Merger procedures may soon become easier for India Inc. The Government is planning to come up with an ordinance to do away with the process of sanction by the Competition Commission of India (CCI) for small-ticket mergers and acquisitions. The ordinance will also ensure that the CCI takes a decision on an M&A application within 180 days, significantly down from the current 210 days.
New Delhi: The Bar Council of India (BCI), a statutory body of advocates, today decided not to permit foreign lawyers or their firms to practise in India, but assured that a more detailed and rational scrutiny of the subject would be done soon.
The Supreme Court on Monday refused to offer any immediate relief to Vodafone, which has challenged the Bombay High Court order allowing the government to tax the company’s $11 billion deal with Hutch. The tax department had raised a demand for Rs 12,000 crore (Rs 120 billion) as tax on the 2007 deal. While refusing to stay the high court order, the apex court issued notices to the tax authorities directing them to decide within four weeks the liabilities of Vodafone.
The Limited Liability Partnership Act, 2008 (LLP Act) was notified on April 1, 2009. With the passing of this Act, a new hybrid entity, incorporating the features of both- a body corporate, as well as a traditional partnership-can be formed for the purposes of undertaking business in India. The LLP has not yet been recognized under FDI policy. The LLP structure lies between that of a company where FDI is permitted and that of a partnership, where it is generally not permitted. Key features of an LLP, as well as a comparison between the other existing ownership structures, are provided in the Annexure.
The Finance Ministry is believed to have agreed to modify its notification for exempting from tax the entire 9.5 per cent interest on provident fund deposits for 2010-11, and will soon announce the good news for EPFO’s six crore depositors.
Sub: Extension of Common Proficiency Course (CPC) registration date till 4th October, 2010. In view of the closure of banks on account of half yearly closing on 30th September, 2010, last date for registration to Common Proficiency Course (CPC) is extended upto 4th October, 2010 for being eligible to appear in the Common Proficiency Test […]
As per the Chartered Accountants Regulations, 1988 a candidate shall be registered for the Common Proficiency Test (CPT) if he has passed class 10th examination conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto. Further, no candidate shall be admitted to the Common Proficiency Test (CPT) unless he is registered with the Board of Studies of the Institute and has appeared in the senior secondary examination (10+2) conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto and has complied with such requirements as may be specified by the Council from time to time.
Allahabad HC rules by majority that disputed land in Ayodhya be divided into 3 parts, say lawyers. Land to be distributed among Waqf Board, Nirmohi Akhara, party for `Ram Lalla’, say lawyers. Status quo will be maintained at the disputed site in Ayod
A decision of the EPF Appellate Tribunal, North Delhi, that the term “employee” was defined in the Payment of Bonus Act as regular workers which included apprentices, was upheld by the Madurai Bench of the Madras High Court. Rejecting the contention
Following is the Exposure Draft of the Schedule XIV to the Companies Act, 1956, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments. This Exposure Draft is in accordance with the IFRS converged Accounting Standards being formulated by the ICAI. The Board invites comments on any aspect of […]
