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Corporate Law : Read the detailed analysis of Kashi Ram Ved Prakash v. Commissioner of Commercial Tax U.P. by Allahabad High Court. The court disc...
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The Delhi high court has held that non-governmental organizations (NGOs) which get government funds should come under the purview of RTI Act making it mandatory for them to disclose information pertaining to their functioning. The term public authority has been given a broad meaning not only to include bodies which are owned, controlled or substantially financed directly or indirectly by the government but even NGOs, which are financed directly or indirectly by the government, justice Sanjeev Khanna said while declaring the stock exchanges as public authorities in a recent order.
With opposition parties training their guns on the Indian Premier League (IPL), the government today told Lok Sabha that the investigation into the sources and routes of funding for the Twenty20 tournament had already begun and “no guilty or wrong-doer” would be spared.
The following draft rules further to amend the Employees’ State Insurance (Central) Rules, 1950 were published as required under sub-section(1) of section 95 of the Employees’ State Insurance Act, 1948 (34 of 1948) in the notification of the Government of Indian in the Ministry of Labour & Employment vide No. G.S.R.164 (E), dated the 26th February, 2010, in the Gazette of India, Part II, Section 3, Sub-section (i), dated 27th February, 2010
The government plans to tighten investment norms for non-resident Indians (NRI) in companies to ensure that they do not violate foreign direct investment (FDI) sectoral caps or enter areas where such investment is banned. The Reserve Bank of India (RBI) has also mooted a proposal to withdraw the special status given to NRIs for investing in sectors such as aviation, housing and real estate.
Many in this country including the corporates are closely watching the IPL controversy and it had led Mr.Shari Tharoor to submit his resignation. There are many interesting issues in the entire episode and I want to highlight few issues as a classic example of complications in dealing with corporate issues.
Delhi High Court on Thursday said the National Stock Exchange was a public authority and was bound to reveal information under the Right to Information Act. Justice Sanjiv Khanna dismissed NSE’s plea that it could not be forced to disclose information under the transparency law since it was an autonomous body and not controlled by the government.
Notification dated 28th August, 2009 issued by the Ministry of Corporate Affairs (`MCA’) repealed the Monopolies and Restrictive Trade Practices Act, 1969(`MRTP ACT’) with effect from 1st September, 2009. The repealed Act was replaced by the Competition Act, 2002 (`COMPETITION ACT’) as amended by the Competition (Amendment) Act,2007.
The periodic disclosures have been notified by the Authority. In order to have uniformity among the insurers on disclosures and to clarify the doubts raised by certain insurers and other stakeholders, Authority provides the following guidelines on periodic disclosures.
The Legal Services Authority Act, 1987 (`LSA’) was enforced with effect from 9th November,1995 after certain amendments were introduced by the Amendment Act of 1994 to the main act. The Act provides for scope of legal aid support for the economically weak, backward section and disabled persons . Legal Aid scheme was introduced by Justice P.N.Bhagawati under the Legal Aid Committee formed in 1971.
Ministry of defence plans to oppose a proposal from the ministry of commerce and industry to allow foreign defence corporations to establish fully-owned defence units in India. The new Consolidated Foreign Direct Investment Policy, effective from April 1, limits FDI in defence units to 26 per cent. But the Department of Industrial Policy & Promotion of the commerce ministry is in favour of raising this limit.
