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GSTR-9, GSTR-9C Gets Simplified Further, Submission Dates Extended - 15.11.2019

Central Government has to extend the due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2017-18 to December 31, 2019 and for Financial Year 2018-19 to March 31, 2020. It has also decided to simplify these forms by making various fields of these forms as optional.

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NCLAT Sets Aside Dhanuka's Resolution Plan for Debt-Laden Orchid Pharma - 15.11.2019

National Company Law Appellate Tribunal has set aside the approval of the resolution plan of Dhanuka Laboratories for Orchid Pharma.Dhanuka's plan was approved by the National Company Law Tribunal on June 25. The Appellate Tribunal also ordered to remit the matter to NCLT for a decision.

Tags : NCLAT Orchid Pharma

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SEBI Permits Exchanges to Modify Commodity Derivatives Contracts - 15.11.2019

Securities and Exchange Board of India has decided to give more flexibility to exchanges regarding modifying contract specifications for all commodity derivatives contracts. Changes that exchanges can make include margins, launch date, among others.

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Supreme Court Sets Aside NCLAT Order Approving ArcelorMittal's Bid to Acquire Essar Steel - 15.11.2019

Supreme Court has set aside the July 4 order of the National Company Law Appellate Tribunal approving ArcelorMittal's Rs 42,000-crore bid for acquiring debt-laden Essar Steel. The Court quashed the National Company Law Appellate Tribunal order which had given financial creditors equal status with operational creditors in the distribution of ArcelorMittal's bid amount.

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SEBI Tightens Disclosure Norms for Municipal Bonds - 14.11.2019

Securities and Exchange Board of India has prescribed wider disclosures and compliances norms by the issuers of listed municipal bonds. SEBI has said in a Circular issued that such listed entities should prepare and submit half yearly unaudited financial results to the stock exchanges within 45 days of the end of the first half of the year, and will submit the annual audited financial results, within sixty days from the end of the financial year along with the audited report.

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AAR Kerala: PVC Tufted Coir Mats and Mattings Taxable at 12% - 14.11.2019

Authority for Advance Ruling Kerala has ruled that PVC tufted coir mats and mattings shall be chargeable to a GST of 12%. The Tribunal ruled that PVC Tufted Coir Mats and Matting shall not be covered by the heading mentioning textile of coir and floor coverings covered under HSN 5702, 5703 and 5705. Further, it was held that if PVC/rubber are stuffed on the textile of coir used as floor mats, it shall fall under the Customs Tariff Head 5703 90 90 and will be taxed at 12%.

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NCLAT Directs SEBI to File Reply on Revised Share Delisting Norms for Cos under Insolvency - 14.11.2019

National Company Law Appellate Tribunal has granted Securities and Exchange Board of India one "last chance" to file its reply on the revised share delisting norms for companies under insolvency. Further the Tribunal has granted one day time to SEBI for filing of affidavit and said that failing which, it will proceed ahead in the matter.

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Rafale Verdict: Supreme Court Dismisses all Review Pleas in Fighter Jets Deal Case - 14.11.2019

Supreme Court has dismissed petitions seeking a review of its judgment giving a clean chit to the Central Government in the Rafale fighter jet deal with French firm Dassault Aviation. On May 10, the Apex Court had reserved the decision on the pleas seeking a re-examination of its findings that there was no occasion to doubt the decision-making process in the procurement of 36 Rafale fighter jets.

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Foreign Funds Case: Supreme Court Asks Indira Jaising, Anand Grover to Reply - 14.11.2019

Supreme Court has sought response from NGO Lawyers Collective and its founding members Anand Grover and Indira Jaising on a plea by the Central Bureau of Investigation challenging the Bombay High Court order granting protection from coercive action against them in an alleged Foreign Contribution (Regulation) Act, 2010 violation case. Further the Apex Court also refused to stay the Bombay High Court order.

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Supreme Court Brings Chief Justice of India's Office under RTI Act - 13.11.2019

Supreme Court has observed that Chief Justice of India's office comes under the Right to Information Act, 2005. The Apex Court had on April 4 reserved its verdict on appeals filed in 2010 by the Supreme Court Secretary General and its Central Public Information Officer against the High Court and the Central Information Commission's orders. The Court further noted that the CJI offices comes within public authority and that Right to Information and Right to Privacy were two sides of same coin.

Tags : Supreme Court RTI

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