APPEAL NO: 209 of 2013 DECIDED ON: 9-04-2013. CASE IN BRIEF: This case is a landmark decision by a two-judge bench of the Hon’ble Delhi High Court on the issue of ‘writing off’ of ‘Bad debts’ after the demerger of a company. When the original company would have been entitled to write off the bad …
COMMISSIONER OF INCOME TAX V/s TIMES BUSINESS SOLUTION LTD. Read More »
Labour Law and other Compliance’s for the month of June, 2013 S.No. Compliance Forms to be Filed Relevant Law Due Date 1. Excise Duty payment GAR 7 Central Excise Rules, 2002 5th June, 2013 2. Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5th June, 2013 3. Service …
Why Companies Opt for Voluntary Delisting? The Company may opt for Voluntary delisting for various reasons, which may include the following: Promoter wants complete control of the company, Strategic buyout and new investor would like to have control The market value does not reflect the true intrinsic value of the Company Corporate …
The rupee fell to a new record low of 58.64 versus the UD Dollar . The reason behind the rupee’s recent weakness is the heavy selling of debt by foreign investors but the inflows into equities have so far been positive. As analysed by economists, a sustained fall in the value of the rupee would …
Comprehensive guidelines on Offer For Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism SEBI has through its recent Circular No. CIR/MRD/DP/17 /2013 dated May 30, 2013 amended the comprehensive guidelines on sale of shares through OFS mechanism issued vide earlier circular nos CIR/MRD/DP/18/2012 dated July 18, 2012 and circular CIR/MRD/DP/04/2012 dated January …
Word : Burden of proof Meaning : A rule of evidence that requires a party to a court action to prove something, otherwise the contrary will be assumed by the court Example: In criminal trials, the prosecution has the burden of proving the accused guilty beyond a reasonable doubt (because of the presumption of innocence). …
Acknowledgement by banks at the time of submission of Form 15-G / 15-H In view to protect interest of the depositors and for rendering better customer service,Reserve Bank of India has through its circular RBI/2012-13/516 DBOD.No.Leg.BC.100/09.07.005/2012-13 dated 31st May 2013, advised banks to give an acknowledgment at the time of receipt of Form 15-G/15-H. This …
Introduction: The policy relating to SEZs was earlier contained in Foreign Trade Policy. However, to give a long term and stable policy framework with minimal regulation, the SEZ Act was enacted. The Act received the assent of the President on 23rd June, 2005 and has come into force with the Special Economic Zones Rules, 2006 …
Word: “Bonafide ” Meaning: in good faith Example: All the Directors must act bonafide for the benefit of the company as whole. Pronunciation: Bo-na-fi-de Word: “Restitutio in integrum ” Meaning: Restoration to the original position. Example: In a breach of contract case, the injured party may ask the court to restore the parties to the …
In the earlier issue, we discussed on Section 5 of the Companies Act, 1956 and in the present issue we shall proceed with Section 10 of the Companies Act, 1956 which deals with the Jurisdiction of Courts. Query No 1 : Where a Company removed the plaintiff from Board of Directors and subsequently shifted its …
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