Corporate Law - Page 764

Recent Supreme Court Judgment Misinterpreted to Infer That Date Of Rejection of A Claim is Irrelevant

NA 27/06/2010

Limitation period means the time within which a person must file his case before a judicial authority for exercising his rights. This period is to be calculated from the date of the cause of action. This term does not have any definition, but it is well settled that “cause of action” is a mixed question of fact and law. It has consist...

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ULIPS: New Regulatory & Tax Regime

NA 26/06/2010

The tug of regulatory war over unit linked insurance plans (ULIPs) has ended with regulatory regime to be retained with insurance regulatory body (IRDA). The Central Government has promulgated an Ordinance (legislation) to the effect that ULIPs shall be regulated by IRDA only, thus ending the ongoing claims by both regulators- SEBI and I...

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Unnecessary Litigation Clogging the Wheels of Justice

It is well known that the government is the largest litigant in the courts. It is less known that it starves the judiciary of funds. It is even less known that it chokes the courts with unnecessary suits. The last one frequently invites drubbing from the Supreme Court. Two judgments delivered last week analyse the psychology of bureaucrat...

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Posted Under: Corporate Law |

ITAT subject to RTI though case details cannot be disclosed without applicant showing public interest

Rakesh Kumar Gupta Vs. ITAT (No. 2) (CIC)

The Applicant sought from the CPIO, ITAT, inspection of records relating to appeals of Escorts Limited & another and information on how third parties can become interveners and inspection of records relating to s. 4 RTI compliance. Information on the procedure to make vigilance complaints was also sought....

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Posted Under: Corporate Law |

Judicial records held by the Income-Tax Appellate Tribunal are within the purview of the Right to Information Act

"We cannot accept the argument that because the information held by ITAT is in the form of only judicial record, such record is outside the purview of the RTI Act. The Supreme Court of India and High Courts, all have rules for disclosure of information both administrative and judicial....

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Posted Under: Corporate Law |

IRDA to frame new guidelines for unit-linked insurance policies (ULIPs)

NA 25/06/2010

After winning the turf war with market watchdog Sebi on ULIPs, insurance regulator Irda on Monday said it would frame new guidelines for these products to make them more attractive for policy holders. "Certainly, yes," Insurance Regulatory and Development Authority chairman J Hari Narayan told PTI when asked whether the insurance regulato...

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Unit-linked insurance plans (ULIPs) set to see commission cuts

NA 24/06/2010

The Centre has amended as many as four laws to take the controversial unit-linked insurance plans (ULIPs) out of an ugly courtroom spat between the stock market regulator and the insurance regulator.And now, the Insurance Regulatory and Development Authority (IRDA) appears set to overhaul ULIP guidelines, industry sources said on Sunday....

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IRDA proposed mandatory life cover with pension products

NA 24/06/2010

As the row over investment-cum-insurance product came to an end, life insurers got another big relief on pension plans, which now would come with minimum guarantee. Recently, the Insurance Regulatory and Development Authority (IRDA) had proposed a mandatory life cover with pension products, which had created an uproar in the industry....

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In the absence of specific provision in the income-tax law SEZs migrating to other zones may face tax hurdles

There is no specific provision in the income tax law to deal with the migration situation and hence the tax authorities at the ground level could take any view — either allow the migrated unit to enjoy tax holiday for the unexpired period or deny the tax holiday for the remaining period, sources in the Finance Ministry said....

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Posted Under: Corporate Law |

Mediclaim policyholders will soon be able to switch their health cover providers

NA 23/06/2010

Mediclaim policyholders, who are not satisfied with the service of their existing service providers, will be able to switch to another insurer soon without any change in the premium outgo.However, this facility will be available to those policyholders who are insured for a sum of Rs 1 lakh and above, to begin with....

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Corporate Law News

Corporate law deals with the operations and formation of corporations and is related to contract and other commercial law. Corporations are legal entities which are created through the incorporation laws of the state, the corporation is a legal and a distinct person which can sue and can be sued, separate from the stockholders. Until a corporation formally dissolves, it has a perpetual life; the demise of its stockholders or officials does not amend the structure of the corporation. Creation, operation, and their dissolution are governed by several laws such as the Company Law, Insolvency and the Bankruptcy law, Real Estate law, Gratuity Act, Minimum wages Act, Negotiable Instrument Act, Essential Commodities, SRFAESI Act, Competition Act, FDI Regulations etc.

At Taxguru, we provide you the latest corporate law news and corporate law articles. Learn about all the important developments in the corporate laws with our extensive coverage of the latest news on corporate law. Our group of expert law professionals provides a cohesive and comprehensive understanding of all the Indian corporate and other allied laws. At Taxguru, we cover all the aspects of corporate law and all the major laws and regulations as mentioned above. We regularly post blogs and articles on corporate law for the benefit of our viewers. Keep a track of all the significant notifications and updates on corporate law with us. Get to know more on the corporate law here at Taxguru.

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