Daily Archives: August 1, 2016

Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) bill 2016.

By | August 1, 2016

Bill No. 144 of 2016 THE ENFORCEMENT OF SECURITY INTEREST AND RECOVERY OF DEBTS LAWS AND MISCELLANEOUS PROVISIONS (AMENDMENT) BILL, 2016 Date of Introduction 11/05/2016  (Lok Sabha) Further to amend the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Recovery of Debts due to Banks and Financial Institutions Act, 1993, the Indian Stamp… Read More »

Competition Commission imposed penalty of Rs 72.96 cr on Lupin & Rs 8.60 Lakh on KCDA

By | August 1, 2016

Competition Commission of India Imposes Penalty on Karnataka Chemists & Druggist Association and pharmaceutical company Lupin The Competition Commission of India (‘Commission’) has found the Karnataka Chemists and Druggist Association (‘KCDA’) and Lupin Ltd. (‘Lupin’) to be in contravention of the provisions of the Competition Act, 2002 (‘the Act’). In a case filed by M/s… Read More »

Govt 340 Action points on ease of doing Business in India

By | August 1, 2016

Report on ease of doing Business             A 340 Action points has been circulated to all State Governments and Union Territory Administrations with a request to implement the same by 30th June 2016 and upload the implementation report by 7th July 2016 on Ease of Doing Business dashboard of Department of Industrial Policy and Promotion.… Read More »

Strict Law to deal with Child Labour employment notified :Takeaway

By | August 1, 2016

Child Labour (Prohibition & Regulation) Amendment Act 2016 Key Takeaway from Child Labour Prohibition & Regulation Amendment Act 2016 This act  prohibit the engagement of children in all occupations and to prohibit the engagement of adolescents in hazardous occupations and processes and the matters connected therewith or incidental thereto.”. As per Child Labour (Prohibition & Regulation ) Amendment… Read More »

Child Labour (Prohibition and Regulation) Amendment Act 2016

By | August 1, 2016

Child Labour (Prohibition and Regulation) Amendment Act, 2016. THE GAZETTE OF INDIA EXTRAORDINARY [PART II— MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 30th July, 2016/Shravana 8, 1938 (Saka) The following Act of Parliament received the assent of the President on the 29th July, 2016, and is hereby published for general information:— THE… Read More »

Aadhaar Facilities ; Digi-locker, eSign, eNPS, e-Hospital,ITR e-verification

By | August 1, 2016

Residents Advised to Register or Update Mobile for Easy Online access of Government Services Unique Identification Authority of India (UIDAI) has advised the residents to register or update their mobile number in Aadhaar for easy access of various government services online. Dr. Ajay Bhushan Pandey, Chief Executive Officer, UIDAI, said, “People can avail various government… Read More »

RBI Guidelines for ‘ on tap ‘ Licensing of Universal Banks in Private Sector

By | August 1, 2016

The Reserve Bank of India today released on its website, “Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector”. Date : Aug 01, 2016 Some of the key aspects of the Guidelines include: (i) resident individuals and professionals having 10 years of experience in banking and finance at a senior level are… Read More »

FORM NCLAT-5 as per NCLAT Rules 2016

By | August 1, 2016

FORM NCLAT-5 IN THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL [See Rule 70] Certification when deponent is unacquainted with the language of the affidavit or is blind or illiterate. Contents of the affidavit were truly and audibly read over/translated into . . . . . language known to the deponent and he seems to have understood… Read More »

FORM NCLAT-3 as per NCLAT Rules 2016

By | August 1, 2016

FORM NCLAT-3 [See Rule 59] Pending/Disposed of IN THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL New Delhi Application No. in of 20 . . . . . . . . . Applicant/s/3rd party/Appellant/Petitioner vs Respondent/s Application for Inspection of Documents/Records under Rule 60 I hereby apply for grant of permission to inspect the documents/records in the… Read More »

FORM NCLAT-1 as per NCLAT Rules 2016

By | August 1, 2016

FORM NCLAT-1 [See Rule 22] Memorandum of Appeal Preferred under Section 421 of The Companies Act, 2013 IN THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL AT NEW DELHI APPELLATE JURISDICTION APPEAL NO. . . . . OF 20— CAUSE TITLE Between A.B ……………Appellant (s) And CD ……………Respondent(s) [including appropriate commission/adjudicating officer ] (with short address )… Read More »

NCLAT appeal filing procedure as per NCLAT Rules 2016

By | August 1, 2016

NCLAT appeal filing procedure NCLAT appeal filing procedure as per National Company Law Appellate Tribunal Rules, 2016 notified on 21.07.2016 Sitting of Appellate Tribunal: The Appellate Tribunal shall hold its sitting at its headquarters in New Delhi. Sitting hours of the Appellate Tribunal :The sitting hours of the Appellate Tribunal shall ordinarily be from 09.30 AM. to… Read More »

National Company Law Appellate Tribunal Rules 2016

By | August 1, 2016

NATIONAL COMPANY LAW APPELLATE TRIBUNAL RULES, 2016 NOTIFICATION [F.NO.1/30/NCLAT/CL-V/2013] DATED 21-7-2016 In exercise of the powers conferred by section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely:- Short title and commencement 1. (1)These rules may be called the National Company Law Appellate Tribunal Rules, 2016.… Read More »

Club membership fee paid for employee is admissible business expenditure

By | August 1, 2016

IN THE ITAT MUMBAI BENCH ‘F’ Foods and Inns Ltd. v. Assistant Commissioner of Income-tax, Circle 10(2), Mumbai JASON P. BOAZ, ACCOUNTANT MEMBER AND SANDEEP GOSAIN, JUDICIAL MEMBER IT APPEAL NOS. 1262/MUM/2011, 6629/MUM./2012 & 6271/MUM./2014 [ASSESSMENT YEARS 2007-08, 2009-10 & 2010-11] JUNE  7, 2016 Keshav B. Bhujle for the Appellant. G.M. Doss and S.R. Kirtane… Read More »