corporate law

In what could be good news for foreign telecom companies wanting to invest in India, the Union Ministry of Law and Justice has suggested that the Communication Ministry may take the issue of following an open auction for third generation mobile services to a Group of Ministers if it wanted to overrule the views expressed by the Telecom Regulatory Authority of India. While the Telecom Regulator..

SC orders fresh hearing of SIFCL case New Delhi, Jun 9 The Supreme Court today set aside both Allahabad High Court and Reserve Bank of India (RBI) the rulings of debarring Sahara India Finance Corporation Limited (SIFCL) from accepting deposits from investors, and directed RBI to give a fresh hearing to SIFCL. A vacation bench comprising Justices Arijit Pasayat and P P Naolekar directed ..

The government has approved an agreement to strengthen cooperation with Canada in designing and developing new and renewable energy technologies. The Union Cabinet, at a meeting chaired by Prime Minister Manmohan Singh on Thursday, gave its approval to the Memorandum of Understanding signed between the Ministry of New and Renewable Energy and the National Institute of Renewable Energy of the..

SEBI amends Foreign Institutional Investors Regulations Act, 1995 Indian equity monetary body Securities and Exchange Board of India (SEBI) has amended SEBI (Foreign Institutional Investors) Regulations Act of 1995. Through the amendment, the policy measures on Offshore Derivative Instruments (Participatory Notes) and changes to the registration criteria have been incorporated in the regulatio..

External Commercial Borrowing policy modified The External Commercial Borrowing (ECB) policy is regularly reviewed by the Government in consultation with Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and lessons of experience. Consequent upon such a review, it has been decided to ..

A stage has reached now, where the Finance Minister cannot fool the people any longer and conceal the fact that we are faced with spiraling inflation. Instead of taking the bull by the horns, the Finance Minister, the Prime Minister and the Dy. Chairman of the Planning Commission are making pious statements that it would take a couple of weeks before the inflation would come under control and the ..

Madras HC refuses to stay export ban on non basmati rice5/23/2008The Madras High Court has refused to stay the ban on export of non-basmati rice.Justice A Kulasekaran, while refusing to stay the proceedings in the case, ordered notice to the Centre and posted the case after court vacation.An export-oriented unit, enjoying a single star status, had moved the High Court w..

RBI tightens anti-money laundering norms Tightening the anti-money laundering norms, the Reserve Bank made it mandatory for banks to report all suspicious transactions, including those of over Rs 10 lakhs, to the directorate of financial intelligence. "The banks should report information in respect of all transactions referred under Rule 3 to the Director, Financial Intelligence Uni..

Microsoft to challenge Google again; considers fresh Yahoo deal Microsoft Corp. has announced that it had reached out to Yahoo Inc. with a possibility of a fresh deal that does not involve an acquisition of the Internet company. "Microsoft is considering and has raised with Yahoo an alternative that would involve a transaction with Yahoo but not an acquisition of all of Yahoo," Micr..

SC dismisses BSNL's appeal against cell phone companies The Supreme Court on Wednesday dismissed BSNL's appeals seeking to recover revised charges from BPL Mobile, Idea Cellular and others for the resources (infrastructure facilities) provided to them in their respective circles. A bench headed by Justice S B Sinha while upholding the telecom tribunal judgement that came down heavil..

SC's ruling on stolen vehicle's insurance claim The Supreme Court has ruled that even if there are certain breach of conditions, the insurance company was under an obligation to indemnify the insurer for the theft of a vehicle. "In the case of theft of vehicle breach of condition is not germane. The appellant Insurance Company is liable to indemnify the owner of the vehicle when the..

SC issues notice to SEBI on fee continuity benefit issue The Supreme Court sought reply from market regulator SEBI on a petition filed by a stock broker seeking fee continuity benefit for fresh registration of membership inherited by the firm. A bench headed by Justice Altamas Kabir while issuing notice, asked DG Goenka Equities to give a bank guarantee of Rs 33 lakhs from a nation..

SC declines stay on increase in bank's foreign shareholding The Supreme Court has declined to pass any interim order on a petition challenging the Constitutional validity of the Centre's decision to permit shareholding of foreign investor’s upto 74 percent in the banking companies. A bench headed by Chief Justice K G Balakrishnan and Justice M K Sharma however, asked the Bombay Hig..

SC issues notice to Centre, UP sugar mills The Supreme Court has sought reply from the Centre and various sugar mills on a petition filed by the Uttar Pradesh government challenging the Allahabad High Court order that allegedly had the effect of discriminating between the cane growers in the state. A bench headed by Justice Arijit Pasayat while refusing to stay the High Court's inte..

The Union Cabinet today gave its approval for introduction of a Limited Liability Partnership Bill, 2008 in the Parliament by replacing the Limited Partnership Bill, 2006.The proposed Bill would facilitate creation of another corporate structure which would further enable growth of the economy.BackgroundThe Limited Liability Partnership Bill, 2006 approved by the Cabinet on..