Examine the recent NCLAT Delhi verdict in the UTI Employees Sai Samruddhi Cooperative Housing Society Vs PNB Housing Finance Ltd. & Ors. case, emphasizing the significance of allowing objections in resolution plans.
Read the latest SEBI Master Circular (SEBI/HO/CFD/POD-2/P/CIR/2023/93) dated June 20, 2023, providing detailed requirements for listed entities regarding schemes of arrangement and relaxation rules under sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957.
ITAT Hyderabad order, wherein Mohammed Rahimuddin successfully appeals the penalty u/s 271A due to estimation-based income addition.
Tribunal reiterated that excise duty is a tax on the manufacture, not on the profits made by a dealer on transportation. Thus, the surplus freight charges collected from customers were excluded from the assessable value for excise duty calculation.
ITAT Amritsar’s ruling in Antony Madassery Vs DCIT case, discussing improper procedure in issuing income tax notices and deletion of penalties under sections 271(1)(b) and 272A(1)(b).
Madras High Courts decision to grant PRM Constructions a three-week extension to file a statutory appeal against Assistant Commissioner of GST & Central Excise, despite expiry of statutory limitation.
DGFT, has issued a notification, No. 12/2023, dated June 19, 2023, amending Paragraph 10.08(ix) of the Foreign Trade Policy 2023. The amendment pertains to the General Authorization for Export of Chemicals and related Equipments (GAEC) and introduces changes to the policy.
Read the final order issued by the Securities and Exchange Board of India (SEBI) regarding the falsification and misstatement of financial statements by Arvind Remedies Limited. The order includes background information, findings, and directions issued to the involved parties.
Major crackdown on a fake invoicing racket in scraps trade. DGGI, Coimbatore, arrested mastermind for issuing fake invoices worth Rs.97.87 crores and availing fake ITC of Rs.13 crores.
IBBI Disciplinary Committee found that Mr. C. Ramasubramaniam contravened provisions of IBC and related regulations. Firstly, he failed to file an extension application within the prescribed timeframe after the expiry of the liquidation period. This neglect in fulfilling his duty as a Liquidator demonstrates gross negligence and dereliction of responsibilities. Secondly, Mr. Ramasubramaniam accepted an […]
