modified and cl.....Tags : Prudential guidelines, stressed assets, modification
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Taxability of surplus on sale of shares and securities - Instructions in order to reduce litigation(29.02.2016)
The Central Board of Direct Taxes issued instructions in situations when Assessing Officers hold whether surplus generated from sale of listed shares .....
Tags : capital asset, shares, determination, litigation
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Application to regularize assets held abroad to be sent to RBI(10.02.2016)
The Reserve Bank of India notified consideration of applications at its Central Office in Mumbai seeking regularisation of assets held abroad by a per.....
Tags : Rbi, foreign asset, black money, regularisation
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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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News
RBI Relaxes Stressed Asset Restructuring Rules for Banks(14.06.2016)
Reserve Bank of India (RBI) has relaxed guidelines for restructuring of large stressed assets by lenders in a move that would allow the banks to more .....
Tags : Reserve Bank of India , Asset Restructuring Rules
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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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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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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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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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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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Delhi HC Directs Banks to Keep Status Quo on Asset Classification(09.04.2020)
Delhi High Court has said banks should maintain status quo on asset classification between 1st March, 2020 and 31st May, 2020, the period for which th.....
Tags : Delhi High Court, Status Quo on Asset Classification
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ITAT, Mumbai: Non-Disclosure of Foreign Asset in ITR Not Valid Reason for Imposition of Penalty(08.04.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai has observed that non disclosing of a foreign asset in the income tax return, by itself, is not a valid r.....
Tags : Income Tax Appellate Tribunal, foreign asset, income tax return, Black Money Act, assessee
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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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CIC Rules: “Disclosing Assets of Official’s Spouse Not Permissible under RTI”(04.10.2016)
Central Information Commission (CIC) has ruled that demanding asset details of spouse and dependents of government officials under Right to Informatio.....
Tags : CIC, asset details of spouse
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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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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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RBI Eases Stressed Asset Resolution Norms(11.11.2016)
Reserve Bank of India (RBI) has eased rules for various stressed asset resolution schemes and expanded scope of a loan recast plan previously limited .....
Tags : Reserve Bank of India , infrastructure sector, Stressed Asset Resolution
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ITAT: Depreciation allowable on Toll Collection Rights(15.06.2022)
Income Tax Appellate Tribunal (ITAT), Pune Bench has held that the depreciation under Section 32 of the Income Tax Act, 1961 is allowable on toll coll.....
Tags : ITAT, Toll Collection, Capital Asset
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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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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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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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SC: Time Limit Stipulation Mandating DM to Deliver Possession of Secured Asset Only Directory(06.11.2020)
Supreme Court has held that time limit stipulation in Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Secur.....
Tags : Supreme Court, Delivery of Possession of Secured Asset
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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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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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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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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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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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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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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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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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INSOLVENCY - NCLT Approves RIL-JM Financial ARC's Rs. 5000 cr Bid for Alok Industries(11.03.2019)
National Company Law Tribunal (NCLT) Ahmedabad has approved joint bid by Reliance Industries Ltd-JM Financial Asset Reconstruction Co. Ltd. for insolv.....
Tags : NCLT, Alok Industries, Reliance Industries Ltd-JM Financial Asset Reconstruction Co. Ltd.
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ELECTION - Why No Rule for Assets Disclosure by Candidates: SC to Centre(13.03.2019)
Supreme Court has asked Centre why it had not amended Conduct of Election Rules, as per SC’s 2018 ruling, for compulsory disclosure of assets and sour.....
Tags : Supreme Court, Election, Asset Disclosure
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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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President Pranab Mukherjee Signs Ordinance Giving RBI More Power to Tackle Bad Loans(05.05.2017)
President Pranab Mukherjee has given a nod to an ordinance to amend Banking Regulation Act for resolution of Non-performing Asset (NPA) crisis, thereb.....
Tags : President Pranab Mukherjee, Non-performing Asset
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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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SEBI Issues Notice to Five Asset Management Companies(07.06.2019)
Securities and Exchange Board of India (SEBI) has sent notices to five Asset Management Companies for alleged breach of Insider Trading Regulations. S.....
Tags : SEBI, Asset Management
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Reserve Bank of India Revises Stressed Asset Norms(10.06.2019)
Reserve Bank of India (RBI) has issued a new prudential framework for resolution of stressed assets, effectively replacing its 12 February 2018 circul.....
Tags : Reserve Bank of India, Stressed Asset
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CCI Approves Pramerica's Acquisition of Deutsche MF Business(10.11.2015)
Competition Commission of India (CCI) has approved acquisition of Deutsche Bank's asset management business in India by global fund house Pramerica As.....
Tags : Competition Commission of India , Deutsche MF Business, Pramerica Asset Managers Pvt Ltd.
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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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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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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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CCI Permits Union Bank's 49% Stake Buy in Union KBC AMC(31.12.2015)
Central Information Commission (CIC)has approved Union Bank of India's proposed acquisition of 49 per cent stake in Union KBC Asset Management Company.....
Tags : Central Information Commission , Union KBC Asset Management Company
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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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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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Bom. HC: Writing Off Bad Debt Can’t be Considered as Asset u/s 153A(1) of IT Act(07.09.2023)
Bombay High Court has held that writing-off of a bad debt cannot fall within the ambit of “income, represented in the form of an asset” under Section .....
Tags : Bombay High Court, Bad Debt, Asset, Income-Tax Act
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CCI Approves Reliance Capital-Goldman Sachs Deal(06.01.2016)
Competition Commission of India (CCI) has approved Reliance Capital Asset Management (RCAM) acquisition of Goldman Sachs' onshore asset management bu.....
Tags : Competition Commission of India, Reliance Capital Asset Management
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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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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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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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NCLAT: Asset Can be Kept Out of Liquidation Estate if Asset is Sub-Judice Before High Court(24.01.2022)
National Company Law Appellate Tribunal has held that an asset can be kept out of liquidation estate if the said asset is sub-judice before the High C.....
Tags : National Company Law Appellate Tribunal, Asset, Liquidation
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Mad. HC Sentences TN Minister Ponmudi and his Wife Visalakshi in Disproportionate Asset Case(21.12.2023)
Madras High Court has sentenced Tamil Nadu Minister Ponmudi and his wife Visalakshi to 3 years simple imprisonment in a disproportionate asset case, a.....
Tags : Madras High Court, Disproportionate Asset Case, Minister Ponmudi
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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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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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Delhi HC: No Requirement for CMM to Fix Time Limit for Taking Possession of Secured Asset(17.12.2021)
Delhi High Court has held that there is no requirement or justification for a Chief Metropolitan Magistrate to fix a time limit for taking possession .....
Tags : Delhi High Court, Fix Time Limit for Taking Possession of Secured Asset
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