Message by the President of ICWAI

President Communiqué May, 2011 To exist is to change, to change is to mature, to mature is to go on creating oneself endlessly. Patience is bitter but its fruit is sweet. - Anonymous Dear Professional Colleagues, It gives me immense pleasure to share with you the growth story of India which is gaining momentum and… Read More


2G scam : No One will be spared : SC

The Supreme Court Bench directed the IT department to submit the action taken report against tax evaders on May 13,the next date of hearing in case of 2G scam. A bench of justices G S Singhvi and A K Ganguly assured the petitioners that no person, irrespective of their chair and wealth, could get immunity… Read More

Tags: 2G scamTelecom

India prepares for Madrid System of Trademarks – Register or Lose your Brand Name

The Controller General of Patents PH Kurian has announced that India will join the Madrid System of Trademarks within one year, setting off a warning to Indian companies to 'register it, or lose it' as far as their brand names are concerned. India had been negotiating with the World Intellectual Property Organization (WIPO) to join… Read More

Tag: Trademark

Infringement of Trademark in case of Deceptively similar marks

  M/S MAHASHIAN DI HATTI LTD. Vs. MR. RAJ NIWAS, PROPRIETOR OF MHS MASALAY Brief Background of the case:- The Plaintiff company is engaged in the business of manufacturing and selling spices & condiments, which are being sold under its registered logo (comprising "MDH" within three hexagon device, on red colour background) and  is registered  since 31st May, 1991… Read More

Tag: Trademark

Cost Audit Order for Drugs, Fertilizers, Sugar, Petro, Electricity, Telecom, Alcohol Industries

( COST AUDIT ORDER ON SPECIFIC INDUSTRIES) F. NO. 52/26/CAB-2010; Dated the 2nd May, 2011 Ministry of Corporate Affairs - Cost Audit Branch CLR Note: The companies as per the circular dated 11.04.2011 where required to appoint Cost Auditor, thus with regard to the same order has been passed for specific industries to implement the same… Read More

Cost Audit Order for Cement, Tyres, Tubes, Steel Tubes, Steel Pipes, Paper Industries

F. NO. 52/26/CAB-2010;  Dated the 3th May, 2011 Ministry of Corporate Affairs - Cost Audit Branch CLR Note: An order has been passed directing all companies to which the rules specified herein are applicable and their aggregate value of turnover made from sale or supply of all products or activities during the immediately preceding financial year exceeds Rs.… Read More

Bank penalised by RBI for not following KYC / AML norms

The Reserve Bank of India has  imposed the monetary penalty Rs.  5.00 lakh (Rupees five lakh only) on Ahmedabad District Central Co-operative Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating guidelines issued by Reserve Bank of India… Read More

Whether Mens Reas necessary for Crimes by Companies

Whether Mens Reas is necessary for Crimes by Companies - Mens Rea means "Guilty Mind". Can a Company, which is an artificial person have a Guilty Mind? Hemanth beautifully provides an account in his Article below. The Hon™ble Supreme Court in Iridium India Telecom Ltd V Motorola Incorporated & Ors., had held that, the Companies… Read More

Tag: criminal law

Compulsory attendance in Professional Development Programmes of ICSI

Compulsory Attendance of Professional Development Programmes by the Members The Council of the Institute at its 200th Meeting held on March 18, 2011 at New Delhi amended the Guidelines for Compulsory Attendance of Professional Development Programmes by the Members to provide as under:- Next block of three years April 01, 2011 to March 31, 2014… Read More

RBI Policy Guidelines for issuance and operation of Prepaid Instruments in India

RBI/2010-11/512 DPSS.CO.No.2501/02.14.06/ 2010-11 May 4, 2011 All System Providers, System Participants And Prospective prepaid Instrument Issuer Madam/ Dear Sir Policy Guidelines for issuance and operation of Prepaid Instruments in India. A reference is invited to Para 124 of the Monetary Policy statement (2011-2012) on the issue of mobile based semi-closed prepaid payment instruments.  Attention is also… Read More

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