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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 : Highlights that failure to act on workplace harassment complaints may be treated as abetment, attracting criminal consequences. Th...
Corporate Law : Emphasizes that organizations must shift from policy-based compliance to building a culture of safety rooted in accountability and...
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 : 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 : The issue involved delay in processing an NOC application due to alleged disputes over development rights. The Court held that wit...
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...
In a landmark ruling, the Central Information Commissioner has passed an order which says information on refunds is covered under the Right To Information (RTI) Act. L Lakshmi Narayanan, an assessee, had filed an RTI petition with the (I-T ) department in Chennai, asking for information as to why was there a delay in the payment of his IT refunds for 2003-04, 2005-06, 2006-07 and 2008-09, amounting to Rs 3,32,457.
The DC’s/UAC’s may allow Developer/approved Co-developers duty free goods and services for these default authorized operations from the date of notification of the SEZ. These authorized operations will, however, continue to be subject to the various guidelines issued by Government from time to time. Approval Committees while approving goods and services for such default operation may look into the actual requirement of the SEZs for such operations.
Pledge of shares is a common practice adopted in the securities market by investors and intermediaries to raise finance. Banks and financiers have their own method of advancing money in pledge transactions. They keep a margin against the quotations of the shares. S 172 of the Indian Contract Act, 1972 defines pledge as bailment of goods for payment of debt or performance of promise.
Regarding Licencing requirement, it is clarified that in terms of Rule 27 of SEZ Rules, a unit in SEZ/FTWZ can import all types of goods except prohibited items. However, in terms of Rule 26 of SEZ Rules, if any permission is required for import under any other law, the same shall be allowed with the approval of BOA. In respect of prohibited items, Instruction No.47 dated 4th March, 2010 shall apply.
Many complain that there is so much delay before traditional Civil Courts and I do strongly feel that the possible delay before the Civil Courts and the presumptions makes a person to compromise with his rights too even. It is presumed that the enormous work load before the Civil Courts and the complicated procedures and especially the procedure prescribed under Civil Procedure Code, 1908 is the root cause for the delay.
The Supreme Court on Monday filed an appeal before itself challenging a Delhi high court ruling that the Chief Justice of India (CJI) was covered by the Right to Information (RTI) Act. By doing so, the apex court has raised the broader issues of conflict of interest and of whether judges can judge themselves.
Section 49 of the Special Economic Zones Act, 2005 – Power to modify provision of this Act or other enactments in relation to Special Economic Zones – Exemption to ATMs in SEZ from being treated as Offshore Banking Units. Notification No. S.O. 527(E), dated 3-3-2010
The government is set to introduce Bills to amend existing laws governing chartered accountants, cost accountants and company secretaries in the current Budget session, a senior government official said. The proposed amendments will allow registration of large size consultancy firms in India.
In addition to the Seven Central Government SEZs and 12 State/ Private Sector SEZs set up prior to the enactment of SEZ Act, 2005, formal approval have been accorded to 571 proposals out of which 348 SEZs have been notified. A total of 105 SEZs are already exporting.
Shri Anand Sharma, Union Minister of Commerce & Industry, has stated that the FDI inflows for the month of December, 2009 have been of the order of US $ 1.542 billion. Addressing a press conference here today he informed that this is an increase of 13%, in US $ terms, over inflows in the month of December, 2008 (previous year), which were US $ 1.362 billion.
