K.E.Burgmann A/S Versus H.N.Shah & Ors (Delhi HC) – This is a suit for grant of permanent injunction, rendition of accounts, delivery up of the infringing material and damages. Plaintiff No. 1 is a company registered in Denmark whereas plaintiff No. 2 is a subsidiary of plaintiff No.1 and is registered in India. Plaintiff No. 1 company was founded by Mr. Keld Ellentoft for developing, designing and manufacturing, fabric, elastomer and fluropolymer expansion joints/compensators, which are installed to accommodate thermal expansion/contraction of the ducting system due to rise and fall in temperature and claims to be a well known manufacturer of these products carrying business in several countries including U.K., Scandinavian countries,
The toppers of Chartered Accountants Final Examinations held in May, 2011 are from Bikaner, Mumbai and Pune. The details of the top three rank holders on all India basis for Chartered Accountants Final along with the marks secured by them are mentioned at Annexure-A. The result analysis of the Final examination in terms of gender wise and region wise pass percentage is mentioned at Annexure-B. The toppers of Common Proficiency Test (Paper-Pencil Mode) held on 19th June, 2011 are from Tirupathi, Pune, Hyderabad, Guntur (Andhra Pradesh), Mumbai & Amritsar (Punjab).
The Central Bureau of Investigation has registered a case against a Joint Commissioner; an Assistant Commissioner; four Supdts & one Inspector of Central Excise of Thiruvananthapuram Airport and one clearing agent for cheating and allegedly obtaining illegal gratification.
In a major haul, the city’s tax department has detected tax evasion in undeclared sale of diamonds worth Rs 5,150 crore which were imported through the Delhi airport. Teams from trade and taxes department carried out raids at premises of 29 importers and dealers of diamond across the city and discovered the evasion of VAT to the tune of more than Rs 100 crore.
Retirement fund manager EPFO will seek the legal opinion on implementation of the order of the MP High Court throughout the country under which employers and employees will be required to increase their contributions to the provident fund. ‘We will seek legal opinion and also the opinion of Ministry of Law and Justice Ministry, through Labour Ministry, on the MP High Court order throughout the country,’ Central Provident Fund Commissioner Samirendra Chatterjee said.
Rationale of Equity Caps -The FDI equity caps in a sector essentially reflect the levels of control that a foreign direct Investor is permitted to exercise in a company operating within that sector. The FDI policy incorporates equity caps at broadly four levels- 26%, 49%, 51% and 74%[2]. These caps reflect the ownership/ control levels in a company, under the Companies Act, 1956. Thus, for example, any equity holding greater than 25% gives a right to block a ‘special resolution’. 49% equity represents a level just short of ownership. 51% signifies ownership and a right to pass all ordinary resolutions. 74% equity cap on FDI means that the Indian equity holders, acting in unison, can block a special resolution.
Union Finance Minister Shri Mukherjee has said that the capabilities against money laundering and terrorist financing should be strengthened by all nations to ensure an effective, efficient and more productive crusade against this menace.
The Appointments Committee of the Cabinet (ACC) has approved the appointment of Shri R.S. Gujral, IAS (HY:76), Secretary, Department of Revenue, Ministry of Finance as Finance Secretary and Secretary, Department of Revenue, Ministry of Finance.
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 6, 2011, Government has approved 31 Proposals of Foreign Direct Investment amounting to Rs. 3844.70 crore approximately.
Result of the Information Systems Audit [ISA] Assessment Test held on 18th June, 2011 declared. For Result Click here- -Merit List- ISA Merit List – Old Pattern
