Government Policy

Section 35G of Central Excise Act, 1944 : Substantial Question of Law

Fema / RBI - An appeal to the High Court is not automatic. The condition precedent for entertaining an appeal is the satisfaction of the High Court of the case involving a substantial question of law. ...

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Payment Wallet for NBFCs

Fema / RBI - With the ever improving world of technology, the various mobile payment methods are becoming a preferred mode of payment for a large number of consumers. Amongst the popular payment methods, Mobile-Wallets are the ones that have gained momentum....

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Legal Entity Identifier (LEI) – A MANDATE IN THE FUTURE

Fema / RBI - Legal Entity Identifier (LEI) Introduction 1. A Legal Entity Identifier (or LEI) is a 20-character identifier that identifies distinct legal entities that engage in financial transactions. 2. It is defined by ISO 17442. 3. The LEI is a global standard, designed to be non-proprietary data that is freely accessible to all. As of October 201...

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Debt – A Hurdle in Growth

Fema / RBI - India is developing nation which is steadily progressing on planned track of development.  India is continuously facing some basic hurdles .i.e. External Debt, Poverty, Excessive population, etc. however we belong to the country having sufficient and appropriate resources but as we know “A money in saving account is immaterial until it...

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Nature of Hybrid Securities: Debt or Stock?

Fema / RBI - Traditionally, corporate securities were categorized into two either stocks or debts. This means that a transaction in the company’s security either created increased company’s assets or incurred a liability to the company....

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RBI Autonomy within RBI Act Framework is essential governance requirement

Fema / RBI - The autonomy for the Central Bank, within the framework of the Reserve Bank of India (RBI) Act, is an essential and accepted governance requirement. The Government asked RBI for a review of its Economic Capital Framework (ECF) adopted in 2016....

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CBIC to notify WON and TRY in list of currencies for exchange rate

Fema / RBI - Under section 14 of the Customs Act, 1962, Central Board of Indirect Taxes and Customs (CBIC) notifies the rate of exchange for the purpose of conversion of foreign exchange to Indian Rupees and vice versa for assessment of imports & exports....

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Discussion Paper on 3 ‘S’ of Climate changes released

Fema / RBI - Ministry of Finance releases Discussion Paper entitled 3 Essential S of Climate Finance - Scope, Scale and Speed: A Reflection on the sidelines of COP 24 in Katowice, Poland ...

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Dr. Ajay Bhushan Pandey takes over as Revenue Secretary

Fema / RBI - Ministry of Finance Dr. Ajay Bhushan Pandey takes over as Revenue Secretary Posted On: 30 NOV 2018 Dr. Ajay Bhushan Pandey (IAS: MH 1984) took over as the Union Revenue Secretary upon superannuation of Dr Hasmukh Adhia here today. Outgoing Finance Secretary & Revenue Secretary, Dr Hasmukh Adhia welcomed Dr Pandey in his office. A [&he...

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Quadricycles notified as Non Transport Vehicles

Fema / RBI - Ministry of Road Transport and Highways has notified the insertion of the item ‘Quadricycle’ as a ‘non transport’ vehicle under the Motor Vehicles Act 1988. ...

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Collecting parking fee by malls illegal : Gujarat HC issues notice (Read PIL)

Sajeev Bhargav Ezhava Vs. Versus State Of Gujarat (Ahmedabad High Court) - Petitioner Sajeev Ezhava, filed public interest litigation before Hon’ble Gujarat High Court contending that the parking fee collected by malls and commercial establishments is illegal and against the basis of exempting them from municipal taxes. ...

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Hotels / restaurants can Sale mineral water above MRP: SC

Federation of Hotel and Restaurant Association of India (Supreme Court of India) - Federation of Hotel and Restaurant Association of India (Supreme Court of India); Hon’ble SC held that that neither the Standards of Weights and Measures Act, 1976 read with the enactment of 1985, or the Legal Metrology Act, 2009, would apply so as to interdict the sale of mineral water in hot...

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Text of ICJ Judgment in the case of Kulbhushan Jadhav

Jadhav Case - India V. Pakistan (International Court Of Justice) - In the present case, the Applicant claims that Mr. Jadhav, who is an Indian national, was arrested, detained, tried and sentenced to death by Pakistan and that, despite several attempts, India was given no access to him and no possibility to communicate with him....

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Charging Vat on discounted MRP is unfair Trade Practice: NCDRC

M/s. Aero Club (Woodland) Vs Rakesh Sharma (NCDRC) - Once it has come on record that the MRP of the product includes all taxes, it was not open for the trader to impose VAT again on the discounted price....

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Notifications should not allowed to be missile attacks on budding industries

Shree Cement Ltd. Vs State of Rajasthan (Rajasthan High Court) - Another caveat on legislative practices, particularly subordinate legislation and executive policy decisions and the decision making process, which is amenable to judicial review by courts is that, it is high time that subordinate legislations in the form of notifications issued by Executive should ...

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Fugitive Economic Offenders (Receipt and Management of Confiscated Properties) Rules, 2018

Notification No. G.S.R. 397(E) - (24/04/2018) - (1) These rules may be called the Fugitive Economic Offenders (Receipt and Management of Confiscated Properties) Rules, 2018. (2) They shall come into force on the date of their publication in the Official Gazette....

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Fugitive Economic Offenders (Issuance of Provisional Attachment Order) Rules, 2018

Notification No. G.S.R. 395(E) - (24/04/2018) - (1) These rules may be called the Fugitive Economic Offenders (Issuance of Provisional Attachment Order) Rules, 2018. (2) They shall come into force on the date of their publication in the Official Gazette....

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Fugitive Economic Offenders (Issuance of Attachment Order) Rules, 2018

Notification No. G.S.R. 394(E) - (24/04/2018) - (1) These rules may be called the Fugitive Economic Offenders (Issuance of Attachment Order) Rules, 2018. (2) They shall come into force on the date of their publication in the Official Gazette....

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Fugitive Economic Offenders (Application for Declaration of Fugitive Economic Offender) Rules, 2018

Notification No. G.S.R. 393(E) - (24/04/2018) - (1) These Rules may be called the Fugitive Economic Offenders (Application for Declaration of Fugitive Economic Offender) Rules, 2018. (2) They shall come into force on the date of their publication in the Official Gazette....

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Administrator appointed under Fugitive Economic Offenders Ordinance, 2018

Notification S.O. 1730 - (24/04/2018) - Central Government appoints under Fugitive Economic Offenders Ordinance, 2018 the Special Directors of Enforcement of the Regional Offices of the Directorate of Enforcement to perform the functions of an Administrator....

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Recent Posts in "Government Policy"

RBI Autonomy within RBI Act Framework is essential governance requirement

The autonomy for the Central Bank, within the framework of the Reserve Bank of India (RBI) Act, is an essential and accepted governance requirement. The Government asked RBI for a review of its Economic Capital Framework (ECF) adopted in 2016....

Read More
Posted Under: Corporate Law |

CBIC to notify WON and TRY in list of currencies for exchange rate

Under section 14 of the Customs Act, 1962, Central Board of Indirect Taxes and Customs (CBIC) notifies the rate of exchange for the purpose of conversion of foreign exchange to Indian Rupees and vice versa for assessment of imports & exports....

Read More
Posted Under: Corporate Law |

Section 35G of Central Excise Act, 1944 : Substantial Question of Law

An appeal to the High Court is not automatic. The condition precedent for entertaining an appeal is the satisfaction of the High Court of the case involving a substantial question of law. ...

Read More
Posted Under: Corporate Law |

Payment Wallet for NBFCs

With the ever improving world of technology, the various mobile payment methods are becoming a preferred mode of payment for a large number of consumers. Amongst the popular payment methods, Mobile-Wallets are the ones that have gained momentum....

Read More
Posted Under: Corporate Law |

Legal Entity Identifier (LEI) – A MANDATE IN THE FUTURE

Legal Entity Identifier (LEI) Introduction 1. A Legal Entity Identifier (or LEI) is a 20-character identifier that identifies distinct legal entities that engage in financial transactions. 2. It is defined by ISO 17442. 3. The LEI is a global standard, designed to be non-proprietary data that is freely accessible to all. As of October 201...

Read More
Posted Under: Corporate Law |

Debt – A Hurdle in Growth

India is developing nation which is steadily progressing on planned track of development.  India is continuously facing some basic hurdles .i.e. External Debt, Poverty, Excessive population, etc. however we belong to the country having sufficient and appropriate resources but as we know “A money in saving account is immaterial until it...

Read More
Posted Under: Corporate Law |

Nature of Hybrid Securities: Debt or Stock?

Traditionally, corporate securities were categorized into two either stocks or debts. This means that a transaction in the company’s security either created increased company’s assets or incurred a liability to the company....

Read More
Posted Under: Corporate Law |

Discussion Paper on 3 ‘S’ of Climate changes released

Ministry of Finance releases Discussion Paper entitled 3 Essential S of Climate Finance - Scope, Scale and Speed: A Reflection on the sidelines of COP 24 in Katowice, Poland ...

Read More
Posted Under: Corporate Law |

Provision Of Status Holder – Under Foreign Trade Policy

Chapter 3 of the FTP 2015-20  contains the provision of Status Holder. Status Holders are business leaders who have excelled in international trade and have successfully contributed to country’s foreign trade. Status Holders are expected to not only contribute towards India’s exports but also provide guidance and handholding to new e...

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Posted Under: Corporate Law |

Registration under Niti Aayog: FAQ & Procedure

As you are aware, now all Voluntary Organization/Non Government Organization are mandatory to register under Niti Aayog for receiving grants under various schemes of Ministries/ Departments/Government Bodies. To achieve the purpose of easy of doing business and other social benefits that contributes to the nation building activities, a de...

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Posted Under: Corporate Law |

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