A three-judge Bench of the Supreme Court in A. Satyanarayana Reddy & ors. vs. Presiding Officer, Labour Court, Guntur & ors., has held that even though there is cessation of relationship between the employee and the employer, if the Voluntary Retirement Scheme does not cover past dues like lay-off compensation, subsistence allowance, etc., the workman […]
Read More »The Patna High Court on Friday struck down Bihar’s anti-liquor law, holding its provisions to be “clearly draconian and in excess of the balance need to be maintained”. Scrapping the state government’s notification issued on April 5, the Bench comprising Chief Justice Iqbal Ahmed Ansari and Justice Navaniti Prasad Singh observed that the same was […]
Read More »The Union Finance Minister Shri Arun Jaitley said that the Government is working on a target date of 1st April, 2017 for the roll out of the Goods and Services Tax (GST) in the country. He said that till 16th September, 2017, that is one year after the provisions of the Constitution (101st Amendment) Act, […]
Read More »The GST council, which will oversee the GST regime, is currently in deliberations over its own procedures and over the appropriate tax rate to prevent revenue shortfalls. It is already clear, however, that GST, once implemented, will, for the first time in India’s history, unify the nation into a common economic market, obviating the need […]
Read More »The Bankruptcy and Insolvency Code, 2016 proposes to consolidate a comprehensive insolvency legislation and would encircle all companies, partnerships and individuals. The code was passed by both the houses and it received President’s assent on 28th May, 2016. As on today, the bankruptcy in India is governed by various Acts: SARFAESI Act, Sick Industrial […]
Read More »EXEMPTIONS TO A PRIVATE LIMITED COMPANY S.No. Exemption and Interpretation Section Date of Applicability 1. DEFINITION OF RELATED PARTY RELAXED WITH RESPECT TO SECTION 188: Related Party does not include Holding, Subsidiary, Associate Company and sister concern(subsidiary of holding). Transactions entered with them and falling under section 188 does not require compliance of section […]
Read More »Synopsis of FCRA Amendments 2016 [Personal & Private Circulation bearing no opinion or advice] Recently there have been some changes in the Foreign Contribution Regulation Act 2010 (“FCRA”) and Foreign Contribution Regulation Rules (“FCRR”). The changes are as below: Consolidated Form for Registration, Prior Permission and Renewal of Registration: Earlier, Form FC-3 was used only […]
Read More »Companies Mediation and Conciliation Rules, 2016: (Notified on 09th September 2016) Regional Director (RD) shall prepare a panel of experts, in the month of February every year, who are eligible to be appointed as mediator or conciliator in the respective region and such panel shall be displayed on MCA website. For FY 2016-17, he […]
Read More »Rejecting a plea seeking ban on use of pellet guns in controlling street protests in Kashmir Valley, the Jammu and Kashmir High Court has cited the ground situation and observed that as long as there is violence by unruly mobs, use of force is inevitable. A bench comprising Chief Justice N Paul Vasanthakumar and Justice […]
Read More »The Allahabad High Court in Re vs. Pradhuman Kumar Srivastava and 9 Ors on Thursday convicted seven Advocates on charges of Contempt of Court. They were sentenced to six months of simple imprisonment and a fine of Rs 2,000 each The Judgment by Division Bench comprising Justice Sudhir Agarwal and Justice Shashi Kant delved into […]
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