Daily Archives: October 29, 2015

FAQ on Equity and Currency Derivatives

 Q1 What are Derivatives? The term “Derivative” indicates that it has no independent value, i.e. its value is entirely “derived” from the value of the underlying asset. The underlying asset can be securities, commodities, bullion, currency, live stock or anything else. In other words, Derivative means a forward, future, option or any other hybrid contract… Read More »

Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 19th October, 2015 Insurance Regulatory Development Authority of India (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s) Regulations, 2015 F.No.IRDAI/Reg/17/107/2015.—In exercise of the powers conferred by Section 3 read with 114A of the Insurance Act, 1938, and sections 14 read with… Read More »

Acquisition of Surrender and Paid Up Values under Life Insurance Policies

INSURANCE REGULATORY AND DEVELOPMENT  AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 16th September, 2015 Insurance Regulatory and Development Authority of India (Acquisition of Surrender and Paid Up Values) Regulations, 2015 F. No. IRDAI/Reg/15/105/2015.—In exercise of the powers conferred under Section 114 (A) of the Insurance Act, 1938 read with Section 26 of Insurance Regulatory and Development… Read More »

Target Plus Scheme to reduce benefit to exporter retrospectively Ulta virus : supreme Court

Notification No. 48/2005 dated February 20, 2006 and Notification No. 8/2006 dated June 12, 2006 amending ‘Target Plus Scheme’ under EXIM Policy/Foreign Trade Policy 2004-2009 to restrict/reduce benefit to exporter retrospectively from 1-4-2005 were ultra vires, as already accrued benefit cannot be taken away by retrospective amendment; therefore, the said notifications were read down to… Read More »

Flipkart not Dealer under Kerala VAT Act : HC

Flipkart  is merely facilitating sales, purchase and delivery of goods, it can’t be considered as dealer of goods under Kerala VAT Act HIGH COURT OF KERALA Flipkart Internet (P.) Ltd. v. State of Kerala A.K. JAYASANKARAN NAMBIAR, J. W.P. (C) NOS. 5348 AND 6916 OF 2015 OCTOBER  20, 2015 Joseph Vellappally, V. Abraham Markos, Binu… Read More »

SEBI ISSUED REGULATION FOR DISCLOSURES IN ABRIDGED PROSPECTUS

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, OCTOBER 27, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 27th of October, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (SEVENTH AMENDMENT) REGULATIONS, 2015 No. SEBI/ LAD-NRO/GN/2015-16/025 ─ In exercise of… Read More »

Home Department to take action against erring investigating Officers for prosecuting innocent person: Supreme Court

Supreme Court of India  State of Gujarat v. Kishanbhai Etc.  [Criminal Appeal No. 1485 of 2008], 7th January, 2014 The Court held that “every acquittal should ordinarily lead to the inference,that an innocent person was wrongfully prosecuted” and it is “therefore, essential that every State should put in place a procedural mechanism, which would ensure… Read More »