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Corporate Law : Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, t...
Corporate Law : Supreme Court holds safe road passage integral to Article 21 and issues nationwide directions on highway safety, enforcement, and ...
Corporate Law : The resolution plan was approved despite a higher competing offer, as creditors prioritized upfront payment and execution certaint...
Corporate Law : The Court examined misuse of anti-conversion laws through third-party complaints lacking factual basis. It held that such false FI...
Corporate Law : Explains the requirement of CTE before setup and CTO before operations. Highlights how both approvals ensure compliance and preven...
Corporate Law : The amendments replace the consultation committee with CoC oversight, giving creditors greater control over liquidation decisions....
Corporate Law : The proposal focuses on enabling creditors to initiate resolution while retaining debtor management under supervision. It sets out...
Corporate Law : The amendments arise from the inclusion of a unified “service provider” definition under the Code. The move expands regulatory...
Corporate Law : The issue addressed is ambiguity in authentication and evidentiary value of financial information in insolvency cases. The propose...
Corporate Law : The proposal aligns grievance regulations with the newly introduced definition under the amended Code. It aims to ensure uniform a...
Corporate Law : Bank of India Vs Neurostar Hospital Private Limited (NCLT Mumbai) The application was filed under Section 7 of the Insolvency and ...
Corporate Law : The Tribunal held that appeals filed beyond the statutory 45-day limit cannot be entertained. It ruled that delay exceeding the co...
Corporate Law : The Tribunal held that insolvency proceedings cannot be avoided when total debt is higher than the arbitral claim. It ruled that u...
Corporate Law : The issue involved rejection of a delayed claim in bankruptcy proceedings. The Tribunal held that concealment of material facts by...
Corporate Law : The court interpreted the scope of Section 91 CrPC in summoning documents. It ruled that parties cannot demand documents as a matt...
Corporate Law : IRDAI delegates Section 34 powers between Whole Time Members and Chairperson. The move aims to streamline enforcement actions and ...
Corporate Law : The Bill mandates seat allocation using updated census figures, replacing decades-old data. It ensures fair representation aligned...
Corporate Law : The notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensurin...
Corporate Law : The government approved a major fund to enhance startup funding through AIFs. The scheme aims to strengthen innovation, especially...
Corporate Law : EPFO permits de-linking of wrongly linked Member IDs even when contributions exist, subject to limits. The circular outlines a str...
Arbitration process is a mechanism to avoid delay in securing justice and preserving right between the disputants / litigants. The objects of arbitration as held by the Supreme Court are to settle all disputes between the parties in order to avoid litigation and further litigation. Arbitration is the reference of a dispute or difference between the parties for determination after hearing both sides in the judicial manner by a person or persons without involvement of the court.
Attention is drawn to section 31B(2) of the Insurance Act, 1938 by virtue of which “Every insurer shall before the close of the month following every year, submit to the Authority [a statement, in the form specified by the Regulations made by the Authority,] showing the remuneration paid, whether by way of commission or otherwise, to any person in cases where such remuneration exceeds (such sum as may be specified by the regulations made by the Authority.)”
The Finance Minister, Shri Pranab Mukherjee has asked insurance industry to give more focus to generate the required level of awareness about the benefits of insurance to rural people particularly those living in semi-urban and rural areas. They should make all efforts to take the necessary steps to ensure the reach of insurance to general masses.
Finance Minister Pranab Mukherjee has said unit-linked insurance plans (Ulips) need further reforms on the back of the changes already announced by the insurance regulator. The finance minister also hinted at a resolution to the dispute between Sebi and Irda over Ulip regulation.
The next time you plan to buy an insurance policy through a corporate agent, please check whether the agent is legally authorised to sell the policy or not. This has become necessary because the Insurance Regulatory and Development Authority has said that 4,261 corporate agents out of 7,000 in the country were not authorised to sell policies from March 31, 2010.
The Central Government, in exercise of the powers conferred by sub-section (1) of Section 4 of the Special Economic Zones Act, 2005 (28 of 2005) and in pursuance of rule 8 of the Special Economic Zones Rules, 2006, hereby makes the following amendment in the notification of the Ministry of Commerce and Industry, Department of Commerce, number S.O. 1626(E) dated 7th July, 2008 with respect to sector specific Special Economic Zone for engineering sector by M/s. Ansal Kamdhenu Engineering SEZ Limited at Village Bhagan, Tchsil-Ganaur (Sonepat) and village Kurar Ibrahimpur, Tchsil-Sonepat on NH-1, Haryana,
Instances have come to the notice of the Authority that a large number of firms were floated by the same set of individuals under different or similar names to act as Corporate Agents. Some of corporate agents were observed to utilize the services of a large number of people not having requisite Licence/Certificate to solicit or procure the insurance business, and paid remuneration for procuring the insurance business.
The Insurance Regulatory and Development Authority (Irda) has now proposed to streamline the promotion of insurance products through distance sales channels, such as the telephone and the internet. It has said it will issue rules in this regard and these will cover selling by ‘voice mode’, which includes telephone calls, ‘electronic mode’ (e-mails, internet and interactive television) and also the ‘physical mode’, though postal mail and newspapers.
approval committee for the sector specific Special Economic Zone for information technology and information technology enabled services-C at Village Ulwe, Taluka Panvel, District Raigad in the State of Maharashtra by M/s. Navi Mumbai SEZ Private Limited
The Insurance Regulatory and Development Authority (Irda) has not cleared any unit-linked insurance plans (Ulips) for nearly two months, following the recent changes to the norms and the regulatory tussle over the investment-cum-insurance products.
