News
Environmental clearance - Requirement of public consultation, mandatory
14 September 2016
An appeal was brought before the Supreme Court challenging the order passed by the High Court which had set aside the environmental clearance granted to the appellant in the year 2010 (“EC”) for expansion of its steel plant on the ground that the said EC was granted relying on the public consultation carried out earlier in the year 2007; and that no fresh public consultation had been done for the latest expansion of the steel plant of the appellant.
Withdrawal of public offer when not possible
14 September 2016
Consequent to the open offer made by the acquirers, intending to acquire 75% equity share of the target company, the target company informed SEBI of it being registered with BIFR and stating that it was a sick company.
Trademarks in domain name – Bonafide adoption of corporate name as domain name, correct
14 September 2016
In a suit alleging trademark infringement, dishonest adoption and passing off, where the cause of action arose out of use of a domain name, the Bombay High Court on 20-7-2016 has held that every domain name cannot form subject of trade-mark protection.
Companies (Share Capital and Debentures) Rules, 2014 amended
13 September 2016
The Ministry of Corporate Affairs (“MCA”) has, by way of Notification dated 19-7-2016 amended the Companies (Share Capital and Debenture) Rules, 2014 (“Capital and Debenture Rules”).
Stay of Proceedings where validity of registration of trade mark questioned
13 September 2016
In the matter of FAO (OS) No. 717/2010 involving Times Publishing House LTD and Financial Times Ltd & Ors., a Divisional Bench (DB) of the High Court of Delhi, on 29 August 2016, sustained the order of the Single Judge dismissing the application under Section 124 of the Trade Marks Act, 1999 made by Times Publishing House Ltd (Times, hereinafter).
Provisional assessment – India relaxes Customs regime
24 August 2016
Central Board of Excise and Customs (CBEC) under the Indian Ministry of Finance has simplified the procedure for provisional assessment in case of import of goods, as provided in Section 18 of the Customs Act, 1962.
Special Advance Authorisation Scheme for export of apparels, introduced
19 August 2016
Special Advance Authorisation Scheme for promotion of export of apparel articles and clothing accessories of Chapter 61 or 62 of ITC (HS) has been introduced. Notification No. 21/2015-20, dated 11-8-2016 issued by Directorate General of Foreign Trade (DGFT) in the Indian Ministry of Commerce, inserts Para 4.04A in the Foreign Trade Policy 2015-20, with effect from 1-9-2016.
Revised Excise Returns – Provisions in force from 17-8-2016
19 August 2016
Central Board of Excise and Customs (CBEC) has notified the effective date for operation of provisions regarding filing of specified revised returns under Central Excise Rules, 2002.
Setoff under VAT when sales also made to exempted units
19 August 2016
Allahabad High Court has held that Section 4-BB of the Uttar Pradesh Trade Tax Act, 1948 (UPTT Act), which provides for set-off of tax, did not make any distinction between sales made to exempted units and taxable sales, i.e. set-off is not restricted to only those sales upon which tax was levied or collected.
Cenvat credit not to be denied for technical lapse
29 July 2016
In line with the spirit of upcoming GST law, Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has reiterated that Cenvat credit is not to be denied on technical ground. It has also been held that lack of vehicle number on the invoice is not relevant.