Corporate Law Reporter - The Daily Journal

CLR Snippets :: Setting Up of NMRA

The Government has introduced the Mines and Minerals (Development and Regulation) Bill, 2011 in the Lok Sabha on 12.12.2011 which was referred to the Standing Committee on Coal and Steel on 5.1.2012. The Mines and Minerals (Development and Regulation) Bill, 2011 provides for establishment of the National Mining Regulatory Authority for, inter-alia, conducting investigation and… Read More

Ministry of Corporate Affairs – Special Task Force Constituted in the SFIO to Investigate

Special Task Force Constituted in the SFIO to Investigate The Affairs of Certain Chit Fund Companies The Ministry of Corporate Affairs has taken note of the misuse by certain Chit Fund Companies who have raised huge sums of money from the public at large. The State Governments are the appropriate authorities for regulation of such… Read More

CLR Snippets :: Committee on Cost Cutting Measures Recommends Strong Accountability

Minister of State for Civil Aviation, Shri K. C. Venugopal informed Rajya Sabha today that in accordance with Turn Around Plan (TAP) approved by Government for Air India, some flights, which were not meeting the fuel cost /cash cost of operations, have been withdrawn by the airline. However, commencement and withdrawal of flights by any… Read More

CLR Snippets :: Air India to Emerge Ebitda Positive

Minister of State for Civil Aviation, Shri K. C. Venugopal informed Rajya Sabha today that Government has approved the Turn Around Plan (TAP) and Financial Restructuring Plan (FRP) of Air India under which there would be equity investment in Air India spread over 10 years. The equity would be brought in by Government against achievement… Read More

Government Approves High Level Air Space Policy Body

Government Approves High Level Air Space Policy Body Minister of State for Civil Aviation, Shri K. C. Venugopal informed Rajya Sabha today that the concept of Flexible Use of Airspace (FUA) for sharing of airspace between civil and military users has been agreed in principle. The Government has accorded approval for constituting a High Level… Read More

Delays due to Government’s administrative mechanism is not condonable

CLR Editorial Note: This case is related to an application preferred for condonation of delay of 1226 days in filing a Tax Appeal. The applicant submitted that, to file Tax Appeal before the Court the applicant had to undergo certain administrative procedures. Due to Government administrative mechanism, every work passes and comes back to source point, through a route system, hence… Read More

High Court rebukes ITD for harassing honest taxpayers and Non-grant of refunds

CLR Editorial Note: An extensive search was conducted at the premises of the assessee concerned with this case. During the search, cash worth of Rs. 25 lakhs was seized. The assessee succeeded in the block assessments and the said amount of Rs. 25 lakhs became refundable to the assessee. However, the said amount was not… Read More

CLR Snippets :: Proposal for Ban on Contesting Elections Immediately after Quitting Government Jobs

The Election Commission has made a proposal to the Government to provide a suitable cooling off period for the Government officers retiring or leaving Government service and joining a political party in order to maintain their independence and neutrality in functioning while in office. Giving this information in written reply to a question in the… Read More

CLR Snippets :: Environmental Clearance to Mines in Odisha

The proposals for environmental clearance are considered and processed in line with the provisions under the Environment Impact Assessment notification, 2006 issued under the Environment (Protection) Act, 1986. The Ministry of Environment and Forests has granted environmental clearance to several mining projects of Steel Authority of India Limited (SAIL), viz., Gua Iron Ore mine of… Read More

Integrated Energy Policy for Energy Security in the Country

As per the 12th Plan document prepared by the Planning Commission, an investment of Rs.15,01,666 Crore (at current prices) has been projected for Electricity Sector during the 12th Plan, out of which investment in Central, State and Private Sectors has been estimated at Rs. 4,40,796 Crores, Rs.3,47,043 Crores and Rs.7,13,827 Crores respectively . According to… Read More

Action Plan for Industrial Clusters Scoring High in Comprehensive Environment Pollution Index

IIT Delhi Central Pollution Control Board (CPCB) in collaboration with Indian Institute of Technology (IIT), Delhi has carried out comprehensive environmental assessment in 88 prominent /major industrial clusters based on the Comprehensive Environment Pollution Index (CEPI) criteria in 2009. Out of the 88 industrial clusters, 43 industrial clusters with CEPI score 70 and above were… Read More

Restructuring of CIL to be Undertaken Soon

Restructuring of CIL to be Undertaken Soon The Expert Committee headed by T.L Shankar recommended that the issue of major restructuring of CIL should be considered during the 12th Plan Period. This information was given by the Minister of State for Coal, Shri Pratik Prakash Bapu Patil in a written reply in Lok Sabha today.… Read More

National Agricultural Innovation Project

Indian Council of Agricultural Research (ICAR) and the World Bank have been implementing a joint National Agricultural Innovation Project The Indian Council of Agricultural Research (ICAR) and the World Bank have been implementing a joint National Agricultural Innovation Project (NAIP) in the country. The specific objective of the National Agricultural Innovation Project is to accelerate… Read More