Others - Corporate Law Reporter

ICSI organising Campus Placements for Members & Students on 30th April 2011

The Institute of Company Secretaries of India is organizing a Campus Placement for the fresher members for job placement and for students for their 15 Months Training on Saturday, the 30th April, 2011 at NOIDA office of ICSI, C-37,Sector 62, NOIDA-201301. Process to be followed for Campus Placement scheduled to be held on 30th April 2011 is… Read More

Withdrawal of Withdrawal Application Permissible SC

By Narendra Sharma, Consultant (Legal) Recently, hon™ble Supreme Court in RAJENDRA PRASAD GUPTA V. PRAKASH CHANDRA MISHRA & ORS. {(2011) 2 SCC 705 = 2011 (1) SCALE 469; Civil Appeal No(s). 984 of 2006-Decided on 12-01-2011} has held as follows. 2. ¦¦¦¦.Rules of procedure are handmaids of justice. Section 151 of the Code… Read More

Beg to Differ SC Judgment in Sita Ram Gupta Vs Punjab National Bank and Ors

By Narendra Sharma, Consultant (Legal) 1. Introduction Recently, a 2 judge bench of hon™ble Supreme Court in Sita Ram Gupta Vs. Punjab National Bank and Ors {(2008) 5 SCC 711, Appeal (civil) 1878 of 2008, Date of judgment: 10/03/2008} held as follows (in para 8): 8¦¦¦¦we hold that in view of the nature of… Read More

Arbitration Clause in General Insurance Policies A Legal Gimmick to Avoid Liability

Author: Narendra Sharma, Consultant (Legal) E-mail: nkdewas@yahoo.co.in If parties to a contract have agreed to something unreasonable, they should be treated as if they have not agreed at all and be released. This happens in the case of general insurance contracts and is dealt with here in the light of a recent decision. Introduction… Read More

CBI official says Satyam investigation almost complete

The investigation into the over Rs 7,136-crore Satyam Computer Services financial fraud by the Central Bureau of Investigation is almost complete. The investigating agency had filed three charge-sheets in the case so far with a host of charges on the key accused Mr B. Ramalinga Raju, founder and former chairman of Hyderabad-based Satyam Computer, his… Read More

Silver shinning better than Gold

Silver seems to be shinning better than gold these days. It continues to rise to new highs, almost on a daily basis, and touched Rs70,000 a kg in India on Friday. Experts have failed to understand where the white metal is heading towards. During the last one year, silver price has unexpectedly increased by 149% or 2.5… Read More

Forbes Global 2000 List of Public Companies : 57 Indian Cos. make it to the List

57 Indian companies figure in The Forbes Global 2000 list of public companies based on their rankings for sales, profits, assets and market value. In total, the Global 2000 companies now account for $32 trillion in revenues, $2.4 trillion in profits, $138 trillion in assets and $38 trillion in market value. These firms also employ… Read More

CA students to be given 15 minute reading time before exams

Provision of 15-minutes reading and planning time allowance to the candidates of CA Examinations (Effective from May-2011 CA Examinations) The Council of the Institute, based on the recommendation of the Examination Committee has decided to allow 15-minute reading and planning time allowance to the candidates in the Chartered Accountants Examinations before the scheduled commencement of… Read More

No authentic figures for Black Money in Swiss Accounts – Finmin

Many NGOs and whistleblowers have complained to authorities that Indian money worth several thousands crore was illegally routed to many tax havens and urged government to take strict measures to put a bar on it. Finance Ministry admits it has "no authentic figures" about the quantum of black money deposited in Swiss banks. It is… Read More

Partners deemed guilty U/s 138 unless proven otherwise

When Directors of a Company or partners of a firm issue cheques which are dishonoured, it is presumed that they were responsible for issuing them unless they prove that they were not in charge of the daily affairs of the firm. They have to discharge the burden during the trial under the Negotiable Instruments Act,… Read More

Watch Interview with Chairman, Competition Commission of India – Part 1

The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws. The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India. The objectives… Read More

Companies to seek Competition Commission approval before Takeovers

Competition watchdog Competition Commission of India (CCI) today said that it will finalize the rules and regulations on merger and acquisition (M&A) provisions by the end of April, a development that would make it mandatory for companies to seek the commission's approval before takeovers. The regulations regarding the forms which are to be applied for… Read More

Right to Property is a Constitutional Right: Upholds Supreme Court

A bench of justices G S Singhvi and A K Ganguly said in a judgement that courts should view with "suspicion" the action of the government in acquiring land for private parties in the name of urgency. The Supreme Court today said the right to property is a constitutional right and government cannot deprive a… Read More