Director removal requires complete adherence to Section 169 procedures. Any procedural lapse can render the removal invalid and expose the company to litigation.
ITAT Pune held that reopening of assessment under section 148 of the Income Tax Act based on audit objection is merely change of opinion and the same is impermissible in law. Accordingly, notice issued u/s. 148 is not valid and is liable to be quashed.
Indian law permits enforcement of foreign arbitral awards unless specific exceptions apply. Courts now favour enforcement with minimal interference.
RBI proposes a revamped Business Correspondent framework with clearer classifications and simplified norms. The draft aims to enhance financial inclusion and improve service delivery in rural areas.
The article highlights the need for integrated travel and health insurance to manage both medical emergencies and trip disruptions abroad. It explains how combined coverage simplifies claims and support.
The Tribunal held that additions based on presumptions without evidence cannot be sustained fully. It reduced the addition on unexplained cash deposits from 10% to 5%, granting relief to the assessee.
The Court ruled that inability to understand a judicial order cannot justify prolonged delay in filing a petition. It reinforces that litigants must act within a reasonable time and provide valid explanations.
The amendment allows financial creditors to directly initiate insolvency with prior approvals, reducing delays. It ensures faster resolution and greater creditor control in insolvency proceedings.
The government has notified Panoli in Gujarat as a customs area for import and export operations. The amendment expands logistics capabilities and strengthens regional trade infrastructure under the Customs Act, 1962.
The study found that most MSME insolvency cases are resolved before admission, highlighting gaps in data and process efficiency. It recommends reforms to improve transparency, recovery, and early settlements.
