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Introduction of Special Situation Funds as a sub-category under Category I AIFs

January 27, 2022 1086 Views 0 comment Print

(a) Each scheme of SSF shall have a corpus of at least one hundred crore rupees. (b) SSF shall accept an investment of value not less than ten crore rupees from an investor. In case of an accredited investor, the SSF shall accept an investment of value not less than five crore rupees. Further, in case of investors who are employees or directors of the SSF or employees or directors of the manager of the SSF, the minimum value of investment shall be twenty-five lakh rupees.

Abitral award can be modified only in case of an arithmetical or clerical error: SC

January 27, 2022 1101 Views 0 comment Print

Supreme Court held that an arbitrator allowing an application to modify an original award in exercise of powers under section 33 of Arbitration and Conciliation Act, 1996, was not sustainable if there was no arithmetical and/or clerical error in the award.

Equal Pay For Equal Work” Not A Fundamental Right: SC

January 27, 2022 5856 Views 0 comment Print

State of Madhya Pradesh Vs R.D. Sharma (Supreme Court of India) It may be noted that Supreme court has consistently held that the equation of post and determination of pay scales is the primary function of the executive and not the judiciary and therefore ordinarily courts will not enter upon the task of job evaluation […]

Mis-classification of Imported Goods- HC permits re-export of good on Furnishing of Bank Guarantee

January 27, 2022 1536 Views 0 comment Print

Additional Director General Vs Hazel Mercantile Ltd (Gujarat High Court) t appears from the materials on record that the respondent No.1 herein imported goods declaring the same to be ‘Naphtha’ classified under CTH 27101229. The goods were imported at the Kandla Port vide the Bills of Entry. It appears that the respondent No.2 herein – […]

CCI can Investigate Anti-Competition Element in Lottery Tendering Process: SC

January 27, 2022 1080 Views 0 comment Print

Competition Commission of India Vs State of Mizoram (Supreme Court of India) The Supreme Court has ruled that the Competition Commission of India (CCI) cannot be prevented from investigating anti-competition Element in the tendering process of lotteries on grounds of lottery business outside the ambit of commercial intercourse. We must take note of the expansive […]

Telecommunication Tariff (Sixty Sixth Amendment) Order, 2022

January 27, 2022 441 Views 0 comment Print

TRAI Authority may notify different rates for different persons or class of persons for similar telecommunication services and where different rates are fixed as aforesaid the Authority shall record the reason therefor

Food Safety and Standards (Packaging) First Amendment Regulations, 2022

January 25, 2022 2112 Views 0 comment Print

(1) These regulations may be called the Food Safety and Standards (Packaging) First Amendment Regulations, 2022. (2) They shall come into force on the date of their publication in the official Gazette.

Specially Distinguished Record of Service Medal to 29 CBIC Officers

January 25, 2022 1074 Views 0 comment Print

President is pleased to award Appreciation Certificates and Medals for Specially Distinguished Record of Service to the officers and staff of CBIC, Department of Revenue, on the occasion of the Republic Day, 2022

Amendment in Export Policy of Human Hair

January 25, 2022 5181 Views 3 comments Print

The export policy of human hair, unworked, whether or not washed or scoured; waste of human hair or any other form of raw human hair under ITC (HS) Code 0501 has been put under restricted category, with immediate effect.

Government approves plan for transfer of assets by Air India Limited to AI Assets Holding Limited

January 24, 2022 765 Views 0 comment Print

The Central Government hereby approves the following as plan approved by the Central Government for transfer of assets by Air India Limited to AI Assets Holding Limited: 1. The Restated Framework Agreement entered into by and between Air India Limited (AI) and AI Assets Holding Limited (formerly known as Air India Assets Holding Limited) (AIAHL) dated 05 January 2022;

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