User: prs Topic: Legal-News
Category: Acts
Last updated: Aug 19 2017 19:39 IST RSS 2.0
 
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Insolvency law aims at saving promoters not banishing them: Arun Jaitley 19.8.2017 ET: Policy
The new regulations are viewed by some as giving upper hand to lenders who are reeling under Rs 8 lakh crore of non- performing assets (NPAs) or bad loans.
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Last Date for Payment of Gst and Filing of Return For July 2017 Extended By 5 Days 19.8.2017 Govt of india: PIB
The GST Implementation Committee, consisting of State and Central Government officers, has taken a decision to extend the last date for payment of the GST for the month of July 2017 to 25th August, 2017.
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FM inaugurates the National Conference on Insolvency and Bankruptcy :Changing Paragdigm in Mumbai 19.8.2017 Govt of india: PIB
“The Union Minister of Finance, Defence and Corporate Affairs, Shri Arun Jaitley said that since the Insolvency and Bankruptcy code has been implemented a few months back, this has changed the debtor and creditor relationship.
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NPA resolution not to liquidate companies, but to help save them: Arun Jaitley 19.8.2017 DNA: Top News
Union Finance Minister Arun Jaitley on Saturday assured balance-sheet stressed firms that the government is looking to help them. He said  in Mumbai that the government and RBI is aggressively looking for NPA resolution, not to liquidate businesses but to help them. Jaitley said that the new insolvency law has significantly reversed defaulting debtor-creditor relationship.Arun Jaitley addressing an  insolvency summit organised by industry lobby Confederation of Indian Industry (CII) said, "The ultimate objective really is not liquidation of assets, (but) to save these businesses, get either the existing promoters with or without new partners or new entrepreneurs to come in and make sure that these valuable assets are preserved". Explaining the rationale for the new insolvency and bankruptcy code (IBC), he said, this was necessitated by the failure of debt recovery tribunals to effectively perform their duty after the initial success. When enacted, the Sarfaesi (Securitisation and Reconstruction of ...
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MBA, engineering grads work as sanitary staff 19.8.2017 TOI: Home
Coimbatore corporation has offered cleaning jobs to children of deceased sanitary workers after rejecting applications to the posts their educational qualification entitle them. The corporation in the last three years has asked 50 schedule caste candidates to inherit such jobs of their parents.
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SICA experiment was an absolute failure: FM Arun Jaitley 19.8.2017 ET: Policy
RBI's earlier efforts met with some success but eventually it was still hard for creditors to change defaulting debtors, said Arun Jaitley.
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Coimbatore civic body offers sweepers jobs to MBA, engineer grads 19.8.2017 Coimbatore - City - The Times of India
Coimbatore corporation has offered cleaning jobs to children of deceased sanitary workers after rejecting applications to the posts their educational qualification entitle them. The corporation in the last three years has asked 50 schedule caste candidates to inherit such jobs of their parents.
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Ignoring FERA summons a criminal offence: Apex court 18.8.2017 DNA: Top News
Disobeying summons issued by an investigating agency under the money laundering law amounts to a criminal offence, the Supreme Court held on Thursday. The SC order came as it set aside a Karnataka High Court order that had held that disobedience of summons for appearance did not amount to contravention of the provisions of the 1963 Foreign Exchange Regulation Act (FERA). "In any event, the judgment of the High Court cannot be sustained as it is contrary to the law laid down by this court," a bench of justices SA Bobde and L Nageswara Rao said. The bench passed the judgement on an appeal filed by the Enforcement Directorate (ED) challenging the high court order. Summons were issued under Section 40 of FERA in October 1997 directing three accused who were allegedly involved in releasing substantial foreign exchange in contravention of the law, to appear before ED officer, but they had failed to respond. Thereafter, a complaint was filed against them in a court in Bangalore where one accused Mohammed Akram ...
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7 more 5-star hotels get penalised 18.8.2017 DNA: Money
A day after it penalised five-star hotels such as the Taj Palace and Taj Vivanta in Delhi, the National Green Tribunal (NGT) on Thursday imposed environment compensation on seven more plush hotels for violations of Solid Waste Management Rules (SWM), 2016. A three-member bench headed by NGT Chairperson Swatanter Kumar imposed the compensation as it continued hearing on the Almitra Patel matter on countrywide implementation of SWM Rules. The penalties were imposed after the NGT reviewed an expert body's recommendations, which had inspected the waste management scenario by bulk generators such as hotels, hospitals, colleges and railway stations. The Tribunal imposed compensation of Rs 3 lakh each on Mahagun Hotel, Leela Venture Ltd., Fraser Suites and Royal Plaza. Park Inn Hotel was imposed a compensation of Rs 2.5 lakh, and the Radiance Motel and Golden Petal Hotel were imposed Rs 2 lakh each. The bench pulled up Radiance Motel after it pleaded that it was not generating much waste. The hotel was asked to ...
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NDMC seals CP kiosk for encroachment 18.8.2017 DNA: Money
The New Delhi Municipal Council (NDMC) has swung into action after the Ministry of Home Affairs (MHA) issued directions to crack down on errant officers allowing encroachment, and occupants encroaching on public places. The Council on Thursday sealed a beverage kiosk in Connaught Place for encroaching on the pavement. According to NDMC officials, the kiosk was originally allotted to be run as a flower kiosk, however, the owner had "illegally transferred" the property to a beverage owner. "We have sealed the kiosk, as it was illegally being used as a godown. The owner was distributing beverages in the area from here. There were crates of beverage containers stuffed on the pavement," a senior enforcement officer said. The kiosk near gate number 6 of Palika Bazar was given on a license fee of Re 1 to one Ramesh Kumar in 1983, which was not on market rate, in lieu of the National Bravery Award given to him in 1982. Court Ruling The matter was under litigation after the owner approached the Delhi High Court ...
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I-T plans to pursue property-holders who have never filed income tax returns 18.8.2017 ET: Policy
Enforcement action will be taken only in cases where there is concrete evidence. Otherwise, tax authorities will follow a non-intrusive approach.
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Noida to manage its construction waste 17.8.2017 TOI: Cities
Noida Authority is getting ready to recycle and use its construction waste material.
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Not just banks and firms, even home buyers can claim their money under new bankruptcy law 17.8.2017 ET: Policy
The revised regulations come at a time when a large number of flat buyers have been left in the lurch, especially in the National Capital Region (NCR).
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Surge in Gold imports: Government notifies rules for safeguard probes against South Korea 17.8.2017 ET: Foreign Trade
The move comes against the backdrop of surge in gold imports from South Korea. India and South Korea implemented a comprehensive free trade agreement (FTA) in January 2010.
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Defiant UP madrasas might face NSA case 17.8.2017 DNA: Popular News
Quite a few madrasas (Islamic schools) in Uttar Pradesh may face action under the stringent National Security Act (NSA) for partly defying the Yogi Adityanath government's order that the tricolour must be unfurled and the national anthem recited on their premises as part of Independence Day celebrations. The NSA was enacted in 1980 primarily to deal with the country's security, defence and foreign relations. It has provisions to detain citizens on presumption of possible tension alone without any recourse to challenge the detention order. Many of UP's 16,000 madrasas didn't take the order well that was to "inspire students and help them learn more about the contribution of freedom fighters". A few madrasas in Western UP's Bareilly and elsewhere in the state did flag hoisting but refused to recite the national anthem — Jana Gana Mana... — on the ground that "Islam does not allow anyone except Allah to be praised". A few Hindu organisations and locals lodged a complaint with Bareilly divisional ...
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No silence zones in city since August 10 17.8.2017 DNA: Urban Tales
Since August 10, no spot in the city or the state has officially been a silence zone, not even the mandatory area of 100-metre radius around hospitals, educational institutions, courts and religious places. The state government, which is the sole authority to notify such zones, will soon re-notify these areas, but till that happens, they have ceased to be silence zones. An affidavit filed in the Bombay High Court by the state government on Monday states that as per an amendment to the Noise Pollution (Regulation and Control) Amendment Rules, 2017, by the Union Ministry of Environment, Forest and Climate Change, unless any area bound by these rules is notified by the ‘state’, it cannot be considered a silence zone. The affidavit goes on to state that since August 10, any area comprising not less than 100 metres around all hospitals, educational institutions or religious places could not constitute a silence zone unless specified.  Moreover, the Union government gazette states that the state government or ...
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Knee implants to cost up to 69% less 17.8.2017 TOI: Home
The government has slashed the prices of knee implants by between 59% and 69% using a special provision in the drug pricing law that enables it to intervene in “extraordinary circumstances” in public interest. The move is expected to benefit over three crore arthritis patients in India needing knee replacement surgery.
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Govt extends tax break for industry in hilly states till 2027 16.8.2017 DNA: Mumbai
Industries in the north eastern and Himalayan states will continue to get tax exemption till March 2027, albeit as refund, under the current GST regime which was rolled out on July 1, Finance Minister Arun Jaitley said today. "Within the framework of the GST Act each industry will be entitled to its own refund mechanism during this particular period (March 31, 2027)," he said. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given approval to the Scheme of providing budgetary support under the Goods and Service Tax (GST) regime for the eligible industrial units in Jammu & Kashmir, Uttarakhand, Himachal Pradesh and north eastern states including Sikkim, he said. The support shall be available for the residual period (ten years from the date of the commercial production) in the States of North Eastern region and Himalayan States, he said. DIPP will notify the scheme, including detailed operational guidelines for its implementation within 6 weeks, he added. Under the ...
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Pass specific directions to states on jail reforms: Govt to Supreme Court 16.8.2017 DNA: Mumbai
The Centre today urged the Supreme Court to pass "specific directions" to states to conform with the orders on jail reforms, including overcrowding of prisons and improving the living conditions of prisoners. Attorney General K K Venugopal, appearing for the Centre, told a bench of Justices Madan B Lokur and Deepak Gupta that if specific directions were passed, the states would have to comply with it, otherwise they would be guilty of not adhering to the apex court's order. He argued that the apex court could take up the prison reforms issue in six or seven states at a time and pass specific directions to them after hearing the matter. "This court should issue specific directives to each state. If that (court's direction) is not done, they (states) will be guilty of not complying with your orders," he told the bench, adding, "you can consider listing the matter of three states at a time. The Union of India will be there". However, the bench said, "there would be some problem in this. If we will take ...
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Trade unions object to new draft of Factories Amendment Bill 16.8.2017 TOI: India
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