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NI Act: No liability of Directors if No Offence is Attributed to Company

May 17, 2022 5301 Views 0 comment Print

Hari Shamsher Kaushik Vs Jasbir Singh, Managing Director, M/S Accura Care Pharmaceuticals Pvt. Ltd. (Delhi High Court) Petitioner submitted that the learned Trial Court dismissed the complaint observing that since the company had not been impleaded as an accused, the liability of the respondent as its Managing Director could not be attached under section 141 […]

SC refers Doctrine of Group of Companies to Larger Bench for relook

May 17, 2022 2766 Views 0 comment Print

Cox And Kings Limited Vs Sap India Private Limited (Supreme Court of India) Supreme Court referred following aspects of application of doctrine of ‘Group of Companies’, which is mostly utilised to bind non-signatories to an Arbitration Agreement, to a larger Bench for relook- A. Whether the Group of Companies Doctrine should be read into Section 8 of the Act or whether […]

NOC not Mandatory for Registering Sale of Fragmented Land: Bombay HC

May 17, 2022 3564 Views 0 comment Print

Govind Ramling Solpure Vs State of Maharashtra (Bombay High Court, Aurangabad Bench) The questions that arise for consideration of this Court is, (i) whether Rule 44(1)(i) of the Rules is in conflict with sections 34 and 35 of the Registration Act, 1908 or not, (ii) whether the impugned circular dated 12.7.2021 issued by the respondent […]

Computer Software entitled to 60% depreciation

May 17, 2022 32907 Views 0 comment Print

Part B of New Appendix I is a general entry whereas Entry 5 of Part A of New Appendix I is a specific entry read with Note 7. Tribunal held that assessee is eligible to claim depreciation at 60% of Computer Software.

Income Tax education cess is not allowable as deduction

May 17, 2022 6603 Views 0 comment Print

Education cess is an additional surcharge levied on income tax and hence it partakes the character of income tax and is not allowable as deduction.

Section 14 SARFAESI Act: Adjudicatory Powers not vested with District Magistrate

May 17, 2022 29466 Views 0 comment Print

Bajaj Finance Ltd. Vs LD. District Collector (Gujarat High Court) On perusal of the section 26E and Section 14 of the SARFAESI Act, it is clear that the District Magistrate has to discharge the ministerial act of providing assistance to the secured creditor to take physical possession of the secured assets when the secured creditor has […]

Petitioner cannot reduce contract period Retrospectively after extending Contract

May 17, 2022 2502 Views 0 comment Print

North Delhi Municipal Corporation Vs IJM Corporation Berhad (Delhi High Court) Delhi High Court held that when Petitioner has granted the contractor an extension of time for a specified period, it cannot turn around to contend that the extension was mere provisional and it’s allowed to reassess or reduce the amount of days by which […]

HC dismisses PIL filed on the basis of mere social media news

May 17, 2022 717 Views 0 comment Print

Thampi V. S. Vs State of Kerala (Kerala High Court) Petitioner, approached this Court with an allegation that respondents are attempting or devising to vaccinate every child in Kerala, irrespective of whether their parents give consent to it or otherwise. It is pertinent that not a single specific incident or instance has been impelled by […]

Govt appoints 12 Non Official Member in APEDA Authority

May 17, 2022 1326 Views 0 comment Print

 Central Government hereby appoints the Twelve Non Official Member of the Agricultural and Processed Food Products Export Development Authority (APEDA ) for a period of two years. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) NOTIFICATION New Delhi, the 17th May, 2022 S.O. 2272(E).—In exercise of the powers conferred by sub-section (4) of section 4 […]

SEBI Master Circular for Commodity Derivatives Market

May 17, 2022 2190 Views 0 comment Print

In order to ensure availability of comprehensive information mentioned in the circulars at one place, SEBI has been releasing Master Circular by compiling all the circulars issued by the department till the date of Master circular.

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