| You may face Jail if compensation not paid for bounced cheque Posted: 23 May 2010 06:47 PM PDT 
If a person convicted for issuing a cheque without balance in his bank account is ordered to pay compensation to the payee, he can be sentenced to imprisonment under Section 357(3) of the Criminal Procedure Code, the Supreme Court has held in the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| No waiver of pre-deposit condition for sick units Posted: 23 May 2010 06:46 PM PDT 
The Delhi high court has dismissed the appeal of Swadeshi Cement Ltd against the order of the Debt Recovery Appellate Tribunal asking it to deposit 25 per cent of the dues before moving the court. The creditor, Asset Care Enterprises, had invoked... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Award of the sole arbitrator enforceable in India: Delhi HC Posted: 23 May 2010 06:45 PM PDT 
The Delhi high court last week declared that the award of the sole arbitrator appointed by the International Court of Arbitration in the dispute between Fittydent International GmBH and Brawn Laboratories was enforceable in India. The award was in... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| High courts cannot invent methods to resolve disputes: SC Posted: 23 May 2010 06:41 PM PDT 
THE Supreme Court has severely criticised the Allahabad High Court for introducing 'novel' methods to resolve disputes between a power company and consumers. It upheld the claim of the Uttar Pradesh Power Corporation of dues from Amausi Textile... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Ambani brothers agreed to dump their differences Posted: 23 May 2010 06:38 PM PDT 
Striking a cordial note, the warring Ambani brothers today agreed to dump their differences and non-compete agreements saying this would eliminate any room for further "disputes". Announcing that they would also expeditiously negotiate gas supply... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| 5 months- 73 bank in US failed more failures expected Posted: 23 May 2010 06:33 PM PDT 
With the banking sector continuing to wobble under financial woes 14 US banks on an average are folding up every month, while the count of troubled entities -- those at increased risk of failure -- has jumped to 775. Indicating that the problems... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| SEBI penalized HSBC InvestDirect for misuse of client's funds and securities Posted: 23 May 2010 06:30 PM PDT 
Stock market regulator Securities & Exchange Board of India has imposed a penalty of Rs 40 lakh on HSBC InvestDirect Securities for misusing client's funds and securities.The regulator, during its inspection, had found HSBC InvestDirect... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| TDS Rate U/s. 206AA – If No Pan on Payment to Non-Residents Posted: 23 May 2010 01:51 AM PDT 
The Finance (No.2) Bill, 2009 had introduced a new section 206AA in the Income-tax Act, 1961 (ITA), which provides that every recipient of income is required to furnish its Permanent Account Number (PAN) i.e. tax registration number to the payer. ... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Injustice with CA final students Posted: 22 May 2010 09:13 PM PDT 
ICAI has recently conducted examination for CA students in May 2010. In examination in the paper of Corporate law and Accountancy ICAI has asked questions on topics which were excluded by ICAI by various announcement from the syllabus. Students were... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
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