West Bengal Govt Passes 'Anti-Rape Bill' In State Assembly, Proposes Time-Bound Trial & Death Penalty For Those Guilty Of Rape

The West Bengal government has passed an anti-rape amendment bill titled 'Aparajita Woman and Child (West Bengal Criminal Laws Amendment) Bill, 2024', seeking to amend the punishment for sexual crimes such as rape and to impose time-bound limits for the conclusion of investigation and trial in rape cases. The bill is set to come into effect from 5th September, 2024.The Bill proposes "to create...

NALSAR University Of Law Achieves 100% Placements For 2024 Batch In Top Tier Law Firms, Corporate Houses And Govt Orgs

The Recruitment Coordination Committee (RCC) of NALSAR University of Law, Hyderabad has announced the successful conclusion of the recruitment season for the Batch of 2024, achieving a 100% placement rate. This university secured placements for its students across various prestigious domestic and international organisations.In the Batch of 2024, out of the 119 students, 86 opted for the...

SEBI Proposes Mandatory ASBA-Like Trading Facility For Qualified Stock Brokers Leveraging UPI Block Mechanism In Secondary Markets

The Securities and Exchange Board of India (SEBI) has proposed that all qualified stock brokers (QSBs) should be mandated to offer a trading facility similar to the Application Supported by Blocked Amount (ASBA) system currently used in the primary market. This facility would leverage the Unified Payments Interface (UPI) block mechanism which has been in use for retail...

Section 12A Application Not Permitted During Liquidation Period: NCLAT Principal Bench

The National Company Law Appellate Tribunal Principal Bench, New Delhi of Justice Ashok Bhushan (Chairperson), Barun Mitra (Technicial Member) and Arun Baroka (Technicial Member) has held that an application under Section 12A of the IBC is not permitted during the liquidation period. Section 12A allows for the withdrawal of an insolvency application with the approval of ninety percent...

NIA Act | Appeal From Sessions Court Also Lies Before Division Bench: Uttarakhand HC Dismisses Haldwani Violence Accused Abdul Malik's Bail Plea

The Uttarakhand High Court on Monday dismissed the bail application of Abdul Malik, main accused in the Haldwani Violence case.Dismissing the bail application on the ground of maintainability, the bench comprising Justice Ravindra Maithani observed that an appeal against the order of the Sessions Court (being empowered to act as a 'Special Court') refusing to grant bail could only be...

Delhi Court Criticizes ED For “Arbitrary” Arrest, Asks ED Director If There Is Any SOP To Regulate & Monitor Arrests

While hearing a bail application under the Prevention of Money-Laundering Act, 2002, a Delhi Court has deprecated the 'arbitrary' approach of the Enforcement Directorate (ED) in arresting an individual.Noting that the investigation cannot be conducted on 'subjective interpretation' of the Investigation Officer, Judge Dheeraj Mor stated that “The hallmark of investigation is its...

Law Isn't Just A Profession But A Service To Society; Be Compassionate & Empathetic In Your Dealings: Chhattisgarh HC CJ To Law Students

While addressing law students across the state on August 31, 2024, Chhattisgarh High Court Chief Justice Ramesh Sinha said that law students should never forget that law is not just a profession but a service to society, and they should always strive to uphold justice, equality, and fairness. He also added that law students should be compassionate, empathetic, and honest in their...

SEBI Proposes Tripling Fees For Informal Guidance, Expanding Eligibility To Include More Market Entities

The Securities and Exchange Board of India (SEBI) has proposed amendments to the existing Informal Guidance (IG) Scheme, 2003. This scheme, originally introduced in June 2003 and amended in 2004 and 2023, allows registered entities to seek SEBI's guidance on specific transactions and interpretations of securities laws. The IG Scheme was introduced by SEBI to provide clarity to...

SEBI Tightens Eligibility Criteria For Stocks In Derivatives Segment With Stricter Standards And New Product Success Framework

The Securities and Exchange Board of India (SEBI) has updated the eligibility criteria for the entry and exit of stocks in the derivatives segment. The revised criteria introduce stricter standards for stocks to be eligible for entry into the derivatives segment. These criteria are based on the stock's performance in the cash market over the preceding six months on...

Roc Hyderabad Imposes Rs. 40,000 Penalty On Sai Silks (Kalamandir) Limited And Directors For Non-Disclosure Of Asset In Rs. 50.94 Million Impairment Loss

The Registrar of Companies, Hyderabad has held imposed a penalty of Rs. 40,000/- on Sai Silks (Kalamandir) Limited and its directors for failure to disclose the nature of the asset associated with an impairment loss of Rs. 50.94 million. IND AS 36 deals with the impairment of assets. This standard requires companies to ensure that their assets are carried at no more than their...

SEBI Cancels Registration Of 39 Stock Brokers, 7 Commodity Brokers, And 22 Depository Participants For Non-Compliance

The Securities and Exchange Board of India (SEBI) has cancelled the registration of 39 stock brokers, seven commodity brokers, and 22 depository participants. The cancellations were primarily driven by the fact that these entities were no longer actively participating as members of recognized stock exchanges or depositories. SEBI noted that the action was necessary to...

Supreme Court Collegium Proposes Transfer Of Allahabad High Court Judge Justice Shamim Ahmed To Madras HC

The Supreme Court Collegium has recommended that Justice Shamim Ahmed be transferred from the Allahabad High Court to the Madras High Court. The Collegium comprising the Chief Justice of India, DY Chandrachud, along with Justice Sanjiv Khanna, Justice BR Gavai, Justice Surya Kant and Justice Hrishikesh Roy, proposed Justice Ahmed's transfer to Madras HC after rejecting his request for...