellant in this case set up machinery for manufacture of Double LIP DRY BLEND CROWN CORK as against SPUN LINE CROWN CORK which was being manufactured earlier and contended that it was diversification to be eligible for exemption.

Supreme Court on Overlap of Jurisdiction between Securities Law & Company Law

January 11, 2023 2568 Views 0 comment Print

This is a landmark judgement with reference to overlapping jurisdictions of regulators and adjudicatory forums. This judgement alone, lays a foundation stone to avoid further disputes in events of aggrieved party approaching a forum where a favourable or faster relief can be obtained rather than approaching the appropriate forum.

Allowing stock exchanges to launch multiple contracts on same commodity in derivatives segment

January 11, 2023 339 Views 0 comment Print

Stock exchanges have represented to SEBI that due to requirement of single contract on a particular commodity, except for gold, silver and precious metals, the participation of investors, especially in metal contracts, is limited. Stock exchanges have expressed their desire to launch multiple contracts on same commodity to cater to all value chain participants.

TRQ holders under India-UAE CEPA to be deemed as Qualified Jewellers for import of UAEGD Gold through IIBX

January 11, 2023 2085 Views 0 comment Print

Tariff Rate Quota (TRQ) holders under the India-UAE CEPA to be deemed as Qualified Jewellers for import of UAEGD Gold through IIBX

Discontinuation of Tariff Rate Quota for Import of Crude Soya bean Oil w.e.f. 01.04.2023

January 11, 2023 681 Views 0 comment Print

Last date of Import of Crude Soya Bean Oil under TRQ has been revised to 31.03.2023. Further, no allocation of TRQs for import of Crude Soya bean Oil shall be made for Financial Year 2023-24.

Food Safety and Standards (Food Products Standards and Food Additives) First Amendment Regulations, 2023

January 11, 2023 1965 Views 0 comment Print

These regulations may be called the Food Safety and Standards (Food Products Standards and Food Additives) First Amendment Regulations, 2023. They shall come into force on 1st August, 2023,

Enhancement of sentence based on statement of acquitted co-accused unjustified

January 11, 2023 1074 Views 0 comment Print

Punjab & Haryana High Court held that as the initial recovery against the co-accused stands acquitted, enhancement of sentence of the petitioner who was nominated on their statements becomes unsustainable in law.

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