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Circular no. IRDA/AGTS/CIR/GLD/017/01/2012, A. As per clause 3 (b) of the guidelines only entities registered as Company under the Companies Act, 1956 and Societies and Trusts registered under Societies Registration Act shall be eligible to apply for accreditation as ATIs. The following is added in the above clause:
Central Provident Fund Commissioner Vs. Central Provident Fund Employees’ Union (Delhi HC)- Though some merit is found in the contention of the petitioner employer that the award does not render any finding of parity in educational qualification, method of recruitment, duties and responsibilities of the Assistants/Stenographers/Hindi Translators/Superintendents employed with the petitioner employer and persons with the same designation in the Central Secretariat and a perusal of the records of the
Hindustan Unilever Limited Vs Girnar Exports (IPAB)- The four appeals are against the orders passed by the Deputy Registrar, Trade Marks at Chennai in three proceedings and the Deputy Registrar at Kolkata in one. The mark is Red Label. Application No. 397359 is for registration of the mark which is a label consisting of the word Red Label with a colour scheme of red and yellow in Roman and Arabic character in respect of tea (Class 30) which is the subject matter of TA/47/2003/TM/CH.
In all other matters, the concerned DC, SEZ should take all necessary steps, including consultation with Government Counsel and represent the matter before the relevant Court on behalf of UoI also.
Present case appears to be one where prima facie the provisions of Section 22 of the SICA are taken undue advantage of. Therefore, at least in those cases where the reference was rejected in previous years on merits by the BIFR, guidelines can be issued to ensure that fresh references in subsequent years should not be mechanically entertained. Learned counsel for the respondent may be right in contending that while registering the references, the Registrar cannot act as quasi judicial authority which is the function of the Board.
The government says it will soon notify 100 per cent foreign direct investment in single-brand retail. Secretary in the Department of Industrial Policy and Promotion (DIPP) P K Chaudhery said this in response of a question about issuance of notification of 100 per cent FDI in single-brand retail.
The IRDA had issued guidelines for pension products vide its circular dated November 8, 2011 and insurance companies were required to withdraw all insurance products which do not conform to the guidelines with effect from January 1, 2012. In accordance with this circular, insurance companies had filed 22 revised products as on date out of which 21 products were filed only in the month of December 2011 and of which the largest number were filed in the last week of December 2011. During examination of the products, certain insurers have sought clarifications and in that context, the IRDA issues clarification on clause (17) of the Circular dated November 8, 2011 as follows:
As Asset Liability Management plays a vital role in the sound management of the insurance business, Authority vide its Circular No: IRDA/ACT/CIR/MISC/081/05/2010, May 13, 2010, has mandated all the non-life insurers to provide the details of ALM activities undertaken by them Section-11 on ‘Investments and ALM’ of Financial Condition Report (FCR) and also discussed the framework of ALM in its guidelines on Corporate Governance. On thorough examination of the details of ALM activities submitted by the non-life insurers in the FCR for the year ended March 31, 2010, it appeared that these details are incomplete and inconsistent. As the mandate by the Authority was very broad, each insurer had adopted their own measures in reporting such details in FCR. In this regard, the following framework shall be put in place by the insurers.
order No. IRDA/Nl/ORD/MPL/004/01/2012, dated 3-1-2012 In order to ensure that the setting up of declined risk insurance pool and matters connected to its operations, the Authority constitutes the Operational Committee with following members to oversee a smooth transition to the new system, operates in an efficient & effective manner, protect the interests of the policyholder address issues that may arise during the course of its functioning:
In accordance with the Order No Ref: IRDA/NL/ORD/MPL/046/03/2011, dated 12-03-2011, the Authority had appointed Government Actuary’s Department, UK to evaluate the liabilities of the Indian Motor Third Party Insurance Pool (IMTPIP) under the Insurance Act, 1938 in order to assess the adequacy of the reserves which are to be calculated as per the IRDA Regulations and in particular as per reference 2 cited.