19 October 2020

Search Results for Tag : Assets


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


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


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


Notifications & Circulars

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


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


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


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


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


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



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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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



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


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


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