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Corporate Law : IBBI releases Phase 9 syllabus for Limited Insolvency Examination. Applicable from May 5, 2025, details available on the IBBI webs...
Montage Enterprises Pvt. Ltd versus Employees Provident Fund – 1. Conveyance allowance is included in the definition of basic wages because it is universally, necessarily and ordinarily paid to all across the board. 2. Special allowance is included in the basic wages since it is paid to all the workers and there are no specific criteria to determine the amount of special allowance.
Retirement fund body EPFO will appoint the multiple fund managers to manage its huge corpus of Rs 3.5 lakh crore by July 31, a month ahead of its latest deadline. Employees’ Provident Fund Organisation (EPFO) will be able to wind up the process of appointment of fund managers by July 31, a Labour Ministry official said.
The 194th meeting of the Central Board of Trustees, EPF, which was the eleventh regular meeting of the present Board, was convened here today. The Board deliberated upon a proposal for further extension of the selection process of the new fund managers for a period of two months effective from 01.07.2011. The Board also stipulated that the Employees’ Provident Fund Organisation EPFO would finalize the selection of fund managers before the expiry of the extended period. Till such time the State Bank of India would continue as fund manager of EPFO corpus.
Quashing a case filed against a cardiologist for stocking various medicines in his hospital allegedly for sale without licence, Madras High Court Bench here on Wednesday ruled that mere possession of drugs would not constitute an offence under the Drugs and Cosmetics Act.
In the long-running tussle between the National Stock Exchange (NSE) and its younger rival MCX-SX, the Competition Commission is believed to have penalised NSE for abusing its dominant market position. As a penalty, NSE has been asked to pay 5% of its average annual turnover and also “cease and desist” of unfair trade practices in the currency derivative trading, sources said.
The Central Information Commission (CIC) has directed the Reserve Bank of India to disclose an advisory note it issued to ICICI Bank for alleged violation of any RBI guidelines or for contravention of the provisions of money laundering and foreign exchange acts. The case relates to an RTI application filed by SS Vohra, who had sought to know details of such advisory notes issued by the apex bank to Patna and Hong Kong branches of ICICI Bank.
A Committee comprising of following is appointed with the approval of competent authority, on framing of National Competition Policy and related matters: – 1. Shri Dhanendra Kumar, Chairman 2. Shri Sudhir Mital, Additional Secretary, MCA 3. Shri Pradeep S. Mehta, Secretary General, CUTS International 4. Shri Pallavi Shroff, Expert Advocate, Amarchand Mangaldas
Speaking on the occasion the Minister said 4.72 crore accounts up to 2008-09 are likely to be updated online by 15.7.2011 to ensure more transparency. He said that the Provident Fund Organisation has been directed to update all accounts by December 2011 and expressed the hope that this will be done as per schedule as this will be one of the major achievements since nearly 14 crore accounts were pending for updation on 1.4.2011 i.e. the beginning of the new financial year. He expressed his happiness that EPFO will now put the account balances of members on website so that any member can check his balances up to the year his account are updated. Considering this as a big achievement he added that most of the members grievances will be resolved once they are able to access their accounts through website.
Since sending of notice from Delhi to Raipur does not confer jurisdiction on Delhi Court in view of the decision of the Hon’ble Supreme Court in the case of Harman Electronics Private Limited (supra) and the deposit of cheque with the banker of respondent No. 2 in Delhi also does not confer jurisdiction of Delhi court when the cheque is presented to a bank outside Delhi, and there is no other ground which would confer jurisdiction on Delhi Court, it cannot be said that the Delhi Court has the jurisdiction to try this complaint.
India Inc raised over $ 2.06 billion from overseas markets in April through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), the Reserve Bank said. Around 55 companies raised over $ 1.54 billion for various projects through the automatic route, which does not require RBI or the government approval. Another $ 520 million were raised through the approval route, according to the RBI data.
