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HC Seeks opinion from Attorney General over Sovereign
Immunity
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THE
DELHI High Court on the plea of sovereign immunity raised by the state
has asked for the opinion of the Attorney General as to in how many
cases, the state has taken or raised the plea of 'sovereign immunity',
in which state claims immunity for its tortious acts and denies
compensation to the aggrieved party.
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Reliance says it Hasn't violated Insider Trading Rules
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India's
Reliance Industries Ltd. Monday said it has not violated insider
trading provisions set by the nation's capital markets regulator, the
Securities and Exchange Board of India.
"Reliance Industries Ltd. has always abided by all rules and
regulations of SEBI and hence, has neither violated any provisions of
insider trading... ," the company said in an emailed statement to Dow
Jones Newswires.
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Indian Police in search for the Perfect Beggar
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More
than two months after Delhi authorities launched mobile courts to
convict and remove beggars from the capital's streets, the
controversial initiative has made a faltering start.
On a recent trip with police officers through the chaotic streets of
Old Delhi, the difficulties for the anti-begging teams trying to get
Delhi ready for the Commonwealth Games next year were plain to see..
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Amend Law on appointing NHRC Chief, Court tells
Government
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he
Delhi High Court Wednesday asked the government to amend the law in
order to appoint a chairman of the National Human Rights Commission
(NHRC) - a post that has been lying vacant since May 31 this year.
According
to rules, the NHRC is to be headed by a retired chief justice of India.
But the court wants the law to be amended so that even retired judges
of the apex court can be appointed to the post.
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SEBI plans fresh round of Mutual Fund Reforms
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The
next
set
of reforms in the mutual funds industry is round the corner
with the Securities and Exchange Board of India (Sebi) likely to lower
the fund management charges and introduce stricter compliance standards.
The mutual funds advisory committee, which met on Friday, has
recommended that asset management companies lower the fund management
fee from the present level. Fund houses currently charge 1.25 per cent
as asset management charges for the first Rs 100 crore garnered by a
scheme, and 1 per cent thereafter. The advisory committee, comprising
industry representatives and investor bodies, has suggested that the
fee should be lowered as the assets under management increase.
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Mirror unto Ourselves
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Pratap
BHanu
Mehta's editorial on the Liberhan Commission report in the Indian
Express.
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History of the Keshavanada Bharti Review
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This
is the 300th post of this blog and we have come a long way from scratch
to be where we are today. The credit to this goes to support received
by our readers, classmates and friends in the legal community and each
of us authors as such.
I couldn�t think of a more fitting post that to tell the readers of Mr.
Andhyarujina�s recent article on the Keshavananda Bharti Review.
Printed in the latest SCC [(2009) 9 SCC (J) 33], many may not even be
able to read this article. I had the good fortune though to get an
account of this incident from Mr. Andhyarujina himself while I was
interning with him in December 2007. This was perhaps one of my best
internship experiences and influenced me to pursue a career in
litigation. He also gave me copies of the review transcript as
appearing in Mr. Prashant Bhushan�s book.....
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| Featured
Articles
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| CJI KG Balakrishnan |
| Address to the Nation |
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The following is the full
text of the Address by the Chief Justice of
India, K.G. Balakrishnan on the eve of the National Law Day. November
26 is celebrated as National Law Day because it was on this day in 1949
that the Constituent Assembly of India adopted the Constitution, which
then came into effect on January 26, 1950.
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| Mukul Sharma |
| Working a Shareholder Democracy |
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Corporate
governance
� the need for widening the scope of shareholder democracy
and rights, investor protection and information disclosure � has been
rightly emphasised in the context of the proposed new Companies Bill
(The Hindu, November 8, 2009). However, the actual role of shareholders
needs to be expanded. Shareholder democracy must include the working
and responsibilities of investment companies, including banks, mutual
fund companies, brokerages and insurance/annuity companies....
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| The FIRM |
| Tax Treaty Re-negotiation ? |
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This
tax treaty controversy is snowballing. First it was just the India
Mauritius Double Tax Avoidance Treaty that was under a shadow and has
been that way for a couple of years then the proposed Direct Tax Code
released in August this year proposed a Treaty of Override Clause. Tax
experts and India Inc are up in arms because if the code becomes the
law, that law would override any existing treaty and its provisions,
creating confusion and uncertainty for tax payers. And, then last week
came the bombshell.
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