NHRC takes suo motu cognizance of Zimbabwean student’s death following assault in Punjab
The Zimbabwean student succumbed to his injuries after being assaulted by group of people in Bathinda, Punjab.
Continue readingTribunals/Commissions/Regulatory Bodies
SEBI finds no evidence of misleading YouTube promotions in Hemo Organic Ltd. stock activity; disposes of proceedings against the noticees
SEBI held that the material available on record was not sufficient to ascertain whether the Noticees disseminated misleading information in the scrip of Hemo Organic Ltd. to public through video on YouTube channels viz. “Money Wise” and “The Advisor”.
Continue reading
CCPA imposes Rs 10 Lakhs penalty on Rapido for its ‘Guaranteed Auto’ & ‘Auto in 5 min or get ₹ 50’ Advertisements
“Rapido had engaged in a practice calculated to mislead consumers by both commission and omission overstating its actual service capability while concealing qualifying conditions for the purpose of promoting its business”.
Continue reading
Read why Securities Appellate Tribunal granted relief to Naman Broadcasting in Sadhna Broadcast stock manipulation case
Naman Broadcasting amongst others was alleged to contravene the provisions of Securities and Exchange Board of India Act, 1992 by using digital platforms to mislead the investors. It was alleged that the price and volume of the scrip was manipulated through a coordinated scheme involving dissemination of misleading information and structured trades among connected entities.
Continue reading
Drawback due on goods will be payable when the amount is less than market value of goods: CESTAT
“If the transaction value (FOB value) is so high, that the drawback due on the goods exceeds the market value of the goods, then, as per section 76(1)(b) of the Customs Act, 1962, no drawback shall be allowed.”
Continue reading
Limitation period of S.95 IBC applications against personal guarantor based on DRT recovery certificate is three years: NCLAT
The appellant relying on Tottempudi Salalith v. State Bank of India, (2024) 1 SCC 24, contended that the limitation for filing Section 95 IBC application in the present case must be treated as 12 years and hence the application filed was not barred by time.
Continue reading
NHRC takes suo motu cognizance of girl student burned by cook for asking for food at a residential school in Bihar
The NHRC has issued notices to the District Magistrate and the Superintendent of Police seeking a detailed report within 2 weeks.
Continue reading
Whether service tax can be levied on transfer or assignment of copyright of the film produced under copyright service? CESTAT answers
The Adjudication Authority stated that the appellant’s activity of receiving income from transferring temporarily or permitting the use of the right vested in the film produced by them to their clients fell under the definition of copyright service under Section 65(105)(zzzt) of the Finance Act, 1994.
Continue reading
LPS terms under PPA remain binding on parties dehors subsequent tariff regulations: APTEL
“Any regulations issued by an Electricity Commission in exercise of its delegated legislative power, are applicable to the PPA executed after the date when those regulations come into force and cannot be applied to the PPAs already executed prior to that date, unless the regulations expressly specify so.”
Continue reading
SEBI hits Trader with Rs 10 lakh penalty for insider trading in HDFC-HDFC Bank merger
“If the Unpublished Price Sensitive Information had not been disclosed on the day the prices moved up phenomenally, the Noticee would have undoubtedly lost the premium it paid for the purchase of call options in the scrips of HDFC Ltd. and HDFC Bank Ltd.”
Continue reading
Commissioner of Customs is a stranger to contract of sale, cannot re-determine FOB value of export goods: CESTAT
“The customs officer can reject the transaction value as the assessable value and re-determine it as per the Valuation Rules for the purpose of imposing duty, but this would not change the transaction value for the purpose of receiving foreign remittance.”
Continue reading
CERC initiates process of implementing market coupling in phased manner; directs staff to propose regulatory amendments
“The Commission directs its staff to initiate the consultative process with Grid-India and power exchanges on various operational and procedural aspects for implementing the coupling of day-ahead market.”
Continue reading
NHRC takes suo motu cognizance of Jhalawar Government School collapse that claimed lives of 7 students and injured 28
The NHRC has issued notices to the Rajasthan Chief Secretary and Jhalawar Superintendent of Police, seeking a detailed report within two weeks.
Continue reading
Read why ITAT rejected Congress Party’s appeal for exemption of Rs 199.15 Crores due to delay in filing ITR
The ITAT reiterated that so far as an interpretation of such an exemption provision in a fiscal statute was concerned, a stricter interpretation had to be employed rather than a liberal one.
Continue reading
Inside CERC’s ruling where DB Power Ltd. sought compensation over changes in law, force majeure events relating to Power Purchase Agreements
The Appellate Tribunal for Electricity had remanded matter to Central Electricity Regulatory Commission to reconsider issues pertaining to station heat rate, carrying cost, and increase in VAT, Entry Tax, etc. due to change in law, force majeure events affecting petitioner’s project.
Continue reading
Appellate Tribunal for Forfeited Property confirms attachment of Chanda Kochhar’s assets in ICICI-Videocon Loan case
As per the Rules, Chanda Kochhar should have distanced from the meetings which were held for loan sanction, because of conflict of interest. However, not only did she participate in the meeting, but she also sanctioned the loan under urgent category.
Continue reading
NCLT can invoke inherent powers to permit withdrawal of voluntary liquidation, when no third-party rights are affected: NCLT
In the present case, initiation of the voluntary liquidation was a voluntary commercial decision taken by the shareholders. It is open to the shareholders, where no prejudice is caused to any stakeholder, to reconsider and reverse their decision, particularly when the process has not proceeded to an irreversible stage, such as distribution of assets.
Continue reading
‘Mere tallying of certain entries does not make loose sheets as complete evidence of purchases and sales’: CESTAT sets aside excise duty demand
Even if the figures in the document are hypothetically taken to be correct figures, still the same must be proved with corroborative evidence otherwise the document becomes irrelevant.
Continue reading
NHRC takes suo motu cognizance of reported suicide after alleged custodial torture in Delhi
The NHRC has issued notice to the Delhi Police Commissioner, seeking a detailed report within two weeks.
Continue reading
NHRC to hear complaint on prevalent malnutrition in over 47,000 children in Telangana
The NHRC addressing an intimation letter to the Chief Secretary, Government of Telangana, further sought an Action Taken Report in the matter.
Continue reading