7 October 2019


News

RBI Cuts Repo Rate from 5.40% to 5.15% - 04.10.2019

Reserve Bank of India (RBI) has lowered its key lending rate or the repo rate by 0.25 per cent — from 5.40 per cent to 5.15 per cent in its fourth bi-monthly policy review. This is the fifth straight cut in its rates by the RBI in 2019 in a bid to reduce borrowing costs for home and auto loans.

Tags : RBI Repo Rate

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SC: Availability of Appellate Remedy can be 'Near Total Bar' for Exercising Supervisory Jurisdiction - 04.10.2019

Supreme Court has observed that the availability of an appellate remedy in terms of the provisions of Code of Civil Procedure can be construed as a ‘near total bar’ for the exercise of supervisory jurisdiction under Article 227 of Constitution of India.

Tags : SC Appellate Remedy

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RBI Eases Ban for those Looking to Buy Stake of Foreign Firms in India - 04.10.2019

Reserve Bank of India (RBI) has clarified that there would be no “blanket ban” on Indian companies wanting to buy stakes in overseas firms, which already have investments in India under the automatic route. An approval from the apex bank would be required, though.

Tags : RBI Foreign Firms

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RBI Enhances PMC Bank Depositors Withdrawal Limit to Rs 25,000 - 04.10.2019

Reserve Bank of India has enhanced the withdrawal limits for depositors of the scam-hit Punjab & Maharashtra Cooperative Bank (PMC) to Rs 25,000 from Rs 10,000 per account over the next six months.

Tags : RBI Withdrawal Limit

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Punjab and Haryana High Court: Cannot Direct Issuance of Atheist Certificate - 04.10.2019

Punjab and Haryana High Court has held that authorities cannot be directed to issue certificate that a person is an atheist and does not belong to any caste, religion and does not believe in God. The Court asserted that undoubtedly the freedom of conscience under Article 25 of the Constitution of India encompassed in itself is a freedom to an individual to take a view that he did not belong to any religion.

Tags : Punjab and Haryana High Court Atheist Certificate

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Chhattisgarh High Court Grants Bail to Amit Jogi in Poll Affidavit 'Cheating' Case - 04.10.2019

Chhattisgarh High Court has granted bail to former MLA and Janata Congress Chhattisgarh (J) state chief Amit Jogi, arrested last month for allegedly giving false information in an affidavit submitted by him during the 2013 State Assembly Election.

Tags : Chhattisgarh High Court Bail

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Delhi High Court Directs AAP Govt to Take Action Against Buildings Lacking Fire Safety - 03.10.2019

Delhi High Court has directed the AAP Government, its fire department and municipal authorities to take action against buildings, including sealing them, for lacking fire safety measures. The Court issued the direction while disposing of a Public Interest Litigation seeking sealing of two buildings in the Azadpur commercial complex for alleged non-compliance of fire safety norms.

Tags : Delhi High Court Fire Safety

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SC:Power of Attorney Holder Cannot Testify in Respect of Matters which Principal Alone have Knowledge - 03.10.2019

Supreme Court has noted that a power of attorney holder cannot testify for the principal in respect of matters of which the principal alone can have personal knowledge and in respect of which the principal is entitled to be cross-examined.

Tags : SC Attorney

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SC: Enforcement date of IBC Wholly Irrelevant to Triggering of any Limitation for Applications - 03.10.2019

Supreme Court has observed that the enforcement date of the Insolvency and Bankruptcy Code, 2016 does not and cannot form a trigger point of limitation for applications filed under the Code. The Court observed that since applications are petitions which are filed under the Code it is Article 137 of the Limitation Act, 1963 which will apply to such applications.

Tags : SC IBC

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SEBI Permits Mutual Funds to Invest in Unlisted NCDs - 03.10.2019

Securities and Exchange Board of India has permitted mutual funds to invest in unlisted non-convertible debentures (NCDs) up to a maximum of 10 per cent of the debt portfolio of a scheme in a phased manner.

Tags : SEBI Mutual Fund

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SAT Dismisses Gautam Thapar's Appeal Against SEBI Order - 03.10.2019

Securities Appellate Tribunal (SAT) has dismissed an appeal filed by CG Power’s ex- chairman Gautam Thapar, its former directors and Avantha Holdings against an order by market regulator SEBI barring them from accessing the securities market alleging fraudulent transfer of funds from the company.

Tags : SAT Gautam Thapar

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Supreme Court: Cannot Compensate Crash Victim in Installments - 03.10.2019

Supreme Court has put brakes on a Madras High Court order that held that motor accident victims in Tamil Nadu would receive compensation in periodic installments instead of a lump sum. The new system was challenged by a group of lawyers from Chennai called the 'Law Association'. It found fault with the August 14, 2019 order, as it introduced a law alien to the Motor Vehicles Act, 1988 and the Rules provided therein.

Tags : Supreme Court Crash Victim

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Supreme Court: Cannot Treat Dalits Like "Liars Or Crooks" - 03.10.2019

Supreme Court has observed that the members of the SC/ST community cannot be treated as liars or crooks and it cannot be presumed that they would register false complaints to secure monetary benefits or to take revenge.

Tags : Supreme Court Dalits

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Supreme Court: SC/ST Members Cannot be Left to Die in Sewer Chambers that are Like Death Traps - 03.10.2019

Supreme Court has noted that “Members of Scheduled Castes and Scheduled Tribes are still struggling for equality and civil rights, and are left to die in sewer chambers which are like "death traps". The Apex Court, which noted that the SC/ST members are still discriminated against in matter of civil rights, said they have been suffering ignominy, abuse and have been outcast socially for centuries.

Tags : Supreme Court Sewer Chambers

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CBDT: No MAT Credit for Companies Opting for Lower Corporate Tax Rate - 03.10.2019

Central Board of Direct Taxes (CBDT) has issued a detailed circular that Minimum Alternate Tax (MAT) credit will not be available to a company that opts for lower corporate tax rate of 22%. However, companies will have the option to go for the new regime after completely utilising MAT credit.

Tags : CBDT MAT Credit

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Gujarat High Court Issues Notice to Centre, GST Council, CBIC - 03.10.2019

Gujarat High Court has issued notices to the Centre, the Goods and Services Tax (GST) Council and the Central Board of Indirect Taxes and Customs (CBIC) for allegedly discriminating between two sets of importers. The issue relates to exemption from Integrated Goods and Services Tax granted to import of repair and maintenance goods under the place of supply rules. However, no exemption was given to job works of similar nature.

Tags : Gujarat High Court GST Council

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Supreme Court Amends its 2018 Verdict on SC/ST Act on Centre's Plea - 01.10.2019

Supreme Court has quashed its own verdict which introduced measures like prior inquiry before the arrest of an accused under the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities Act), 1989. The Court set aside the order and observed that the Apex Court should not have ventured to frame guidelines as it comes within the domain of legislatures.

Tags : Supreme Court SC/ST Act

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Apex Court Grants 28 Days to Centre to Reply to Pleas Challenging Abrogation of Article 370 - 01.10.2019

Apex Court has granted four weeks time to the Centre to respond to petitions challenging abrogation of Article 370 of Constitution of India which gave autonomy and special status to Jammu and Kashmir. The five-judge Constitution Bench posted all matters relating to Article 370 for November 14. Further the Court noted that the deadline for implementing Jammu and Kashmir Reorganisation Act, 2019 ends on October 31.

Tags : Apex Court Article 370

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Supreme Court Orders Relook into Poll-Related Case Against Devendra Fadnavis - 01.10.2019

Supreme Court has observed that a complaint against Maharashtra Chief Minister Devendra Fadnavis for allegedly failing to declare two criminal cases on his election affidavit in 2014 will be re-examined by a lower Court thereby cancelling a High Court order clearing him.

Tags : Supreme Court Devendra Fadnavis

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SC Seeks Centre's Reply on Restoration of Internet, Landline Services in J&K's Medical Establishments - 01.10.2019

Supreme Court has sought Centre’s reply on a Public Interest Litigation seeking direction from the Government to immediately restore high-speed internet services and fixed landline phone services across all hospitals and medical establishments in Jammu and Kashmir.

Tags : SC Internet

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Bombay High Court: End Gambling Menace by Enlightening Members of Society - 01.10.2019

Bombay High Court while disposing off a Public Interest Litigation against gambling and police inaction in registering First Information Report’s has invoked the biblical concept of fight between man’s conscience and the devil to show that gambling was a social problem whose solution was in enlightening the conscience of the society.

Tags : Bombay High Court Gambling

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Delhi HC Directs Facebook, Google to Take Down Posts Alleging Sexual Harassment by Subodh Gupta - 01.10.2019

Delhi High Court has passed an ex-parte order and directed Facebook, Instagram and Google to take down posts containing sexual harassment accusations against leading contemporary artist Subodh Gupta. These allegations were published by an un-named co-worker on an anonymous Instagram page.

Tags : Delhi HC Google

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SEBI Eases Buyback Rules for Companies with Housing Finance, NBFC Arms - 01.10.2019

Securities Exchange and Board of India (SEBI) has relaxed its norms for buyback of shares by listed companies, especially those having subsidiaries in housing finance and NBFC segments.

Tags : SEBI Buyback Rules

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NGT Directs DJB to Restrain ''Bad Odour'' Coming from Kondli STP - 01.10.2019

National Green Tribunal has directed the Delhi Jal Board (DJB) to take steps to control "bad odour" coming from a sewage treatment plant (STP) in Kondli. The Tribunal noted the report filed by the Delhi Pollution Control Committee and the DJB which said that laboratory analysis of the water samples collected at the outlet was not meeting the prescribed standards.

Tags : NGT Kondli

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Bilkis Bano Case:Apex Court Directs Gujarat Govt to Pay Compensation and Provide Job Within Two Weeks - 30.09.2019

Apex Court has directed Gujarat Government to pay compensation and provide job to Bilkis Bano within two weeks. The Court had awarded a compensation of Rs 50 lakh to Bilkis Bano in April this year. She was gangraped in Randhikpur village in Dahod district of Gujarat during the post-Godhra riots. Further the Court had also directed the Gujarat Government to provide her a government job and accommodation as per rules.

Tags : Apex Court Bilkis Bano Case

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Apex Court Orders to Attach Properties and Bank Accounts of Maradu Apartment Builders - 30.09.2019

Apex Court has ordered to attach the properties and bank accounts of the builders of Maradu apartments, holding them responsible for the illegal constructions. The Court directed its Registry to issue notices to builders in this regard. Moreover the Court also accepted the timeline submitted by the Kerala Government for completing demolition and clearing of debris and directed the Government to begin demolition as per schedule.

Tags : Apex Court Maradu Apartment

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Bombay High Court Refuses Rs 28 Lakh Fee Refund to Girl who Breaches Norms - 30.09.2019

Bombay High Court has declined to provide any help to the teenage girl, who first took admission in a medical course and suddenly gave it up and sought a refund of the parents’ ‘hard-earned’ money. The Court noted that the girl did not follow any due procedure of law and breached the norms.

Tags : Bombay High Court. Fee Refund

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DHC Seeks Centre's Response in Plea Against Digital Thermometers, BP Monitors Being Notified as Drugs - 30.09.2019

Delhi High Court(DHC) has sought the Centre's reply on a plea challenging its decision to notify blood monitoring devices, digital thermometers, nebulizers and glucometers as 'drugs' under the Drugs and Cosmetics Act,1940.The Court issued a notice to the Health Ministry whose notification has been challenged by an association representing manufacturers and traders of surgical and other medical equipment.

Tags : DHC Digital Thermometers

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IFIN Case: Supreme Court Declines to Overturn High Court Relief to KPMG Firm - 30.09.2019

Supreme Court has declined to intervene in the order passed by the Bombay High Court that gave relief to BSR & Associates LLP, a KPMG network firm, in the IL&FS Financial Services (IFIN) case.

Tags : Supreme Court IFIN Case

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