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Corporate Law : A UAE visa or company does not establish tax residency. Tax depends on residence tests, income, management, and supporting evidenc...
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Corporate Law : PIB outlines the FCRA framework, proposed 2026 Amendment Bill and notified Rules covering registration, reporting, asset vesting a...
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Corporate Law : Government notifies the Employees’ Provident Funds Scheme, 2026, replacing the 1952 Scheme and introducing updated EPF, enrolmen...
Attention is invited to Guidelines on Insurance Repositories and Electronic Issuance of Insurance policies issued by IRDA vide Ref No.IRDA/ADMN/GDL/GLD/080/04/2011 on 29th April, 2011. In accordance to Clause 5 (2) of the guidelines, Applications are called for from the companies that conform the eligibility criteria laid down in the said guidelines.
IRDA requests for Proposal from reputed IT firms / Organizations for the development and implementation of Integrated Surveyor Licensing Management System (ISLMS), maintenance and hosting the same. For details, please visit http://www.irda.gov.in. Last date for receipt of application for technical bid is 7th May 2011 by 3.00 PM
Sec 2 (j) of the Industrial Disputes Act has defined the term industry means any systematic activity carried on by co-operation between an employer and his workmen (whether such workmen are employed by such employer directly or by or through any agency, including a contractor) for the production, supply or distribution of goods or services with a view to satisfy human wants or wishes (not being wants or wishes which are merely spiritual or religious in nature), whether or not, –
CONSULTING ENGINEERING SERVICES (INDIA) PVT. LTD.Vs.THE CHAIRMAN, ESI CORPORATION & ORS (DELHI HIGH COURT) -The present appeal filed under Section 82 of the Employees‟ State Insurance Act, 1948 is directed against the judgment and order FAO 124/2002 15.02.2002 passed by the learned Senior Civil Judge, ESI Court, Delhi in ESI Petition No.19/99, whereby it was held that the appellant is covered by the Employees State Insurance Act, 1948 (hereinafter referred to as “the Act”) and is not entitled to the relief claimed by it in the petition filed under Section 75 of the Act.
The Bombay High Court in Road Transport Corpn Vs. Kirloskar Bros Ltd (AIR 1981 Bom 299) has said that it is for the carrier to plead and prove that the print on the receipt was brought to the notice of the consignor and that he had agreed to and accepted the same. The Court held that it is necessary that serious terms of a contract must be specifically brought to the notice of the parties whose rights are sought to be curtailed. In Oriental Fire and General Ins Co Vs. New Suraj Transport Co (AIR 1985 All 136) the consignment note was not even signed by the booking party or his agent, the Allahabad High Court held that the consignor was not bound by a printed term about the exclusive jurisdiction. THE COURT SAID THAT SOMETHING MORE MUST BE DONE THAN MERELY PRINTING THE TERMS ON CONSIGNMENT DOCUMENTS.
A division bench of Delhi High Court in J B Exports Ltd and another vs. BSES Rajdhani Power Ltd (2006 134 Comp cas 106 Del. decided on 3.3.2006) observed that the concept that a company is a distinct legal entity apart from its shareholders, vide Salomon vs. Salomon & Co. (1897 AC 22 HL) had a historical purpose. Its main purpose was to encourage entrepreneurs to start new business ventures and, thus, help in the process of industrialisation.” This background is so important that it merits consideration in detail as follows.
Foreign Contribution Regulation Act (FCRA) 2010 has been notified and it has come into force with effect from 1/5/2011. FCR Rules 2011 have also come into force from 1/5/2011. Key features of FCRA 2010 include the following- Concept of ‘permanent’ registration done away with; A five-year registration is provided so that dorman organisations do not continue. All existing registered organisations are deemed to be on a five-year validity from now.
I. Annual Filing of Compliance Status- a) All insurers are required to file a Report on status of compliance with the C G Guidelines on an annual basis w.e.f. the Financial Year 2010-11. This report shall be filed within 90 days from the end of the Financial year (i.e., before 30th June). The report should be filed in the format as placed in Annexure-1. b) Clause 9 of the CG Guidelines requires confirmation of disclosures made in the Annual Accounts. In such instances, where the finalization of Annual Accounts extends beyond 90 days of the close of the financial year, the status on disclosure in the Financial Statements as required under the aforementioned clause may be made within 15 days of adoption of the Annual Accounts by the Board of Directors of the insurers. This is in line with the stipulations issued by IRDA vide Circular No. IRDA/F&A/013/2005-06 dated 9th June, 2005.
Based on the detailed scrutiny of the Technical & Commercial Proposals submitted by the Shortlisted IT firms and further evaluation based on Combined Quality Cum Cost Based System (CQCCBS), M/s L & T Infotech has been formally selected as an Implementation Agency for the implementation of Business Analytics Project.
Purpose of Arbitration Act-The purpose of Arbitration and Conciliation Act, 1996 (‘the Act’) is to provide quick redressal to commercial dispute by private Arbitration. Quick decision of any commercial dispute is necessary for smooth functioning of business and industry. Internationally, it is accepted that normally commercial disputes should be solved through arbitration and not through normal judicial system. An arbitrator is basically a private judge appointed with consent of both the parties. He is expected to give his decisions quickly as he is not bound by the technical formalities of a court. In India, the need of arbitration is more because of very heavy burden on the judicial system and huge backlog of pending cases.
