Search Results for Tag : Assets
Statute
Lokpal and Lokayuktas (Amendment) Act, 2016(27.07.2016)
The Lokpal and Lokayuktas (Amendment) Bill, 2016 has received Presidential assent on 29th July, 2016 and has become Lokpal and Lokayuktas (Amendment).....
Tags : Public servants, Assets, Declaration, Time Limit
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Lokpal and Lokayuktas (Amendment) Act, 2016(27.07.2016)
The Lokpal and Lokayuktas (Amendment) Bill, 2016 has received Presidential assent on 29th July, 2016 and has become Lokpal and Lokayuktas (Amendment).....
Tags : Public servants, Assets, Declaration, Time Limit
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International Cases
Costs of winding up of a partnership are to be paid out of the partnership assets unless there are good reasons to the contrary(18.06.2020)
In present matter, On 11 March 2019 the Plaintiff, in his own capacity and in his capacity as executor of the deceased's estate, brought an applicatio.....
Tags : Winding up, Costs, Assets, Partnership
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Where a Master admits a claim, it cannot subsequently alter the decision(18.10.2023)
Present appeal emanated from an order of the high court that, the Appellants were not entitled to contest the claims proved by the Eastern Cape Develo.....
Tags : Disposition, Assets, Claim
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Judgments
Provisions of Income Tax Act are not applicable, when situs of trademarks and intellectual property rights and owners thereof are not located in India(25.07.2016)
Situs of the owner of an intangible asset would be the closest approximation of the situs of an intangible asset
Petitioner (CUB Pty. Limited.....
Tags : Situs, Intangible assets, Levy
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Share Application Money as transferred by the assessee is ‘Capital Asset’ for the purpose of Income Tax Act, 1961(15.12.2020)
In facts of present case, as a part of corporate restructuring undertaken by the assessee group, it was decided that, shares of certain group entities.....
Tags : Assessment, Share money, Capital Assets
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District Magistrate or Chief Metropolitan Magistrate can appoint an advocate and authorise him/her to take possession of the secured assets under Section 14(1A) SARFAESI Act(25.02.2022)
The seminal question involved in present cases is whether it is open to the District Magistrate or the Chief Metropolitan to appoint an advocate and a.....
Tags : Possession, Secured assets, Authorization
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Proceedings under the SARFAESI Act cannot be continued against corporate debtor, once the CIRP is initiated and the moratorium is ordered(18.05.2022)
Present appeal challenges the judgment passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi ( “the NCLAT”), thereby dismi.....
Tags : Sale, Assets, Corporate Debtor
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When a public functionary is required to perform a public function within a time frame, the same will be held to be directory unless specified(05.11.2020)
The challenge in the present appeal is to an order passed by the High Court, whereby it was held that Section 14 of the Securitisation and Reconstruct.....
Tags : Secured Assets, Possession, Time limit
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IBC bars jurisdiction of civil courts in respect of any matter in which NCLT or NCLAT is empowered by Code to pass any Order(18.11.2019)
The present civil appeals have been filed by the Appellant-Resolution Professional appointed by the National Company Law Tribunal for the Corporate De.....
Tags : Auction, Assets, Interim order, Jurisdiction
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Only expressly created statutory first charges under Central and State laws can take precedence over claims of secured creditors(04.12.2019)
Present appeal arises out of judgment passed by High Court. Vide the impugned judgment, the High Court has directed the issuance of a recovery certifi.....
Tags : Sale, Secured assets, Proceeds
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News
Karnataka HC Grants Relief to Ex-Minister over Disproportionate Assets Case(07.10.2016)
Karnataka HC, while granting relief to Ex-Minister V Somanna, has stayed further proceedings in respect of a complaint pertaining to amassing dispropo.....
Tags : Karnataka HC, disproportionate assets
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#Union Budget 2022-2023: Scheme for Taxation of Virtual Digital Assets(01.02.2022)
Union Budget proposes that for taxation of Virtual Digital Asset (VDA), any income from transfer of VDA shall be taxed at rate of 30% without any dedu.....
Tags : Union Budget, Taxation of Virtual Digital Assets
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Karnataka HC Upholds Constitutional Legality of Proviso (v) to S.14(1) SARFAESI Act(14.04.2022)
Karnataka High Court has upheld the Constitutional legality of proviso (v) Section 14(1) of the Securitization and Reconstruction of Financial Assets .....
Tags : Karnataka High Court, Constitutional legality, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
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SC Directs Banks Not to Impose Penalty on EMI Default by Amrapali Home Buyers(19.04.2022)
Supreme Court has directed the banks that their accounts shall not be treated as Non-Performing Assets Accounts and no penalties shall be charged fro.....
Tags : Supreme Court , Non-Performing Assets Accounts, EMI, Amrapali Group
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Bombay HC Gives Government ‘Last Chance’ to File Report in Kripashankar Assets Case(10.01.2017)
Bombay High Court gave Government a last chance to submit a report on its probe into alleged disproportionate assets of former Mumbai Congress chief K.....
Tags : Bombay High Court, Kripashankar Singh, Mumbai Congress, disproportionate assets
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Hyderabad High Court Rejects Plea Seeking Declaration of Jayalalithaa's Assets as Public Properties(21.12.2016)
Hyderabad High Court has dismissed a plea filed by a city-based organisation seeking declaration of late J Jayalalithaa's assets located in Telangana .....
Tags : Hyderabad High Court, Jayalalithaa's assets
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Punjab and Haryana HC Refuses to Stay Langah's Conviction in DA Case(22.12.2016)
Punjab and Haryana High Court has refused to stay SAD senior leader Sucha Singh Langah's conviction in a disproportionate assets (DA) case.
Tags : Punjab and Haryana HC, Sucha Singh Langah, disproportionate assets
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Supreme Court Seeks Action Plan on Recovery of Bad Loans(21.11.2016)
Supreme Court has said that disclosure of names of debtors, who owe Rs 500 crore or more to banks, will not lead "anywhere" as the important issue is .....
Tags : Supreme Court, Non-Performing Assets, disclosure, debtors
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SC: No Loan to be termed NPA Till New Orders(04.09.2020)
Supreme Court has asked banks not to declare any loan account as non-performing asset (NPA) till it passed further orders on a bunch of Petitions ques.....
Tags : Supreme Court, Declaration of Non-Performing Assets
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CBDT Notifies Exclusion of Non-Fungible Token as Virtual Digital Asset(04.07.2022)
Central Board of Direct Taxes (CBDT) has notified that the Non-fungible token (NFTs) shall not be treated as Virtual Digital Assets for the purpose of.....
Tags : CBDT, NFT, Virtual Digital Assets
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Supreme Court Remarks “Socialism Missing From Religion”(08.03.2017)
Supreme Court, while expressing concern at threat of “musclemen” taking over charge of religious assets and properties, has said that “everywhere with.....
Tags : Supreme Court, religious assets
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CBDT Issues Guidelines on 1% TDS on Virtual Digital Assets from 1st July(23.06.2022)
Central Board of Direct Taxes (CBDT) has issued guidelines to levy one percent TDS on the virtual digital assets under Section 194S of the Income Tax .....
Tags : CBDT, Virtual Digital Assets, Income-Tax Act
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NCLAT Turns Down Reference Seeking Re-Consideration of Decision in V. Padamakumar Case(23.12.2020)
National Company Law Appellate Tribunal has turned down a reference made by a three-member Bench, seeking re-consideration of the decision in V. Padam.....
Tags : National Company Law Appellate Tribunal, V. Padamakumar v. Stressed Assets Stabilization Fund (SASF) & Anr.
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Delhi HC: Charges Can be Framed Only on Material, Not on Speculation(09.08.2022)
Delhi High Court while quashing a trial court order that had framed charges against a chartered accountant in a disproportionate assets case, has held.....
Tags : Delhi High Court, Charges, Disproportionate Assets Case
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Supreme Court Asks Karnataka Government to Wait For One Week in Jayalalithaa DA Case(06.02.2017)
Supreme Court has asked Karnataka Government to wait for another week for judgment on appeals filed by State against acquittal of Former Tamil Nadu Ch.....
Tags : Supreme Court, Karnataka Government, Jayalalithaa, disproportionate assets
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Supreme Court Rejects Karnataka Government's Review Plea in Jayalalithaa DA Case(06.04.2017)
SC has refused to review its verdict in Jayalalithaa disproportionate assets case and rejected Karnataka government's plea asking the court to re-exam.....
Tags : Supreme Court, Jayalalithaa disproportionate assets case, Karnataka government
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Madras HC Directs TNSEC to Submit Assets Declarations of all Elected Councillors(01.12.2016)
Madras High Court has directed Tamil Nadu State Election Commission (TNSEC) to submit statements of declaration of assets made by all Elected Councill.....
Tags : Madras High Court, Tamil Nadu, Election Commission, Assets Declarations
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SC: Sale of Entire Running Business With Assets, Liabilities Is Not 'Short-Term Capital Assets'(19.04.2017)
Supreme Court has held that Section 50 (2) of Income Tax Act will not apply to a case where entire running business with assets and liabilities is sol.....
Tags : Supreme Court, Short-Term Capital Assets
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Rajasthan HC Stays Order Attaching Assets of Chittorgarh Tehsildar, Collector and SP(26.02.2021)
Rajasthan High Court has put a stay on the ACJM Court, Chittorgarh order for the attachment of chair, car and residences of the tehsildar, collector a.....
Tags : Rajasthan High Court, Attachment of Assets
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Notifications & Circulars
Scheme for Sustainable Structuring of Stressed Assets – Revisions(10.11.2016)
We invite a reference to the paragraph 6 of the Statement on Developmental and Regulatory Policies issued by RBI on October 4, 2016. It was proposed t.....
Tags : Scheme, Stressed assets, Structuring
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NCLT Can't Decide Inter-Se Claims by Parties Over Assets of Corporate Debtor: NCLAT(05.02.2019)
National Company Law Appellate Tribunal has held that inter-se claims by parties over assets of the corporate debtor cannot be determined by the Adjud.....
Tags : NCLAT, Inter-Se Claims by Parties Over Assets of Corporate Debtor
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Bombay HC Allows Appeal Seeking ‘Equitable Distribution’ of Amounts Recovered from Assets(15.03.2021)
Bombay High Court has allowed appeals by an aggrieved investor in the National Spot Exchange as well as the Maharashtra government who had sought the .....
Tags : Bombay High Court, ‘Equitable Distribution’ of Amounts Recovered from Assets
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Supreme Court: Disclose Info About Inquiries Against MPs Who Amassed DA(07.09.2017)
Supreme Court has directed Central Government to file a fresh affidavit with information about the results of inquiry by Central Board of Direct Taxes.....
Tags : Supreme Court, disproportionate assets
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Supreme Court Seeks Centre's Report on Jump in Assets of Lawmakers Between Elections(07.09.2017)
Supreme Court has asked Centre to furnish details of action initiated against lawmakers, some of whose assets have jumped by over “500 per cent” betwe.....
Tags : Supreme Court, Lawmakers, Assets
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Supreme Court: Lawmakers' Assets Known, Time to Talk of Income Source(13.09.2017)
Supreme Court has asked that why should aspiring lawmakers get "immunity" from disclosing their source of income, while hearing a petition that cited .....
Tags : Supreme Court, disproportionate assets
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CIC Stays Order on Disclosure of Information on Non-Performing Assets(08.07.2021)
Central Information Commission (CIC) has stayed the order of the First Appellate Authority (FAA) of the Reserve Bank of India (RBI) which had directed.....
Tags : Central Information Commission, Disclosure of Information on Non-Performing Assets
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Maintenance of CRR/SLR on Foreign Currency Assets/Liabilities- Reference rate for INR/USD and exchange rate of other major currencies(02.08.2018)
Please refer to our circular DBOD.No.Ret.BC.113/12.01.001/2011-12 dated June 29, 2012 on Maintenance of CRR on FCNR(B) Scheme advising banks to be gui.....
Tags : Maintenance, CRR/SLR, Foreign Currency Assets, Liabilities
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Approval of plan for transfer of assets by Air India Limited to AI Assets Holding Limited(25.01.2022)
The Central Government hereby approves the following as plan approved by the Central Government for transfer of assets by Air India Limited to AI Asse.....
Tags : Approval, Transfer, Assets
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SC Refuses to Entertain Plea Seeking Clarification on Declaration of Loan Accounts as NPA(09.07.2021)
Supreme Court has refused to entertain a plea seeking clarification and modification of its 23rd March 2021 judgement whereby it vacated the stay on d.....
Tags : Supreme Court, Declaration of Loan Accounts as Non-Performing Assets
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Supreme Court: Chief Judicial Magistrates Competent to Deal With Applications U/s 14 SARFAESI Act(24.09.2019)
In an important ruling, SC has held that a Chief Judicial Magistrate is equally competent to deal with the application moved by the secured creditor u.....
Tags : Supreme Court, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, Chief Judicial Magistrate
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Mad HC Takes Suo Moto Revision Against Minister Ponmudi’s Acquittal in Disproportionate Assets Case(10.08.2023)
Madras High Court has Suo Moto taken up revision against the Trial Court verdict that acquitted Tamil Nadu Higher Education Minister K Ponmudi and his.....
Tags : Madras High Court, Suo Moto, Disproportionate Assets
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SC Restores Disproportionate Assets Case against IAS Officer(24.10.2016)
Supreme Court has restored a disproportionate assets case against a UP-cadre IAS officer, K Dhanalakshmi, while setting aside an order of Delhi High .....
Tags : Supreme Court, IAS officer, Delhi High Court, Disproportionate Assets Case
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Madras HC Orders Sale of Shares Owned by Disc Assets Lead India Ltd(19.03.2018)
Madras High Court has directed the registry of its Madurai bench not to entertain any plea moved by the directors of Disc Assets Lead India Limited wh.....
Tags : Madras High Court, Disc Assets Lead India Ltd
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Delhi HC Issues Notice on Plea by Decree Holder Seeking Attachment of Assets of Judgment Debtor(25.08.2021)
Delhi High Court has issued notice on a plea by a decree holder (KLA Const. Technologies) seeking attachment of moveable and immovable assets of the j.....
Tags : Delhi High Court, Attachment of Assets of Judgment Debtor
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Firm and Decisive Government Action taken to preserve value and assets of IL and FS(01.10.2018)
IL&FS, incorporated in 1987, is a large Systemically Important Non-Deposit Accepting Core Investment Company (CIC-ND-SI). It has numerous infrastructu.....
Tags : Assets, Preservation, Decisive Action
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Income Tax Department detects Foreign Assets in recent search(29.07.2019)
Income Tax Department conducted searches on 23rd July, 2019 in a group covering 13 premises across 3 States (Delhi, Haryana & Himachal Pradesh).
<.....
Tags : Search, Detection, Foreign Assets
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Modifications to Prudential Guidelines on Revitalising Stressed Assets(25.02.2016)
The Reserve Bank of India modified and cl.....Tags : Prudential guidelines, stressed assets, modification
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SC Rules, Govt. Official’s Illegal Assets Can’t be Attached, if He Dies During Pendency of Suit(05.07.2016)
Supreme Court has ruled that disproportionate assets amassed by a government official cannot be attached from his family members if the officer dies d.....
Tags : Supreme Court, disproportionate assets , government official
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Bombay HC Restrains PMLA Adjudicating Authority from Passing Orders on Anil Deshmukh's Assets(07.12.2021)
Bombay High Court has restrained the Adjudicating Authority under the Prevention of Money Laundering Act from passing orders on the provisional attach.....
Tags : Bombay High Court, Anil Deshmukh's Assets
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Bombay HC Allows Adjudicating Authority to Pass Order Regarding Attachment of Assets(10.12.2021)
Bombay High Court has allowed the Adjudicating Authority under Prevention of Money Laundering Act, 2002 to pass an order regarding attachment of asset.....
Tags : Bombay High Court, Attachment of Assets
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Delhi HC Reserves Judgment over Virbhadra Singh in Disproportionate Assets Case(16.12.2016)
Delhi High Court has reserved its verdict on plea of Himachal Pradesh Chief Minister Virbhadra Singh and his wife Pratibha Singh, seeking quashing of .....
Tags : Delhi High Court, Virbhadra Singh, disproportionate assets
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All. HC: Mandatorily Pass Order to Disclose Assets and Liabilities in Maintenance Proceedings(15.03.2024)
Allahabad High Court has directed all Presiding Officers dealing with maintenance proceedings in the State to pass orders making it mandatory for the .....
Tags : Allahabad High Court, Presiding Officers, Maintenance Proceedings, Assets, Liabilities
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SC in Disproportionate Assets Case: Acquiring Assets not Crime Unless Source Illegal(02.06.2016)
Supreme Court while hearing DA case has observed that acquiring assets "per se" is not a crime unless the sources are found to be illegal.
Tags : Supreme Court, Disproportionate Assets Case
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Relaxations for Listed Companies having stressed assets(23.06.2020)
SEBI has decided to relax the pricing methodology for preferential issues by listed companies having stressed assets and exempt allottees of preferent.....
Tags : Relaxations, Listed Companies, Stressed assets
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