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RBI to put in place new system for settlement of bond trade

   15 May 2009 at 10:14

The Reserve Bank will soon put in place a mechanism to facilitate settlement of trading in corproate and other bonds through a clearing house, a move that will infuse transparency and encourage development ofbond market, SEBI Chairman C B Bhave said ..

Posted in Corporate Law |   178 Views


Gujarar HC asks Govt. to pay 262 crores to riot victims

   14 May 2009 at 17:42

The Gujarat High Court on Thursday asked the Government of Gujarat to pay a compensation of Rs.262 crore to victims of the riots that followed the burning of the Sabarmati Express in 2002.The High Court order said that sum was allocated for the riot ..

Posted in Criminal Law |   268 Views


SC REVOKES NSA AGAINST VARUN

   14 May 2009 at 17:36

The Supreme Court on Thursday revoked the National Security Act (NSA) invoked against Bharatiya Janata Party (BJP) leader Varun Gandhi for making an alleged 'hate-speech' in Pilibhit.Varun had challenged the imposition of the NSA by the Uttar Pradesh ..

Posted in Criminal Law |   213 Views


SC refuses to stay defamation proceedings against Tehelka

   14 May 2009 at 17:35

The Supreme Court refused to stay the proceedings of a defamation case filed by JD(U) leader Jaya Jaitly against Tehelka editor Tarun Tejpal for conducting a sting operation against her.A bench comprising Chief Justice K G Balakrishnan and Justices P ..

Posted in Criminal Law |   279 Views


CJI administer oath to two new judges

   14 May 2009 at 17:33

Chief Justice (CJ) K G Balakrishnan today administered oath of office to two new judges of the Supreme Court.Justice Deepak Verma has been elevated from Rajasthan High Court to the Supreme Court while Justice B S Chauhan has been promoted from Orissa ..

Posted in Constitutional Law  1 comments |   221 Views


SC: Juvenile Justice Act for rehabilitation of minor offenders

   14 May 2009 at 17:32

The Supreme Court has ruled that the scheme of Juvenile Justice (care and protection of children) Act 2000 is meant for rehabilitation of minor offenders who have strayed, to bring them back to the main stream of life.A bench comprising Justice Altam ..

Posted in Criminal Law |   291 Views


Law admission test postponed after paper leak

   14 May 2009 at 13:08

Candidates say holiday plans will go for a toss Author : Priya Ramakrishnan/DNAThe Common Law Admission Test (CLAT) 2009 has been marred by a question paper leak in just its second year of inception. The exam, scheduled for May 17, has been postponed ..

Posted in Students |   591 Views


SEBI TO ISSUE NORMS FOR FOREIGN CORPORATES

   14 May 2009 at 12:01

SEBI will shortly issue guidelines for overseas investors, seeking to register as a sub-account under the foreign corporate category, two people familiar with the development told ET. Sub-account includes those foreign corporates, foreign individuals ..

Posted in Corporate Law |   176 Views


FICCI SEEKS DIRECT TAX RATE CUTS

   14 May 2009 at 12:01

The Federation of Indian Chambers of Commerce and Industry (FICCI) has sought reduction in corporate tax rate to 25 per cent and reintroduction of investment allowance, besides continuation of tax holiday benefits for housing, telecom and power secto ..

Posted in Taxation |   168 Views


SUPREME COURT’S RULING ON DEDUCTIBILITY OF PROVISION FOR WAR

   14 May 2009 at 10:36

SUPREME COURT OF INDIARotork Controls India (P) Ltd.v.CITCIVIL APPEAL NOS. 3506-3510 OF 2009MAY 12, 2009 RELEVANT EXTRACTS : 10. What is a provision? This is the question which needs to be answered. A provision is a liability which can be measured on ..

Posted in Taxation |   162 Views