News

NATIONAL NEWS

SC declines to strike down the UOI decision to not to finance Fast Track Courts Scheme

SC has declined to strike down the decision of UOI to not to finance the FTC Scheme beyond 31.03.2011. However, directed the respective States & Central Govt to create 10% of total regular cadre of State as additional posts as per the Higher Judicial Service & Judicial Services Rules of that State.

SC reserves order on delay in deciding mercy pleas

The Apex Court has reserved its verdict on the impact of delay in deciding mercy pleas of condemned prisoners and whether it could result in commuting the death sentence to life imprisonment.

Judge appointed to the Supreme Court of India

The President has appointed Shri Justice Ranjan Gogoi, Chief Justice of the Punjab and Haryana High Court, as a Judge of the Supreme Court of India with effect from the date he assumes charge of his office.

Insurer's liability to indemnify third- party subsists on dishonour of cheque: SC

SC has held that where the insurance policy is issued by an insurer on receipt of cheque towards payment of premium, the liability of insurer to indemnify third-party subsists on cheque bounce, unless the policy is cancelled & intimation of such cancellation has reached insured before accident.

Department of IT renamed as Department of Electronics and Information Technology

Cabinet Secretariat has amended the Government of India (Allocation of Business) Rules 1961 and renamed the Department of Information Technology as Department of Electronics and Information Technology.

TRAI Releases Recommendations on "Exit Policy for Various Telecom Licences"

TRAI has finalised its recommendations on "Exit Policy for Various Telecom Licences" for the Licensees who want to exit from the provisioning of telecom services under a licence.

SC upholds EC criteria on symbol issue

The Apex Court has upheld the criteria of Election Commission for granting symbols to unrecognised registered political parties. The three-judge bench comprising justice Altamas Kabir, S S Nijjar and Jasti Chelameswar has upheld the panel's symbol order by a two to one majority.

Non-Bailable warrants issued against Nupur Talwar gets extended till April 30

Ghaziabad Court has extended the non-bailable warrant issued against Nupur Talwar in the Aarushi murder case till April 30. The CBI has requested two weeks extension to arrest Nupur Talwar.

Vodafone issues notice to govt on proposed amendment to tax law

Vodafone has threatened to initiate arbitral proceedings against the govt's proposal to tax all international mergers by amending Income Tax Act retrospectively, alleging that it violates the international legal protections granted to Vodafone and other international investors in India.

RBI releases Monetary Policy Statement for 2012-13

RBI has released the Monetary Policy Statement for 2012, thereby reduces the repo rate under the liquidity adjustment facility (LAF) by 50 basis points. The repo rate will accordingly drop from 8.5 to 8.0 per cent. [Attached

SEBI Amends Equity Listing Agreement - Formats for Disclosure of Financial Results

SEBI has amended the Clause 41 of Listing Agreement regarding interim disclosure of financial results by listed entities to the stock exchanges, which has been drawn from the format under Schedule VI of the Companies Act, 1956.

India and UAE signs agreement to amend Double Taxation Avoidance Agreement

India and UAE has signed agreements to amend the double taxation avoidance agreement during India-UAE Joint commission meeting. The agreement so signed would pave the way to greater sharing of tax-related information between the two.

Increase in onion prices during December 2010 was not in violation of Section 3(3): CCI

In a suo motu case, Competition commission has held that increase in onion prices during December 2010 cannot be attributed to an agreement or action in concert with the meaning of section 3(3) of the Competition Act, 2002.

DoT's power to penalise operators uphold by TDSAT

TDSAT has upheld the power of DoT to impose penalty on operators for not completing formalities of customers verification for security purposes.

Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR)

The circular giving the broad guidelines as issued by SEBI on the recommendations of its Technical Advisory Committee (TAC) is attached herewith.

CIC: RTI Act not a Dispute Redressal Mechanism for settlement of private individual grievances

CCI held that RTI Act is not a dispute redressal mechanism to settle disputes which can be resolved through appropriate channels established by law. Organizations exempted U/s 24 of RTI Act cannot be subjected to provide such information which the Act itself does not mandate them to furnish.

Information to application delayed. CIC fines self

The Central Information Commission has fined itself by directing the PIO to give compensation of Rs. 3000/- to an applicant for causing delay in providing the information. PIO was held guilty of not furnishing complete information within the time specified U/s 7(1) of the RTI Act.

Posting of Spouse to other location cannot be considered as Desertion and hence a ground for divorce

Bombay HC: Husband cannot cite posting to any other location as a ground for divorce by taking the plea of Desertion.

Accused should establish vital irregularity and defect in investigation to challenge charge sheet

Gauhati HC: Discharging an accused from being prosecuted by an investigating agency cannot ipso-facto cause any prejudice to the co- accused. The accused, challenging the charge sheet, has to establish that because of un-skilled investigation, the accused has suffered prejudice.

TRAI has issued 'The Reporting System on Accounting Separation Regulations, 2012'

The New Regulation as issued updates, rationalises and standardizes the reporting system & strengthens audit & accountability provisions. These shall apply to all service providers having aggregate turnover of not less than Rs. 100 cr.

Benevolent legislations like Juvenile Justice Act cannot be allowed to be misused: SC

The Protection of benevolent legislation i.e. the Juvenile Justice Act cannot be made available to an accused who in fact is not a juvenile but seeks shelter merely by using it as a protective umbrella or statutory shield.

The Hawkins case - Use of TM when reasonably necessary to indicate that goods are so adapted

The Delhi High Court today decided the issue whether printing of the word "Hawkins" in red, when the words "suitable for" and "Pressure Cookers" are printed in black on the packaging material amount to infringement of trademark.

Apex Court has admitted Review Petition by Government in 2G Scam

The Apex Court has admitted the Petition seeking review of its judgment passed in 2G scam pertaining to allocation of natural resources only through bidding process.

Delhi Court withdraws content case against Google India

Delhi Court has taken out the Google India's name from a lawsuit for the trial of various social networking website for allegedly hosting offensive content after it was pleaded that Google was merely a software developing firm and does not control or operate any social networking website.

Govt to introduce Marriage Registration Bill

Union cabinet has decided to introduce the marriage registration bill seeking to make registration of marriage mandatory notwithstanding of one's religious affiliation. Accordingly, has approved the introduction of a Bill in the Budget Session of Parliament to amend the Registration of Births and Deaths Act, 1969 to include registration of marriages as well, so that the existing administrative mechanisms will be able to carry out such registration of marriages in accordance with the specified procedures and be able to maintain necessary records and statistics for registration of marriages also.

Public Procurement Bill, 2012 cleared by Union Cabinet

The Union Cabinet has cleared the Procurement Bill seeking to improve competition and make bidding processes open and accountable. The Bill seeks to regulate procurement controlled by Central Government.

Union Cabinet approves turnaround plan for Air India

Union Cabinet has approved the turnaround and restructring plan for embattled national carrier Air India, which includes additional equity infusion by the government.

SC upholds constitutional validity of Right to Education Act

Supreme Court upholds the constitutional validity of Right to Education Act, 2009, which mandates 25 per cent free seats to the poor in government and private unaided schools uniformly across the country.

SC Directs SEBI to Reconsider MCX Stock Exchange's Plea

SC has directed SEBI to amend its regulation and consider MCX Stock Exchange's application seeking permission to offer equity trading within three months. Accordingly, SEBI need to relook norms relating to the manner of increasing and maintaining public shareholding in recognized stock exchanges.

Judge Appointed to the Delhi High Court

The President has appointed Shri Justice Sunil Gaur, Additional Judge of the Delhi High Court, as a Judge of the Delhi High Court with effect from the date he assumes charge of his office.

INTERNATIONAL NEWS

US Supreme Court rules in favour of Sun Pharmaceuticals Industries

US Supreme Court has held that a generic manufacturer may employ the counterclaim provision to force correction of a use code that inaccurately describes the brand's patent as covering a particular method of using a drug while deciding in favour of Sun Pharmaceuticals. [File attached]

Pak SC allows 3 Hindu women to decide own future

Three Hindu women, who were allegedly forced to convert to Islam and marry Muslims, were allowed by Pakistan's Supreme Court to decide their own future holding that women were old enough to make the right decisions for themselves.