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Directive to be given to all co-operative Housing Societies in the Maharashtra State Under section 79 (A) of the Maharashtra Co-operative Societies Act, 1960. Model Bye Laws of Cooperative Housing Society in Maharashtra In respect of applying Co-operative Housing Societies Manual. GOVERNMENT OF MAHARASHTRA No. SAGRUYO-2011/PRA.KRA. 360/14-SA, Co operation, Marketing and Textile Department, Date 15th […]
Master Circular No. 2/2011 The specified number of companies for the purpose of section 233B (2) read with section 224 (1B) of the Companies Act, 1956 is to be computed for a given financial year with reference to the number of companies wherein he has been appointed as the cost auditor, including those wherein he is proposed to be appointed for which he has given his consent. The number of companies in respect of which cost audit reports have not been submitted and have become overdue shall also be taken into account for the purposes of ceiling under section 224 (18).
Govind Yadav Versus The New India Insurance Company Limited (Supreme Court)- The compensation awarded by the Tribunal for pain, suffering and trauma caused due to the amputation of leg was meager. It is not in dispute that the appellant had remained in the hospital for a period of over three months. It is not possible for the Tribunals and the Courts to make a precise assessment of the pain and trauma suffered by a person whose limb is amputated as a result of accident.
The SEZ sector has grown significantly since the enactment of the SEZ Act 2005 and Rules in 2006, in terms of the number of SEZs, investment attracted, and employment and exports generated. While these achievements are irrefutable and significant, a comprehensive analytical assessment of the performance of the sector and certain key developments in the politico-economic environment in recent years reveals aspects of the SEZ Policy and Operational framework that perhaps require a re-look with a view to possible reform.
Pension products offered by life insurance companies have a special role to play in promoting and protecting the social security by provision of stable and adequate retirement income. The regulatory framework for pension business of life insurance industry should take into consideration the long-term risks inherent in the pension products. The need for greater security of the pensioner’s fund and the stability and financial viability of the insurance companies need to be balanced for healthy growth of the sector. Authority issues following instructions under section 14 of IRDA Act to achieve the above stated objectives.
Employees Provident Fund Commissioner Vs. O.L. of Esskay Pharmaceuticals Limited (Supreme Court of India)- In terms of Section 530(1), all revenues, taxes, cesses and rates due from the company to the Central or State Government or to a local authority, all wages or salary or any employee, in respect of the services rendered to the company and due for a period not exceeding 4 months all accrued holiday remuneration etc. and all sums due to any employee from provident fund, a pension fund, a gratuity fund or any other fund for the welfare of the employees maintained by the company are payable in priority to all other debts.
Mrs. Anita Malhotra Vs. Apparel Export Promotion Council & ANR. (Supreme Court) -In case of a Director, complaint should specifically spell out how and in what manner the Director was in charge of or was responsible to the accused Company for conduct of its business and mere bald statement that he or she was in charge of and was responsible to the company for conduct of its business is not sufficient. [Vide National Small Industries Corporation Limited vs. Harmeet Singh Paintal and Another, (2010) 3 SCC 330].
Durga Charan Rautray Versus State of Orissa & Anr. (Supreme Court) – The appellant, while accepting payment on the preparation of the final bill, did not undertake that he would not raise any further claims. As such, we are satisfied that the judgment rendered in Bharat Coking Coal Ltd., case (supra) leads to the irresistible conclusion, that despite receipt of payment on the preparation of the final bill, it was still open to the appellant to raise his unsatisfied claims before an arbitrator, under the contract agreement. Thirdly, it was no longer open to the respondents to contest the claim of the appellant on the instant issue after the appellant had obtained the court order dated 15.5.1981 which referred the disputes raised by the appellant to an arbitral tribunal.
Swami Vivekanand College of Education & Ors. Vs. Union of India & Ors. (Supreme Court) – When Regulations 2007 were enacted, the Regulations 8(3) and 8(4) of Regulations 2005 were retained. In the aforesaid circumstances by Regulation 8(5) it was clarified that if any institution has been granted additional intake in B.Ed. and B.P.Ed. teachers training courses after enactment of Regulations 2005 i.e. 13th January, 2006, such institution is required to be accredited itself with NAAC with a Letter Grade B. It is needless to say that Regulations 8(3) and 8(4) of Regulations 2005 dated 27th December, 2005 having retained, it was always open to NCTE to remind the institutions that they were required to follow Regulations 8(3) and 8(4), if were allowed additional intake after 13th January, 2006. For the reason aforesaid the Regulation 8(5) cannot be held to be retrospective. The second question is, thereby, answered in negative against the appellants.
Sanjeev Kumar Jain Versus Raghubir Saran Charitable Trust & Ors. (Supreme Court of India)- In view of the above, the order dated 20.1.2010 of the High Court, to the extent it levies costs of Rs. 45,28,000/- on the appellant is set aside and in its place it is directed that the appellant shall pay the costs of the appeal before the High Court as per Rules plus Rs. 3000/- as exemplary costs to the respondents.
