corporate law

Court Fines eBay Over Fake Goods A French court has ordered eBay to pay 40m euros (£31.6m; $63m) to luxury goods group LVMH for allowing online auctions of fake copies of its goods. LVMH said eBay's French site had not done enough to stop the sale of counterfeit bags and perfumes. The brands affected include Louis Vuitton, Christian Dior and Givenchy. An eBay statement said LVMH was trying t..

he Delhi High Court sought a response from the Centre on Wednesday on a petition challenging its first come-first serve procedure adopted in spectrum allocation. A Bench comprising Chief Justice A P Shah and Justice S Muralidhar asked the government to file its response within three weeks and posted the matter to December 10 for hearing. The petition had challenged the Centre's policy of ..

A Memorandum of Understanding was signed between the Ministry of Overseas Indian Affairs in the Republic of India and the Ministry of Manpower in the Sultanate of Oman in the field of manpower. The agreement was signed during the Prime Minister’s visit to Oman yesterday...

Rajya Sabha passed the Limited Liability Partnership Bill, 2008 Rajya Sabha has passed the Limited Liability Partnership Bill, 2008. Minister of Corporate Affairs, Shri Prem Chand Gupta today presented the Bill for consideration and passage by the House. All members supported it, thereby giving it the nod of the Rajya Sabha. The Bill provides for the formation and regulation of limited liabilit..

The much-awaited Companies Bill, 2008 has been introduced in the Lok Sabha. Minister of Corporate Affairs, Shri Prem Chand Gupta introduce the Bill to consolidate and amend the law relating to companies. Two days ago, i.e., on 21.10.2008 Shri Gupta had withdrawn the Companies (Amendment) BIll, 2003 which was introduced in the Rajya Sabha on 7.5.2003 as the said Bill was not in tune with the presen..

The Companies Bill, 2008 - that intends to modernise and usher in a single framework for regulating Indian companies from incorporation to liquidation - was tabled in the Lok Sabha today. Minister of Corporate Affairs Prem Chand Gupta introduced the Bill. Once approved by Parliament, the law will replace the existing Companies Act, 1956. However, the Bill is unlikely to be cleared in the ..

Jaipur: A division bench of Rajasthan High Court has made disparaging remarks against the tendency of the banks for insisting on recovering intere st on the loans advanced and thereby putting the borrowers into messy litigation. The court also showed its annoyance on the fact that the banks impose unreasonable terms and conditions of mortgage of land in lieu of the debts advanced to poor people..

A few days back, this blog posted a brief note on M/s. Unissi (India) Pvt. Ltd. v. Post Graduate Institute of Medical Education & Research Civil Appeal No. 6039 of 2008, Date of Judgment - 1.10.08. This case requires some elaboration as it has a major impact on arbitration agreements. Though the Supreme Court has reiterated its previous stand on interpreting Section 7 of the Arbitration and Concil..

The Indo-US Civilian Nuclear Deal -- or the so-called 123 Agreement -- is expected to be signed in Washington on October 10, two days after the US President George W Bush would sign into law the legislation in this regard passed by the US Congress last week. Informative sources in the State Department told NDTV.com that the External Affairs Minister Pranab Mukherjee is likely to arrive in Washi..

Leading supermarket chain Subhiksha today said that the Bombay High Court has 'set aside' the Maharashtra FDA's orders regarding the company's warehouse in Mumbai and its vendors. The decision in this regard was taken by a bench of the Mumbai High Court on Friday, Subhiksha said in a statement. Maharashtra government's regulatory body for food and drugs, Maharastra FDA, had in mid-August passe..

Iran has sought an amendment to the gas sale agreement for the IPI pipeline project involving India and Pakistan in an apparent bid to ensure legal cover for itself in the event of disruption of fuel supplies due to any armed conflict it may face. Iran has informed Pakistan that the term "act of war" under "excusing event" should be replaced by a suitable substitute like "situation of armed confl..

Certificate Course on Arbitration - (26-09-2008) --------------------------------------------------------------------- ----------- Arbitration as an emerging area of practice Globally justice dispensation system is reeling under tremendous pressure, due to huge backlog of cases, shortage of judges, lack of adequate infrastructure in the courts, time consuming legal procedures and complexi..

The Federation of Hotel & Restaurant Associations of India (FHRAI), the apex body of all hotel associations, has decided to move court against the government''s proposal to ban smoking in public places. The Ministry of Health, under the Prohibition of Smoking in Public Places Rules, 2008, has banned tobacco consumption in all government or private buildings from October 2, including hotels,..

It has been indicated that the Reserve Bank of India (RBI) has directed banks to unwind their interest rate swap (IRS) transactions with Lehman Brothers. The RBI had talks with bankrecently to ascertain Lehman's exposure in the local IRS market, they said. "Yes. It's true. They have told us to do so," said one banker, when asked about the central bank's directive. Lehman, once the fou..

Amid the global turmoil in the financial sector, the Reserve Bank of India (RBI) has further tightened the norms for non-banking finance companies (NBFC), asking auditors to prepare reports in addition to those prescribed by the Companies Act. The main focus is on NBFCs that accept public deposits but in case of others too RBI wants auditors to report if the company has a certificate of regis..