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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 : 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...
Government proposes to extent benefits of Special Economic Zones (SEZ) to food parks so that the country could quickly emerge as a regional hub for food processing and SEZ benefits are available only to SEZ Developers and units. Mega Food Park Scheme presently operates under different set of guidelines framed by the Government.
A summons issued by the Enforcement Directorate, Government of India, under Section 37 of the Foreign Exchange Management Act, 1999 could not be interdicted by the High Court on the ground that there was no application of mind and the documents sought for would amount to a roving enquiry by the Directorate, the Madras High Court has held.
Chief Justice of India K G Balakrishnan’s recent request to Prime Minister Manmohan Singh to protect the judiciary from increasingly ‘‘intrusive’’ queries appears to have triggered an exercise to look for options to effect changes in the RTI Act. Following the CJI’s impassioned letter, which said questions asked by chronic litigants about the judiciary could erode its independence, the government has started looking into possible changesin the RTI Act, highly placed sources said.
The Enforcement Directorate(ED) on Friday claimed to have found evidence of “large-scale” violations of Foreign Direct Investment(FDI) guidelines by real-estate major Emaar MGF in purchase of land. During its searches carried out at 13 premises of the group on Thursday, ED also claimed to have recovered about Rs nine crore in cash, two kg of gold and foreign currency worth Rs 5 lakh.
The Limited Liability Partnership Act, 2008 (‘the LLP Act’) was brought into force with effect from 31st March 2009 to permit formation of Limited Liability Partnerships (‘LLPs’) in India. The main focus of the LLP Act is to permit a partnership structure and at the same time, limit the liability of partners which was heretofore unlimited under the provisions of the Indian Partnership Act, 1932 (‘the Partnership Act’). This article discusses briefly the limitation of liability of partners under the LLP Act as compared to the limitation of liability of a shareholder of a limited company formed and registered under the Companies Act, 1956 (‘the Companies Act’) and the manner in which such liabilities are limited under the LLP Act.
The Revenue Department, which scrutinises all foreign investments from the tax angle, has asked the Foreign Investment Promotion Board (FIPB) to ensure that FDI applicants furnish three years audited financial statements of the investor.Such disclosures will be useful to determine the source of funds as also to assess the ability of the actual and the immediate investor to make such investments.
RADIO broadcasters have expressed concerns over the proposed move to introduce Section 33A in the Copyright Act which would give unfair powers to the music societies to fix tariff and could potentially derail the radio industry already reeling under massive losses.
Absence of tax-free climate has affected inflows of foreign investment in the shipping sector, reducing its competitiveness, the government informed Rajya Sabha. “The Indian flag suffers from certain barriers in terms of tax and duty structures which may have impeded the growth of foreign direct investment (FDI),” shipping minister GK Vasan told Rajya Sabha. As per him new taxes in the form of service tax, FBT etc reduced its competitiveness.
Asking for transparency in functioning, leading broadcasters like Zee TV, STAR, Sony and others have taken a strong objection to a proposed move by the Ministry of Human Resource Development (HRD) to amend the existing Copyright Act without consulting them. Under the proposed changes, even news broadcasters may also have to cough up a similar amount for every telecast of matches and old clippings.
Meetings of all Zonal Development Commissioners under the chairmanship of AS(SEZ) would be held after BOA meeting in the Department of Commerce to discuss and clarify policy matters which required further discussion. Therefore, if Zonal DCs need any clarifications on SEZ Policy issues, they may bring up such matters along with full details of the case in these meetings.
