News Updates
Activity Of Chemist/Pharmacy Is Incidental To Dominant Object For Running A Hospital: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) consisting of Rahul Choudhary (Judicial Member) and M. Balaganesh (Accountant Member) has held that the activity of a chemist or pharmacy is incidental or ancillary to the dominant object of running a hospital. The assessee/respondent is a charitable trust duly registered under section 12A of the Income Tax Act. The...
CBIC Issues Guidelines For Arrest And Bail In Relation To Offences Punishable Under Customs Act, 1962
The Central Board of Indirect Taxes and Customs (CBIC) has issued the revised guidelines for arrest and bail in relation to offences punishable under the Customs Act, 1962. The Customs Act of 1962 does not specify any value limits for exercising the powers of arrest. The Board has clarified that arrest in respect of an offence should be effected only in exceptional...
Only Creditors Who Triggered Insolvency Resolution Process Can Be Impleaded As A Party: NCLAT Chennai
The National Company Law Appellate Tribunal ("NCLAT"), Chennai Bench comprising of Justice M. Venugopal (Judicial Member) and Mr. Naresh Salecha (Technical Member), while adjudicating an application filed in V. Venkata Sivakumar v IDBI Bank Ltd., has held that the Insolvency and Bankruptcy Code, 2016 ("IBC") has no provision to implead creditors other than the ones which triggered...
Section 14 Of IBC Does Not Differentiate Between Assessment, Quasi-Judicial Or Judicial Proceedings: NCLT Mumbai
The National Company Law Tribunal ("NCLT"), Mumbai Bench, comprising of Justice P.N. Deshmukh (Judicial Member) and Shri Shyam Babu Gautam (Technical Member), while adjudicating an application filed in M/S Ravi Infrastructure & Projects v KSS Petron Private Limited, has held that Section 14 of the Insolvency and Bankruptcy Code, 2016 ("IBC") does not differentiate between...
NCLT Can Reject The Resolution Plan Due To Non Serious & Casual Conduct Of Resolution Applicant: NCLAT
The National Company Law Appellate tribunal principal bench comprising of Justice Ashok Bhushan, Justice M Satyanarayana murthy, Mr Barun Mitra held that non serious and casual conduct of a resolution applicant is a sufficient ground to reject the resolution plan filed by such resolution applicant and approved by the committee of creditors of the Corporate Debtor. . Brief Facts...
5-Yr-Old Girl's Kidnapping Case | Police Probe Not Satisfying, Explain Why Case Shouldn't Be Transferred To CBI: Patna HC To Muzaffarpur SSP
The Patna High Court has directed the Senior Superintendent of Police, Muzaffarpur to show cause as to why the case related to the kidnapping of a 5-year-old girl be not referred to the Central Bureau of Investigation.The Court ordered thus while hearing a matter relating to the kidnapping of the six-year-old daughter of the petitioner (Rajan Sah), named Khushi who is still to be traced....
Woman's Plea To Stop Friend From Travelling Abroad For Euthanasia Withdrawn From Delhi High Court
The plea filed by a woman seeking to stop her friend from travelling to Europe for "Euthanasia" was withdrawn from the Delhi High Court today.The Petitioner had approached the Court to prevent grant of emigration clearance to her male friend who was diagnosed with Chronic Fatigue Syndrome.Justice Yashwant Varma was apprised by Advocate Subhash Chandran that he had instructions to withdraw...
Non-Incorporation Of Finer Elements Of Pleadings In A Petition Under Motor Vehicles Act Not Necessarily Fatal For Claimant: J&K&L High Court
The Jammu and Kashmir and Ladakh High Court on Tuesday ruled that the finer elements of the pleadings, which are required to be mentioned in proceedings like a civil suit, if not incorporated in a claim petition filed under the provisions of the Motor Vehicles Act will not necessarily prove fatal for the claimant. A bench comprising Justice Puneet Gupta was hearing an appeal in terms...
'While The World Celebrates Onam, They Stay Hungry': Kerala High Court Condemns Delay In Disbursing Pending Salaries To KSRTC Employees
The Kerala High Court on Wednesday voiced its disappointment at the delay in disbursing the pending salary of the KSRTC employees and thereby asked the authorities to utilise the assets of the KSRTC to pay the salaries of the employees. Justice Devan Ramachandran expressed his discontent at the delay even after repeated orders have been passed by the Court."When the world is celebrating...
Whether 'Cost Inflation Index' Or 'Consumer Price Index' Be Used To Assess Notional Income In Motor Accident Claims? Madras HC Refers To Larger Bench
The Madras High Court recently took note of certain "anomalies" in fixing the notional income and consequent grant of compensation in motor accident claims. Since there are conflicting orders from two division benches on this issue, the court noted that there is a need for judicial pronouncement by a Larger Bench.Justice PT Asha thus directed the registry to place the papers before the...
Certified Copy Preparation Period Can Be Excluded For Limitation Under Section 61 Of The Insolvency & Bankruptcy Code, 2016.
The National Company Law Appellate Tribunal, Principal Bench comprising of Justice Ashok Bhushan and Mr. Barun Mitra recently held that the time taken for preparation of the certified copy of the order/judgment will be excluded for computation of limitation under Section 61 of the Insolvency and Bankruptcy Code, 2016. The Bench was hearing an appeal filed by the Appellant against...
SBI Files Insolvency Proceedings Against Bajaj Hindusthan Sugar Ltd., A Bajaj Group Enterprise
Bajaj Hindusthan Sugar Ltd. ("BHSL") is a part of the Bajaj Group of Companies and is a leading manufacturer of sugar and ethanol in India. BHSL has 14 sugar manufacturing plants across Uttar Pradesh which have aggregate sugarcane crushing capacity of 136,000 TCD (tonnes crushed per day) and alcohol distillation capacity of 800 KLD (kilolitres per day). Besides, BHSL is also one of...