Articles - Corporate Law Reporter

Repeated Retrospective Amendments

It is a fundamental principle of tax law is that the law which is to be applied has to be the once which is in force during the assessment year, unless provided otherwise expressly or impliedly.[1] This applies to charging sections and other substantive provisions but does not apply to procedural provisions,[2] but a procedural… Read More

Ignorance of Law is an excuse

IGNORANCE OF LAW IS AN EXCUSE SIVADAS CHETTOOR. B.COM FCA LL.M INTRODUCTION :- Law is all pervading. Almost all your actions are regulated by law except a few. We have all sorts of law like personal, family, civil, criminal, revenue, commercial, taxation, public and private international law and so on. Law can be statutory, customary,… Read More

Doctrine Of Lis Pendens :: A Critical Evaluation

An Article by Prarthna Baranwal, Student, Hidayatullah National Law University, Raipur INTRODUCTION The broad principle underlying S. 52 of the Transfer of Property Act is to maintain the status quo unaffected by the act of any party to the litigation pending its determination-even after the dismissal of a suit, a purchaser is subject to lis… Read More

CESTAT trashes CBEC Recovery Circular

Lawyers & Consultants are in mourning as their easy income is gone. Everyone who approached Courts was getting automatic stay against recovery notices sent by Department where stay applications in appeals were pending. First, Bombay High Court made it applicable to all, even if they did not approach Court. Now Bangalore CESTAT has done it.… Read More

Effect of Budget 2013-14 amendments under Service Tax on ˜Restaurants™

Applicability : As per Notification no. 25/2012 dated 20th June 2012 under Service Tax regulations, Services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, other than those having (i) the facility of air-conditioning or central air-heating in any part of the establishment, at any time during the… Read More

Balco Judgment: A balancing act – Domestic vs Foreign Arbitrations

The Indian Judiciary has always been frowned upon by the foreign investors and foreign lawyers alike, for interfering and delaying the arbitral proceedings having its seat outside India (Foreign Arbitrations). Hitherto, the Indian courts, based on the ratios laid down by the Hon™ble Supreme Court in Bhatia International[1] and Venture Global[2] have been passing orders… Read More

Indian Depository Receipts

Introduction The past decades have witnessed the increased internationalization of various firms through cross listings on international exchanges. This internationalization has been supported by the process of market liberalization, which has led to greater integration of global securities markets. Cross-border listing by the various companies has become one of the important avenues for the… Read More

Draft GAAR Guidelines

Draft General Anti-avoidance Rules (˜GAAR™) guidelines were made public yesterday late evening. A quick snapshot of some of the salient features is given here-in-below: a) Monetary threshold Only an arrangement or arrangements where the tax benefit through the arrangement(s) in a year to a taxpayer is above a minimum threshold will be covered by GAAR… Read More

E-Arbitration in India- Is it still far Behind?

The significant increase in the role of international trade in the economic development of nations over the last few decades has been accompanied by a considerable increase in the number of commercial disputes as well. In India too, rapid globalization of the economy and the resulting increase in competition has led to an increase in… Read More

Corporatisation and Demutualisation of stock exchanges

Historically, stock exchanges were formed as ˜mutual™ organization i.e formed by trading members themselves for their common benefits. Ownership rights and trading rights are clubbed together in membership. The disadvantage of such organization is that they primarily work towards the interest of members and not those of investors. The office bearers will have access to… Read More

Foreign Direct Investment (FDI) Policy – Circular No. 2 of 2012 – Effective from 1st April, 2012

The consolidated FDI policy document is a single reference point for investors and regulators. The first such consolidation was released in March, 2010 after which it has been updated every six months. This ˜Circular 1 of 2012™-is the fifth edition of the consolidated policy document. In view of the fact that Government has undertaken substantial rationalization/ liberalization… Read More

Corporate Governance dealing with PSU™s in India and its role in ONGC

Author: Gautam Nayak Co-author: Bhanu Priya 4th year student of National Law University, Jodhpur Contact details: Mobile No: 09460125691 Email address: gautam.nlu@gmail.com Corporate governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The governance framework is there to encourage the efficient use of resources and equally… Read More

Intellectual Property Rights (Imported Goods) Enforcement Rules, 2007 and clarification as notified on 2011

Intellectual Property Rights (Imported Goods) Enforcement Rules, 2007 (Rules[1]): The Rules were formulated to define the role of the customs authorities in India in combating Intellectual Property Rights (IPR) piracy, pursuant to India™s obligations under the WTO treaty on Trade Related Aspects of IPR. Hence on May 8, 2007, the Central Government by a notification… Read More