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
Corporate Law : Explore key differences between the Code on Wages, 2019 and previous Indian labour laws on minimum wages, timely payment, and equa...
Corporate Law : Explore the Equal Remuneration Act, 1976, its key provisions, challenges, and impact on gender pay equity in India's evolving labo...
Corporate Law : Calls to abolish mercy petitions for terrorists and revise terror laws grow after the Pahalgam attack. Demands include stricter pe...
Corporate Law : This blog delves into the role of labour laws in promoting gender equality, analyzing their effectiveness and the challenges faced...
Corporate Law : Explore how the Code on Wages, 2019 compares with previous labour laws on minimum wages, timely payments, and equal remuneration i...
Corporate Law : Understand share capital updates on MCA V3. Find FAQs on e-forms, Class Wise Master, event dates, and important do's and don'ts fo...
Corporate Law : The CCI has approved Google's settlement in the Android TV case concerning alleged anti-competitive bundling practices and restric...
Corporate Law : PFRDA alerts public on fake NPS/APY schemes via SMS, calls, or apps. Advises caution and reporting of fraud through official chann...
Corporate Law : IBBI's First Appellate Authority dismisses Ravinder Aggarwal's RTI appeal seeking details on MSA Developers' resolution plan imple...
Corporate Law : India's IBC shows significant recovery rates. 8,000+ CIRPs initiated, with 3,485 debtors rescued. Learn about amendments & reforms...
Corporate Law : Karnataka High Court held that statutory upper limit of maximum stamp duty INR 25 crores under the Karnataka Stamp (Second Amendme...
Corporate Law : NCLAT Delhi held that application under section 9 of the Insolvency and Bankruptcy Code [IBC] is not maintainable due to pre-exist...
Corporate Law : Kerala High Court held that owners of buildings are liable to pay the annual property tax demanded in the respective demand notice...
Corporate Law : Supreme Court held that resolution plan by Successful Resolution Application i.e. Piramal Capital and Housing Limited for Dewan Ho...
Corporate Law : SC sets framework distinguishing copyright from design protection for industrial drawings, impacting IP law. Clarifies Section 15(...
Corporate Law : BBI suspends IP Vikas Prakash Gupta for one year for receiving fees designated for a separate support agency, violating transparen...
Corporate Law : IBBI's First Appellate Authority addressed an RTI appeal regarding information on the Institution of Valuers (IOV) and its foundat...
Corporate Law : Information Commission disposes of an appeal regarding delayed RTI response from CPIO, emphasizing adherence to statutory timeline...
Corporate Law : IBBI disciplinary order suspends IP Jitendrakumar Yadav for 1 year for IBC violations in Dilip Chhabria & Maha Urja cases, citing ...
Corporate Law : IBBI's First Appellate Authority dismisses an RTI appeal, clarifying that public authorities are not required to collate data in a...
Foreign investment in India rose by USD 22.7 billion in the quarter ending December 2010 to USD 628 billion, mainly on account of increase in portfolio investment and FDI. Total foreign fund inflows, including FDI, portfolio investment and external commercial borrowings (ECB), rose to USD 628.6 billion on December 31 from 605.9 billion during the end of September, according to RBI data.
If the owner of a motor vehicle has shown due diligence while appointing a driver and examined his licence, the insurance company cannot deny the insured amount on the ground that the licence was fake. The ruling of the National Consumer Commission to the contrary in the case, Mrs Rubi Dutta vs United India Insurance Co, was set aside by the Supreme Court and the company was asked to pay Rs 2.70 lakh as compensation for the damage to a bus in an accident. The insurer argued that the driver’s licence was fake. But it was a duplicate issued after following the legal procedure. The court stated that at the time of giving employment to the driver, “the owner of the bus must have examined the licence issued to him and after satisfaction thereof, he must have been given employment. Nothing more was required to have been done by the owner. After all, at the time of giving employment to a driver, owner is required to be satisfied with regard to correctness and genuineness of the licence he was holding. After taking the test, if the owner is satisfied with the driving skills of the driver then, obviously, he may be given an appointment.”
Glodyne Technoserve Ltd. Vs. State of M.P. & Ors. (Supreme Court) – The Supreme Court has dismissed the appeal of Glodyne Technoserve Ltd, which had bid for a project for issuing identity cards for the public distribution system in Madhya Pradesh. The government rejected it offer as it did not produce the latest ‘quality certificate’ with the bid document. The firm argued that it did have the latest certificate and therefore it was eligible to be considered. It also contended that the requirement for producing the latest certificate was added later by the government in a corrigendum to the bidder check list. Rejecting these arguments, the Supreme Court stated that in such circumstances, the authority inviting bids has the discretionary power to accept the bid or not. The decision can be quashed only if it was proved to be arbitrary or perverse. In this case, it was neither, the court declared.
The Supreme Court last week directed Glaxo India Ltd to deposit Rs 71.21 crore in the Drug Prices Equilisation Account, asking it to comply with the demand of the government. The central government had issued drug price control orders under the Essential Commodities Act fixing the maximum selling price of bulk drugs. Those notifications were challenged by the pharma company as arbitrary and illegal. The Supreme Court allowed the appeal of the government and stated that several drug companies were overcharging the consumers and the notifications were meant to control prices to benefit consumers.
The Supreme Court has stated that the debt recovery appellate tribunal has no power to exempt a defaulter from making a pre-deposit before entertaining his appeal under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act. In this case, Narayan Chandra vs UCO Bank, the tribunal granted exemption. The Calcutta high court set aside the order. He appealed to the Supreme Court which upheld the high court ruling.
The Supreme Court has dismissed the appeal of New India Assurance Company which had rejected the claim of a ship-breaking firm for compensation. The firm bought a Belgian vessel and was bringing it from Singapore on its ‘funeral voyage’ to Alang port in Gujarat for demolition. It wrecked on way in high seas due to bad weather. The ship was covered by marine insurance and the ship-breaker invoked the policy. The insurer rejected the claim leading to litigation in the consumer forum. The National Consumer Commission asked the insurance company to pay Rs 14 crore with 9 per cent interest to Priya Blue Industries, the scrap dealer in ships. However, the insurer appealed to the Supreme Court. It ruled that the loss suffered due to the ship wreck was properly assessed by the surveyors and the commission order was correct.
No NBFC shall contribute to the capital of a partnership firm or become a partner of such firm. A NBFC, which has already contributed to the capital of a partnership firm or was a partner of a partnership firm, shall seek early retirement from the partnership firm.
Pricing of Convertible instruments. Issue of Shares permitted against specified non-cash considerations under Approval Route. Approval / conditionalities surrounding previous joint venture/collaborations done away with. Guidelines relating to Down-Stream investments. Sector Specific policy for FDI- Agriculture. The revised FDI policy does carry the process of liberalization further and would assist in augmenting FDI into the Country. However, the revised FDI policy has kept at bay significantly expected changes such as permitting FDI in Limited Liability Partnership, Multi-Brand Retail Trading and several other subjects on which draft discussion papers were released earlier for public comments. It is important that these areas are also taken up the Government for liberalisation towards making India one of the most favourable FDI destinations in the world.
The government has called a Foreign Investment Promotion Board (FIPB) meeting on April 20, the first one after it announced major changes in FDI norms, to approve proposals for foreign direct investment. While the agenda of the 165th FIPB meeting was being finalised, sources said the Board may also consider those cases on which decisions were deferred in the past.
“ICICI is an Indian bank, but it is over 50 per cent (equity) foreign owned, it is owned by foreigners in that sense…for downstream investment it is a foreign company…,” Department of Industrial Policy and Promotion (DIPP) Secretary R P Singh told reporters here.The government today said that ICICI Bank and other lenders whose more than 50 per cent equity is owned by overseas entities will be treated as a foreign company for the purpose of computing FDI.
