The transfer of an undertaking under a Scheme of arrangement under Section 391-394 of Companies Act, 1956 is ‘Slump sale’ which is taxable under Section 50B of the Income-tax Act. Brief fact of the Case : The petitioner (SREI Infrastructure Finance Limited) under a scheme of arrangement, transferred its project financing business and assets based […]
Facts: 1. The appellant is the registered proprietor of the trademark “HAWKINS” in respect of pressure cookers and parts thereof, including gaskets, falling under Class-21 of the erstwhile Trade and Merchandise Marks Act 1958. 2. The grievance relates to the respondent, M/s. Murugan Enterprises, manufacturing and selling gaskets under the trademark “MAYUR”. But on the
Hawkins Cookers Ltd Vs. Murugan Enterprises decided on April 13, 2012 Read More »
Introduction Foreign Direct Investment (“FDI”) is permitted in all sectors except for those contained in the prohibited list including atomic energy, betting and gambling, lottery business etc. It may or may not require prior regulatory approval depending on the government policy in the relevant sector in which investment is proposed to be made. Proposals, where
Foreign Direct Investment Read More »
Exit Policy for De-recognized/ Non-operational Stock Exchanges: SEBI has vide its circular CIR/MRD/DSA/14/2012 dated May 30, 2012 revised/modified its guidelines in respect of exit option to stock exchanges in order to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Filing Offer Documents under SEBI
SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI) Read More »
The overall mood about the Indian economy was gloomy in 2011-12. The sense of gloom is not difficult to appreciate as the Global economy slowed down, investors lost tonnes of money in stock market, myriad issues facing India such as high Inflation, increase in interest rates, outflow of forex owing sell-off by foreign institutional investors
Positive side to Indian Economy Read More »
1. Cost Accounting Records and Cost Audit – clarifications about coverage of certain sectors thereunder : MCA has in partial modification of para (b) (iii) of the General Circular No. 67/2011 dated 30thNov, 2011 decided to extend exemption from mandatory cost audit to all units located in the specified zones such as SEZs, EPZs, FTZs, and also
MINISTRY OF CORPORATE AFFAIRS (MCA) Read More »
“All created things are impermanent. Strive on with diligence”. These are the last words of Buddha before his death. Perhaps it is more true in relation to the volatile conditions in the journey of pre-registration to post-registration of Trade Mark of your goods or services! A Trade Mark registered for once, doesn’t mean, your trade
Article on Trade Mark may kick the bucket!! Read More »
1. Overseas Direct Investments by Indian Party – Online Reporting of Overseas Direct Investment in Form ODI: RBI vide RBI/2011-2012/585 A.P. (DIR Series) Circular No.131 dated 31st May, 2012 has decided to communicate the UIN in respect of cases under the Automatic Route to the ADs/Indian Party through an auto generated e-mail to the email-id
RESERVE BANK OF INDIA (RBI) Read More »
Listed below are the Compliance’s for the month of June, 2012 S. No. Compliance Clause / Regulation No./Forms Agreement / Regulations etc. Compliance Due Date 1. Excise Duty payment GAR 7 Central Excise Rules, 2002 5th June 2. Payment of Service Tax GAR 6 Service Tax Rules, 1994 5th June 3. Professional Tax Monthly Return
Compliance Calendar for June, 2012 Read More »
LLP, a new legal entity for Business & Profession: LLP is an incorporated partnership formed and registered under the Limited Liability Partnership Act, 2008 with limited liability and perpetual succession. The Act came into force, for most part, on 31st March 2009 followed by its Rules on 1st April 2009 and the registration of the
An Insight into the LLP Act, 2008 Read More »