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[No.69]
November 30, 2003 |
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International Legal News
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Cases
Source:
Westlawinternational.com
A mother was equitably estopped from litigating the parentage of her child, even
though DNA testing indicated that a man other than the putative father was the
biological father of the child. The mother had repeatedly told the putative
father that he was the child's father even though she knew that the other man
might be the biological father. The mother dissuaded both the putative father
and the biological father from pursuing genetic testing, and she continued this
deception for more than four years after child was born, until custody
litigation loomed on the horizon. The putative father had no reason to suspect
he was not the biological father, and the biological father had no contact with
child.
In re Shockley
A district court could not apply a regulation's general rule that an alien and
his citizen wife were to reside in the same home for three years prior to the
alien petitioning for expedited naturalization, without considering the
applicability of the exceptions provided in the regulation. Although there was
language in the Eleventh Circuit's opinion in United States v. Maduno suggesting
an actual residence requirement, Maduno did not hold that the actual residence
requirement was absolute, or that the exceptions provided for in the regulation
were invalid or otherwise inoperative.
U.S. v. Onabanjo
A retainer fee agreement allowing an attorney to recover a contingent fee of 20
percent of the net sales proceeds for the client's stock in a corporation, with
a $500,000 cap, if the attorney was instrumental in obtaining the sale was fair
and reasonable when it was executed. An expert witness testified the contingent
fee was less than the typical contingent fee of 25 to 50 percent and less than
the most common contingent fee of one-third. The client had insisted on a
contingent fee arrangement rather than an hourly fee, and collection of the
contingent fee was uncertain because the client had the right to refuse to sell
the stock. Finally, the fee agreement obligated the attorney to represent the
client in "all matters" relating to the corporation.
Miller v. Kennedy & Minshew, Professional Corp.
An attorney's neglect in 14 separate probate matters, including his failure on
numerous occasions to timely file Annual Accounts and Final Accounts in
guardianship and conservatorship proceedings, warranted an indefinite suspension
from the practice of law. The Supreme Court held that, while the attorney did
not harm his clients financially, his neglect led to the waste of judicial
resources. The attorney's failure to file the required accounts led the probate
court to repeatedly issue citations to the attorney requiring him to personally
appear and show cause for his failure to file the accounts. Moreover, attorney's
misconduct was exacerbated by fact that he did not cooperate with the
investigation into his misconduct, and the fact that the attorney was previously
disciplined for mismanaging and mishandling an estate and failing to cooperate
with disciplinary process.
In re Disciplinary Action against Cutting
News
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Following the U.S Supreme Court ruling in State
Farm Mutual Automobile Insurance Co. V. Campbell, California court of appeal
issued a bombshell ruling altering long-established punitive damage process. The
ruling reduces the largest punitive damage ever upheld by a California appellate
court from $290 million to about $23.7 million. In State Farm Mutual
Automobile Insurance Co. V. Campbell, U.S Supreme Court had narrowed the
scope of punitive damages, saying they must bear some reasonable relationship to
the individual injury at issue and the compensatory damages awarded. While
interpreting Supreme Courts ruling, the Fresno court held that punitive damages
can be awarded only in relation to the harm to the plaintiffs in a particular
case -- not as a bludgeon to deter similar acts in the future. The court also
said a defendant's general wealth can be taken into account only to determine
the appropriate punishment for any particular malicious conduct, not for
across-the-board problems.
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U.S senate has approved the Anti- Spam bill but
with slight modifications. The approval come on Tuesday, last weak in a voice
vote. The legislation is aimed at reducing unwanted commercial e-mails and
final vote will be taken in the house on December 8th before being sent to the
White House for President Bush's signature. According to the White House,
President Bush intends to sign it.
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U.S Supreme Court will hear oral argument on
Tuesday next weak in Joshua Davey's case. The case pits Washington state's
tough ban on using public money for religious purposes against the federal
Constitution's guarantee of freedom of religion. Davey had qualified for a
Promise Scholarship, a state-funded program for high-achieving students of
modest means but was denied to him when he decided to study for the ministry at
Northwest College in Kirkland as the Washington Constitution bans the use of
public money for religious instruction. A ruling in Davey's favor could overturn
similar prohibitions in as many as 36 other states.
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A Paris court on Friday acquitted three photographers, in
Princess Diana's case stating that they had not violated any French Privacy laws. The
three had taken photographs of Diana and her companion Dodi al Fayed in their
car on the night of the 1997 crash. Three of them could have faced a year's jail
term and a possible fine of 45,000 euros ($53,000), had they been found
guilty.
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French Prime Minister Jean-Pierre Raffarin
announced in a meeting of his governing UMP party that he plans to
introduce a bill aimed at protecting women. This bill could in effect ban Muslim
women from wearing headscarves in public institutions.
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SEBI
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Secondary Market Division
Circular No. SEBI/CFD/DIL/SE/43/2003
Dated 20.11.2003 : SEBI has decided to reduce the notice period, by the listed
companies to the stock exchanges about their book-closure / record date, in
phases to ensure that there is minimum discomfort to the market players.
therefore, it has been decided that in the first phase, the notice period may be
reduced to 15 calendar days in case of demat scrips and to 21 calendar days in
case of physical scrips in comparison of earlier period of 30 days and 42 days
for demat scrips and physical scrips respectively.
Accordingly, all the stock
exchanges have been advised to implement the decisions immediately and make
necessary amendments to the bye-laws and listing agreement wherever necessary.
The exchanges have also been directed to bring the provisions of this circular
to the notice of the member brokers/clearing members of the exchange and also to
put up the same on the website for easy access to the investors.
Circular No. SEBI/MRD/SE/Cir-
42 /2003 Dated 19.11.2003 : With a view to increase the transparency in the
dealings between the broker and the client, it has been decided that every
broker shall disclose to his client whether he does client based business or
proprietary trading as well. The broker is now required to disclose the
aforesaid information to his existing clients within a period of one month from
the date of this circular. Further, the broker has to disclose this information
upfront to his new clients at the time of entering into the Know Your Client
agreement.
The Stock Exchanges have been
directed to make necessary amendments to the relevant bye-laws, rules and
regulations for the implementation of the above decision immediately, as may be
applicable.
Circular No. IMD/PMS/CIR/1/21727/03
Dated 18.11.2003 : As it is already known, all portfolio managers are required
to disclose the performance of their portfolios to their clients, including
disclosure of the performance indicators calculated on the basis of weighted
average method taking each individual category of investments for the
immediately preceding three years in case of discretionary portfolio managers.
In order to make the investors fully aware about how their funds have been
deployed and also to give them an objective analysis of the performance of the
portfolios being managed by the portfolio managers on discretionary basis in
comparison with the rise or fall in the markets, it has been decided to disclose
the performance of benchmark indices in the periodical reports to be furnished
to the client in terms of Regulation 21 of SEBI (Portfolio Managers)
Regulations, 1993. The portfolio managers may select any of the indices
available, e.g. BSE (Sensitive) index, S&P CNX Nifty, BSE 100, BSE 200 or
S&P CNX 500, depending on the investment objective and portfolio of the
client. These benchmark indices may be decided by the portfolio managers and any
change at a later date shall be recorded and justified with specific reasons
thereof.
The Boards of portfolio
managers may review the performance of the funds managed by them for each client
separately in their meetings and should take corrective action wherever
necessary. They may also compare the performance of the portfolios with
benchmarks. Boards of the portfolio managers should review the compliance of
regulations in their periodical meetings. There shall be internal audit by a
practicing CA or CS so as to judge the quality of internal procedures being
followed by the portfolio manager. The portfolio manager shall exercise due
diligence in all their operational activities.
Foreign Institutional Investor
Circular No. IMD/CUST/9/2003
Dated 20.11.2003 : It has been decided that those FIIs who do not have any
outstanding off-shore derivatives shall submit a statement of 'Nil' report
once in a quarter instead of a fortnightly basis provided that they submit the
following undertaking to SEBI:
" We undertake that we shall
submit reports of issuance / renewal / cancellation / redemption of offshore
derivative/financial instruments against underlying Indian securities on a
fortnightly basis as prescribed in Circular No. IMD/CUST/8/2003 dated August 08,
2003 as soon as we have issued/subscribed any such off-shore derivative
instrument."
After submission of the
undertaking , FIIs having nil outstanding off-shore derivatives need not submit
'Nil' report for the remaining fortnights during the current quarter and the
first quarterly 'Nil' report shall be submitted commencing from the quarter
ended December 2003 . The quarterly 'Nil' reports shall also contain the
aforesaid undertaking.
It is clarified that all FIIs
having outstanding off-shore derivatives or who issue / renew / cancel / redeem
such off-shore derivatives shall continue to report on a fortnightly basis
issuance / renewal / cancellation / redemption of the aforesaid instruments to
SEBI as per the format prescribed in Circular No. IMD/CUST/8/2003 dated August
08, 2003 .
Press Releases
Press Release No. PR 288/2003
Dated 27.11.2003 : , Shri.C B Bhave, Managing Director, National Securities
Depository Ltd. (NSDL) has been appointed as member of CLA with effect from 6th
November 2003 in place of Shri.Manjit Singh, who has resigned from Ludhiana
Stock Exchange and by virtue of such resignation, also resigned from the
membership of CLA on 6th September 2003. Shri.C B Bhave is appointed for a term
of three years with effect from that date.
Press Release No. PR 286/2003
Dated 25.11.2003 : It has been decided that in respect of the unlisted
securities which have already been issued and may be traded in the secondary
market, a transition time is being given up to March 31, 2004 to enable the
participants and issuers to conform to the guidelines related to Secondary
Market For Corporate Debt Securities issued by SEBI. Consequently, during this
transition period, the existing corporate debt securities could continue to be
traded in the secondary market.
Press Release No. PR 285/2003
Dated 25.11.2003 : SEBI had devised a Strategic Action Plan for the year 2003-04
in order to make the "Indian Securities market, a Benchmark for the
Globe' The Strategic Action Plan has been drawn with four
broad segments: a) Investors b) Market c) Intermediaries and d) Regulator in
mind. During the period April 2003 to November 2003, a number of initiatives
have been taken with a view to achieve the targets under the Plan. Some of the
significant developments have been made related to viz. T+2 rolling settlement
was introduced, Central Listing Authority (CLA) was constituted, Trading in
Interest Rate Derivatives was launched and many more.
Press Release No. PR 284/2003
Dated 25.11.2003 :Securities and Exchange Board of India has notified the SEBI
[Central Database of Market Participants] Regulations 2003 for creation of a
central database of market participants and Investors and grant of Unique
Identification Numbers [MAPIN DATABASE]. The Database has been launched on
November 25, 2003 by Shri G. N. Bajpai, Chairman, SEBI. Shri C. B. Bhave,
Managing Director, NSDL gave the first unique identification number and identity
card to Shri Bajpai on this occasion.
SEBI has the intention to
achieve the following through these Regulations:
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Department of Company Affairs
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Notification No. SO 1331(E)
Dated 20.11.2003 : The Central Government has specified the four regional
constituencies comprising of different states for the purposes of elections to
the Council of the Institute of Cost and Works Accountants of India, namely:-
Western India Regional
Constituency
Southern India Regional
Constituency
Eastern India Regional
Constituency
Northern India Regional
Constituency
Notification No. SO 1330(E)
Dated 20.11.2003 : The Central Government has specified the four regional
constituencies comprising of different states for the purposes of elections to
the Council of the Institute of Company Secretaries of India , namely:-
Western India Regional
Constituency
Southern India Regional
Constituency
Eastern India Regional
Constituency
Northern India Regional
Constituency
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CBDT
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Notification No. 299/2003 Dated
21.11.2003 : In the Income-tax Rules, 1962 in Part IX, for rules 42 and 43 has
been substituted. Also, in Appendix II after Form No. 30, new forms "Form
No. 30A, 30B and 30C" has been inserted.
Also, Form No. 31 and 33 have
been substituted by the new Form No. 31 and 33 respectively. Apart from that
Form No. 32 and Form No. 34 have been omitted.
Notification No. 298/2003 Dated
20.11.2003 : In the Income-tax Rules, 1962, after rule 6G, the following has
been inserted, namely:
"CCC-A.- Report of audit in
case of Income by way of royalties etc, in case of non-residents.
6GA. Form of report of audit to
be furnished under sub-section (2) of section 44DA.
The report of audit of accounts
of the non-resident (not being a company) or a foreign company, which is
required to be furnished under sub-section (2) of section 44DA shall be in Form
No. 3CE.II";
Also, in Appendix II, after
Form No. 3CD, Form no. 3CE has been inserted.
Instruction No 16/2003 Dated
18.11.2003 : Having regard to the modified structure of the committees for
recommending write-off the Zonal Committees have been constituted and are
notified. The Regional Committees will be constituted and notified by the
respective cadre controlling CCsIT under intimation to the Board. Likewise, the
Local Committees will be constituted and notified by the CCsIT concerned under
intimation to the Board. The constitution of the committees for various charges
will be fixed. In the event of a vacancy in any charge, another Chief
Commissioner / Commissioner (s) / Addl CIT / JCIT, as the case may be, available
in the same city or the nearest charge, may be requested to work on the
committee. These arrangements will, however, be temporary till the vacancy is
filled. The committees will meet at least once a month
Notification No. 304/2003 Dated
21.11.2003 M/s Chennai Container Terminal Private Limited, Mumbai Approved u/s
10(23G)
Notification No. 303/2003 Dated
21.11.2003 M/s Mahakali Flyover Limited, Mumbai Approved u/s 10(23G)
Notification No. 302/2003 Dated
21.11.2003 Emas Expressway Pvt. Ltd, Kolkata Approved u/s 10(23G)
Notification No. 301/2003 Dated
21.11.2003 M/s Mapex Infrastructure Pvt Ltd, Kolkata Approved u/s 10(23G)
Notification No. 297/2003 Dated
19.11.2003 LPG Equipment Research Centre (LERC), Banglore Approved u/s 35(1)(ii)
Notification No. 296/2003 Date
19.11.2003 M/s GVK Industries Ltd, Hyderabad Approved u/s 10(23G)
Notification No. 295/2003 Dated
19.11.2003 M/s GVK Jaipur Kishangarh Expressway Pvt Ltd, Jaipur Approved u/s
10(23G)
Notification No. 294/2003 Dated
14.11.2003 M/s Centre for Materials for Electronics Technology, New Delhi
Approved u/s 35(1)(ii)
Notification No. 293/2003 Dated
14.11.2003 M/s Vedanta Cultural Foundation, Mumbai Approved u/s 35(1)(iii)
Notification No. 291/2003 Dated
12.11.2003 M/s K K Birla Academy, New Delhi Approved u/s 35(1)(iii)
Notification No. 290/2003 Dated
11.11.2003 M/s Gujarat Institute of Desert Ecology (GUIDE), Gujarat Approved u/s
35(1)(iii)
Notification No. 289/2003 Dated
11.11.2003 M/s National Institute of Ocean Technology, Chennai Approved u/s
35(1)(iii)
Notification No. 288/2003 Dated
11.11.2003 M/s Medical Research Centre of Bombay Hospital Trust, Mumbai Approved
u/s 35(1)(iii)
Notification No. 287/2003 Dated
11.11.2003 M/s International Board of Yoga, Mumbai Approved u/s 35(1)(iii)
Notification No. 286/2003 Dated
11.11.2003 M/s. the Mother's Service Society, Pondicherry Approved u/s
35(1)(iii)
Notification No. 285/2003 Dated
11.11.2003 M/s Gujarat Institute of Development Research, Ahmedabad Approved u/s
35(1)(iii)
Notification No. 284/2003 Dated
11.11.2003 M/s Vemagiri Power Generation Ltd, Mumbai Approved u/s 10(23G)
Notification No. 282/2003 Dated
11.11.2003 M/s HFCL Infotel Ltd, Chennai Approved u/s 10(23G)
Notification No. 283/2003 Dated
11.11.2003 : In para 3 of the Notification, the name of the enterprise and the
project has been corrected to read as -
"M/s Bengal Peerless Housing
Development Company Ltd., Krishna Building, 224, AJC Bose Road, 2nd Floor,
Calcutta - 700 017 for their project of Development of Anupama Building Complex
Phase II on VIP Road Calcutta".
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CBEC Excise Tariff
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Circular No. 763/79/2003-CX
Dated 21.11.2003 : Having regard to the inclusion of "Dharmada"
collected from the buyers by the assessees in the assessable value or not the
Hon'ble Supreme Court in Civil Appeal No. 7900-7902/95 in the case of CCE,
Allahabad Vs. MIs. Panchmukhi Engg. Works & Ors and the Hon'ble Supreme
Court vide its order dated 28/11/2002 allowed the appeals in favour of Revenue.
The Revenue's stand in the said of case had been that "Dharmada" is
includable in the assessable value. Ministry of Law had also advised that the
division bench decision dated 28.11.2002 of the Hon'ble Supreme Court should be
followed by the Department on this issue. It is therefore clarified that "Dharmada"
collected by the assessee from the buyer is includable in the assessable value
of the goods.
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CBEC Customs Tariff
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Circular No. 99/2003 Dated
27.11.2003 :In view of the legal position of the matter, it has been clarified
that the import of measuring instruments other than standard units of metric
system, is not permitted except under certain conditions specified in Section 23
of Standards of Weights and Measures Act, 1976. So, Field Formations of Customs
have been instructed, to ensure that non-standard units of weight or measure (
including these with dual markings), except those permitted by proviso to
section 23 of the Act ibid, are, on import, either confiscated absolutely or
allowed re-export only.
Circular No. 98/2003 Dated
19.11.2003 : DGFT have confirmed that the objective of DFCEC Scheme for Service
Providers is to permit import of aforesaid goods with a view to increase the
capability of the service providers so as to enable him to render a better and
efficient service. With this in mind import of professional equipments which are
required in the profession of the service providers has been allowed. However,
in so far as capital goods are concerned, its import to service provider has
already been allowed through EPCG route. Therefore, in so far as DFCEC Scheme is
concerned, under the category of professional equipments, import of only those
equipments would be permissible under DFCEC Scheme, which are Professional
Equipments required by the Service Provider for the purpose of rendering service
and earning free foreign exchange. It is reiterated that import of capital goods
which are other than professional equipment or office equipment shall not be
allowed under DFCEC Scheme for Service Providers.
Corrigendum No. DRAWBACK/P.N.
03 /2003 Dated 18.11.2003 : In condition (3) of the Notification the words "capital
goods" have been corrected to read as "professional equipments".
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CBEC Customs Non Tariff
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Notification No. 104/2003-N.T.
Dated 24.11.2003 : The Board (CBEC) has determined the rate of exchange of
conversion of each of the foreign currency specified into Indian currency or
vice versa relating to export goods which has become effective from the 1st
December, 2003.
Notification No. 103/2003-N.T.
Dated 24.11.2003 : The Board (CBEC) has determined the rate of exchange of
conversion of each of the foreign currency specified into Indian currency or
vice versa relating to imported goods which has become effective from the 1st
December, 2003.
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Service Tax
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Notification No. 21/2003 Dated
20.11.2003 : The Central Government has exempted the taxable services specified
in sub section (105) of section 65 of the Finance Act , 1994 provided to any
person in respect of which payment is received in India in convertible foreign
exchange, from the whole of the service tax leviable thereon. Provided that
nothing contained in this notification shall apply when the payment received in
India in convertible foreign exchange for taxable services rendered is
repatriated from, or sent outside, India.
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Department of Economic Affairs
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Notification No. SO1305(E)
Dated 13.11.2003 : The Central Government, after considering the application
made by the Reserve Bank of India has made an Order of Moratorium in respect of
the South Gujarat Local Area Bank Ltd. Navsari, for the period from the close of
business as on 13th November, 2003 upto and inclusive of 12th February, 2004 and
has also stayed the commencement or continuance of all actions and proceedings
against that banking company during the period of moratorium, subject to the
condition that such stay shall not in any manner prejudice the exercise by the
Central Government of its powers under clause (b) of Sub-section (4) of Section
35 of the Banking Regulation Act, 1949 or the exercise by the Reserve Bank of
India of its powers under Section 38 of the Banking Regulation Act, 1949
The Central Government has also
restricted the South Gujarat Local Area Bank Ltd. of doing or performing certain
acts or transactions unless the written permission is obtained in that regard
from Reserve Bank of India.
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RBI
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Notification No. DBOD.No. BL.BC.
46/22.01.001/2003 Dated 18.11.2003 : Reserve Bank of India has been issuing
instructions to commercial banks regarding opening/shifting/closing of
branches/extension counters/offices, etc. from time to time and with a view to
consolidate all the current instructions that are valid as on date, a master
circular has been prepared to enable banks to peruse the required information at
a single source. Foreign banks may be guided by paragraph 18 of the Master
Circular. It has also been clarified that this master circular will supersede
all earlier instructions relating to branch licensing.
Notification No. DBOD. BP.BC.
45/21.04.141/2003-04 Dated 17.11.2003 :Reserve Bank of India has reiterated that
the banks/FIs should appraise credit proposals received from SPVs/ Public Sector
units, Economically Weaker Sections housing and urban infrastructure etc. on
commercial basis with respect to viability and in accordance with the credit
policy laid down by the Board instead of relying solely on the strength of State
Government guarantees. Banks have been advised to check the technical
feasibility of projects to be financed
Notification No. BPD. PCB. Cir
25/16.20.00/2003-04 Dated 17.11.2003 : In order to contain the risks arising out
of non-SLR investment portfolio of urban co-operative banks, a draft of
guidelines has been issued by the Reserve Bank to all urban co-operative banks,
which interalia, cover the following:
i) the need for strengthening
the internal rating systems
ii) fixing of prudential limits
iii) review of the bank's
non-SLR investments by the Board
iv) disclosures in 'Notes on
Accounts' to the balance sheet
Notification No. GSR900(E)
Dated 29.10.2003 : In the Foreign Exchange Management (Export of Goods and
Services) Regulations, 2000 in Regulation 6, the sub-regulation 'D' has been
substituted with the following, namely:
"D Duplicate Declaration
Forms to be retained with Authorised Dealers
On the realisation of the
export proceeds, the duplicate copies of export declaration forms viz. GR, PP
and SOFTEX and Exchange Control copies of the shipping bills together with
related Statutory Declaration Forms shall be retained by the Authorised
Dealers."
Notification No. GSR899(E)
Dated 27.10.2003 : In the Foreign Exchange Management (Transfer or issue of
Security by a Person Resident outside India) Regulations, 2000, in Schedule 5,
paragraph 2, 3 and 5 have been amended by making certain insertions therein.
Press Release No. 2003-2004/666
Dated 25.11.2003 : With the issue of guidelines for non-SLR investments by
banks, the Market Participants has urged that they need time to develop
appropriate procedures and adjust their portfolios to be in full conformity with
the guidelines. It has, therefore, been decided to extend the time for
compliance up to March 31, 2004. Consequently the guidelines will come into
effect from April 1, 2004.
Press Release No. 2003-2004/649
Dated 20.11.2003 : The Reserve Bank of India has appointed a Standing Advisory
Committee on Financial Regulation. the step was taken after taking into
consideration the announcement made in the Mid-Term Review of Monetary and
Credit Policy for 2003-04 where it was indicated that in order to strengthen the
consultative process among banks, market participants and regulators of
financial markets, a Standing Technical Committee on Financial Regulation on
similar lines as the RBI Technical Advisory Committee on Money and Government
Securities Market is being constituted to advise Reserve Bank on a continuing
basis. It was also indicated that the Committee would examine the issues
referred to it and advise Reserve Bank on regulations on an on-going basis
covering banks and non-bank financial institutions and other market
participants, in addition to the existing channels of consultations.
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DGFT
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Notification No. 24(RE
2003)/2002-2007 Dated 25.11.2003 : The Central Government has made the
amendments in the ITC (HS) Classifications of Export and Import Items, 2002-2007
published on 31st March, 2002 as amended from time to time. the amendment has
been made in the entry having Exim Code 27101910 relating to Superior Kerosene
Oil (SKO) for its import.
Also, an Import licensing Note
has been added at the end of Chapter 27 of ITC (HS) Classification of Export and
Import Items 2002- 07 published on 31st March, 2002 as amended from time to
time-
" (2) Import of SKO shall be
allowed through State Trading Enterprises (STEs) i.e. IOC, BPCL, HPCL and IBP
for all purposes with STC being nominated as a State Trading Enterprise (STE)
for supplies to Advance Licence holders. Advance Licence holders shall however,
have the option to import SKO from the above mentioned STEs including STC."
Notification No. 23(RE
2003)/2002-2007 Dated 19.11.2003 : The Central Government has made the following
amendments in the ITC (HS) Classifications of Export and Import Items, 2002-2007
published on 31st March, 2002 as amended from time to time, namely:-
Against item code number 2901
under heading "Organic Chemicals" in Table B of Schedule 2 of ITC (HS) , a
new entry with item description "Anthranilic Acid" and the entries
related to it has been added after 2901 (i ).
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Ministry of Chemicals and
Fertilizers
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Order No. SO1317(E) Dated
17.11.2003 : The National Pharmaceutical Pricing Authority has fixed the prices
related to Vitamin A Acetate (Dry Powder), Vitamin A Acetate (Oily liquid) and
Vitamin A Palmitate (Oily liquid) as the maximum sale price (exclusive of excise
duty and local taxes) at which these bulk drugs shall be sold.
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Department of Consumer Affairs
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Notification No. GSR895(E)
Dated 19.11.2003 : In rule 20 of the Sugar Development Fund Rules, 1983, after
sub-rule(7), the following sub-rule has been inserted, namely:--
"(7A) For the purposes of
reimbursement of expenditure incurred on internal transport and freight charges
on export shipments of sugar, a sugar factory may be allowed to claim, and may
be paid, the following :-
(i) An amount calculated at the
rate of three hundred and fifty rupees per tonne, in respect of the quantity of
sugar exported by it by sea from an Indian Port, on or after the 14th day of
February 2003; and
(ii) Handling and marketing
charges at the rate of five hundred rupees per tonne on the quantity of sugar
exported by it on or after the 3rd day of October, 2003."
Also in Sugar Development Fund
Rules, 1983, in Form VI, in item 8, after sub-item (d), the following sub-item
has been inserted, namely:--
"(e) Whether the export
consignment was transported by sea (Yes/No)."
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Ministry of Labour
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Notification No. GSR889(E)
Dated 13.11.2003 : , The Central Government has made the Scheme called the
Pravasi Bharatiya Bima Yojana, 2003 which shall be effective from the 25th day
of December, 2003. This Scheme shall be applicable to all citizens of India who
will apply for and obtain an emigration clearance as required under the
Emigration Act, 1983
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Ministry of Road, Transport
and Highways
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Notification No. GSR885(E)
Dated 12.11.2003 : The Central Government has issued the the National Highways
Tribunal (Procedure) Rules, 2003 to be effective from the date on which the
National Highways (Land and Traffic) Act, 2002 comes into force.
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Press Information Bureau
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Dated 27.11.2003 : The
President has appointed Shri Biplab Kumar Sharma to be an Additional Judge of
the Gauhati High Court, for a period of two years with effect from the date he
assumes charge of his office.
Dated 27.11.2003 : The
Government has decided that the Return of income in case of all Corporate
Assessees and the assesses falling under section 44 AB of the Income Tax Act,
1961 will be accepted by the respective income tax authorities on December 1,
2003. In States (Delhi, Rajasthan, Madhya Pradesh and Chattisgarh) where
elections are scheduled for December 1, 2003, the returns of income for the
above referred categories will be accepted by the respective income tax
authorities on December 2, 2003. 29th and 30th November, 2003, being Saturday
and Sunday respectively and therefore, closed working days, the date of
acceptance of return of income for the above referred categories has been
extended.
Dated 27.11.2003 : The
Winter Session of Parliament has been scheduled to commence on Tuesday, the 2nd
of December 2003 and subject to exigencies of Government Business, the Session
will conclude on Tuesday, the 23rd of December 2003. The Session will provide 16
sittings spread over a period of 22 days. A total of 54 items - 17 bills pending
in Lok Sabha and Rajya Sabha, 30 New Bills, one financial item and 6 items of
non-legislative Business, have already been finalized for being taken up during
the Winter Session.
Dated 25.11.2003 : As per the
provisions of para 4, 5, 14, 15 and 20 of DPCO, 1995, every
manufacturer/importer of drugs and pharmaceutical products is required to submit
information in the proforma I, II, V and VI provided under the order. In a press
release National Pharmaceutical Pricing Authority (NPPA) has advised the
concerned manufacturers/importers of drugs and pharmaceutical to ensure the
submission of statutory returns to NPPA at the earliest
Dated 20.11.2003 : A 24 Member
Working Group on Food Safety has been constituted by the Ministry of Consumer
Affairs, Food and Public Distribution with Director General of Bureau of Indian
Standards (BIS) as its chairman on the recommendations of the meeting of the
Central Consumers Protection Council (CCPC) held in July, 2003. The Working
Group has to identify various issues relating to the safety and quality of food
products available in the market including imported items and suggest preventive
and remedial measures wherever needed. The Department has also constituted a
Standing Committee for Promotion of Consumer Interests with a view to work out
an effective strategy for promoting interest of the consumer with the
involvement of various stake holders.
Dated 20.11.2003 : The
President has appointed Shri Justice Maddy Narayana Reddy, Additional Judge of
the Andhra Pradesh High Court, to be a Judge of the Andhra Pradesh High Court
with effect from the date he assumes charge of his office.
Dated 19.11.2003 : Responding
to reports appearing in a section of the Press that the Government is planning
to reduce cap on Foreign Institutional Investors (FIIs) and Non-Resident Indians
(NRIs) holdings in private banks, from 49 percent to 26 percent, it has been
clarified that at the current moment no such decision has been taken by the
Government of India in this regard. Neither has any official communication been
issued in the matter.
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Supreme Court |
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An appeal was filed
before the Hon’ble Supreme Court seeking whether Section 138 of the
Negotiable Instruments Act is applicable when cheque is dishonored by
the bank due to stop payment instructions issued by the payer.
Hon’ble Supreme
Court held that a person who issues a cheque could not stop payment by
the bank on the ground that the payment was not due and the amounts
were disputed. He would be covered by Section 138 of the Negotiable
Instruments Act and would be liable to imprisonment and fine. The Apex
Court was of the view that when a cheque is issued it is a sufficient
evidence to prove that there was liability and according to the
presumption under Section 139, this is admission of liability.
The apex court
underlined that the relationship between the drawer and the drawee is
not material when the liability is admitted and it is not necessary
that there should be a mercantile or commercial relationship between
the drawer and the drawee. Hence stopping the payment of a post-dated
cheque, issued to discharge debt or liability, is a criminal offence
under the Negotiable Instruments Act.
An appeal was filed in
the Hon’ble Supreme Court seeking a review of the judgments expressed
by this Hon’ble Court in matters of General Labour Union v. Ahmedabad
Mfg. And Calico Printing Co. Ltd; Vividh Kamgar Sabha v. Kalyani Steels
Ltd.; CIPLA Ltd. v. Maharashtra General Kamgar Union wherein it was
held that the employer-employee relation should be established first
under the Industrial Disputes Act, only then, the question of unfair
labour practices could be considered under the Maharashtra Recognition
of Trade Unions and Prevention of Unfair Labour Practices Act.
It was contended by
the trade unions that they could avail of the remedies either under the
Maharashtra Act or the Industrial Disputes Act and the machinery under
both the legislations were coextensive. Therefore, the issue about
employment of contract labour could be raised under either of the laws.
But the management argued that the basic question as to the relation
between the employer and the employee was not within the purview of the
Maharashtra Act.
The Apex Court while
dismissing the appeal held that an industrial dispute has to be raised
before the Tribunal under the Industrial Disputes Act to have the issue
relating to actual nature of employment sort out. The court also
rejected the trade unions’ request to overrule three of its earlier
judgments holding against them in the matter of contract labour. The
earlier judgments of the Supreme Court have asserted this principle and
the present judgment reaffirmed it. - Appeal Dismissed.
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