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DGFT makes Amendment in Para 2.33 of Handbook of Procedure Vol.I, 2009-2014
TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-1, SECTION-1 GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE NO. 50 (RE 2012)/2009-2014 NEW DELHI, DATED THE 28th FEBUARY, 2013 Subject : Amendment in Para 2.33 of Handbook of Procedure Vol. I, 2009-2014. In exercise of powers conferred under paragraph… Read More
CCGRT (ICSI) jointly with IMC organises a full day program on Growth Outlook for MSMEs in India
Background: Small and Medium Enterprises play an important role as a growth engine of Indian economy. SMEs produce 40% of the total industrial output, contribute 40% of total exports and provide 70% of the employment opportunities. SMEs are the driving force behind a large number of innovations and contribute to the National growth through employment… Read More
Successive cheque dishonours also permissible as long as it satisfies the requirements of Section 138 of the Negotiable Instruments Act
CLR Editorial Notes: In the matter of dishonor of cheques and cognizance taken by courts thereof, the Supreme Court has held that hold prosecution based upon second or successive dishonour of the cheque is also permissible so long as the same satisfies the requirements stipulated in the proviso to Section 138 of the Negotiable Instruments… Read More
Centre notifies award of the Cauvery Water Disputes Tribunal
Cauvery Water Disputes Tribunal The Centre has notified the award of the Cauvery Water Disputes Tribunal on 19.2.2013. Section 6 of the Inter State River Water Disputes Act, 1956 mandates the Central Government to publish the decision of the Tribunal in the Official Gazette. Therefore, in exercise of this power as well as on the… Read More
RBI Publishes Report on Currency and Finance 2009-12 on Fiscal-Monetary Co-ordination
The Reserve Bank of India released today its Report on Currency and Finance, 2009-12 on Fiscal-Monetary Co-ordination. The Report on Currency and Finance, a staff research report, has focused on select themes since 1998-99. The theme for this Report assumes importance in the light of renewed focus on fiscal-monetary co-ordination across advanced economies and emerging… Read More
Application for interim relief in a Foreign Seated International Commercial Arbitration, not maintainable under Section 9
CLR Editorial Notes: A Constitutional Bench of the Supreme Court in September 2012 has delivered a landmark judgment in Bharat Aluminium Co v Kaiser Aluminium Technical Services Inc which overrules the doctrine laid down by the Supreme Court in Bhatia International v Bulk Trading S.A. (Bhatia International). In Bhatia International, the Supreme Court had held that Part I of… Read More
Negative Covenants in an Agreement can be enforced only during the Pendency of the Contract and not beyond
CLR Editorial Notes: The Appellant/plaintiff has in the present case appealed against the order of a single bench judge. The suit was filed for the enforcement of the Non-Disclosure agreement which restricts the respondent from quoting directly to the appellant's customers, after the termination of the agreement. The two bench judge upheld the order of the… Read More
Agreement for sale or an agreement to sell itself does not create any interest or charge
CLR Editorial Notes: In the said judgment, while examining the ambit and scope of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (for short, the 'Act of 1985') and its overriding application over the provisions of Transfer of Property Act, 1882 (for short, the 'Act of 1882'), with particular reference to Section… Read More
U/s 73(1) of the Companies Act, organizations have to make an application for SE listing before issuing OFCDs
CLR Editorial Notes: This refers to the OFCD subscription offer made by Sahara Group and the subsequent litigation by SEBI in lieu of non-compliance and intentional bypass of SEBI Guidelines. The Sahara Companies, issued that the invitation/offer to subscribe to the OFCDs 3 crore persons (expressed as 30 million persons by the SAT), through 10 lakh… Read More
Special Focus on Green Revolution in 2013-14
Finance Minister Proposes Special Focus on Green Revolution in 2013-14; Outlay Increased to Boost Agriculture Production An allocation of Rs. 1000 crore has been proposed in the budget 2013-14 to continue support to the new green revolution in Eastern States like Assam, Bihar, Chhattisgarh and West Bengal to increase the rice production. An outlay of… Read More
Seven New Cities Planned on Delhi Mumbai Industrial Corridor
Seven New Cities Planned on Delhi Mumbai Industrial Corridor(DMIC) A Chennai Bengaluru Industrial Corridor Being Planned The Finance Minister, Shri P Chidambaram in his Budget speech in Lok Sabha today said that the Delhi Mumbai Industrial Corridor (DMIC) project has made rapid progress. Plans for seven new cities have been finalized and work on two… Read More
Government Announces Fund for Products Based on Science and Technology Innovations
Government plans to pay more attention to science and technology for common man. Ministry of Science and Technology, Ministry of Finance and the Principal Scientific Advisor to the Government have identified a few amazing S&T innovations and the Government has decided to fund organizations that will scale up and make these products available to the… Read More
Wind Energy Projects to be provided incentives and Funding under National Clean Energy Fund
Generation-Based Incentive for Wind Energy Projects Announced The Government is proposing to provide Rs. 800 crore for the Ministry of New & Renewable Energy for generation-based incentive for wind energy projects as the non-conventional wind energy sector deserves incentives. Shri Chidambarm hinted at evolving a scheme to encourage cities and municipalities to take-up waste-to-energy projects… Read More
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