Delhi High Court upholds SEBI circular which increased period of limitation for invoking arbitration

The Delhi high court on Thursday upheld a 2011 circular issued by the Securities and Exchange Board of India that increased the period of limitation for invoking arbitration from six months to three years.According to the petitioner, the circulars issued by SEBI were detrimental to the interest of the investors and have been issued at the  instance of brokers and thus, are contrary to the...

Destruction of record during pendency of RTI even as per weeding out policy is wrong: CIC

The CIC Prof M Sridhar Acharyulu held that during the pendency of RTI application relevant record should not be destroyed by public authority even if its weeding out policy permits. The CIC cautioned that such a destruction of record would be serious breach of Right to Information Act and directed to explain why penalty could not be imposed under Section 20 of RTI Act, for such violation.Mr...

Income Tax Departments submits Ex- CBI Chief Probe Report

The Attorney General of India in a case concerning the present CBI Director Ranjit Sinha, who has been accused by NGO Common Cause of frequently meeting Kanpur-based meat exporter Moin Akhtar Qureshi at his residence, on Friday told the Supreme Court that a former CBI director (A.P. Singh) used to have daily conversations with Mr. Qureshi in code language.The Appraisal report prepared by...

Income Tax Department makes Dawood Ibrahim party in case

The City Civil Court of Mumbai on Thursday granted permission to the Mumbai Income-Tax department to make underworld don Dawood Ibrahim party in a property dispute case. The Income Tax Department in a bid to auction of a certain property of the underworld don has made him a party.Dawood Ibrahim is currently on the wanted list of Interpol for Cheating, Criminal Conspiracy and Organised...

NALSAR registrar selected as VC, NLU Assam, conceding to the students’ demands

NALSAR, Hyderabad Registrar, Prof. Vijender Kumar has been selected as the new Vice Chancellor of NLUJAA, Guwahati, after functioning without a VC for more than five months. The appointment comes in wake of the hunger strike by the students of the University, giving a deadline to stabilize the college’s administration.According to Legally India reports, Kumar had received a verbal intimation...

Centre issues Companies (Audit and Auditors) Amendment Rules, 2014

In exercise of powers conferred by sub-sections (1), (2) and (4) of section 139, sub-sections (1) and (2) of section 140, sub-section (3) of section 141, sub-sections (2), (3), (8) and (12) of section 143, sub-section (3) of section 148 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government framed the following to amend the...

SEBI bars DLF from entering Securities Market

Realty major DLF and six senior executives are barred from entering the securities market and from buying or selling securities for three years after finding that the company didn’t adequately disclose information to investors before its 2007 initial public offering.In a 43-page order published on Monday, SEBI said DLF, its billionaire founder and chairman Kushal Pal Singh and five...

Snoopgate scandal: Gujarat High Court scraps Probe Commission

Gujarat High Court on Friday quashed the State Government notification appointing the two member Commission comprising of retired Justice Sugnya Bhatt and former IAS officer K.C. Kapoor to investigate the alleged incident of snooping on a Bangalore-based woman architect.Justice Paresh Upadhyay granted the plea of the woman’s father. He had demanded the setting aside of probe...

Delhi University sends application for inspection and affiliation to BCI

Delhi University of law has finally sent its application for affiliation and inspection under the Legal Education Rules to the Bar Council of India, providing a breather to the recent graduates of the Institute. Their future as lawyers had been marred with uncertainty with the BCI de-recognizing the law course.Law Faculty Dean Ashwani Kumar Bansal said, “The applications were prepared last...

SC Dismisses the PIL against post retirement assignments of Judges

The propriety of judges of higher judiciary taking up post –retirement jobs has been widely debated and acquired  momentum   after the appointment of former Chief Justice P.Sathasivam as the Governor of  Kerala.  The discussions have been brought to a legal conclusion with the  dismissal of a PIL which sought restriction on post assignment of members of  higher judiciary, including...

No more liberty to Supreme Court Bar Association for arbitrarily and unilaterally changing the name of the SC library for monetary consideration

Supreme Court Registry has received two Office Memoranda from Ministry of Law and Justice regarding the grievance received by the Department from Shri Subhash Chandra Agrawal, about naming/renaming of Library by the SCBA for the sake of money. Hence, an order dated 26.8.2013 was brought to the notice of the current secretary of the Supreme Court Bar Association, according to which in future,...

BCI disallows 2014-15 batch of law grads from Kakatiya and Osmania University to enrol as Advocates

The Telangana State Bar Associationhas  received a directive from the Bar Council of India (BCI) to disallow the 2014-15 batch law graduates of the Law University College, Kakatiya and the Osmania University Law College to enrol as advocates.The BCI's directive does not mention the Andhra University Law College. As a consequence, there  isuncertainty   among the law students who have...