Tag Archives: money

Benami Transactions Informants Reward Scheme, 2018 issued: Govt.

With the objective of obtaining people’s participation in the Income Tax Department’s efforts to unearth black money and to reduce tax evasion, a new reward scheme titled “Benami Transactions Informants Reward Scheme, 2018”, has been issued by the Income Tax … Continue reading

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Fugitive Economic Offenders Ordinance, 2018 promulgated: Govt.

Fugitive Economic Offenders Ordinance, 2018 has come into force as the President of India has given his assent to the Government’s decision to promulgate the said Ordinance. Fugitive Economic Offenders Ordinance, 2018 (“the Ordinance”) lays down the measures to empower … Continue reading

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Limitation Act not applicable to Insolvency Code: NCLAT

The National Company Law Appellate Tribunal recently ruled that the Limitation Act, 1963 is not applicable to the Insolvency & Bankruptcy Code, 2016 (“I&B Code”) as the latter is not a code for recovery of money claim, rather it relates … Continue reading

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English Court’s interlocutory order maintainable: SC

The Supreme Court of India recently ruled that the execution of an order of an English Court related to a dismissal of challenge to its jurisdiction is ‘maintainable’ in Indian courts. Dismissing a number of arguments from the appellant, the … Continue reading

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High denomination currency notes, existing exemptions extended: Govt.

While cancelling the legal tender character of the existing series of high denomination bank notes of Rs.500 and Rs.1,000 denominations w.e.f. the expiry of the 8th November, 2016, exemptions were allowed for certain transactions for the first 72 hours with … Continue reading

Posted in Administrative Law, Banking Law, Company Law, Consumer Law, Contract Law, Criminal Law, General Law, Income Tax Law, International Law, Notifications/Publications/Circulars | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

High denomination currency notes withdrawn: Govt.

With a view to curbing financing of terrorism through the proceeds of Fake Indian Currency Notes (FICN) and use of such funds for subversive activities such as espionage, smuggling of arms, drugs and other contrabands into India, and for eliminating … Continue reading

Posted in Administrative Law, Banking Law, Company Law, Consumer Law, General Law, Income Tax Law, International Law, Notifications/Publications/Circulars, Trade Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment