Read all latest corporate law news, articles, notifications & circular on Taxguru.in. News on laws related to DIPP Labour Minimum Wages Gratuity PF Arbitration Negotiable instrument Essential Commodities SRFAESI Competition Act Corporate Law
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Corporate Law : Participate in the public consultation on amending Rule 3 of the Legal Metrology (Packaged Commodities) Rules, 2011. Deadline: 29....
Problem of judgements without giving reasons continues :- Though the SC has criticised some high courts for writing judgements without giving reasons, the problem seems to continue. In the case of Tikaula Sugar Mills vs State of Uttar Pradesh, the Allahabad high court was asked to pass a reasoned judgement in the dispute. The high court had set aside the order of the Special Secretary, Government of Uttar Pradesh, without giving reasons. “In our considered view, the judge should not have set aside the order without assigning any reasons,” the SC said, and asked the high court to dispose of the case within a month.
These regulations may be called the Competition Commission of India (Procedure in regard to the transaction of business relating to combination) Regulations, 201_. (2) They shall come into force on the date of their publication in the Official Gazette.
As per sections 5 & 6 of the Competition Act, the commission is empowered to probe a corporate deal for any possible breach of the competition law. However, the government has set a threshold limit as per which only those M&As would come under the CCI purview that have combined assets of R1,000 crore or more or combined turnover of R3,000 crore or more.
Once a gift is complete, the same cannot be rescinded. For any reason whatsoever, the subsequent conduct of a donee cannot be a ground for rescission of a valid gift.
4th March, 2011. S.O. 482(E) – In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts an enterprise, whose control, shares, voting rights or assets are being acquired has assets of the value of not more than Rs. 250/- crores or turnover of not more than Rs. 750/- crores from the provisions of section 5 of the said Act for a period of five years.
4th March, 2011. S.O. 481 (E) – In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the ‘Group’ exercising less than fifty per cent of voting rights in other enterprise from the provisions of section 5 of the said Act for a period of five years.
4th March, 2011-S.O. 480(E).- In exercise of the powers conferred by sub-section (3) of section 20, of the Competition Act, 2002 (12 of 2003), the Central Government, in consultation with the Competition Commission of India, hereby enhance, on the basis of the wholesale price index, the value of assets and the value of turnover, by fifty per cent for the purposes of section 5 of the said Act.
4th March, 2011- S.O. 479(E) .- In exercise of the powers conferred by sub-section (3) of section 1 of the Competition Act, 2002 (12 of 2003), the Central Government hereby appoints the 1st day of June, 2011 as the date on which sections 5, 6,20,29, 30 and section 31 of the said Act shall come into force.
Who says tax policy and tax planning do not go hand in hand. Here is a live example of frequent tax policy change and failed tax planning without any wrong motives. When the concept of limited liability partnerships was introduced in India two years back, it was advocated that LLPs are a better, easier and tax friendly option, compared to corporate entities .
he Supreme Court last week reiterated that casual workers cannot claim regularization merely because they have been working for a considerable period of time. It said that the law consistently laid down by it was that casual employment terminates when the same is discontinued. “Merely because a temporary or casual worker has been engaged beyond the period of his employment, he would not be entitled to be absorbed in regular service or made permanent, if the original appointment was not in terms of the process envisaged by the relevant rules,” the judg-ment stated allowing the appeal of the central government in the case of casual workers who have been engaged with six-monthly breaks up to 30 years. The Supreme Court set aside the order of the Gauhati high court which was contrary to the precedents in the case, and allowed the appeal of the government in the case, Union of India vs Vartak Labour Union.
