RECENT NEWS & UPDATES
Posted under Business, Legal, Top Stories, by Shivangi Pandey / 2 days ago
The National Spot Exchange Ltd (NSEL) has got a shot in the arm with the Bombay High Court converting its suit for recovery of Rs 937.89 crore against NK Proteins and others into a commercial suit which would ensure stringent procedural formalities for speedy disposal of the case against the defaulter.
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Posted under Business, Legal, Top Stories, by Shivangi Pandey / 2 days ago
The Ministry of Steel notified the Production Linked Incentive (PLI) Scheme for Specialty Steel in India to be implemented over FY 2023-24 to FY 2029-30 with a budgetary outlay of Rs.6,322 crore. The objective of the PLI Scheme for specialty grade steel is to promote manufacturing of such steel grades within the country.
Read more at Tax Scan
Posted under Business, Judgement, Legal, Top Stories, by Shivangi Pandey / 2 days ago
In an important judgment, the Delhi HC has interpreted Exception 3 to Section 28 of the Indian Contract Act 1872 to hold that it does not deal with 'claim period' under Bank Guarantees. The Court held that this provision deal with the curtailment of the period for the creditor to approach the court or tribunal to enforce the rights under the bank guarantee.
Read more at Live Law
Posted under Business, Legal, by Shivangi Pandey / 4 days ago
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that a person cannot be treated as “de facto trustee” under section 13(3) of the Income Tax Act, 1961 merely because he is supervising the substantial activities of the Trust.
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Posted under Business, Legal, Top Stories, by Shivangi Pandey / 5 days ago
The Karnataka HC held as illegal the consent for establishment granted by the Karnataka State Pollution Control Board for the second stage development of the commercial Karwar port in Karwar in July 2020. However, the court allowed the KSPCB to take a fresh decision for grant of CFE within a month by adhering to the provisions of the laws related to control of air and water pollution.
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