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Court rejects Reebok’s former MD and COO’s anticipatory bail applications;
SEBI announces new Consent norms and much more.
NGO moves apex court against curtailed RTI access, high fee
NGO Common Cause has moved the Supreme Court, seeking the quashing of the rules framed by the Allahabad High Court restricting access to information under the Right to Information Act and tagging a high fee for obtaining it.
Black money cases: Income Tax department forms lawyer teams for prosecution
The Income Tax department has initiated a special country-wide exercise to engage a battery of lawyers for fighting black money cases and filing prosecution in a host of other tax evasion cases. The department, on directions of the Central Board of Direct Taxes (CBDT), has issued fresh guidelines for hiring counsels for presenting revenue cases at the High Courts, lower courts and other judicial forums.
Rajya Sabha MP Shanta Ram Naik replaces Abhishek Manu Singhvi as Chairman of standing committee on law and justice
Shanta Ram Naik, Rajya Sabha MP has been appointed as the new chairman of the politically-important standing committee on law and justice.
Govt to challenge CIC order on PJ Thomas’ empanelment
The government has decided to approach the Delhi High Court seeking relief from the Central Information Commission’s directives for disclosing records related to empanelment of former Central Vigilance Commissioner PJ Thomas for appointment at the Centre.
Court rejects Reebok’s duo bail plea; Rohit Kochhar represents Adidas
A Gurgaon court on Saturday dismissed the anticipatory bail applications of Subhinder Singh Prem, the former managing director, and Vishnu Bhagat, chief operating operator of the India arm of Reebok. Both have been accused of fudging company accounts, operating secret warehouses causing a loss to the tune of over Rs. 870 crore to the global sports goods firm. Adidas’s lawyer Rohit Kochhar argued that the nature, magnitude and the extent of fraud did not make this a fit case for granting anticipatory bail to the accused.
SEBI announces new Consent norms; Reliance approaches Bombay HC on the new Consent norms
The SEBI circular prohibits use of monetary settlement for dealing with a list of serious offences, including various fraudulent trade practices, as also insider trading and front running, other serious offences which cause substantial losses to investors or affect their rights, failing to make an open offer and manipulation of net asset values of mutual funds.
Reliance Industries has approached the Bombay High Court, urging that it be allowed to settle insider trading allegations under a set of regulations that were recently discarded by market regulator SEBI.