• NATIONAL NEWS

Delhi HC grants bail to Rajya Sabha MP Amar Singh in cash-for-votes scam

Delhi High Court has granted bail to Rajya Sabha MP Amar Singh for his alleged involvement in bribing of MPs ahead of trust vote in the Lok Sabha in 2008. However, he has been restrained from leaving the country without permission

Rajasthan High Court frames new rules for Arya Samaj weddings

Rajasthan HC has ruled that Arya Samaj marriages will be solemnized only after it is approved and recommended by the distinguished parties each from both the partner's families. Also, made it mandatory to present three prominent persons from both the sides as witness in case parents objects.

2G scam: Charges framed against 14 accused individuals

CBI special court has fixed 11th November, 2011 as the date for formal commencement of trial after having framed the charges against the accused individuals including criminal breach of trusts, forgery, bribery and falsification of evidences.

SC directs F1 organisers to deposit 25% of the ticket sales in a special bank account

The Apex court has directed F1 organisers, Jaypee Sports International Ltd to keep 25% of the revenue collected from tickets sales in special accounts till the legality of the UP government's decision to grant entertainment tax exemption to the event is decided.

Bom HC directs Red Chillies Entertainment to deposit Rs. One Cr in copyright dispute involving RA.One

Division Bench of the Bombay High Court has directed the Shah Rukh Khan's company, Red Chillies Entertainment to deposit Rs. One crore in the registry, failing which it would stay the release of its latest film venture RA.One for a potential intellectual property rights violation. 

Allahabad HC sets aside acquisitions of land in three UP villages

Allahabad HC has cancelled the land acquisition in three villages of greater noida, namely, Deola, Shahberi and Asadallapur. The court has directed govt to return the land to farmers of these villages holding that the govt has misused its powers.

Third-party security not required for obtaining educational loans: Madras HC

Madurai bench of the Madras HC has held that third-party security not required for obtaining educational loans above Rs 7.5 lakh while hearing a petition filed against a bank who has denied loan on the grounds of failure to provide third-party security, though a collateral security was given.

Mere suspicion upon the correctness of the invoice not sufficient for invoice rejection: SC

SC has ruled that mere suspicion upon the correctness of invoice produced by an importer isn't sufficient to reject it as evidence of value of imported goods. The doubt held by officer concerned has to be based on some material evidence and is not to be formed on a mere suspicion.

Housing Finance Companies barred from charging pre-payment fees

National housing bank has directed the housing finance companies to not levy pre-payment penalty on pre- closure of housing loan under the conditions specified therein.

Ashok Chawala took charge as CCI Chairman on 20.10.2011

Former finance secretary Ashok Chawala has took over as the chairman of the competition commission of India from today, after a vacancy of over four months.

Discussion paper on Tax Accounting Standards released by CBDT

CBDT has released a discussion paper pertaining to Tax Accounting Standards on Construction Contracts and Government Grants for inviting comments/suggestions from all the stake holders. 

SC directs Tamil Nadu CM, Jayalalithaa to attend hearing before court in Bangalore

Supreme Court has directed the Chief Minister of Tamil Nadu to attend a hearing at special court inside the Central Prison, Bangalore in connection with a case which accuses her of corruption.

SAT upheld the regulatory order directing Sahara group to refund investors subscribed to its OFCDs

SAT has upheld the order directing Sahara group to refund investors subscribed to its OFCDs holding that issue of OFCDs was a public issue requiring mandatory listing & Sebi has jurisdiction under Sebi Act to deal with all kinds of securities & companies, whether listed or not.

TDS on deposits in banks in the name of Registrar/ Prothonotary attached to courts: CBDT

CBDT has decided that bank shall in accordance with the provisions of Act, deduct TDS on the interest accruing on the deposits kept in the bank in the names of Registrar/ Prothonotary or any other name as per the order of court as per existing procedure and at the rates in force.

SC Notice to UP govt for waiving entertainment and luxury tax for Formula One international event

The Apex Court has issued a notice to the Uttar Pradesh government for waiving entertainment and luxury tax for the Formula One international event, to be held in Greater Noida, on a public interest litigation.

Revised National Sports Development Bill, 2011 Retains Age Bar

Draft of the proposed national sports legislation has been unveiled by Sports minister, dropping a number of contentious clauses, but still retaining several provisions like a cap on age and tenure of office bearers, which are likely to raise hackles among sports administrators.

Fiscal health not right to push for interlinking of rivers: SC

The apex court has expressed its concern over financial liability of the project proposing linkages between major rivers by the year 2016 saying that fiscal health is not right for river linking and we will not force any additional financial burden on the governments.

Public sector undertakings cannot hike rents unreasonably: SC

SC has empowered tenants of PSUs in Maharashtra to contest unreasonable hike by taking landlord to small-causes court holding that they can invoke the provisions of Maharashtra Rent Control Act to seek a standard rent; earlier, they were governed under the restrictive Public Premises Act of 1971

Serious Fraud Investigation Office likely to get powers to Prosecute Corporates

Companies Bill, 2011 striving to ensure transparency and accountability of corporates has sought to provide more powers to Serious Fraud Investigation Office to prosecute corporates. The draft bill is likely to be approved by the cabinet by the end of the month.

Candidate facing criminal cases cannot be considered suitable for govt service unless acquitted: SC

SC has quashed the appointment of a constable involved in a criminal case saying that so long as the candidate has not been acquitted in the criminal case of the charges under IPC, he cannot possibly be held to be suitable for appointment in government service.

Ahmedabad court grants bail to Sanjiv Bhatt

Sanjiv Bhatt has been granted bail by a court in Gujarat. He was arrested on September 30 after a police constable KD Pant alleged that he had been forced by Sanjiv Bhatt to file an affidavit backing complaints against Chief Minister Modi.

Employee provident fund accounts likely to get 9% interest for year 2011-12

Employee provident fund organization is considering announcing higher than normal rates of return for the year 2011-12 as a combination of lower than expected outflow from the inoperative accounts and high interest regime is promoting the organization.

Delhi High Court gets one more Judge

The President has appointed Shri Justice Rajiv Shakdher, Additional Judge of the Delhi High Court, to be a Judge of the Delhi High Court with effect from the date he assumes charge of his office.

Immovable property can be legally transferred/conveyed only by a registered deed of conveyance: SC

SC has held that the transactions of the nature of 'GPA sales' or 'SA/GPA/WILL transfers' do not convey title and do not amount to transfer, nor can they be recognized or valid mode of transfer of immoveable property.

Bills Proposing to Ease Procedure for Banks to Recover Loans from Errant Borrowers gets Cabinet Nod

Union cabinet has approved two bills proposing amendment to SARFAESI and Debt Recovery Act to enable banks to recover loans from errant borrowers and reduce their non- performing assets.

Announcements on FTP: New scheme to provide special assistance to specified sectors

Govt has introduced a new scheme to provide special assistance to specified sectors for 6 months as special assistance. The support is given to Engineering, Pharmaceutical and Chemical sectors. Highlights of the Policy as announced on 13.10.2011 is attached herewith.

SC reduces punitive damages imposed by Delhi HC on Ansals: Uphaar cinema tragedy

The apex court has reduced the compensation awarded by the Delhi HC for victims in the 1997 Uphaar cinema tragedy. The Ansal brothers, who own ATCL had challenged the High Court order in the SC in 2004, following which SC issued interim orders for payment of 50 per cent of compensation.

Preliminary decree can be altered or amended before the final decree is passed: SC

SC has held that though final decree is required to be in conformity with preliminary decree but that does not mean that a preliminary decree, before final decree is passed, cannot be modified by trial court in the event of changed circumstances even if no appeal has been preferred.

Delhi HC acquits former senior IPS officer Ravi Kant Sharma in the Shivani Bhatnagar murder case

Delhi High Court has acquitted former senior police officer Ravi Kant Sharma and two others in the 1999 murder of journalist Shivani Bhatnagar saying that the evidence was inconclusive and that the "benefit of doubt" in the case should go to them.

SC grants bail to Satyam accounting fraud accused

The apex court has granted bail to four former employees of IT major Satyam Computers Services Ltd and a former auditor of PriceWaterhouseCoopers (PWC), arrested for their alleged roles in multi-crore accounting fraud involving the software firm.

SC to Continue Monitoring Post-Godhra Cases

SC has declined to accept state government plea to stop monitoring the trial in nine post-godhra communal riots cases saying that there is no change in the circumstances and it would make any difference if monitoring of the cases goes on for few more months.

Gujarat High Court gives split verdict on Lokayukta

Division bench of the Gujarat HC was divided on the appointment of state's Lokayukta by the governor with Justice Akil Qureshi upholding the appointment and Justice Sonia Gokani dissenting to it. The chief justice will now refer the case to a single judge bench.

Two more judges sworn in, Supreme Court strength goes up to 28

Justices Dipak Misra and Jasti Chelameswar were on Monday sworn in as SC judges, raising the strength of the apex court to 28.Chief Justice of India administered the oath of office to Justices Dipak Misra and Jasti Chelameswar, former chief justices of Delhi and Kerala high courts respectively.

Competition Appellate tribunal admits DLF appeal against the penalty imposed by CCI

Competition Appellate tribunal has admitted an appeal filed by DLF against the CCI's order imposing Rs. 630 crore penalty for abuse of dominant market position. Tribunal is likely to hear appeal in November.

• INTERNATIONAL NEWS

UK mulls 'pay bond, bring spouse' policy

Labour has outlined plans in 2007 for UK families sponsoring relatives visiting from outside EU to pay a £1,000 bond to ensure they returned home and did not work illegally. The government also intends to look at new measures to crack down on forced marriages making it a specific offence to force someone to marry. A consultation on family visas ended last week and ministers are hoping to introduce tougher conditions in April.

Investment treaty pact "soon": Hillary

United States will soon resume technical level discussions on a new Bilateral Investment Treaty (BIT) with India, according to Secretary of State Hillary Clinton, who made the announcement during a speech that linked U.S. foreign policy and economic opportunities for domestic job creation. Describing India as an "Asian tiger", the Secretary suggested to the Economic Club of New York on Saturday that the U.S. could learn from emerging powers such as India and Brazil, which "put economics at the centre of their foreign policies".

Obama to press for putting an end to blocking jobs bill

US President will this week push hold-out senators to stop blocking jobs bill. Senior White House officials have said they would work with Democrats in Congress to schedule the votes on parts of the bill, including an extension of payroll tax cuts and financing to keep public employees like teachers in work. They hope to force Republicans into tough votes that will see the party's lawmakers facing the prospect of voting against extending payroll taxes, tax hikes for the rich and money to help war veterans find work.