This document is the contents page and introduction for a book on Competition Law in India published by Taxmann Publications Pvt. Ltd. It provides an overview of the book's organization, outlines the various divisions covering the Competition Act of 2002 and associated rules and regulations, and includes standard copyright and disclaimer information for publications.
This document provides details about a project report on retirement benefits and settlement procedures at Tata Motors Ltd. It includes sections on the automobile industry and Tata Motors company profiles, objectives of the study, retirement benefits like gratuity and leave encashment, HR policies, survey methodology used, findings from a survey of employees, and screenshots of the settlement process in the HR system. The key information presented is about retirement benefits and procedures at Tata Motors Ltd. based on research and employee feedback.
Chandigarh_Judicial_Academy_ 16th May 2015 FinalSUKESH MISHRA
This document provides an overview of competition law in India. It discusses the historical background of Indian competition law from the Monopolies and Restrictive Trade Practices Act of 1969 to the current Competition Act of 2002. It describes key aspects of the Competition Act such as its objectives, coverage, definitions of agreements and enterprises, and prohibitions on anti-competitive agreements and abuse of dominant position. It also summarizes some important cases that the Competition Commission of India has dealt with related to horizontal agreements, vertical restraints, and abuse of dominance.
1 WRITTEN LABOUR ASSIGNMENT S NAIR BENEFITSSarvesh Nair
This document provides a critical discussion of unfair labour practices concerning benefits with reference to recent case law. It begins by defining unfair labour practices and outlining the scope of protection under section 186(2) of the Labour Relations Act. It then discusses how the term "benefit" is not clearly defined in law and has been subject to several court decisions attempting to define it. The document concludes by analyzing the judgment in the recent 2013 Apollo Tyres case from the Labour Appeal Court to further develop the definition of a benefit.
The document discusses unfair labour practices by employers under Alberta labour law. It defines unfair practices as those that undermine employees' rights to freely choose a bargaining agent and engage in collective bargaining. It outlines prohibited practices towards bargaining agents, such as interfering in their formation, administration or representation of employees. It also describes prohibited practices against employees, like discriminating against union members, penalizing participation in lawful strikes, and undermining the administration of the labour code. The document provides detailed explanations of prohibited conduct and exceptions under relevant sections of Alberta's Labour Relations Code.
The document discusses the definition of a "contract of service" and "employee" under Malaysian employment law. It provides an overview of factors that determine an employment relationship such as control tests, implied terms of a contract of employment, relevant legislation, and important court cases that have helped define these concepts. The control test, organization test, and implied duty of mutual trust and confidence are some key considerations examined in determining whether a worker is an employee under a contract of service.
This document provides an overview of essential labour legislation in India. It discusses the historical context and principles behind labour laws, including protection, social justice, regulation, and welfare. The document then classifies different types of labour legislation and provides examples. It also discusses key concepts like principal employers, contractors, and contract labour. The document outlines regulations around registration, licensing, and responsibilities. It discusses protective labour laws and managing industrial relations. Overall, the document provides a comprehensive introduction to India's essential labour laws and regulations.
Amendments to the LRA and the BCEA: Werksmans Labour & EmploymentWerksmans Attorneys
The draft Labour Relations Amendment Bill aims to protect vulnerable employees, regulate subcontracting and outsourcing, and extend the jurisdiction of the Labour Court. It proposes changes to organizational rights, the right to strike, lockouts, picketing rules, essential services, dispute resolution processes, and the review of arbitration awards. It also introduces regulations for temporary employment services and high-income dismissals.
This document provides details about a project report on retirement benefits and settlement procedures at Tata Motors Ltd. It includes sections on the automobile industry and Tata Motors company profiles, objectives of the study, retirement benefits like gratuity and leave encashment, HR policies, survey methodology used, findings from a survey of employees, and screenshots of the settlement process in the HR system. The key information presented is about retirement benefits and procedures at Tata Motors Ltd. based on research and employee feedback.
Chandigarh_Judicial_Academy_ 16th May 2015 FinalSUKESH MISHRA
This document provides an overview of competition law in India. It discusses the historical background of Indian competition law from the Monopolies and Restrictive Trade Practices Act of 1969 to the current Competition Act of 2002. It describes key aspects of the Competition Act such as its objectives, coverage, definitions of agreements and enterprises, and prohibitions on anti-competitive agreements and abuse of dominant position. It also summarizes some important cases that the Competition Commission of India has dealt with related to horizontal agreements, vertical restraints, and abuse of dominance.
1 WRITTEN LABOUR ASSIGNMENT S NAIR BENEFITSSarvesh Nair
This document provides a critical discussion of unfair labour practices concerning benefits with reference to recent case law. It begins by defining unfair labour practices and outlining the scope of protection under section 186(2) of the Labour Relations Act. It then discusses how the term "benefit" is not clearly defined in law and has been subject to several court decisions attempting to define it. The document concludes by analyzing the judgment in the recent 2013 Apollo Tyres case from the Labour Appeal Court to further develop the definition of a benefit.
The document discusses unfair labour practices by employers under Alberta labour law. It defines unfair practices as those that undermine employees' rights to freely choose a bargaining agent and engage in collective bargaining. It outlines prohibited practices towards bargaining agents, such as interfering in their formation, administration or representation of employees. It also describes prohibited practices against employees, like discriminating against union members, penalizing participation in lawful strikes, and undermining the administration of the labour code. The document provides detailed explanations of prohibited conduct and exceptions under relevant sections of Alberta's Labour Relations Code.
The document discusses the definition of a "contract of service" and "employee" under Malaysian employment law. It provides an overview of factors that determine an employment relationship such as control tests, implied terms of a contract of employment, relevant legislation, and important court cases that have helped define these concepts. The control test, organization test, and implied duty of mutual trust and confidence are some key considerations examined in determining whether a worker is an employee under a contract of service.
This document provides an overview of essential labour legislation in India. It discusses the historical context and principles behind labour laws, including protection, social justice, regulation, and welfare. The document then classifies different types of labour legislation and provides examples. It also discusses key concepts like principal employers, contractors, and contract labour. The document outlines regulations around registration, licensing, and responsibilities. It discusses protective labour laws and managing industrial relations. Overall, the document provides a comprehensive introduction to India's essential labour laws and regulations.
Amendments to the LRA and the BCEA: Werksmans Labour & EmploymentWerksmans Attorneys
The draft Labour Relations Amendment Bill aims to protect vulnerable employees, regulate subcontracting and outsourcing, and extend the jurisdiction of the Labour Court. It proposes changes to organizational rights, the right to strike, lockouts, picketing rules, essential services, dispute resolution processes, and the review of arbitration awards. It also introduces regulations for temporary employment services and high-income dismissals.
The Industrial Relations Act of 1967 provides the legal framework for regulating relations between employers and employees/trade unions in Malaysia. The Act aims to prevent and resolve disputes arising from their relationships, promote democratic self-governance in industry, and ensure the speedy resolution of trade disputes. It covers important areas like rights of workers and unions, recognition of unions, collective bargaining, dispute resolution, and restrictions on strikes and lockouts. The Act works together with the Employment Act of 1955 and Trade Unions Act of 1959 to form the basis of Malaysia's industrial relations system.
Managing Dismissal Cases to Avoid RepercussionslegalPadmin
Speech by Dato' Jalaldin b Hussain (Chairman Industrial Court, Malaysia (Rtd)) & Tuan Mohd Khalid Atan (President, MTUC), given in Labour Law Seminar held by Legal Plus Sdn. Bhd (www.legalplus.com.my) on Apr 10, 2015
Recently Hon’ble Rajasthan Authority of Advance Ruling (AAR) has given a ruling in the matter of “Clay Craft India Private Limited” holding that the remuneration paid to Director whether whole time or not will attract GST under Reverse Charge Mechanism (RCM). In this update, we have analysed the captioned AAR ruling along with capturing the current legal position on the matter. #taxlaws #gst #gstupdate #krestonsnr #snr
This document discusses the laws around retrenchment in Malaysia and its implications for human resource management practices. It defines retrenchment as the termination of employment contracts for employees deemed surplus due to factors like restructuring or economic downturn. The document outlines relevant statutes governing retrenchment in Malaysia and findings from court cases that revealed many retrenchments were ruled against employers for poor workforce selection processes or mishandling of retrenchment. It recommends viewing retrenchment as a proactive rather than reactive process involving effective planning and exploring alternatives before use as a last resort.
Managing Dismissal to Avoid RepercussionlegalPadmin
Speech by K.Somasundram, Assistant Secretary from MTUC, given in Labour Law Seminar held by Legal Plus Sdn. Bhd (www.legalplus.com.my) on Apr 10, 2015.
The document discusses whether remuneration paid to directors by a company is subject to GST under the reverse charge mechanism. It notes that while some advance rulings have found remuneration to be taxable under reverse charge, these rulings did not consider whether directors are employees of the company. The document argues that remuneration paid to directors would not be subject to reverse charge GST since it arises from an employer-employee relationship as defined in Schedule III of the GST Act and was not taxed under similar provisions in the previous service tax regime.
Mining Customer’s Data for Vehicle Insurance Prediction System using Decision...idescitation
A classification technique (or classifier) is a
systematic approach used in building classification models
from an input data set. The model generated by the learning
algorithm should fit both the input data well and correctly
predict the class labels of records it has never seen before.
Therefore, a key objective of the learning algorithm is to
build models with good generalization capability i.e. models
that accurately predict the class labels of previously unknown
records. The accuracy or error rate computed from the test set
can also be used to compare the relative performance of
different classifiers on the same domain. However, the results
obtained for accuracy is good and average error rate obtained
is equally acceptable for the test records in which, the class
labels of the test records was known to us, using decision tree
classifier.
Stefanie entered into a 5-year contract with Madam Dora to receive dance training. However, Stefanie was a minor at the time. Generally, contracts entered into by minors are void due to lack of capacity. There are exceptions for necessaries, beneficial contracts, and scholarships. While dance training could potentially fall under a beneficial contract exception, the contract imposed unreasonable restrictions on Stefanie like not allowing other engagements or marriage without consent. Based on past cases, such unreasonable provisions in a contract with a minor are not enforceable. Therefore, the contract between Stefanie and Madam Dora was void, and Stefanie would not be liable for its breach.
Presentation on Employment Law in Malaysia - for Masters class @ UniRazakKevin Koo
This document provides an outline and summary of a presentation on employment laws in Malaysia given by two students, Adnan Seman and Kevin Koo Seng Kiat, at Universiti Tun Abdul Razak. The presentation covers several key topics related to employment laws in Malaysia, including hiring processes and requirements, classifications of workers, rights and responsibilities of employees, minimum standards for wages and benefits, and regulations regarding termination of employment.
The document discusses unfair labor practices under Philippine law. It defines unfair labor practices as violations of workers' rights to organize and collectively bargain that disrupt labor relations. The document outlines unfair labor practices by employers, such as interfering with union activities, discrimination based on union membership, and violating collective bargaining agreements. It also discusses unfair labor practices by unions, remedies and enforcement procedures under the labor code. Finally, it examines various types of union security clauses used in collective bargaining agreements to strengthen unions.
The document discusses various key aspects of Indian employment and labour laws, including the Industrial Employment (Standing Orders) Act 1946. It explains provisions around standing orders, retrenchment notice periods, layoff compensation, prohibition of illegal strikes/lockouts, unfair labour practices, and definitions of terms like "worker", "industry", "industrial dispute", and "wages" under the Industrial Disputes Act. It also outlines the roles of various authorities established under the Act.
1. The document provides information about claims procedures for a private car insurance policy with Bajaj Allianz General Insurance.
2. It advises policyholders to contact the 24-hour call center directly in the event of a claim instead of going through an agent to ensure proper claims registration and assistance.
3. Additional details on claims processes, requirements, and approved repair shops can be found in the claims guide or by contacting the insurance office or agent. Using an unauthorized repair shop may affect cashless repairs or billing.
The document provides an overview of termination of employees laws and challenges in Malaysia presented by Miss Loh Sub Mui. It discusses:
- The rights of employers and employees. Employers have the right to promote, transfer, and determine workforce size while employees have rights to security, safe working conditions, and union participation.
- Key statutory provisions around termination from the Employment Act 1955 including requiring notice periods of 4-8 weeks depending on length of service and allowing termination without notice by paying indemnity.
- Challenges around proving just cause for termination such as misconduct, negligence, poor performance, and managing probationary periods. Proper documentation of warnings and opportunities for improvement is important.
This document provides a summary of recent legal landmarks in India. It lists 6 legal cases covering various topics - taxation of fees for technical services, disallowance of expenses, eligibility for tax deductions, transfer pricing adjustments, fringe benefits tax, and validity of assessments on deceased persons. For each case, it provides the authority, relevant section/rule, ratio or key consideration from the case, and case name or party details. The document was sent by Anand Mehta & Co. consultants to update a client on recent legal precedents.
This document provides guidelines for implementing a managed service provider (MSP) solution for contingent workforce programs in India. It covers key considerations for taxes, labor laws, tenure length, treasury functions, data privacy, time sheets, data migration, and best practices for implementation in India. Taxes include goods and services tax (GST) and tax deducted at source (TDS). Labor laws that apply include those governing contract labor, shops and establishments, minimum wages, bonuses, gratuity, maternity benefits, provident funds, industrial disputes, and employee state insurance. Tenure length is generally limited to 240 days but does not guarantee regularization. Treasury functions require careful handling of invoicing, discounts, and pay when paid
LABOUR LAW AND HUMAN RESOURCES...Unfair labour practices and fundamental righ...cloudious nyikadzino
This document outlines the fundamental rights of employees and unfair labour practices by employers. It discusses employees' rights to join trade unions, protection against discrimination and forced labour, fair labour standards, and democracy in the workplace. The document also covers employers' obligations regarding wages, working hours, and prohibitions against obstructing employees' rights or discriminating based on attributes like gender, disability status, and pregnancy. Overall, the key rights established are freedom of association through trade unions and workers committees as well as protections against exploitation.
This document discusses reverse charge mechanism in India. It provides an overview of the history of reverse charge introduction in 1997 and its subsequent amendments. It outlines services where liability to pay service tax lies with the service recipient under reverse charge as of July 2012, including insurance, sponsorship, rent-a-cab, manpower supply, and services by non-residents. Key points around invoice, CENVAT credit, registration and compliance requirements for recipients are summarized. Specific provisions for reverse charge on GTA, rent-a-cab and works contract services are also highlighted.
1. This document is a certificate and policy schedule for a package policy for a private vehicle.
2. It provides details of the insured (Mr. Naveen Rohira), insured vehicle (a 2014 Maruti WagonR LXi CNG), and insured declared value (Rs. 261,040).
3. It outlines the premium amounts for own damage coverage (Rs. 6,175) and liability coverage (Rs. 2,265), totaling Rs. 9,706 in gross premium paid.
D -pdffiles-3112-policy schedule-201311010046088-policyschedule_3Abhishek Gera
This document provides a certificate of insurance and policy schedule for a motorcycle insurance policy issued by United India Insurance Company Limited to Mr. Amit Kumar. The key details include:
- The policy number and period of insurance from November 1, 2013 to October 31, 2014.
- The vehicle is a 2013 TVS Sport ES motorcycle with an insured declared value of Rs. 42,000.
- Coverage is provided for India. The policy is subject to terms and conditions of the Indian Motor Tariff.
- The total premium due is Rs. 1,284 including taxes.
The document provides information on how the Competition Act of 2002 impacts trade associations in India. It discusses how trade associations can violate the act through anticompetitive agreements or facilitating prohibited information exchanges between competitors. The Competition Commission of India has found some trade associations guilty of cartel-like behavior in the past, such as the film producers association engaging in boycotts and price fixing. Trade associations need to avoid facilitating discussions around prices, markets, bids, and exchanges of sensitive competitive information to stay compliant with the act.
The document summarizes key aspects of India's competition law framework. It outlines that competition law in India was triggered by the constitution and the first law was the Monopolies and Restrictive Trade Practices Act of 1969. This was replaced by the Competition Act of 2002 to promote competition and private enterprise.
The Competition Act established the Competition Commission of India and has four main parts - regulating anti-competitive agreements, abuse of dominance, combination regulation, and competition advocacy. It aims to facilitate competition, establish the CCI to prevent anti-competitive practices, promote market competition, protect consumer interests, and ensure trade freedom. The CCI has powers like imposing penalties, modifying or blocking combinations, and separating dominant enterprises.
Taxmann's Insolvency and Bankruptcy Code 2016Taxmann
This book incorporates the Insolvency & Bankruptcy Code, 2016, and Regulations issued thereunder. Along with the above, the readers also get a specially curated Guide to Insolvency & Bankruptcy Code (Second Amendment) Act 2020 along-with Comprehensive Guide to Insolvency & Bankruptcy Code 2016.
The Present Publication is the 13th Edition, incorporating all the amendments made up to the Insolvency and Bankruptcy Code (Second Amendment) Act, 2020, and is updated till 24th September 2020.
· The book is divided into four Divisions as under:
o The Insolvency and Bankruptcy Code, 2016
o Circulars issued under Insolvency and Bankruptcy Code, 2016
o Rules and Regulations
o RBI (Prudential Framework for Resolution of Stressed Assets)
Directions, 2019
· The coverage of the book is as follows:
o List of Rules and Regulations
o Amendments made by the Insolvency & Bankruptcy Code
(Amendment) Act, 2020 and by the Insolvency & Bankruptcy
Code (Second Amendment) Act, 2020 at a glance
o Amendments made by the Insolvency & Bankruptcy Code
(Amendment) Act, 2019 at a glance
o Guide to the Insolvency & Bankruptcy Code (Second
Amendment) Act, 2020
o Guide to the Insolvency & Bankruptcy Code (Amendment)
Act, 2020
o Comprehensive Guide to the Insolvency and Bankruptcy
Code, 2016
o Table showing enforcement of provisions of the Insolvency &
Bankruptcy Code, 2016 from different dates
The Industrial Relations Act of 1967 provides the legal framework for regulating relations between employers and employees/trade unions in Malaysia. The Act aims to prevent and resolve disputes arising from their relationships, promote democratic self-governance in industry, and ensure the speedy resolution of trade disputes. It covers important areas like rights of workers and unions, recognition of unions, collective bargaining, dispute resolution, and restrictions on strikes and lockouts. The Act works together with the Employment Act of 1955 and Trade Unions Act of 1959 to form the basis of Malaysia's industrial relations system.
Managing Dismissal Cases to Avoid RepercussionslegalPadmin
Speech by Dato' Jalaldin b Hussain (Chairman Industrial Court, Malaysia (Rtd)) & Tuan Mohd Khalid Atan (President, MTUC), given in Labour Law Seminar held by Legal Plus Sdn. Bhd (www.legalplus.com.my) on Apr 10, 2015
Recently Hon’ble Rajasthan Authority of Advance Ruling (AAR) has given a ruling in the matter of “Clay Craft India Private Limited” holding that the remuneration paid to Director whether whole time or not will attract GST under Reverse Charge Mechanism (RCM). In this update, we have analysed the captioned AAR ruling along with capturing the current legal position on the matter. #taxlaws #gst #gstupdate #krestonsnr #snr
This document discusses the laws around retrenchment in Malaysia and its implications for human resource management practices. It defines retrenchment as the termination of employment contracts for employees deemed surplus due to factors like restructuring or economic downturn. The document outlines relevant statutes governing retrenchment in Malaysia and findings from court cases that revealed many retrenchments were ruled against employers for poor workforce selection processes or mishandling of retrenchment. It recommends viewing retrenchment as a proactive rather than reactive process involving effective planning and exploring alternatives before use as a last resort.
Managing Dismissal to Avoid RepercussionlegalPadmin
Speech by K.Somasundram, Assistant Secretary from MTUC, given in Labour Law Seminar held by Legal Plus Sdn. Bhd (www.legalplus.com.my) on Apr 10, 2015.
The document discusses whether remuneration paid to directors by a company is subject to GST under the reverse charge mechanism. It notes that while some advance rulings have found remuneration to be taxable under reverse charge, these rulings did not consider whether directors are employees of the company. The document argues that remuneration paid to directors would not be subject to reverse charge GST since it arises from an employer-employee relationship as defined in Schedule III of the GST Act and was not taxed under similar provisions in the previous service tax regime.
Mining Customer’s Data for Vehicle Insurance Prediction System using Decision...idescitation
A classification technique (or classifier) is a
systematic approach used in building classification models
from an input data set. The model generated by the learning
algorithm should fit both the input data well and correctly
predict the class labels of records it has never seen before.
Therefore, a key objective of the learning algorithm is to
build models with good generalization capability i.e. models
that accurately predict the class labels of previously unknown
records. The accuracy or error rate computed from the test set
can also be used to compare the relative performance of
different classifiers on the same domain. However, the results
obtained for accuracy is good and average error rate obtained
is equally acceptable for the test records in which, the class
labels of the test records was known to us, using decision tree
classifier.
Stefanie entered into a 5-year contract with Madam Dora to receive dance training. However, Stefanie was a minor at the time. Generally, contracts entered into by minors are void due to lack of capacity. There are exceptions for necessaries, beneficial contracts, and scholarships. While dance training could potentially fall under a beneficial contract exception, the contract imposed unreasonable restrictions on Stefanie like not allowing other engagements or marriage without consent. Based on past cases, such unreasonable provisions in a contract with a minor are not enforceable. Therefore, the contract between Stefanie and Madam Dora was void, and Stefanie would not be liable for its breach.
Presentation on Employment Law in Malaysia - for Masters class @ UniRazakKevin Koo
This document provides an outline and summary of a presentation on employment laws in Malaysia given by two students, Adnan Seman and Kevin Koo Seng Kiat, at Universiti Tun Abdul Razak. The presentation covers several key topics related to employment laws in Malaysia, including hiring processes and requirements, classifications of workers, rights and responsibilities of employees, minimum standards for wages and benefits, and regulations regarding termination of employment.
The document discusses unfair labor practices under Philippine law. It defines unfair labor practices as violations of workers' rights to organize and collectively bargain that disrupt labor relations. The document outlines unfair labor practices by employers, such as interfering with union activities, discrimination based on union membership, and violating collective bargaining agreements. It also discusses unfair labor practices by unions, remedies and enforcement procedures under the labor code. Finally, it examines various types of union security clauses used in collective bargaining agreements to strengthen unions.
The document discusses various key aspects of Indian employment and labour laws, including the Industrial Employment (Standing Orders) Act 1946. It explains provisions around standing orders, retrenchment notice periods, layoff compensation, prohibition of illegal strikes/lockouts, unfair labour practices, and definitions of terms like "worker", "industry", "industrial dispute", and "wages" under the Industrial Disputes Act. It also outlines the roles of various authorities established under the Act.
1. The document provides information about claims procedures for a private car insurance policy with Bajaj Allianz General Insurance.
2. It advises policyholders to contact the 24-hour call center directly in the event of a claim instead of going through an agent to ensure proper claims registration and assistance.
3. Additional details on claims processes, requirements, and approved repair shops can be found in the claims guide or by contacting the insurance office or agent. Using an unauthorized repair shop may affect cashless repairs or billing.
The document provides an overview of termination of employees laws and challenges in Malaysia presented by Miss Loh Sub Mui. It discusses:
- The rights of employers and employees. Employers have the right to promote, transfer, and determine workforce size while employees have rights to security, safe working conditions, and union participation.
- Key statutory provisions around termination from the Employment Act 1955 including requiring notice periods of 4-8 weeks depending on length of service and allowing termination without notice by paying indemnity.
- Challenges around proving just cause for termination such as misconduct, negligence, poor performance, and managing probationary periods. Proper documentation of warnings and opportunities for improvement is important.
This document provides a summary of recent legal landmarks in India. It lists 6 legal cases covering various topics - taxation of fees for technical services, disallowance of expenses, eligibility for tax deductions, transfer pricing adjustments, fringe benefits tax, and validity of assessments on deceased persons. For each case, it provides the authority, relevant section/rule, ratio or key consideration from the case, and case name or party details. The document was sent by Anand Mehta & Co. consultants to update a client on recent legal precedents.
This document provides guidelines for implementing a managed service provider (MSP) solution for contingent workforce programs in India. It covers key considerations for taxes, labor laws, tenure length, treasury functions, data privacy, time sheets, data migration, and best practices for implementation in India. Taxes include goods and services tax (GST) and tax deducted at source (TDS). Labor laws that apply include those governing contract labor, shops and establishments, minimum wages, bonuses, gratuity, maternity benefits, provident funds, industrial disputes, and employee state insurance. Tenure length is generally limited to 240 days but does not guarantee regularization. Treasury functions require careful handling of invoicing, discounts, and pay when paid
LABOUR LAW AND HUMAN RESOURCES...Unfair labour practices and fundamental righ...cloudious nyikadzino
This document outlines the fundamental rights of employees and unfair labour practices by employers. It discusses employees' rights to join trade unions, protection against discrimination and forced labour, fair labour standards, and democracy in the workplace. The document also covers employers' obligations regarding wages, working hours, and prohibitions against obstructing employees' rights or discriminating based on attributes like gender, disability status, and pregnancy. Overall, the key rights established are freedom of association through trade unions and workers committees as well as protections against exploitation.
This document discusses reverse charge mechanism in India. It provides an overview of the history of reverse charge introduction in 1997 and its subsequent amendments. It outlines services where liability to pay service tax lies with the service recipient under reverse charge as of July 2012, including insurance, sponsorship, rent-a-cab, manpower supply, and services by non-residents. Key points around invoice, CENVAT credit, registration and compliance requirements for recipients are summarized. Specific provisions for reverse charge on GTA, rent-a-cab and works contract services are also highlighted.
1. This document is a certificate and policy schedule for a package policy for a private vehicle.
2. It provides details of the insured (Mr. Naveen Rohira), insured vehicle (a 2014 Maruti WagonR LXi CNG), and insured declared value (Rs. 261,040).
3. It outlines the premium amounts for own damage coverage (Rs. 6,175) and liability coverage (Rs. 2,265), totaling Rs. 9,706 in gross premium paid.
D -pdffiles-3112-policy schedule-201311010046088-policyschedule_3Abhishek Gera
This document provides a certificate of insurance and policy schedule for a motorcycle insurance policy issued by United India Insurance Company Limited to Mr. Amit Kumar. The key details include:
- The policy number and period of insurance from November 1, 2013 to October 31, 2014.
- The vehicle is a 2013 TVS Sport ES motorcycle with an insured declared value of Rs. 42,000.
- Coverage is provided for India. The policy is subject to terms and conditions of the Indian Motor Tariff.
- The total premium due is Rs. 1,284 including taxes.
The document provides information on how the Competition Act of 2002 impacts trade associations in India. It discusses how trade associations can violate the act through anticompetitive agreements or facilitating prohibited information exchanges between competitors. The Competition Commission of India has found some trade associations guilty of cartel-like behavior in the past, such as the film producers association engaging in boycotts and price fixing. Trade associations need to avoid facilitating discussions around prices, markets, bids, and exchanges of sensitive competitive information to stay compliant with the act.
The document summarizes key aspects of India's competition law framework. It outlines that competition law in India was triggered by the constitution and the first law was the Monopolies and Restrictive Trade Practices Act of 1969. This was replaced by the Competition Act of 2002 to promote competition and private enterprise.
The Competition Act established the Competition Commission of India and has four main parts - regulating anti-competitive agreements, abuse of dominance, combination regulation, and competition advocacy. It aims to facilitate competition, establish the CCI to prevent anti-competitive practices, promote market competition, protect consumer interests, and ensure trade freedom. The CCI has powers like imposing penalties, modifying or blocking combinations, and separating dominant enterprises.
Taxmann's Insolvency and Bankruptcy Code 2016Taxmann
This book incorporates the Insolvency & Bankruptcy Code, 2016, and Regulations issued thereunder. Along with the above, the readers also get a specially curated Guide to Insolvency & Bankruptcy Code (Second Amendment) Act 2020 along-with Comprehensive Guide to Insolvency & Bankruptcy Code 2016.
The Present Publication is the 13th Edition, incorporating all the amendments made up to the Insolvency and Bankruptcy Code (Second Amendment) Act, 2020, and is updated till 24th September 2020.
· The book is divided into four Divisions as under:
o The Insolvency and Bankruptcy Code, 2016
o Circulars issued under Insolvency and Bankruptcy Code, 2016
o Rules and Regulations
o RBI (Prudential Framework for Resolution of Stressed Assets)
Directions, 2019
· The coverage of the book is as follows:
o List of Rules and Regulations
o Amendments made by the Insolvency & Bankruptcy Code
(Amendment) Act, 2020 and by the Insolvency & Bankruptcy
Code (Second Amendment) Act, 2020 at a glance
o Amendments made by the Insolvency & Bankruptcy Code
(Amendment) Act, 2019 at a glance
o Guide to the Insolvency & Bankruptcy Code (Second
Amendment) Act, 2020
o Guide to the Insolvency & Bankruptcy Code (Amendment)
Act, 2020
o Comprehensive Guide to the Insolvency and Bankruptcy
Code, 2016
o Table showing enforcement of provisions of the Insolvency &
Bankruptcy Code, 2016 from different dates
A comparative study of the provisions of the Indian Competition Act, US Anti ...Pritam Pandey
This document provides an overview of competition law in India, the United States, and the United Kingdom. It discusses key provisions and comparisons. The main points are:
1) Competition law deals with restrictive business practices and market failures. The US Sherman Act of 1890 was one of the earliest such laws. India, UK, and over 100 other countries now have competition laws.
2) The Indian Competition Act covers anti-competitive agreements, abuse of dominant position, and combinations. It established the Competition Commission of India to enforce the act.
3) US and UK competition laws are more rigorously applied and enforced through criminal sanctions. Violations in India are larger in number but attract less regulatory attention.
This presentation by Ms. Jyoti Jindgar Bhanot was made at the workshop on Competition in Publicly Funded Markets (28 February 2019). Find out more at http://www.oecd.org/daf/competition/workshop-on-competition-in-publicly-funded-markets.htm
The Competition Act 2002 establishes the Competition Commission of India to prevent anti-competitive practices. The Act aims to promote fair competition in markets while also protecting consumer interests. It prohibits anti-competitive agreements between entities, abuse of dominant market positions, and combinations that could significantly reduce competition. The Commission regulates mergers, acquisitions, and other transactions to ensure they do not harm competition in relevant markets.
Competition is the best means of ensuring that the ‘Common Man’ or ‘Aam Aadmi’ has access to the broadest range of goods and services at the most competitive prices. With increased competition, producers will have maximum incentive to innovate and specialize. This would result in reduced costs and wider choice to consumers. A fair competition in market is essential to achieve this objective. Our goal is to create and sustain fair competition in the economy that will provide a ‘level playing field’ to the producers and make the markets work for the welfare of the consumers
The document provides an overview of the Competition Act of 2002 in India. Some key points:
- The Competition Act aims to prevent anti-competitive practices and promote competition. It established the Competition Commission of India (CCI) to implement the law.
- The Act repealed the Monopolies and Restrictive Trade Practices Act of 1969, which took a narrow view of competition. The new law focuses on "appreciable adverse effects on competition."
- CCI's roles include investigating anti-competitive agreements and abuse of dominance, regulating mergers and acquisitions, conducting advocacy work, and imposing penalties on violators.
The document provides an overview of India's Competition Act of 2002. It discusses the objective of establishing the Competition Commission of India to promote fair competition and protect consumers. The Act prohibits anti-competitive agreements between companies and abuse of dominant market positions. It also regulates mergers and acquisitions. The Competition Commission of India enforces the Act and works to advocate for competition through non-enforcement measures like education programs. The Act has been amended over time to address challenges in its implementation and continue meeting India's evolving economic needs regarding fair competition.
The document summarizes the objectives and key aspects of the Competition Act 2002 in India. It discusses the establishment of the Competition Commission of India (CCI) and the role of the Director General to investigate complaints. It also outlines various prohibited anti-competitive agreements and practices as well as the regulation of combinations/mergers under the Act.
This presentation discusses cartels in India under the Competition Act 2002. It defines cartels and outlines their treatment in Sections 2 and 3 of the Act. Notable cases where cartels were found include those in the soda ash and cement industries. Joint ventures are exempt if they improve efficiency. Suggestions include better detecting small cartels through more regulatory units. In conclusion, the Competition Commission of India has stronger powers than its predecessor to address anticompetitive cartels.
PPT in Company competition in India.
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- This document is an insurance policy schedule and certificate for a private car package policy issued by The New India Assurance Co. Ltd. to Gyan Singh Rajpoot for his 2013 Volkswagen Cross Polo registered in Madhya Pradesh.
- The policy provides coverage from February 10, 2021 to February 9, 2022 for own damage to the vehicle as well as liability coverage.
- The total premium due is Rs. 8,664 inclusive of taxes, providing coverage up to the insured declared value of Rs. 3,08,000 for the vehicle.
The Competition Act of 2002 established the Competition Commission of India (CCI) to prevent anti-competitive practices and promote competition. The CCI is tasked with investigating anti-competitive agreements, abuse of dominant market positions, and mergers and acquisitions. Parties to a combination are not required to notify the CCI, but the CCI can investigate combinations on its own. The CCI faces challenges due to overlapping jurisdictions, unrealistic timelines, lack of cooperation from foreign counterparts, and limited resources and infrastructure.
The document discusses the Competition Act 2002 of India. It established the Competition Commission of India (CCI) to promote fair competition in markets and protect consumer interests. Key points include:
- The Act aims to prevent anti-competitive practices and ensure free trade. It replaced the older MRTP Act of 1969.
- The CCI investigates anti-competitive agreements and abuse of dominant position. An appellate tribunal was also established to hear appeals on CCI orders.
- Recent amendments transferred the power to award compensation from the CCI to the appellate tribunal and removed the obligation of high courts to implement CCI decisions.
- The overall objective is to promote economic efficiency through competition and create market responses
The Competition Act of 2002 established the Competition Commission of India to prevent anti-competitive practices and promote competition. The Act defines anti-competitive agreements that directly or indirectly affect purchase or sale prices, limit production or supply, restrict technical development or service provision in the market. Such agreements are considered to have an appreciable adverse effect on competition and are void. The Commission is empowered to pass orders directing discontinuation of anti-competitive practices, impose penalties up to 10% of turnover, or modify agreements to reduce adverse effects on competition.
The document provides an overview of the Competition Act of 2002 in India. Some key points:
- The Act aims to promote fair competition in the market and protect consumer interests by prohibiting anti-competitive agreements and abuse of dominant market positions.
- It established the Competition Commission of India (CCI) to investigate anti-competitive practices and regulate combinations (mergers and acquisitions).
- The Act prohibits anti-competitive agreements, abuse of dominant positions, and combinations that negatively impact competition. It replaced the Monopolies and Restrictive Trade Practices Act of 1969.
- Key concepts defined include cartels, enterprises, persons, relevant markets, and what constitutes anti-competitive agreements and abuse of
This document summarizes the key aspects of the Competition Act of 2002 in India. Some of the main points covered include:
- The Act established the Competition Commission of India to prevent anti-competitive practices, promote fair competition, protect consumer interests and ensure freedom of trade.
- It replaced the MRTP Act of 1969 to address the needs of the modern globalized economy. The new Act defined competition concepts, regulated combinations, and gave the Commission penalty powers.
- The Act prohibits anti-competitive agreements, abuse of dominant market positions, and regulates combinations. It established procedures for investigation and imposed penalties for non-compliance.
- Case studies demonstrate how the Commission has evaluated allegations of abuse of dominance,
The Competition Act of 2002 established the Competition Commission of India to prevent anti-competitive practices. The Act prohibits anti-competitive agreements between enterprises, abuse of dominant position by enterprises, and regulates combinations (mergers and acquisitions) that are likely to cause an adverse effect on competition in India. It aims to promote fair competition in the market for the benefit of consumers. The key features of the Act include defining anti-competitive agreements and abuse of dominant position, regulating combinations, and establishing penalties for non-compliance.
GST Made Easy provides an Updated, Comprehensive & Simplified Analysis of each provision of the GST Law. The objective behind this book is that the understanding of GST should be as easy as ABC. This book provides answers to all your practical queries on GST.
The Present Publication is the 10th Edition, authored by CA (Dr.) Arpit Haldia & updated till 15th June 2021, with the following noteworthy features:
• [Focus on Analysis of Substantive Provisions of the GST Law] such as supply, time of supply, place of supply, value of supply, input tax credit, etc.
• [Guidance on all Procedural Provisions] relating to registration, composition scheme, returns, liability to pay tax, etc.
• [Coverage of Provisions of the GST Law] such as assessment, demand & recovery, refunds, e-way bill, job work, etc.
The contents of the book are as follows:
• Introduction
• An Overview of GST
• Person Liable to Pay Tax in GST
• Registration in GST
• What is Supply
• Time of Supply of Goods
• Time of Supply of Services
• Value of Supply
• Place of Supply
• Determination of Supply in the Course of Inter-State Trade or Commerce or Intra-State Supplies
• Job Work
• Invoice, Credit and Debit Notes
• Input Tax Credit
• Payment of Taxes
• Brief about Persons requiring Mandatory Registration
• Composition Levy – For Supplier of Goods and for Persons Engaged in Making Supplies Referred to in Clause (b) of Paragraph 6 of Schedule II
• Returns
• Assessment
• Refund
• Accounts and Records
• E-Way Bill
• Advance Ruling
• Composition Scheme for Services or Mixed Suppliers
• Demand and Recovery
• Penalty
• Rule 86B – Payment of 1% of Output Liability in Cash
Taxmann's Guide to SARFAESI Act 2002 & Recovery of Debts and Bankruptcy Act 1993Taxmann
This document provides an overview of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). It discusses the background and objectives of the Act, key features such as enforcement of security, securitization, and asset reconstruction. It also examines related topics such as the constitutional validity of the Act, applicability to different entities, and interactions with other laws like the Recovery of Debts and Bankruptcy Act, 1993 and Insolvency and Bankruptcy Code, 2016. The document outlines the procedures for enforcement of security, sale of secured assets, appeals and penalties under the SARFAESI Act.
Taxmann's LLP Manual is a compendium Amended, Updated & Annotated text of the Limited Liability Partnership Act, 2008 (as amended by the Limited Liability Partnership (Amendment) Act, 2021) along with Rules, Circulars, and Notifications.
This book is divided into four divisions:
• Limited Liability Partnership Act, 2008
• Limited Liability Rules
• Circulars & Notifications
• Foreign Direct Investment in Limited Liability Partnership
The Present Publication is the 8th Edition & amended up to 13th August 2021, authored by Taxmann's Editorial Board, with the following noteworthy features:
• [List of Amendments, at a glance] made by the Limited Liability Partnership (Amendment) Act, 2021
• [Short Commentary] on the following:
◦ Limited Liability Partnership (Amendment) Act, 2021
◦ Limited Liability Partnership Act, 2008
• [Integrated LLP Rules, Circulars & Notifications, FDI Policy, FEMA Regulations]
◦ Limited Liability Partnership Rules, 2009 as amended up to date
◦ Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
◦ Text of LLP Circulars & Notifications
◦ FDI Policy related to LLPs
◦ FEMA Regulations & Schedules related to LLPs
• [Taxmann's series of Bestseller Books] on LLP Laws
• [Follows the six-sigma approach] to achieve the benchmark of 'zero error'
GST Investigations Demands Appeals & Prosecution aims to cover the past & emerging jurisprudence on the subject matter along with a lucid commentary on the statutory provisions under the GST Law relating to the following:
• GST Inspection
• GST Search
• GST Seizure
• GST Detention
• GST Audit
• GST Confiscation
• GST Penalty
• GST Show Cause Notice
• GST Adjudication
• GST Appeals
• GST Revision
• GST Prosecution
• GST Compounding
The objective of this book is to sensitize both taxpayers and tax officers of their rights and obligations when:
• Investigations are undertaken;
• Records and documents are seized;
• Officials from companies are summoned, and
• Statements are recorded.
This book will be helpful for taxpayers, departmental officers, members of the bar & bench, professionals and the judiciary to appreciate the intricate points and issues arising out of implementation of the relevant provisions conferring wide powers on the officers.
The Present Publication is the Latest Edition, authored by Dr. Gokul Kishore & R. Subhashree & amended up to July 2021, with the following noteworthy features:
• [Commentary/Practical Guide] This book is intended to serve as a commentary and also a practical guide to all stakeholders on the provisions and issues emerging from various orders passed by High Courts on search, summons, arrest, bail, provisional attachment, demands, penalty and confiscation
• [Analysis of the Statutory Provisions featuring Landmark Cases & Recent Orders] GST is in force for only four years. Still, instances of the use of powers of search and seizure have been increasingly visible. This book analyses the provisions along with both the landmark cases on this subject as well as the recent orders under GST law.
• [Analysis includes the Previous & Current Regime of Indirect-taxes] While arrest and prosecution powers have been in the statute book under the pre-GST tax laws, the frequency of invocation of such powers in the GST regime is high. Various orders on bail, conditions for bail and validity of arrest passed by High Courts have been discussed to comprehend the scope, limitations and interpretation of the provisions
• [Threadbare Analysis with Established Jurisprudence & Principles Evolved over the Years] Proceedings for recovery of tax commences with demand notice or show cause notice followed by adjudication order, and the dispute is carried in an appeal if either party is aggrieved. The provisions under GST law on demands, adjudication, appeals, revision and recovery action have been subjected to threadbare analysis with the help of established jurisprudence and principles evolved over the years
Taxmann's GST Law & Practice is a unique/concise book on the GST Laws (i.e., Statutory Portion & Case Laws). Coverage of the book is as follows:
• Central Goods and Services Tax Act 2017 (CGST)
• Integrated Goods and Services Tax Act 2017 (SGST)
• Goods and Services Tax (Compensation to States) Act 2017
• Classification of Goods & Services
What sets it apart is the 'unique way of presenting' the compendium of 'updated, amended & annotated' text of the CGST & SGST Acts along with relevant Rules, Notifications, Forms, Circulars, Clarifications, and Case Laws. In other words, read the Section & get the following:
• Text of the relevant Rules & Notifications
• The gist of the relevant Circulars
• Date of enforcement of provisions
• Allied Laws referred to in the provision
• Gist of relevant Case Laws with an easy-to-understand summary
This book also includes Case Laws on the classification of goods & services under the GST regime in a separate division.
The Present Publication is the 2nd Edition, amended up to July 2021, authored by CA (Dr.) Arpit Haldia & CA Mohd. Salim, with the following noteworthy features:
• [Taxmann's series of Bestseller Books] on GST Laws
• [Follows the six-sigma approach] to achieve the benchmark of 'zero error.'
The detailed contents of the book are as follows:
• Central Goods & Services Tax Act 2017
◦ Arrangement of Sections
◦ Arrangement of Rules
◦ Text of the Central Goods & Services Tax Act, 2017
◦ Removal of Difficulties Order
◦ Text of Provisions of Allied Acts referred to in Central Goods & Services Tax Act, 2017
◦ Subject Index
• Integrated Goods & Services Tax Act 2017
◦ Arrangement of Sections
◦ Arrangement of Rules
◦ Text of the Integrated Goods & Services Tax Act, 2017
Subject Index
• Goods and Services Tax (Compensation to States) Act 2017
◦ Arrangement of Sections
◦ Text of the Goods and Services Tax (Compensation to States) Act, 2017
◦ Subject Index
• Classification of Goods & Services
◦ Classification of Goods
◦ Classifications of Services
This standard provides guidance on accounting for property, plant and equipment (PPE), which typically constitute a significant portion of total assets. It discusses capitalization of expenditures on PPE, depreciation, retirement and disposal of PPE. These have a material impact on balance sheet and profit and loss statement. The standard scopes in tangible items held for use in production/supply of goods/services, rental to others or for administrative purposes, which are expected to be used for more than one period.
GST Exports-Imports & Deemed Exports is a harmonious blend of the following laws:
• GST
• Customs
• Foreign Trade Policy
• Allied Laws
This book aims to consolidate & explain different provisions of the law and subsequent procedural changes such as Notifications, Circulars, Instructions and Trade Notices issued by CBIC and DGFT, along with relevant Advance Rulings with regards to Imports, Exports, Deemed Exports under different laws.
This book is intended to help the trade and industry dealing with exports, imports and deemed exports for compliance with the legal requirements and avail the benefits under various provisions of the Foreign Trade Policy, Customs and GST laws with better understanding and appreciation of the intricacies.
The Present Publication is the 2nd Edition, authored by Kaza Subrahmanyam & T.N.C. Rajagopalan, with the following coverage:
• [Conceptual Understanding of provisions of Imports and Exports] of Goods & Services
• [Meaning of Zero Rated Supply along with Refunds] for Physical Exports and Deemed Exports under GST
• [Treatment of supplies by and to EOU/SEZ unit or SEZ Developer/FTWZ] along with Special Exemptions/Concessions and procedural requirements
• [Foreign Trade Policy] under GST
Guide to Customs Valuation is a complete and comprehensive commentary on laws relating to valuation under Customs laws. It is a brief, concise and handy reference book, which provides the updated and simplified analysis of provisions to determine valuation under the Customs laws.
This book will be helpful for Customs Consultants, Advocates, Corporate Managers & Departmental Officers.
This book is divided into two parts:
• Valuation of Imported Goods
• Valuation of Export Goods
The Present Publication is the Latest Edition, authored by H.K. Maingi, amended up to July 2021, with the following noteworthy features:
• [Conceptual Understanding of Valuation] Conceptual understanding of provisions of Valuation under Section 14 of Customs Act and Customs Valuation (Determination of Value of Export Goods) Rules, 2007
• [Valuation] Valuation of Imported Goods & Exported Goods, Valuation in case of High Sea Sales & related persons, Valuation of capital goods on debonding, etc.
• [Various Additions in Transaction Value] Various additions in Transaction Value such as Brokerage, Service Charge, Transportation, etc.
• [Other Concepts] Concepts of related persons, under-invoicing and over-invoicing, Special Valuation Branch, etc.
This edition covers everything you need to understand about the provisions of Valuation under Customs in a subtle and simplified language.
The detailed coverage of the book is as follows:
• Introduction
• Valuation of Imported Goods
◦ Transaction Value
◦ Transaction Value to be Accepted in the Absence of Condition and Restriction under Rule 3(2)
◦ Contract Prices and Transaction Value
◦ High Sea Sales and Transaction Value
◦ Related Persons
◦ Transaction Value of Identical or Similar Goods and Contemporaneous Imports
◦ Deductive Value
◦ Computed Value
◦ Residual Method
◦ Reliance on Foreign Journals indicating International Prices for Determining Assessable Value
◦ Addition to Transaction Value Royalty, Licence and Technical Know-How Fees
◦ Other Addition to Transaction Value
◦ Declaration by the Importer
◦ Rejection of Declared Value
◦ Investigation by Special Valuation Branch
• Valuation of Export Goods
◦ Export Valuation
◦ Under-Invoicing and Over-Invoicing of Exports
◦ Customs Valuation (Determination of Value of Export Goods) Rules, 2007
◦ Inclusion/Exclusion Duty Element from Cum Duty Price
◦ Valuation of Goods Sold in DTA from EOU and Debonding of Capital Goods from EOU
Taxmann's MCQs and Integrated Case Studies on Corporate & Economic LawsTaxmann
MCQs & Integrated Case Studies on Corporate & Economic Laws are prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 6th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [Knowledge Based & Application Based MCQs] as per the pattern applicable for the exams
• Includes the following types of MCQs in a Separate Section in Each Chapter:
◦ RTPs & MTPs
◦ Past Exam Questions
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Amendment) Act, 2020
◦ Companies (Appointment and Qualifications of Directors) 5th Amendment Rules, 2020
◦ Schedule V of the Companies Act, 2013
◦ Master Directions – External Commercial Borrowings (Updated as of 12th April 2021)
◦ Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
◦ Foreign Contribution (Regulation) Amendment Act, 2020
◦ Arbitration and Conciliation (Amendment) Act, 2021
◦ Insolvency and Bankruptcy (Amendment) Ordinance, 2021
Also Available:
• [7th Edition] of Taxmann’s Corporate & Economic Laws (New Syllabus)
• [7th Edition] of Taxmann’s CRACKER cum Exam Guide on Corporate & Economic Laws (New Syllabus)
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies + Class Notes
Contents of this book are as follows:
• Appointment and Qualifications of Directors
• Meeting of the Board and its Powers
• Appointment and Remuneration of Managerial Personnel
• Inspection, Inquiry and Investigation
• Compromises, Arrangements and Amalgamations
• Prevention of Oppression & Mismanagement
• Winding Up
• Companies Incorporated Outside India
• Miscellaneous Provisions
• Adjudication and Special Courts
• NCLT and NLCAT
• Corporate Secretarial Practice
• Securities Contracts (Regulation) Act, 1956 and SCR Rules, 1957 | Deleted from Syllabus
• Securities and Exchange Board of India Act, 1992 & SEBI (LODR) Regulations, 2015
• Foreign Exchange Management Act, 1999
• Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act, 2002) | Deleted from Syllabus
• Prevention of Money Laundering Act, 2002
• Foreign Contribution (Regulation) Act, 2010
• Arbitration and Conciliation Act, 1996
• Insolvency and Bankruptcy Code, 2016
• Integrated Case Studies
Taxmann’s CRACKER for Corporate & Economic Laws is prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 7th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, authored by Pankaj Garg, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [600+ Questions and Case Studies] with complete answers
• Coverage of this book includes:
• All Past Exam Questions
▪ CA Final July 2021 (New Syllabus) – Suggested Answers
◦ Questions from RTPs and MTPs of ICAI
• [Chapter-wise] marks distribution for Past Exams
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Amendment) Act, 2020
◦ Companies (Appointment and Qualifications of Directors) fifth Amendment Rules, 2020
◦ Schedule V of the Companies Act, 2013
◦ Master Directions – External Commercial Borrowings (Updated as of 12th April 2021)
◦ Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
◦ Foreign Contribution (Regulation) Amendment Act, 2020
◦ Arbitration and Conciliation (Amendment) Act, 2021
◦ Insolvency and Bankruptcy (Amendment) Ordinance, 2021
Also Available:
• [7th Edition] of Taxmann’s Corporate & Economic Laws (New Syllabus)
• [6th Edition] of Taxmann’s MCQs & Integrated Case Studies on Corporate & Economic Laws (New Syllabus)
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies
Contents of this book are as follows:
• Appointment and Qualifications of Directors
• Meeting of the Board and its Powers
• Appointment and Remuneration of Managerial Personnel
• Inspection, Inquiry and Investigation
• Compromises, Arrangements and Amalgamations
• Prevention of Oppression & Mismanagement
• Winding Up
• Companies Incorporated Outside India
• Miscellaneous Provisions
• Adjudication and Special Courts
• National Company Law Tribunal and Appellate Tribunal
• Corporate Secretarial Practice – Drafting of Notices, Resolutions, Minutes & Reports
• Securities Contracts (Regulation) Act, 1956 and SCR Rules, 1957 (Deleted from syllabus)
• Securities and Exchange Board of India Act, 1992 & SEBI (LODR) Regulations, 2015
• Foreign Exchange Management Act, 1999
• Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act, 2002)
• Prevention of Money Laundering Act, 2002
• Foreign Contribution (Regulation) Act, 2010
• Arbitration and Conciliation Act, 1996
• Insolvency and Bankruptcy Code, 2016
FEMA & FDI Ready Reckoner provides complete and accurate information about all provisions of the Foreign Exchange Management Act, 1999 (FEMA). It also includes guidance on all practical issues faced by companies and FEMA professionals.
Key features of this book are as follows:
• Topic-wise commentary on FEMA
• Analysis of all provisions of FEMA with relevant Rules, Judicial Pronouncements, Circulars, Notifications and Master Directions issued by Reserve Bank of India
• Law Relating to the following
◦ Prevention of Money Laundering Act
◦ Foreign Contribution (Regulation) Act
◦ COFEPOSA
The Present Publication is the 15th Edition, and it is amended up to 30th June 2021. The coverage of this book is as follows:
• FEMA – Overview
• Authorised Person under FEMA
• Account in India by Person Resident out of India
• Accounts of Indian Residents in Foreign Currency
• Receipt and Payment in Foreign Exchange
• Realisation, Repatriation and Surrender of Foreign Exchange
• Money Changing Activities
• Money Transfer Service Scheme (MTSS)
• Possession and Retention of Foreign Currency
• Export and Import of Currency or Currency Notes
• Remittances on Current Account
• Liberalised Remittance Scheme (LRS)
• Export of Goods and Services
• Import of Goods and Services
• Project Exports and Service Exports
• Foreign Exchange Rates
• Overview of Capital Account Transactions
• Foreign Investment in India
• FDI in Indian Company
• Section Wise FDI Policy at a Glance
• FDI – Downstream Investment, i.e. Indirect Investment
• FDI through Rights, Bonus, Sweat Equity or Merger/Amalgamation
• FDI – Transfer of Securities
• FDI in LLP
• FDI in GDR/ADR
• Investment by NRI or OCI
• FDI in Startup Company
• Investment by Foreign Portfolio Investors
• FDI in Investment Vehicle
• FDI by FVCI
• FDI – Investment in Securities by Funds, Foreign Central Bank, etc.
• Investment by Indian Entity in JV/WOS Abroad
• Guarantees
• Insurance
• Borrowing and Lending in Foreign Currency
• Borrowing and Lending in Indian Rupees
• Foreign Investment in Debt Instruments
• External Commerical Borrowings
• Trade Credit (TC) and Structured Obligations
• Acquisitions and Transfer of Immovable Property in India
• Acquisition and Transfer of Immovable Property out of India
• Remittance of Assets
• Branch/LO/Project Office in India by Foreign Entities
• Indian Depository Receipts
• Risk Management and Inter-Bank Dealings
• VOSTRO Account of Non-Resident Exchange Houses
• Industrial Policy of Government of India
• Enforcement of FEMA
• Penalties under FEMA
• Appeals under FEMA
• Compounding of Contraventions under FEMA
• Prevention of Money Laundering Act
• Foreign Contribution (Regulation) Act (FCRA)
• COFEPOSA, 1974
This book provides a para-wise commentary on Companies (Auditor’s Report) Order. It is a complete guide on the applicability and the matters that need to be reported by an Auditor on CARO.
This book is divided into three divisions:
• CARO Reporting under CARO, 2020 (Applicable from Financial Year 2021-22)
• CARO Report on Consolidated Financial Statements under CARO, 2020
• CARO Reporting under CARO, 2016 (Applicable for Financial Year 2021-22)
This book will be helpful for Auditors
The Present Publication is the 8th Edition, amended up to 30th June 2021, authored by CA Srinivasan Anand G., with the following noteworthy features:
• [FAQs & Case Studies]
◦ CARO 2016
◦ CARO 2020
• [Amended Schedule II] Related disclosure requirements
• [Clause-wise Ready Reckoner] on CARO 2020
• Review of earlier versions of CARO to do a quick comparison(s)
• [In a Nushell] CARO 2020
• Relevant Provisions of Companies Act, 2013
Taxmann's Indian Accounting Standards (Ind AS)Taxmann
Indian Accounting Standards (Ind AS) contains the updated Indian Accounting Standards issued under the Companies (Indian Accounting Standard) Rules, 2021.
It provides a complete understanding of the definitions, entities liable to apply Ind AS, and exemptions.
The Present Publication is the 2nd Edition, authored by Taxmann’s Editorial Board, updated till 30th June 2021, with the following noteworthy features:
• [Text of Indian Accounting Standard (Ind AS)] notified under Companies (Indian Accounting Standard) Rules, 2021;
• [Guide for Definitions] in Indian Accounting Standards
• [Guide on Applicability] of Indian Accounting Standards
• [Guide on Obligations to Comply with] in Indian Accounting Standards
• [Guide on Exemptions/Relaxations] in Indian Accounting Standards
The contents of the book are as follows:
• Arrangement of Rules
◦ Short Title and Commencement
◦ Definitions
◦ Applicability of Accounting Standards
◦ Obligation to Comply with Indian Accounting Standards (Ind AS)
◦ Exemptions
• General Instructions
• Indian Accounting Standards (Ind AS)
Taxmann's Indian Competition Law is a section-wise commentary on Competition Law. What sets this book apart is the unique combination of the study of both substantive and procedural elements of Competition Law in India.
The objective of this book is three-fold:
• Focusing on Indian Competition Law, elucidating the Indian jurisprudence and then comparing it with positions taken by European Union (EU) and the United States
• This book does not get restricted to the major provisions/broader issues of competition law but also highlights economic, technical and administrative concepts/issues that are relevant in the practical application and interpretation of competition law
• This book does not become a technical treatise but a document that a wider audience can read and understand, including lawyers, judges, academicians, lawmakers, market regulators, & entrepreneurs.
The Present Publication is the Latest Edition, authored by Adv. Gautam Shahi & Dr. Sudhanshu Kumar, amended up to 30th May 2021, with the following noteworthy features:
• [Detailed Study on Fundamental Issues] including:
o Anti-Competitive Agreements
o Abuse of Dominant Position
o Combinations (Acquisitions and Mergers)
• [Evolution of Competition Jurisprudence] in India
• [Comparitive Assessment] of major issues in Indian competition law with vis-à-vis EU, UK, and the USA
• [Exhaustive Analysis] on Rules, Regulations, Guidance issued by CCI & Case Laws decided by the CCI, COMPAT (now NCLAT), High Courts, and the Supreme Court
• [Interaction of Competition Act with other Laws] such as:
o Administrative Law
o Intellectual Property Laws
o Telecom Laws
Tax Practice Manual is an exhaustive (2,100+ pages), amended (by the Finance Act, 2021) & practical guide (330+ case studies) for Tax Professionals.
This book will be helpful for the Chartered Accountants, Lawyers/Advocates, Tax Practitioners to assist them in their day-to-day tax works.
This book is divided into two parts:
• Law Relating to Tax Procedures (covering 25+ topics)
• Case Studies (covering 35+ topics)
The Present Publication is the 7th Edition, authored by Gabhawala & Gabhawala, as amended by the Finance Act 2021, with the following noteworthy features:
• Law Relating to Tax Procedures
◦ [Lucid Explanation, in a Practical Manner, with Checklists & necessary Tips] for the law relating to Tax Procedure
◦ [Exhaustive Coverage of Case Laws]
◦ [Fine Prints & Unwritten Lines] are explained in a lucid manner
• Tax Practice
◦ [Elaborated & Threadbare Analysis] of every aspect of Tax Practice
• Case Studies
◦ [330+ Case Studies] to deal with real-life animated situations/problems faced by tax practitioners
• Draft Replies
◦ For the Notices sent by the Department
◦ Petitions to the Department
• Drafting & Conveyancing
◦ [Complete Guide to Drafting of Deeds & Documents] covering
◦ Affidavits
◦ Wills
◦ Special Business Arrangements
◦ Family Arrangements
◦ Power of Attorney
◦ Lease, Rent & Leave and Licenses
◦ Indemnity and Guarantee
◦ Charitable Trust Deeds, etc.
The contents of this book are as follows:
• Law Relating to Tax Procedures
◦ Tax Practice
◦ Pre-assessment Procedures
◦ Assessment
◦ Appeals
◦ Interest, Fees, Penalty and Prosecution
◦ Refunds
◦ Settlement Commission – ITSC, Interim Board for Settlement
◦ Summons, Survey, Search
◦ TDS and TCS
◦ Recovery of Tax
◦ Special Procedures
◦ Approvals
◦ STT, DDT, Tax on Liquidation, Reduction and Buy Back, MAT, AMT and WT
RTI, Ombudsman
◦ Drafting of Deeds
◦ Agreement, MoU
◦ Gifts, Wills, Family Arrangements
◦ Power of Attorney, etc.
◦ Lease, Rent, License, etc.
◦ Sale/Transfer of Properties
◦ Tax Audit
◦ Income Computation & Disclosure Standards
◦ Real Estate (Regulation and Development) Act, 2016 (RERA)
◦ E-Proceedings under the Income Tax Act, 1961
◦ Prohibition of Benami Property Transactions Act, 1988
• Case Studies
◦ Tax Practice
◦ Pre-Assessment Procedures
◦ Assessment – Principles and Issues
◦ Rectification of Mistake
◦ Revision
◦ Appeals to CIT (Appeals)
◦ Appeals to – ITAT – High Court – Supreme Court
◦ Interest Payable by Assessee
◦ Penalties
◦ Prosecution
◦ Refunds
◦ Settlement of Cases
◦ Survey
◦ Search & Seizure
◦ Tax Deduction at Source
◦ Recovery of Tax
◦ Trust, Mutuality, Charity
◦ Firm
◦ LLP – Limited Liability Partnership
◦ Right to Information – RTI
◦ Agreement, MoU
◦ AOP – Association of Persons
◦ HUF – Hindu Undivided Family
◦ Gifts
◦ Wills
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◦ Power of Attorney
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◦ Lease, Rent, Leave and License
◦ Sale/Transfer of Properties
◦ Tax Audit
Taxmann's CLASS NOTES | Direct Tax Laws and International TaxationTaxmann
Taxmann’s CLASS NOTES for Direct Tax Laws & International Taxation is a one-stop solution to conquer the vast subject of Direct Taxation with ease. The objective behind this book is to minimize the need to consult multiple voluminous books while revising the day before the exam.
This book aims at providing all concepts in a simple language, with proper linking and a smart sequential approach. It also explains the provision of the law without resorting to paraphrasing of sections or legal jargons.
The Present Publication is the 2nd Edition (For New Syllabus) & Updated till 30th April 2021, authored by CA V. Rahul Agarwal, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [Pictorial Presentation/Charts with Handwritten Fonts] are used in the book for easy understanding of theoretical concepts
• [Multi-Colour Coded Book] which follows the below structure:
◦ Blue – Heading
◦ Black – Main Content
◦ Red – Summarised version of the main content
◦ Green – Amendments applicable for the examination
◦ Yellow Highlights – Key adjustments to be highly cautious of; ‘The Accident-Prone Zones’
◦ Blue Boxes – Significant selected Case Laws provided by ICAI
◦ Green Boxes – Authors personal notes for better understanding and clarity
• [Amendments for November 2021 Examination] are provided at the end of the module
Also Available:
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Taxmann's Problems & Solutions for Direct Tax Laws & International TaxationTaxmann
Taxmann's PROBLEMS & SOLUTIONS for Direct Tax Laws & International Taxation is a compilation of questions & MCQs (prepared using handwritten fonts) from the educational materials, RTPs, MTPs and past examination papers of both old & new syllabus of ICAI (up to 30th April 2021). These are aligned with provisions applicable for Nov. 2021 Exams and are arranged Topic-wise & Chapter-wise with proper reference to the paper as well as attempt for convenience and trend analysis.
The Present Publication is the 2nd Edition (For New Syllabus) & Updated till 30th April 2021, authored by CA V. Rahul Agarwal, with the following noteworthy features:
• [Coverage of All Questions & MCQs] in handwritten fonts
◦ For Old/New Syllabus; issued up to 30th April 2021, from the following:
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▹ Past Examination Papers of ICAI
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The contents of the book are as follows:
• Summary of Special Adjustments
• Part A – Direct Taxation
◦ Basics of Income Tax
◦ Special Tax Regime
◦ Taxation of Agriculture Income
◦ Income from Salary
◦ Income from House Property
◦ Profits and Gains of Business or Profession
◦ Capital Gains
◦ Taxation of Business Re-Organisations
◦ Taxation of Distribution to Owners
◦ Income from Other Sources
◦ Taxation of Dividends & Income from Units
◦ Comprehensive Questions
◦ Assessment of Firms & LLP
◦ Assessment of AOP & BOI
◦ Assessment of Non-Profit Organization (NPO) & Exit Tax
◦ Assessment of Business Trust
◦ Assessment of Other Persons
◦ Taxation of Unexplained Income
◦ Clubbing of Income
◦ Set-Off and Carry Forward of Losses
◦ Exemptions & Sec. 10AA Deductions
◦ Chapter VI-A Deduction
◦ Minimum Alternate Tax [Section 115JB] & Alternate Minimum Tax [Section 115JC]
◦ TDS & TCS
◦ Payment of Taxes & Return Filing
◦ Assessment Procedure
◦ Appeals & Revisions
◦ Settlement Commission
◦ Tax Planning, Avoidance & Evasion
◦ Penalties, Offence & Prosecution
◦ Liability in Special Cases
◦ Statement of Financial Transactions (SFT) & Miscellaneous Provisions
• Part B – International Taxation
◦ Transfer Pricing & Related Provisions
◦ Residential Status & Scope of Total Income
◦ Non-Resident Taxation
• Part C – Suggested Answers (Amended as Applicable for A.Y. 2021-22)
Taxmann's 20 REVISED DUE DATES under Income-tax ActTaxmann
In view of the COVID-19 pandemic, the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TLA Act, 2020) has extended various due dates of compliances. The due dates so extended by the TLA Act, 2020 have been extended again on multiple occasions by the CBDT. The CBDT has again extended the due dates for certain compliances and has also announced to provide tax exemption for the expenditure incurred by the taxpayers on COVID-19 treatment. Further, the ex-gratia or any compensation received by the family members of any person who succumbed to COVID-19 will be exempt from tax. The impact of new notifications and circulars on various time barring dates and certain compliance of the Income-tax Act are discussed in the below paragraph.
Taxmann's MCQs and Integrated Case Studies on Advanced Auditing and Professio...Taxmann
1. ABC Ltd is a leading pharmaceutical company acquired by XYZ Ltd 5 years ago. XYZ Ltd holds 75% shares of ABC Ltd.
2. The governments of Punjab, Haryana and Rajasthan collectively hold 51.5% shares of XYZ Ltd.
3. The auditor of ABC Ltd, Mr. Shyam, resigned on 29th Oct 2020 due to medical reasons but failed to inform the authorities.
4. RMT & Co was appointed to fill the casual vacancy created by Mr. Shyam's resignation as statutory auditor of ABC Ltd.
Taxmann's CRACKER | Advanced Auditing & Professional EthicsTaxmann
Taxmann’s CRACKER for Advanced Auditing & Professional Ethics is prepared exclusively for the requirement of the Final Level of Chartered Accountancy Examination. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 8th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
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▪ CA Final January 2021 (New Syllabus) – Suggested Answers
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• [Point wise] answers for easy learning
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• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Audit and Auditor’s) Amendment Rules, 2021
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◦ Companies (Auditor’s Report) Order 2020
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The contents of the book are as follows:
• Quality Control and Engagement Standards
• Audit Planning, Strategy and Execution
• Risk Assessment and Internal Control
• Audit in an Automated Environment
• Professional Ethics
• Company Audit
• Audit Reports
• CARO 2020
• Audit of Consolidated Financial Statements
• Audit of Dividend
• Audit Committee and Corporate Governance
• Liabilities of Auditors
• Internal Audit
• Management and Operational Audit
• Audit under Fiscal Laws
• Due Diligence, Investigation & Forensic Audit
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• Audit of Banks
• Audit of Non-Banking Finance Companies
• Audit of Insurance Companies
• Audit of Public Sector Undertakings
• Questions on Ind-AS
• Questions on Schedule III
Genocide in International Criminal Law.pptxMasoudZamani13
Excited to share insights from my recent presentation on genocide! 💡 In light of ongoing debates, it's crucial to delve into the nuances of this grave crime.
Integrating Advocacy and Legal Tactics to Tackle Online Consumer Complaintsseoglobal20
Our company bridges the gap between registered users and experienced advocates, offering a user-friendly online platform for seamless interaction. This platform empowers users to voice their grievances, particularly regarding online consumer issues. We streamline support by utilizing our team of expert advocates to provide consultancy services and initiate appropriate legal actions.
Our Online Consumer Legal Forum offers comprehensive guidance to individuals and businesses facing consumer complaints. With a dedicated team, round-the-clock support, and efficient complaint management, we are the preferred solution for addressing consumer grievances.
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Pedal to the Court Understanding Your Rights after a Cycling Collision.pdfSunsetWestLegalGroup
The immediate step is an intelligent choice; don’t procrastinate. In the aftermath of the crash, taking care of yourself and taking quick steps can help you protect yourself from significant injuries. Make sure that you have collected the essential data and information.
Safeguarding Against Financial Crime: AML Compliance Regulations DemystifiedPROF. PAUL ALLIEU KAMARA
To ensure the integrity of financial systems and combat illicit financial activities, understanding AML (Anti-Money Laundering) compliance regulations is crucial for financial institutions and businesses. AML compliance regulations are designed to prevent money laundering and the financing of terrorist activities by imposing specific requirements on financial institutions, including customer due diligence, monitoring, and reporting of suspicious activities (GitHub Docs).
Corporate Governance : Scope and Legal Frameworkdevaki57
CORPORATE GOVERNANCE
MEANING
Corporate Governance refers to the way in which companies are governed and to what purpose. It identifies who has power and accountability, and who makes decisions. It is, in essence, a toolkit that enables management and the board to deal more effectively with the challenges of running a company.
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
3. Contents
PAGE
DIVISION ONE : COMPETITION ACT, 2002
1.1 A CHART SHOWING ENFORCEMENT OF PROVISIONS OF
COMPETITION ACT, 2002 FROM DIFFERENT DATES 1.3
1.2 TEXT OF COMPETITION ACT, 2002 AS AMENDED UP TO DATE 1.9
DIVISION TWO : NOTIFICATIONS
2.1 NOTIFICATIONS 2.3
DIVISION THREE : RULES & REGULATIONS
UNDER COMPETITION LAW
3.1 COMPETITION COMMISSION OF INDIA (GENERAL) REGULA-
TIONS, 2009 3.3
3.2 COMPETITION COMMISSION OF INDIA (DETERMINATION
OF COST OF PRODUCTION) REGULATIONS, 2009 3.31
3.3 COMPETITION COMMISSION OF INDIA (RETURN ON MEA-
SURES FOR THE PROMOTION OF COMPETITION ADVOCACY,
AWARENESS AND TRAINING ON COMPETITION ISSUES)
RULES, 2008 3.33
3.4 COMPETITION COMMISSION OF INDIA (LESSER PENALTY)
REGULATIONS, 2009 3.36
3.5 COMPETITION COMMISSION OF INDIA (MANNER OF RECO-
VERY OF MONETARY PENALTY) REGULATIONS, 2011 3.43
3.6 COMPETITION APPELLATE TRIBUNAL (FORM AND FEE FOR
FILING AN APPEAL AND FEE FOR FILING COMPENSATION
APPLICATIONS) RULES, 2009 3.54
3.7 COMPETITION COMMISSION OF INDIA (MEETING FOR
TRANSACTION OF BUSINESS) REGULATIONS, 2009 3.60
3.8 COMPETITION COMMISSION OF INDIA (PROCEDURE FOR
ENGAGEMENT OF EXPERTS AND PROFESSIONALS) REGU-
LATIONS, 2009 3.64
I-5
4. 3.9 COMPETITION COMMISSION OF INDIA (FORM OF ANNUAL
STATEMENT OF ACCOUNTS) RULES, 2009 3.71
3.10 COMPETITION COMMISSION OF INDIA (FORM AND TIME OF
PREPARATION OF ANNUAL REPORT) RULES, 2008 3.90
3.11 COMPETITION APPELLATE TRIBUNAL (TERM OF THE
SELECTION COMMITTEE AND THE MANNER OF SELECTION
OF PANEL OF NAMES) RULES, 2008 3.98
3.12 COMPETITION APPELLATE TRIBUNAL (SALARIES AND
ALLOWANCES AND OTHER TERMS AND CONDITIONS OF
SERVICE OF THE CHAIRPERSON AND OTHER MEMBERS)
RULES, 2009 3.100
3.13 COMPETITION APPELLATE TRIBUNAL (RECRUITMENT,
SALARIES AND OTHER TERMS AND CONDITIONS OF SER-
VICE OF OFFICERS AND OTHER EMPLOYEES) RULES, 2010 3.107
3.14 COMPETITION COMMISSION OF INDIA (TERM OF THE
SELECTION COMMITTEE AND THE MANNER OF SELECTION
OF PANEL OF NAMES) RULES, 2008 3.117
3.15 COMPETITION COMMISSION OF INDIA (SELECTION OF
CHAIRPERSON AND OTHER MEMBERS OF THE COMMIS-
SION) RULES, 2003 3.119
3.16 COMPETITION COMMISSION OF INDIA (SALARY, ALLOW-
ANCES AND OTHER TERMS AND CONDITIONS OF SERVICE
OF CHAIRPERSON AND OTHER MEMBERS) RULES, 2003 3.121
3.17 COMPETITION COMMISSION OF INDIA (DIRECTOR GEN-
ERAL) RECRUITMENT RULES, 2009 3.124
3.18 COMPETITION COMMISSION OF INDIA (OATH OF OFFICE
AND OF SECRECY FOR CHAIRPERSON AND OTHER MEM-
BERS) RULES, 2003 3.127
3.19 COMPETITION COMMISSION OF INDIA (SALARY, ALLOW-
ANCES, OTHER TERMS AND CONDITIONS OF SERVICE OF
THE SECRETARY AND OFFICERS AND OTHER EMPLOYEES
OF THE COMMISSION AND THE NUMBER OF SUCH
OFFICERS AND OTHER EMPLOYEES) RULES, 2009 3.129
3.20 COMPETITION COMMISSION OF INDIA (NUMBER OF ADDI-
TIONAL, JOINT, DEPUTY OR ASSISTANT DIRECTOR-GENE-
RAL, OTHER OFFICERS AND EMPLOYEES, THEIR MANNER
OF APPOINTMENT, QUALIFICATION, SALARY, ALLOWANCES
AND OTHER TERMS AND CONDITIONS OF SERVICE) RULES,
2009 3.156
3.21 COMPETITION COMMISSION OF INDIA (PROCEDURE IN
REGARD TO THE TRANSACTION OF BUSINESS RELATING
TO COMBINATIONS) REGULATIONS, 2011 3.169
PAGE
CONTENTS I-6
5. 3.22 COMPETITION APPELLATE TRIBUNAL (PROCEDURE) REGU-
LATIONS, 2011 3.208
3.23 COMPETITION COMMISSION OF INDIA (COMPETITION
ASSESSMENT OF ECONOMIC LEGISLATIONS AND POLICIES)
GUIDELINES, 2017 3.212
DIVISION FOUR : CONDITIONS OF SERVICE
OF CHAIRPERSON AND MEMBERS OF
TRIBUNALS, APPELLATE TRIBUNALS AND
OTHER AUTHORITIES
4.1 CONDITIONS OF SERVICE OF CHAIRPERSON AND MEM-
BERS OF TRIBUNALS, APPELLATE TRIBUNALS AND OTHER
AUTHORITIES 4.3
I-7 CONTENTS
PAGE
6. SAMPLE CHAPTER
Section 2(t) - In Belaire Owners Association v. DLF Ltd. (2011) 109 SCL 655 = 14 taxmann.com
90 (CCI), DLF was market leader in high end residential accommodation in Gurgaon. It was
market leader in real estate sector in general and in relevant market in particular. It was held
that DLF has dominance in relevant market - followed in Magnolia Flat Owners Association
v. DLF Universal Ltd. (2012) 112 SCL 538 = 19 taxmann.com 278 (CCI). [That way, the scope
can be limited to any extent. Can we say that a shop keeper has dominant position in Lane
No. 3 as that is the only shop in that lane?]
Section 2(u) - Construction is service - In Belaire Owners Association v. DLF Ltd. (2011) 109
SCL 655 = 14 taxmann.com 90 (CCI), it was held that construction of housing is service -
followed in Magnolia Flat Owners Association v. DLF Universal Ltd. (2012) 112 SCL 538 = 19
taxmann.com 278 (CCI).
Selling lottery ticket - Selling of lottery tickets is service - Jupiter Gaming Solutions v.
Government of Goa (2011) 110 SCL 340 = 15 taxmann.com 161 (CCI).
Education is Service - The definition specifically includes education as service. Thus,
education is service and will be covered under the Act. - - In TMA Pai Foundation v. State of
Karnataka 2002 AIR SCW 4957 = AIR 2003 SC 355 = (2002) 8 SCC 481 (SC 11 member
Constitution Bench Majority decision delivered by Hon. B N Kirpal, CJI), it was held that
education has so far not been regarded as a trade or business where profit is the motive. Even
if there is any doubt about whether education is a profession or not, it does appear that
education will fall within the meaning of expression occupation.
Education, accepted as a useful activity, whether for charity or for profit, is an occupation.
Nevertheless, it does not cease to be a service to the society. And even though an occupation,
it cannot be equated to a trade or a business. In short, education is national wealth essential
for the nations progress and prosperity P A Inamdar v. State of Maharashtra AIR 2005 SC
3226 = (2005) 6 SCC 537 (SC 7 member constitution bench).
Education is more a mission and avocation rather than a profession or trade or business -
University of Delhi v. Ram Nath AIR 1963 SC 1873.
CHAPTER II
PROHIBITION OF CERTAIN AGREEMENTS, ABUSE OF DOMINANT
POSITION AND REGULATION OF COMBINATIONS
Prohibition of agreements
10
Anti-competitive agreements.11
3. (1) No enterprise or association of enterprises or person or association of persons
shall enter into any agreement in respect of production, supply, distribution,
storage, acquisition or control of goods or provision of services, which causes or is
likely to cause an appreciable adverse effect on competition within India.
(2) Any agreement entered into in contravention of the provisions contained in sub-
section (1) shall be void.
(3) Any agreement entered into between enterprises or associations of enterprises
or persons or associations of persons or between any person and enterprise or
practice carried on, or decision taken by, any association of enterprises or associa-
tion of persons, including cartels, engaged in identical or similar trade of goods or
provision of services, which—
(a) directly or indirectly determines purchase or sale prices;
10. Enforced with effect from 20-5-2009.
11. For exemptions, see Division Two.
1.21 COMPETITION ACT, 2002 S. 3
7. (b) limits or controls production, supply, markets, technical development, invest-
ment or provision of services;
(c) shares the market or source of production or provision of services by way of
allocation of geographical area of market, or type of goods or services, or
number of customers in the market or any other similar way;
(d) directly or indirectly results in bid rigging or collusive bidding,
shall be presumed to have an appreciable adverse effect on competition:
Provided that nothing contained in this sub-section shall apply to any agreement
entered into by way of joint ventures if such agreement increases efficiency in
production, supply, distribution, storage, acquisition or control of goods or provi-
sion of services.
Explanation.—For the purposes of this sub-section, “bid rigging” means any agree-
ment, between enterprises or persons referred to in sub-section (3) engaged in
identical or similar production or trading of goods or provision of services, which
has the effect of eliminating or reducing competition for bids or adversely affecting
or manipulating the process for bidding;
(4)Anyagreementamongstenterprisesorpersonsatdifferentstagesorlevelsofthe
productionchainindifferentmarkets,inrespectofproduction,supply,distribution,
storage, sale or price of, or trade in goods or provision of services, including—
(a) tie-in arrangement;
(b) exclusive supply agreement;
(c) exclusive distribution agreement;
(d) refusal to deal;
(e) resale price maintenance,
shall be an agreement in contravention of sub-section (1) if such agreement causes
or is likely to cause an appreciable adverse effect on competition in India.
Explanation.—For the purposes of this sub-section,—
(a) “tie-in arrangements” includes any agreement requiring a purchaser of goods,
as a condition of such purchase, to purchase some other goods;
(b) “exclusive supply agreement” includes any agreement restricting in any
manner the purchaser in the course of his trade from acquiring or otherwise
dealing in any goods other than those of the seller or any other person;
(c) “exclusive distribution agreement” includes any agreement to limit, restrict or
withhold the output or supply of any goods or allocate any area or market for
the disposal or sale of the goods;
(d) “refusal to deal” includes any agreement which restricts, or is likely to restrict,
by any method the persons or classes of persons to whom goods are sold or
from whom goods are bought;
(e) “resale price maintenance” includes any agreement to sell goods on condition
that the prices to be charged on the resale by the purchaser shall be the prices
stipulated by the seller unless it is clearly stated that prices lower than those
prices may be charged;
(5) Nothing contained in this section shall restrict—
(i) the right of any person to restrain any infringement of, or to impose reason-
able conditions, as may be necessary for protecting any of his rights which
have been or may be conferred upon him under—
S. 3 COMPETITION ACT, 2002 1.22
8. (a) the Copyright Act, 1957 (14 of 1957);
(b) the Patents Act, 1970 (39 of 1970);
(c) the Trade and Merchandise Marks Act, 1958 (43 of 1958) or the Trade
Marks Act, 1999 (47 of 1999);
(d) theGeographicalIndicationsofGoods(RegistrationandProtection)Act,
1999 (48 of 1999);
(e) the Designs Act, 2000 (16 of 2000);
(f) the Semi-conductor Integrated Circuits Layout-Design Act, 2000 (37 of
2000).
(ii) the right of any person to export goods from India to the extent to which the
agreement relates exclusively to the production, supply, distribution or
control of goods or provision of services for such export.
COMMENTS
Sub-section (2) - Entering into specified agreement itself is not an offense Though the
actions/agreements as specified in sections 3 and 4 are void, no penalty has been provided for
entering into such agreement. Breach of sections 3 and 4 by itself is not punishable under the
Act. Thus, entering into such agreement itself is not an offense. What is made punishable is
disobedience of order passed by CCI and its non-compliance - Kingfisher Airlines Ltd. v. CCI
(2011) 108 SCL 621 = 12 taxmann.com 285 (Bom HC DB).
Sub-section (3) - Restrictions on production, distribution or exhibition of films by non-
members - In Reliance Big Entertainment Ltd. v. Karnataka Film Chamber of Commerce
(2012) 112 SCL 159 = 18 taxmann.com 301 (CCI), the association was indulging in following
- (a) placing restrictions not to deal with non-members (b) imposing restrictions on number
of screens for non-regional films (c) enforcing restrictions by banning films, collective
boycott, withholding share etc. It was held that this resulted in limit on supply and distribution
of films in market. It created barriers to entry into market by non-members. Penalty was
imposed on the association and they were asked to desist from such practices. The order has
been upheld in Motion Pictures Association v. Reliance Big Entertainment P Ltd. (2014) 123
SCL 55 = 35 taxmann.com 237 (CAT).
In Reliance Big Entertainment Ltd. v. Tamil Film Exhibitors Association (2014) 123 SCL 294
= 40 taxmann.com 476 (CCI), the association had issued instructions to its members to ban
one film. It was held that this act is anti-competitive.
In Sajjan Khaitan v. Eastern India Motion Picture Association (EIMPA) (2012) 115 SCL 383 =
25 taxmann.com 275 (CCI), EIMPA and Coordination Committee of various associations of
Cine Artists, workers and Technicians raised objections about telecast of dubbed version of
Hindi serial (Mahabharat) in Bengali and issued instructions to stop its telecast to the TV
channel. It was held that this is anti-competitive practice. Cease and desist orders were issued
the view has been confirmed in CCI v. Coordination Committee of Artists (2017) 5 SCC 17
= 140 SCL 655 = 79 taxmann.com 136 (SC).
In Mrs. Manju Tharad v. Eastern India Motion Picture Association (EIMPA) (2012) 114 SCL 20
= 22 taxmann.com 87 (CCI), the practice of EIMPA restricting its members not to deal with
non-members, making compulsory registration of each film before release in their territory
were held as anti-competitive.
Notsubmittingabid-Makingcollectivedecisionboycottingauctionisviolationofprovisions
of section 3(3)(d) of the Act - Coal India v. Gulf Oil Corpn (2013) 29 taxmann.com 36 (CCI) -
confirmed in Gulf Oil Corporation v. CCI (2013) 34 taxmann.com 153 (CAT).
Collective Bidding - Collusive bidding is also bid rigging - Excel Crop Care v. CCI (2017) 8 SCC
47 = 141 SCL 480 = 81 taxmann.com 173 (SC).
1.23 COMPETITION ACT, 2002 S. 3
9. Sub-section (4) - Agreement between Indian Railways and SAIL for exclusive supply of
rails - In Jindal Steel v. Steel Authority of India Ltd. (2012) 111 SCL 382 = 17 taxmann.com
154 (CCI), Steel Authority of India Ltd. (SAIL) had MOU with Indian Railways (IR) for
exclusive supply of rails on a continuous basis. It was held that generally Buyers choice is not
a competition issue. However, here buyer is in dominant position and hence can raise
competition concerns. However, considering the background, it was held that the agreement
was not anti-competitive and did not lead to foreclosure of market.
Prohibition of abuse of dominant position
12
Abuse of dominant position.
4. 13
[(1) No enterprise or group shall abuse its dominant position.]
(2) There shall be an abuse of dominant position under sub-section (1), if an
enterprise 14
[or a group],—
(a) directly or indirectly, imposes unfair or discriminatory—
(i) condition in purchase or sale of goods or services; or
(ii) price in purchase or sale (including predatory price) of goods or service;
or
Explanation.—For the purposes of this clause, the unfair or discriminatory
condition in purchase or sale of goods or services referred to in sub-clause (i)
and unfair or discriminatory price in purchase or sale of goods (including
predatory price) or service referred to in sub-clause (ii) shall not include such
discriminatory conditions or prices which may be adopted to meet the
competition; or
(b) limits or restricts—
(i) production of goods or provision of services or market therefor; or
(ii) technical or scientific development relating to goods or services to the
prejudice of consumers; or
(c) indulges in practice or practices resulting in denial of market access 14
[in any
manner]; or
(d) makes conclusion of contracts subject to acceptance by other parties of
supplementary obligations which, by their nature or according to commercial
usage, have no connection with the subject of such contracts; or
(e) uses its dominant position in one relevant market to enter into, or protect,
other relevant market.
Explanation.—For the purposes of this section, the expression—
(a) “dominant position” means a position of strength, enjoyed by an enterprise, in
the relevant market, in India, which enables it to—
(i) operate independently of competitive forces prevailing in the relevant
market; or
(ii) affect its competitors or consumers or the relevant market in its favour;
12. Enforced with effect from 20-5-2009.
13. Substituted by the Competition (Amendment) Act, 2007, w.e.f. 20-5-2009. Prior to its substi-
tution, it read as under :
“(1) No enterprise shall abuse its dominant position.”
14. Inserted, ibid.
S. 4 COMPETITION ACT, 2002 1.24
10. (b) “predatory price” means the sale of goods or provision of services, at a price
which is below the cost, as may be determined by regulations, of production
of the goods or provision of services, with a view to reduce competition or
eliminate the competitors.
14a
[(c)“group” shall have the same meaning as assigned to it in clause (b) of the
Explanation to section 5.]
COMMENTS
Sub-section (2) - Resale Price Maintenance - Union not allowing direct negotiations of rates
with truck owners and fixing rates is abuse of dominant position Shivam Enterprises v.
Kiratpur Sahib Truck Operators Coop Transport Society Ltd. (2015) 130 SCL 685 = 55
taxmann.com 481 (CCI).
Pre-payment charges levied by Housing Finance Companies - Pre-payment charges levied
by Housing Finance Companies (if the housing loan is pre-paid before due date), is neither
anti-competitive nor amount to abuse of the dominant position S Malhotra v. Deutsche Post
Bank Finance Ltd. (2011) 106 SCL 62 = 9 taxmann.com 108 (CCI) - similar view in Mohammed
Tariq Sultan v. Hongkong and Shanghai Banking Corporation Ltd. (2012) 111 SCL 157 = 16
taxmann.com 389 (CCI)
Abuse of dominant position by NSE - In MCX Stock Exchange Ltd. v. National Stock
Exchange of India Ltd. (NSE) (2011) 109 SCL 222 = 13 taxmann.com 110 (CCI), NSE had used
its dominant position in non-CD (i.e. other than Currency Derivatives) segment (where NSE
had virtual monopoly) to protect its position in CD (Currency Derivatives) section by cross
subsidising this segment of business from other segments where NSE had virtual monopoly.
It had waived transaction fee and admission fee for memberships in CD market. It was held
by CCI that this is predatory pricing. It was also held that there was clear intention of NSE to
eliminate competitors in relevant market. A penalty of Rs. 55.5 crores (5% of turnover) was
imposed on NSE the order has been confirmed in National Stock Exchange of India Ltd. v.
Competition Commission of India (2014) 128 SCL 236 = 48 taxmann.com 100 (CAT).
AbuseofdominantpositionbyBCCI -InSurinderSinghBarmiv.BoardforControlofCricket
in India (BCCI) (2013) 118 SCL 226 = 31 taxmann.com 61 (CCI), it was held that BCCI used
its dominant position by explicitly agreeing not to sanction any competitive league during
currency of IPL media rights agreement. A penalty of Rs. 52.24 crores (6% of average gross
turnover) was imposed.
One sided agreement is abuse of dominant position - In Belaire Owners Association v. DLF
Ltd. (2011) 109 SCL 655 = 14 taxmann.com 90 (CCI), DLF was market leader in high end
residential accommodation in Gurgaon. It had dominance in relevant market. It was market
leader in real estate sector in general and in relevant market in particular. DLF had entered
into contract with allottees of flats in group housing complex The Belaire. DLF had added
many floors to those announced earlier. Number of apartments were increased by 53%,
without obtaining views of earlier customers. DLF had put one sided unfair conditions with
the allottees who had become captive consumers. DLF was ordered to remove such unfair
conditions in the agreements. Penalty of 7% of turnover (Rs. 630 crores) was imposed on DLF
- followed in Magnolia Flat Owners Association v. DLF Universal Ltd. (2012) 112 SCL 538 =
19 taxmann.com 278 (CCI).
Similarorderaboutabuseofdominantpositionhasbeenpassedin Ashutosh Bhardwajv. DLF
Ltd. (2017) 139 SCL 381 = 77 taxmann.com 292 (CCI).
The decision in case of Belaire Owners Association has been confirmed in DLF Ltd. v. CCI
(2014) 127 SCL 68 = 45 taxmann.com 300 (CAT).
Explanation (a) to sub-section (2) - If the TV programme viewership is not very high, it
cannot be said to be in dominant position and hence complaint against such TV programme
1.25 COMPETITION ACT, 2002 S. 4
14a. Inserted by the Competition (Amendment) Act, 2007, w.e.f. 20-5-2009.
11. (Kaun Banega Crorepati - KBC - in this case) is not maintainable - Anuj Kumar Bhari v. Sony
Entertainment TV (2011) 110 SCL 2 = 14 taxmann.com 170 (Delhi-HC).
In Surinder Bhakoo v. HDFC Bank Ltd. (2011) 110 SCL 17 = 14 taxmann.com 63 (CCI), it was
found that the Bank is not in dominant position in housing finance loan and hence it was held
that the complaint is not maintainable.
In Arshiya Rail Infrastructure Ltd. v. Ministry of Railways (2012) 116 SCL 417 = 27
taxmann.com 25 (CCI), it has been held that in transportation of containers within India,
railways are not having dominant position as major transportation is by road.
Regulation of combinations
15
Combination16
.
5. The acquisition of one or more enterprises by one or more persons or merger or
amalgamation of enterprises shall be a combination of such enterprises and
persons or enterprises, if—
(a) any acquisition where—
(i) the parties to the acquisition, being the acquirer and the enterprise,
whose control, shares, voting rights or assets have been acquired or are
being acquired jointly have,—
(A) either, in India, the assets of the value of more than rupees one
thousand crores or turnover more than rupees three thousand
crores; or
17
[(B) in India or outside India, in aggregate, the assets of the value of
more than five hundred million US dollars, including at least
rupees five hundred crores in India, or turnover more than fifteen
hundred million US dollars, including at least rupees fifteen hun-
dred crores in India; or]
(ii) the group, to which the enterprise whose control, shares, assets or voting
rights have been acquired or are being acquired, would belong after the
acquisition, jointly have or would jointly have,—
(A) either in India, the assets of the value of more than rupees four
thousand crores or turnover more than rupees twelve thousand
crores; or
18
[(B) in India or outside India, in aggregate, the assets of the value of
more than two billion US dollars, including at least rupees five
hundred crores in India, or turnover more than six billion US
dollars,includingatleastrupeesfifteenhundredcroresinIndia;or]
15. Enforced with effect from 1-6-2011.
16. For exemptions, see Division Two.
17. Substituted by the Competition (Amendment) Act, 2007, w.e.f. 1-6-2011. Prior to its substitu-
tion, it read as under :
“(B) in India or outside India, in aggregate, the assets of the value of more than five hundred
million US dollars or turnover more than fifteen hundred million US dollars; or”
18. Substituted, ibid. Prior to its substitution, it read as under :
“(B) in India or outside India, in aggregate, the assets of the value of more than two billion
US dollars or turnover more than six billion US dollars; or”
S. 5 COMPETITION ACT, 2002 1.26
12. (b) acquiring of control by a person over an enterprise when such person has
already direct or indirect control over another enterprise engaged in produc-
tion, distribution or trading of a similar or identical or substitutable goods or
provision of a similar or identical or substitutable service, if—
(i) the enterprise over which control has been acquired along with the
enterprise over which the acquirer already has direct or indirect control
jointly have,—
(A) either in India, the assets of the value of more than rupees one
thousand crores or turnover more than rupees three thousand
crores; or
19
[(B) in India or outside India, in aggregate, the assets of the value of
more than five hundred million US dollars, including at least
rupees five hundred crores in India, or turnover more than fifteen
hundred million US dollars, including at least rupees fifteen hun-
dred crores in India; or]
(ii) the group, to which enterprise whose control has been acquired, or is
being acquired, would belong after the acquisition, jointly have or would
jointly have,—
(A) either in India, the assets of the value of more than rupees four
thousand crores or turnover more than rupees twelve thousand
crores; or
20
[(B) in India or outside India, in aggregate, the assets of the value of
more than two billion US dollars, including at least rupees five
hundred crores in India, or turnover more than six billion US
dollars,includingatleastrupeesfifteenhundredcroresinIndia;or]
(c) any merger or amalgamation in which—
(i) the enterprise remaining after merger or the enterprise created as a
result of the amalgamation, as the case may be, have,—
(A) either in India, the assets of the value of more than rupees one
thousand crores or turnover more than rupees three thousand
crores; or
21
[(B) in India or outside India, in aggregate, the assets of the value of
more than five hundred million US dollars, including at least
rupees five hundred crores in India, or turnover more than fifteen
1.27 COMPETITION ACT, 2002 S. 5
19. Substituted by the Competition (Amendment) Act, 2007, w.e.f. 1-6-2011. Prior to its substitu-
tion, it read as under :
“(B) in India or outside India, in aggregate, the assets of the value of more than five hundred
million US dollars or turnover more than fifteen hundred million US dollars; or”
20. Substituted, ibid. Prior to its substitution, it read as under :
“(B) in India or outside India, in aggregate, the assets of the value of more than two billion
US dollars or turnover more than six billion US dollars; or”
21. Substituted, ibid. Prior to its substitution, it read as under :
“(B) in India or outside India, in aggregate, the assets of the value of more than five hundred
million US dollars or turnover more than fifteen hundred million US dollars; or”
13. hundred million US dollars, including at least rupees fifteen hun-
dred crores in India; or]
(ii) the group, to which the enterprise remaining after the merger or the
enterprise created as a result of the amalgamation, would belong after
the merger or the amalgamation, as the case may be, have or would
have,—
(A) either in India, the assets of the value of more than rupees four
thousand crores or turnover more than rupees twelve thousand
crores; or
22
[(B) in India or outside India, in aggregate, the assets of the value of
more than two billion US dollars, including at least rupees five
hundred crores in India, or turnover more than six billion US
dollars, including at least rupees fifteen hundred crores in India.]
Explanation.—For the purposes of this section,—
(a) “control” includes controlling the affairs or management by—
(i) one or more enterprises, either jointly or singly, over another enterprise
or group;
(ii) one or more groups, either jointly or singly, over another group or
enterprise;
(b) “group” means two or more enterprises which, directly or indirectly, are in a
position to—
(i) exercise twenty-six per cent or more of the voting rights in the other
enterprise; or
(ii) appointmorethanfiftypercentofthemembersoftheboardofdirectors
in the other enterprise; or
(iii) control the management or affairs of the other enterprise;
(c) the value of assets shall be determined by taking the book value of the assets
as shown, in the audited books of account of the enterprise, in the financial
year immediately preceding the financial year in which the date of proposed
merger falls, as reduced by any depreciation, and the value of assets shall
include the brand value, value of goodwill, or value of copyright, patent,
permitted use, collective mark, registered proprietor, registered trade mark,
registered user, homonymous geographical indication, geographical indica-
tions, design or layout-design or similar other commercial rights, if any,
referred to in sub-section (5) of section 3.
23
Regulation of combinations.24
6. (1) No person or enterprise shall enter into a combination which causes or is likely
to cause an appreciable adverse effect on competition within the relevant market
in India and such a combination shall be void.
S. 6 COMPETITION ACT, 2002 1.28
22. Substituted by the Competition (Amendment) Act, 2007, w.e.f. 1-6-2011. Prior to its substitu-
tion, it read as under :
“(B) in India or outside India, the assets of the value of more than two billion US dollars or
turnover more than six billion US dollars.”
23. Enforced with effect from 1-6-2011.
24. For exemptions, see Division Two.
14. (2) Subject to the provisions contained in sub-section (1), any person or enterprise,
who or which proposes to enter into a combination, 25
[shall] give notice to the
Commission, in the form as may be specified, and the fee which may be determined,
by regulations, disclosing the details of the proposed combination, within 26
[thirty]
days of—
(a) approval of the proposal relating to merger or amalgamation, referred to in
clause (c) of section 5 by the board of directors of the enterprises concerned
with such merger or amalgamation, as the case may be;
(b) execution of any agreement or other document for acquisition referred to in
clause (a) of section 5 or acquiring of control referred to in clause (b) of that
section.
27
[(2A) No combination shall come into effect until two hundred and ten days have
passed from the day on which the notice has been given to the Commission under
sub-section (2) or the Commission has passed orders under section 31, whichever
is earlier.]
(3) The Commission shall, after receipt of notice under sub-section (2), deal with
such notice in accordance with the provisions contained in sections 29, 30 and 31.
(4) The provisions of this section shall not apply to share subscription or financing
facility or any acquisition, by a public financial institution, foreign institutional
investor, bank or venture capital fund, pursuant to any covenant of a loan
agreement or investment agreement.
(5) The public financial institution, foreign institutional investor, bank or venture
capital fund, referred to in sub-section (4), shall, within seven days from the date of
the acquisition, file, in the form as may be specified by regulations, with the
Commission the details of the acquisition including the details of control, the
circumstances for exercise of such control and the consequences of default arising
out of such loan agreement or investment agreement, as the case may be.
Explanation.—For the purposes of this section, the expression—
(a) “foreigninstitutionalinvestor”hasthesamemeaningasassignedtoitinclause
(a) of the Explanation to section 115AD of the Income-tax Act, 1961 (43 of
1961);
(b) “venture capital fund” has the same meaning as assigned to it in clause (b) of
the Explanation to clause (23FB) of section 10 of the Income-tax Act, 1961
(43 of 1961).
CHAPTER III
COMPETITION COMMISSION OF INDIA
28
Establishment of Commission.29
7. (1) With effect from such date as the Central Government may, by notification,
appoint, there shall be established, for the purposes of this Act, a Commission to be
called the “Competition Commission of India”.
1.29 COMPETITION ACT, 2002 S. 7
25. Substituted for “may, at his or its option,” by the Competition (Amendment) Act, 2007, w.e.f.
1-6-2011.
26. Substituted for “seven”, ibid.
27. Inserted, ibid.
28. For relevant notifications, see Division Two.
29. Enforced with effect from 19-6-2003.
15. ORDER NOW
COMPETITION
LAWS MANUAL
Rs. 575 | USD 39
Author : TAXMANN
Publisher: TAXMANN
Edition : 8th Edition
ISBN No.: 9788195371488
Date of Publication: July 2021
No. oF Pages: 344
Description:
Taxmann's Competition Law Manual is a compendium of Competition Act, 2013
[amended up to date] along with Relevant Rules Regulations, Circulars, and
Notifications.
What sets this book apart is the unique way of presenting the Annotated, Amended
Updated text of the Competition Act and relevant Rules Regulations mapped with the
relevant Section of the Act.
The Present Publication is the Latest Edition, authored by Taxmann's Editorial Board,
amended up to 5th July 2021. This book is divided into four divisions:
The Competition Act, 2002
Notifications
20+ Rules Regulations issued under the Competition Law
Conditions of Service of Chairperson and Members of Tribunals, Appellate Tribunals
and Other Authorities