legal
In a first of its kind legal defamation against private equity firms, a group of non resident Indians have come together to sue ICICI ventures seeking damages for losses on their investments. A total of 69 non residents Indians have issued a joint statement accusing Dynamic India Fund III run by ICICI Venture of misleading [...] Continue Reading »
The final investigation report pertaining to the Saradha scam has been submitted to the Government’s Corporate Affairs Ministry by the Serious Fraud Investigation Office (SFIO). The submission of the report comes after the SFIO’s year-long investigation into the scam, in which thousands of crores of rupees were swindled from lakhs of investors in West Bengal, [...] Continue Reading »
In less than a year of amicably resolving the property dispute within family members, the Royal Gaekwad Family of Baroda is once again faced with legal battle over some of its property. Vadodara-based realtor CK Shah has moved the Gujarat High Court against Sangramsinh Gaekwad and family, the heir of erstwhile king of Baroda, for [...] Continue Reading »
The esteemed and very well known Bombay high court on Tuesday was under fire when it gave out its reasons for rejecting the interim relief to Mumbai based lawyer who wanted to stop a buyer from making inroads into a posh flat in south Mumbai, Colaba. The HC vacation was moved when advocate Rajiv Bhatia [...] Continue Reading »
Meenakshi Shelters India Pvt Ltd, run and owned by a 33 year old woman was clamped down upon by legal authorities. The crime of the woman realtor was that she sold property which she claimed was free of liens and ownership when it was not, to others using forged documents. When people got to know [...] Continue Reading »
The new bench, which was constituted by the Supreme Court to hear the Sahara case, is scheduled to begin proceedings in the matter today, May 19. The justices that comprise the new Supreme Court bench for hearing the Sahara case include justices TS Thakur and AK Sikri. The constitution of the new bench was necessitated [...] Continue Reading »
Based on suggestions of Parthasarathi Shome panel that was set up to address the grievances of the industry, the government recently said it has clarified on 76 issues related with direct and indirect taxes. An official release said Finance minister P Chidambaram has discussed these issues and has taken final decisions to remove difficulties faced [...] Continue Reading »
The new company law in India has a mandate for a few qualified companies to spend 2% of profit on CSR. However, it is proving very difficult for companies with an overseas stakeholding of more than 50% to do just that. Such companies cannot set up CSR foundations because donations from such companies are treated [...] Continue Reading »
Bangalore- The construction of an organic waste convertor unit at Jayanagar was opposed by the residents fearing the negative effects of the convertor. Concerned about the health hazards associated with the organic waste converter unit, the residents of Jayanagar staged a protest to stop the unit from being set up on the Jayanagar swimming pool [...] Continue Reading »
The under-construction buildings which were purchased by buyers in the past six years will not attract any VAT (Value Added Tax). It was told by the legal and tax consultants that residents under Mhada will not have to pay any VAT as Mhada does not enter into any sale agreement with its buyers unlike in private transactions. As per [...] Continue Reading »
