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Corporate Law : Punjab & Haryana HC grants relief to son of a soldier injured in anti-terror operation in J&K, asserting his entitlement to a job ...
Corporate Law : Understand the applicability, compliance, penalties, and best practices of the POSH Act for Private Limited Companies in India wit...
Corporate Law : Learn how companies can build stakeholder trust through communication, engagement, transparency, and a structured redressal mechan...
Corporate Law : Trademarks are critical for businesses to differentiate their goods or offerings from others in market. They help construct brand...
Corporate Law : Understanding conveyance & deemed conveyance in housing societies, legal provisions, benefits, and challenges under MOFA, RERA, an...
Corporate Law : The National Pension System (NPS) offers flexible, low-cost pension options with digital accessibility, aiming to expand coverage ...
Corporate Law : ICAI held its Convocation 2025 across 13 locations, awarding 19,075 Chartered Accountants with membership. The Governor of West Be...
Corporate Law : The Indian government has not assessed the IBC’s impact on tax revenue loss and has no plans to amend tax priorities under insol...
Corporate Law : IBBI proposes key amendments to CIRP, liquidation, and personal guarantor insolvency, aiming to enhance efficiency, transparency, ...
Corporate Law : FIU-IND imposed a ₹9.27 crore penalty on Bybit for violating PMLA compliance. The platform operated without registration, leadin...
Corporate Law : Madras High Court held that Section 10-A of the Insolvency and Bankruptcy Code, 2016 cannot be extended to cases where default con...
Corporate Law : Bombay HC quashes order by Additional CIT, emphasizing CBDT or its members must explicitly issue orders under Section 119(2)(b) of...
Corporate Law : NCLAT upholds rejection of IBC Section 9 application against HUL, citing pre-existing disputes and claims below the Rs. 1 crore th...
Corporate Law : NCLAT Delhi upheld the CoC's decision to extend CIRP and withdraw liquidation, rejecting the appeal against the Resolution Profess...
Corporate Law : NCLAT Delhi held that distribution of liquidation proceeds has to be in proportion to the admitted claim of secured creditors as p...
Corporate Law : IBBI updates reporting rules for insolvency professionals, requiring timely assignment updates on its portal for CIRP, liquidation...
Corporate Law : PFRDA issues a master circular on service charges for PoPs under NPS (All Citizen & Corporate) and NPS-Lite, consolidating past ci...
Corporate Law : IBBI issues a disciplinary order against Akash Shinghal for non-compliance with CIRP regulations. The case involves voting and CoC...
Corporate Law : IBBI Disciplinary Committee reviews the case of Insolvency Professional Anil Kumar Mittal for excessive fees during CIRP proceedin...
Corporate Law : IBBI releases Phase 9 syllabus for Limited Insolvency Examination. Applicable from May 5, 2025, details available on the IBBI webs...
The International Accounting Standards Board (IASB) published today proposals to define investment entities as a separate type of entity that would be exempt from the accounting requirements in IFRS 10 Consolidated Financial Statements.
IRDA, after inviting comments and concerns of Insurers and after a careful consideration of all the submissions made, hereby darify that: Investment In Venture Funds would continue to be categorized under “Other Investments’ as per IRDA (Investment) (4th Amendment) Regulations, 2008 Insurers may Invest in any Venture Fund registered under SERI Regulations which include Venture Funds investing in Micro, Small and Medium Enterprises also No investment shall be made in a Venture Fund which is under the Promoter Group of the insurer
Government has said that it has notified Section 30 of the Advocates Act, 1961 recently enabling the lawyers to practice in courts across the country irrespective of their enrolment in any Bar Council without the need to transfer license to their desired States. Giving this information in written reply to a question in the Lok Sabha, Shri Salman Khurshid, Minister of Law & Justice, said that subject to provision of the Advocates Act, 1961, every advocate whose name is entered in the State roll shall be entitled as of right to practice throughout the territories to which this Act extends. He informed the House that this section has come into force with effect from the 15th June, 2011.
The Department of Information Technology had notified Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011 under section 43A of the Information Technology Act, 2000 on 11.4.2011 vide notification no. G.S.R. 313(E).
Date- 25.08.2011 – The Authority after notification of IRDA (Investment) (4th Amendment) Regulations, 2008 and after mandating the minimum requirements in respect of Investment Risk Management Systems & Process and Internal / Concurrent Audit Scope (issued through Technical Guides through the ICAI) took the feedback from the Working Group members on (1) Operational Issues (2) Systems issues (3) Audit related issues.
Ref:IRDA/ F&A/CIR/SOLP/195/08/2011 – The Circular clarified the position related to the retrocession of premium received from the TP Pool and excluded it from the calculation for the RSM, the position related to treatment of share of claim retro ceded from the pool remained unclear. The interpretation of the above Circular is taken differently by different companies. As a result, the insurers are following different approach in calculation of Solvency Margin in respect of Motor TP Pool.
Sarojben Ashwinkumar Shah etc. Vs. State of Gujarat & ANR. (Supreme Court of India)- In this case, a firm issued cheques to a person but it was returned by the bank as the account had been closed. The payee filed a criminal complaint under Section 138 of the Negotiable Instruments Act against the firm and two partners. During the trial, the two partners produced the copy of the registration of the firm. It indicated that there were two more partners in the firm. So the payee wanted to make them also parties. The newcomers moved the Gujarat high court for quashing this move. The high court refused to do so. They appealed to the Supreme Court. It set aside the high court order and asked it to reconsider the case.
Indusind Media & Communication Ltd. & ANR. Vs. Mamlatdar & Ors. (Supreme Court of India) – Honourable SC held that We do not find any substance in the submission made on behalf of the appellants that imposition of penalty is in violation of the principles of natural justice. We find from the orders passed by the authorities that the appellants had given incorrect information with regard to total number of connections given by them. The requisite information was not provided by the appellants in spite of issuance of notices and requests made to the appellants.
State of Haryana & Ors. Vs. M/s. Malik Traders (Supreme Court of India) – A person may have a right to withdraw his offer but if he has made his offer on a condition that some earnest money will be forfeited for not entering into contract or if some act is not performed, then even though he may have a right to withdraw his offer, he has no right to claim that the earnest/security be returned to him. Forfeiture of such earnest/security, in no way, affects any statutory right under the Indian Contract Act. Such earnest/security is given and taken to ensure that a contract comes into existence. It would be an anomalous situation that a person who, by his own conduct, precludes the coming into existence of the contract is then given advantage or benefit of his own wrong by not allowing forfeiture.
Madras High Court ruling on the applicability of Provident Fund (PF) contribution on certain allowances. Reynolds Pens India Pvt. Ltd. Vs Regional Provident Fund Commissioner (Madras High Court)- The Madras High Court in aforesaid case has held that certain allowances such as conveyance, educational allowances, food concession, medical allowance, special holidays, night shift incentive, city compensatory allowances etc. should be treated as part of basic wages under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 (‘EPF Act’.) and accordingly, provident fund contributions should be remitted on such allowances.
