Marys Medicine

Lexport.in2



REALISATION OF ACQUIRED STRESSED 1. RBI & FEMA
RBI after reviewing the factors which jeopardize 2. Foreign Trade
3.
Corporate
restructuring efforts of the majority lenders 4. Securities
found that, while the maximum resolution period 5. Competition
permitted to SCs/RCs for realisation of stressed 6. Indirect Taxes
assets acquired by them is 8 years. However, in a. Customs
most cases of restructuring proposals of stressed b. Central Excise
assets, as approved by BIFR / CDR / JLF, the c. Service Tax
repayment period goes beyond a time frame of 8 7. Intellectual Property Rights
8. Consumer
years. This mismatch makes the SCs/RCs, who 9. Environment
are holding a part of the stressed assets, to express their inability to go along with the other RBI/FEMA
lenders beyond 8 years due to the regulatory constraints mentioned above and insist on an exit 1. STATE CO-OPERATIVE BANKS: CRITERIA, at the end of 5 or 8 years. PROCEDURE REVISED, FOR OPENING OF Therefore it has decided to make certain BRANCHES/EXTENSION COUNTERS modifications to the existing Directions as The policy for opening of branches/extension counters/specialized branches within the area of For the purpose of the restructuring proposals operation of the State Co-operative Banks (StCBs) has been reviewed by RBI. And the revised criteria BIFR/CDR/JLF, SC/RCs shall be permitted to accept a resolution period co-terminus with a. CRAR not less than 9 per cent other secured lenders. b. No default in maintenance of CRR/SLR In all such cases, the redemption period of during the preceding financial year Security Receipts (SRs) held against these c. Net NPA being less than 5 per cent assets may be extended to be in congruence d. The bank should have a track record of with the resolution period approved by regulatory compliance and no monetary BIFR/CDR/JLF, subject to the Independent penalty should have been imposed on the Credit Rating Agencies continuing to positively rate these SRs, i.e. as long as the Net directives/guidelines during last two financial Asset Value of the SRs continue to be 02/SCRC/26.03.001/2014-2015, dated 7th
4-15, dated 7th May, 2015]
May, 2015]
3. DEBIT/CREDIT CARDS: ONLY EMV CHIP 2. SECURITISATION AND PIN BASED CARDS INSTEAD OF MAXIMUM RESOLUTION PERIOD FOR As part of its security and risk mitigation measures for present Card and Electronic Payment Transactions,



RBI has advised all banks that with effect from initial consideration and/or redemption of security September 01, 2015 all new cards issued – debit and receipt /pass through certificates) is higher than the credit, domestic and international – by banks shall be NBV of the NPAs sold to SCs/RCs. Further, the EMV chip and pin based cards instead of Magnetic quantum of excess provision reversed to profit and loss account will be limited to the extent of which No.2112/02.14.003/2014-15, dated 7th May, 2015]
cash exceeds the NBV of the NPAs sold. The quantum of excess provision reversed to the Profit and Loss account on account of sale of NPAs shall 4. NEW MECHANISM FOR DEALING WITH be disclosed in the financial statements of the bank LOAN FRAUDS: „RED FLAGGED ACCOUNT‟ Noting the increased incidence of loan frauds, RBI 15, dated 14th May, 2015]
has issued a framework for banks to help them in the prevention, early detection and reporting of such 6. FCNR (B) SCHEME: CLARIFICATIONS ISSUED frauds. As part of the framework, RBI has introduced Banks‟ insistence on physical presence of the a concept called Red Flagged Account (RFA), which account holder for Submission of A2 form at the are accounts where the suspicion of fraudulent activity time of closure of FCNR (B) deposits and is thrown up by the presence of one or more early subsequent remittance of funds, has now been warning signals(EWS). These signals in a loan account should immediately put the bank on alert regarding a done away with by RBI. It has been now clarified weakness or wrong doing which may ultimately turn that A2 form is to be filed at the time of purchase out to be fraudulent. No restructuring or grant of of foreign exchange using rupee funds and hence additional facilities may be made in the case of RFA will not be required while remitting FCNR (B) or fraud accounts. Complete framework for fraud risk funds. Further, banks, with the help of management in banks can be read as part of this technology, will have to devise better alternatives/ methods for ensuring bonafides of dated 7th May, 2015]
the transaction rather than insisting on physical presence of the account holder, in order to ensure hassle free remittance of funds to the BANKS: PERMITTED TO REVERSE TO P&L ACCOUNT THE EXCESS PROVISION WHEN - [A.P. (DIR Series) Circular No. 98, dated 14th
THE SALE IS FOR A VALUE HIGHER THAN May, 2015]
THE NBV ON SALE OF NPAS Earlier the stipulation was that, if the sale is for a value higher than the Net Book Value (NBV), the excess provision will not be reversed, but it would be utilised to meet the shortfall/loss on account of sale /SOFTWARE IN SDF of other financial assets. But now it has been decided Earlier every exporter of goods or software had to by RBI to permit Multi-State Urban Cooperative declare the same in one of the forms stated therein. Banks to reverse to P&L account the excess But now, RBI, in order to further liberalise and provision when the sale is for a value higher than the simplify the procedure, it has decided to dispense NBV on sale of NPAs to their profit and loss with the requirement of declaring the export of account, only when the cash received (by way of Goods /Software in the SDF in case of exports



taking place through the EDI ports, as the mandatory under RDA provided that they are satisfied with the statutory requirements contained in the SDF have bonafide of the transaction. Banks have further been been subsumed in the Shipping Bill format. - [A.P.
asked to ensure the remittances received under RDA (DIR Series) Circular No.101, dated 14th May,
are from FATF compliant countries and KYC/AML/CFT and other due diligence concerns should be taken care of. - [A. P. (DIR Series)
8. RBI EASES NORMS FOR INFRASTRUCTURE Circular No. 102, dated 21st May 2015]
RBI has amended the 2011 guidelines which allowed 11. NBFCS CAN REFER TO PRICE ON BOURSES NBFCs to sponsor IDFs which are to be set up as FOR LENDING AGAINST GOLD NBFCs. On a review it has been decided to allow RBI has allowed NBFCs to use the historical spot entry of IDF-NBFCs into sectors where there is no gold price data publicly disseminated by a presence of a Project Authority. consequently, the commodity exchange regulated by the Forward directions in 2011 guidelines have also been Markets Commission to determine the value of the metal for purpose of advancing loans against it. CC.No.035/03.10.001/2014-15, dated 14th May,
Currently, the valuation of gold jewellery for arriving at the loan-to-value (LTV) is be done at the average of the closing price of 22 carat gold for the 9. REQUIREMENT OF PIN FOR CONTACTLESS preceding 30 days as quoted by the Bombay Bullion CARD PAYMENTS UP TO RS. 2,000, RELAXED RBI has decided to relax the extant instructions relating to the need for additional factor of 21st May, 2015]
authentication (AFA) requirements for small value card present transactions only using contact-less cards 12. SECURITISATION for transactions for a maximum value of Rs. 2,000 per transaction. The limit of Rs. 2,000 per transaction will EXTENSION OF TIME-FRAME TO SPREAD be the limit set across all categories of merchants OVER THE SHORTFALL ARISING OUT OF where contactless payments will be accepted. Further, SALE OF BAD ASSETS TO AT A PRICE beyond this transaction limit, the card has to be BELOW THE NET BOOK VALUE processed as a contact payment and authentication As an incentive for early sale of NPAs, RBI has allowed the banks to spread over any shortfall, if the sale value is lower than the net book value (NBV), dated 14th May, 2015]
over a period of two years. It has been decided to extend this dispensation for assets sold on or after 10. TRADE RELATED REMITTANCE LIMIT March 31, 2015 and up to March 31, 2016. - INCREASED, UNDER RUPEE DRAWING 21st May, 2015]
RBI after a review of the permitted transactions under the Rupee Drawing Arrangements (RDAs), has AGRI-COMMODITIES: decided to increase the limit of trade transactions BANKS TO DIRECTED TO CREATE from the existing Rs. 5,00,000/- per transaction to Rs. 15,00,000/- per transaction, with immediate effect. RBI has advised that banks should encourage hedging Further, it has been decided to permit AD banks to by the agri-borrowers by creating awareness amongst regularise payments exceeding the prescribed limit them regarding the utility and benefits of hedging



through agri-commodity derivatives. This would help Pre-import condition shall be mandatory for import to develop strong risk management capabilities to of "raw sugar" under Advance Authorisation manage agri-commodity price risk. At the same time, scheme. Export obligation period for "raw sugar banks to keep the sophistication, understanding, scale "imported under Advance Authorisation has been of operation and requirements of their agri-borrowers in mind while advising on the availability and use of reduced to six months from the date of clearance of these instruments. To begin with, banks were asked to encourage large agricultural borrowers such as [PublicNotice No. 08/2015-2020, dated 1st May,
agricultural commodity processors, traders, millers 2015, (DGFT)]
and aggregators to hedge their commodity price risk. The hedging can be through agri-commodity 4) ALLOCATION OF QUANTITY FOR EXPORT derivative products available on recognised exchanges in India. - [DBR.No.BP.BC.96 /21.04.157/2014-15,
OF SUGAR TO EU UNDER CXL QUOTA AND dated 28th May, 2015]
TO USA UNDER TARIFF RATE QUOTA: The quantity of sugar to be exported to EU under CXL Quota and to USA under TRQ upto 30.09.2015 has been notified. [Public Notice No.
09/2015-2020, dated 1st May, 2015 (DGFT)]

FOREIGN TRADE
1) WITHDRAWAL OF DUTY FREE IMPORT PROCEDURE FOR EXPORT OF CERTIFIED AUTHORIZATION (DFIA) SCHEME FOR ORGANIC PRODUCTS: NOTIFIED VIDE IMPORT OF RAW SUGAR PUBLIC NOTICE NO. 73 (RE-2013)/2009-14 Import of "raw sugar" under Duty Free Import DATED 18.11.2014 it has been notified that: Authorisation (DFIA) scheme is withdrawn with (i) a product will be allowed to be exported as immediate effect. [Notification No 05/ 2015-2020,
"Organic Product" only when accompanied by a dated 1st May, 2015, (DGFT)]
Transaction Certificate issued by a Certification Body accredited by National Accreditation Body 2) AMENDMENT IN PARA 2.7 (A)(IV) OF (NAB) for Organic Products under the National HANDBOOK OF PROCEDURES Programme for Organic Production of the For border trade between India and China, the CIF Department of Commerce value per consignment has now been increased from (ii) "Organic Products" for export will be so certified Rs.1,00,000/- to Rs.2,00,000/- in case of Nathula, only if Produced, Processed and Packed as per the while for Gunji and NamgayaShipkila, the existing standards laid down in the document "National CIF value limit of Rs.25,000/- has been enhanced to Programme for Organic Production (NPOP)", Rs.1,00,000. [Public Notice No. 07/2015-2020,
available on the website of APEDA . [Public
dated 1st may, 2015, (DGFT)]
Notice No. 10/2015-2020, dated 5th May, 2015,
3) EXPORT OBLIGATION PERIOD UNDER ADVANCE AUTHORIZATION, AMENDED 5) AMENDMENT IN PUBLIC NOTICE NO.42 [Notification No 07/ 2015-2020, dated 20th May,
(RE-2013)/2009-2014 2015, (DGFT)]
RELATING TO EXPORT OF VALUE ADDED PRODUCTS OF RED SANDERS WOOD BY 7) MODIFICATION OF TRACK AND TRACE GOVERNMENT OF ANDHRA PRADESH With this amendment time upto 30.04.2016 has been prescribed for export of 1998.5917 MTs value added The procedure for implementation of the Track and products of Red Sanders wood by Government of Trace system for export of drug formulations has Andhra Pradesh, permitted vide Public Notice No. been modified. [Public Notice No. 13/2015-2020,
42 (RE-2013)/2009-2014 dated 03.12.2013. [Public
dated 22nd May, 2015, (DGFT)]
Notice No. 11/2015-2020, dated 6th May, 2015,
8) UPDATION OF IMPORTER EXPORTER 6) HANDBOOK OF PROCEDURES OF FTP 2015- Now a facility has been provided to importer/ 20: AMENDMENT TO PARA 2.55 AND 2.56 exporter to upload his basic details and documents REGARDING ISSUE OF PRE SHIPMENT in the Importer-Exporter Profile. Once uploaded on INSPECTION CERTIFICATES the Importer-Exporter Profile, the importer/ With these amendments now the revised procedure exporter will not be required to submit these will have to be followed by Pre-shipment Inspection documents each time he/she/it applies for Agencies (PSIAs) for issue of Pre-Shipment authorisations/scrips under different schemes of the Inspection Certificates (PSICs), with effect from FTP. Importers/Exporters may update their 01.07.2015, has been notified; (ii) To facilitate Importer Exporter Profile by 15th June, 2015 by transitional arrangements, till 30.06.2015, the PSIAs logging into the DGFT website (http://dgft.gov.in/) have been allowed to issue Pre-Shipment Inspection and clicking on the icon "IEC Profile Updation" and certificates ( PSICs) as per procedure laid down in updating the requisite information with their digital para 2.32.2A and 2.32.2B of Handbook of Procedure signature. [Trade Notice No.02/2015, dated 26th
Vol. I 2009-14, in the format prescribed in Appendix May, 2015, (DGFT)]
5-B of Handbook of Procedures Vol. I, 2009-14; (iii) Procedure for application by the existing PSIAs as well as new applicants for recognition/extension of area of operation etc. has been notified. [Public CORPORATE
Notice No. 12/2015-2020, dated 18th May, 2015] 1) COMPANIES (AMENDMENT) ACT 2015 FUEL IMPORT POLICY FOR SHIP BREAKING : PASSED BY PARLIAMENT AMENDED Import of High Speed Diesel (HSD) Companies (Amendment) Bill recently passed by and Light diesel oil (LDO), brought on board in the Parliament is notified. It introduces amendments in old ships / vessels for purpose of breaking, and which relation to Related Party Transactions, fraud are incidental to such ships / vessels, is "free". reporting by auditors, making common seal optional, and jurisdiction of special courts to try certain COMPETITION
offences etc. [Ministry of Corporate Affairs, dated
25th May, 2015]
1) CCI FOUND DLF GUILTY OF INDULGING IN UNFIAR AND ABUSIVE BUSINESS PRACTICE IN SALE OF APRATMENTS IN A GUGAON DEBENTURES) SECOND AMENDMENT RULE CCI has ordered DLF Gurgaon Home Developers Amendment has been made to rule 5 in sub-rule (3) Private Limited and its group companies to cease and which deals with company‟s common seal. It provides desist from such unfair trade practices, but did not that in case the company does not have common seal, impose any fresh monetary penalty as Rs 630 crore the share certificate shall be signed by two directors or fine has already been slapped on DLF for similar by a director and company secretary, wherever he is violation during the same period in a separate case. appointed. And in case of one person company every Commission held that a cursory glance at the terms share certificate shall be issued under the seal which and conditions of the Buyer„s Agreement showed how shall be affixed in the presence of and signed by one heavily loaded the Buyers„ Agreement is in favour of director or person authorized by Board of Directors the Builder (DLF) and against the buyer. The and Company Secretary. Where the one person impunity with which these clauses have been imposed, company does not have common seal, the share the total disregard to consumer right that has been certificate shall be signed by the person in the displayed in its action of cancelling allotments and presence of whom the seal is required to be affixed. forfeiting deposits and the deliberate strategy of [Ministry of Corporate Affairs, dated 29th May]
obfuscating the terms and keeping buyers in the dark about the eventual shape, size, location etc. of the 3) COMPANIES (DECLARATION AND PAYMENT apartment cannot be termed as fair. OF DIVIDEND) RULES, 2014 [Pankaj Aggarwal &Ors. v. DLF Gurgaon Home
Rule 3, sub-rule (5) which deals with declaration of Developers Private Limited., dated 12th may, 2015,
dividend out of reserves and reads as follows has been "No company shall declare dividend unless carried over previous losses and depreciation not provided in previous year are set off against profit of the company SECURITIES
of the current year the loss or depreciation, whichever is less, in previous years is set off against the profit of 1) SEBI (PROHIBITION OF INSIDER TRADING) the company for the year for which dividend is REGULATIONS 2015: FURTHER DISCLOSURES declared or paid". [Ministry of Corporate Affairs,
dated 29th May, 2015]
Companies have now been mandated under regulation 8 (code of fair disclosure) and 9 (code of conduct) of SEBI regulation, to ensure: (i) Formulated and published (on its official website), code of practices and procedures for fair disclosure of Unpublished Price Sensitive Information (UPSI), is confirmed to the stock exchanges, immediately; (ii) Formulated code of conduct is confirmed to the stock exchanges, immediately; INDIRCT TAXES
(iii) a company deals with only such market intermediary / every other person, who is required to handle UPSI, who have formulated a code of conduct as per the requirements of the Regulations. [CIR/ISD/01/2015, dated 11th May, 2015, (SEBI)]
1. EXEMPTION FOR IMPORT OF NATURAL Exemption Notification No. 12/2012 – Customs, dated 17th March, 2012 amended so as to include LOCATION/PROXIMITY HOSTING FACILITY a new item 139B. This covers liquefied natural Stock Exchanges have offered the facility of co- gas (LNG) and natural gas (NG) imported by location or proximity hosting whereby trading or data- GAIL for supply to a generating company for vending systems are allowed to be located within or at generation of electrical energy. -[Notification
close proximity to the premises of the stock No. 31/2015 - Customs, dated 7th May, 2015]
exchanges, and are allowed to connect to the trading platform of stock exchanges through direct and private network. [CIR/MRD/DP/07/2015, dated
CONDITIONS FOR EOU 13th May, 2015, (SEBI)]
Notification No. 52/2003-Customs, dated the 31st March, 2003 which exempts import duties on goods imported for use in an EOU, subject to various end-use conditions, have now been 3) ACTIVITY SCHEDULE OF SETTLEMENT OF amended in the following respects: AUCTION SESSION BY T+2 DAYS AND FOR The condition relating to time-limit for PAY-IN/PAY-OUT OF AUCTION AND CLOSE installation / use has been modified to OUT BY T+3 DAYS. provide that capital goods must be As per extant practice in Equity Cash segment in case installed, or other goods used, within the validity period of the Letter of Permission of default by the selling broker in a normal settlement, the security delivered short is bought in the auction The presence of an officer of the session (conducted on T+2 day) and is delivered to department to supervise destruction of the buying broker on T+3 day. In order to facilitate rejects, waste or scrap has been dispensed the reduction of time involved in delivering the shares with and now destruction can be done in to the buying broker, in case of default by selling the unit with intimation to the customs authorities, and outside the unit with the broker, it has been decided to provide flexibility to permission of the customs authorities. - Clearing Corporations to decide the time for [Notification No. 34/2015 - Customs,
conducting the settlement of Auction session on or dated 25th May, 2015]
before T+3 day. [CIR/MRD/DRMNP/8/2015,
dated 14th May, 2015, (SEBI)]
3. DECLARATION ON SHIPPING BILL SUBSTITUTED FOR SDF FORM 6. ADD ON IMPORT OF SODIUM CITRATE: The requirement of attaching SDF form with shipping bill in case of export taking place Levy of anti-dumping duty on imports of Sodium through the EDI ports has now been dispensed Citrate, falling under the CTH 2918 15 20 of with.Provided a specified declaration (as provided CTA, originating in or exported from the in the notification) for receipt of export proceeds People‟s Republic of China has been extended is made in the shipping bill itself. The change for a period of five years from 20 May, 2015. - [Notification No. 19/2015 - Customs (ADD),
[Notification No. 46/2015 - Customs (N.T.),
dated 20th May, 2015]
dated 18th May, 2015 & Circular No. 15/2015
- Customs, dated 18th May, 2015]
PENTAERYTHRITOL: LEVY EXTENDED 4. IMPORT, TRADING & RE-EXPORT OF ROUGH DIAMONDS: PROCEDURE LAID Levy of anti-dumping duty on imports of Pentaerythritol' , falling under Chapter 29 of the Procedure has been laid down by which rough First Schedule to CTA, originating in, or exported diamonds can now be imported for viewing. And from Russia has been extended for a period of potential sale, and customs duty will be payable five years. - [Notification No. 20/2015 -
only on the sold lots. Unsold lots will have to be Customs (ADD), dated 22nd May, 2015]
re-exported within 75 days of import. The list of companies allowed to send diamonds to India in 8. ADD ON IMPORT OF CAST ALUMINIUM this manner is as per Circular no. 116 dated 1 ALLOY WHEELS OR ALLOY ROAD April 2014, and the eligibility to enter the WHEELS: LEVY EXTENDED controlled area for viewing will be defined by the Levy of anti-dumping duty on imports of Cast Gems & Jewellery Export Promotion Council. Aluminium Alloy Wheels or Alloy Road Wheels The custodian of the goods under the Customs used in Motor Vehicles, whether or not attached Act will be Bharat Diamond Bourse. - [Circular
with their accessories, of sizes in diameters No. 17/2015 - Customs, dated 26th May,
ranging from 12 inches to 24 inches, falling under chapter 87 of CTA, originating in or exported from the People‟s Republic of China, Korea RP and Thailand has been extended for a period of 5. ADD ON IMPORT OF MORPHOLINE: five years from 11 April, 2014. - [Notification
No. 21/2015 - Customs (ADD), dated 22nd
Levy of anti-dumping duty on imports of May, 2015]
Morpholine, has been extended which falls under the CTH 2933 39 17 of CTA, originating in or 9. ADD ON IMPORT OF USB FLASH DRIVES: exported from the People‟s Republic of China, European Union and the United States of Levy of anti-dumping duty on imports of USB America, up to 19 September, 2016. - Flash Drives, falling under chapter 84 and 85 of [Notification No. 18/2015 - Customs (ADD),
CTA, originating in or exported from the dated 18th May, 2015]
People‟s Republic of China and Chinese Taipei has been extended for a period of five years from 22 May, 2015. - [Notification No. 22/2015 -
facilities may be permitted for sharing Customs (ADD), dated 22nd May, 2015]
fast-track debonding is allowed in cases where no duty-free procurement or TEREPHTHALIC ACID: LEVY EXTENDED import has taken place. - [Notification
Levy of anti-dumping duty on imports of Purified No.28/2015 - Central Excise, dated
Terephthalic Acid, originating in or exported 15th May, 2015]
from Korea RP and Thailand has been extended for a period of five years from 25th July, 2014. - 1. WITHDRAWAL OF EXEMPTION FROM [Notification No. 23/2015 - Customs (ADD),
ADDITIONAL DUTY FOR SWEETENED dated 27th May, 2015]
MINERAL OR AERATED WATERS Serial no. 1A which was inserted into notification 11. ADD ON IMPORT OF ELECTRONIC 6/2005-CE with effect from 1 March 2015 to CALCULATORS: LEVY EXTENDED exempt additional duty of excise on "waters, Levy of anti-dumping duty on imports of including mineral waters and aerated waters, 'Electronic Calculators of all types [excluding containing added sugar or other sweetening calculators with attached printers, commonly matter or flavoured, has been omitted. - referred to as printing calculators; calculators with [Notification No.29/2015 - Central Excise,
ability to plot charts and graphs, commonly dated 22nd May, 2015]
referred to as graphing calculators; programmable calculators]', originating in, or exported from, People's Republic of China has been extended for CONDITIONS FOR DOMESTIC SOURCING a period of five years. - [Notification No.
24/2015 - Customs (ADD), dated 29th May,
Notification 22/2003-CE which exempts excise duty on specified categories of goods when supplied to an EOU, has been amended in the following respects: The condition relating to time-limit for b. CENTRAL EXCISE installation / use has been modified to provide that capital goods must be PRINCIPAL NOTIFICATION NO. 22/2003 & installed, or other goods used, within the 23/2003-CENTRAL EXCISE: AMENDED IN validity period of the Letter of Permission LINE WITH NEW FOREIGN TRADE The presence of an officer of the In line with changes in the Foreign Trade Policy, department to supervise destruction of principal Notification No. 22/2003 & 23/2003- rejects, waste or scrap has been dispensed Central Excise have been further amended. Now- with: now destruction can be done in the goods supplied by an EOU to another unit with intimation to the customs EOU may be rejected and returned authorities, and outside the unit with the without payment of duty; permission of the customs authorities. - a group of EOUs may source goods [Notification No.30/2015 - Central
centrally and be permitted to transfer the Excise, dated 25th May, 2015]
goods within the group; infrastructural 3. CENVAT CREDIT RULES, 2004 AMENDED Rule 6 of the CENVAT Credit Rules 2004 has Department was seeking to recover the amount been amended in order to increase the amount of paid by virtue of Section 154 of the Act of 2003 reversal of credit required under Rule 6(3)(i) in which was enacted retrospectively. Further, no the case of common inputs / input services used doubt, the effect of the said amendment for exempted and dutiable / taxable supply, from retrospectively was to take away the benefit 6% to 7%. The change comes into effect from 1 which was granted earlier. However, the question June 2014. - [Notification No.14/2015 -
is whether before passing such an order of Central Excise (N.T.), dated 19th May, 2015]
recovery, whether it was necessary to comply with the requirement of show-cause notice? Thus 4. PRODUCT IN QUESTION CLASSIFIABLE its held that Section 11A of the Excise Act was UNDER CHAPTER 49 AND EXCLUDED applicable, which requires this procedure to be FROM CHAPTER 48 WHEN NOT LIABLE followed. Even if that provision is not applicable, it is fundamental that before taking any adverse action against a person, requirement of principles manufactured by appellant in their printing press of natural justice is to be fulfilled. It is also trite are mostly of various printed forms and not that when a statute is silent, with no positive registers, books and pads therefore looking to the words in the Act or Rules spelling out need to nature of the product being manufactured by the hear the party whose rights or interests are likely appellant it is found that same are not classifiable to be affected, requirement to follow fair under chapter 48, all the forms are printed with procedure before taking a decision must be read very detailed information and only some blank into statute, unless the statute provides otherwise. column are printed for filling up by manuscript - [M/s DharampalSatyapal Ltd v. Deputy
or typescript therefore the product of appellant is Commissioner Of Central Excise, Gauhati
classifiable under chapter 49. Thus it has held And Ors, dated 14th May, 2015 (Supreme
that goods being printed with name and details of Court of India)]
Central Railway are not capable of being bought and sold for consideration hence the same are not marketable goods. Product in question are not dutiable on both counts of classification as well as marketability. - [Deputy Chief Manager,
1. DEFINITION OF „CHIT‟ OMITTED FROM (Printing & Stationery), Central Railway v.
ABATEMENT NOTIFICATION CCE, Mumbai, dated 6th May, 2015
The definition of „chit‟, which had remained in (CESTAT)]
the notification 26/2012-ST even after the removal of „chit‟ from the abatement scheme, has 5. RECOVERY PROCEEDINGS CANNOT BE now been deleted. - [Notification No.13/2015 -
Service Tax, dated 19th May, 2015]
NOTICE UNDER SECTION 11A OF THE EXCISE ACT: SUPREME COURT In this case the issue before Hon‟ble SC was: 2. CHANGES IN FINANCE ACT TO BE Whether recovery proceedings can be initiated EFFECTIVE FROM 1 JUNE 2015 without show-cause notice under Section 11A of Certain changes proposed in the Finance Bill the Excise Act, which is mandatory? 2015 were to be effective from a date to be Answering this question in negative Hon‟ble notified after its enactment and assent of the court has observed that no doubt, the President. 1st June 2015 has now been notified as the date from which these changes will be is making information available for retrieval. effective. This includes increase in service tax rate Service rendered falls under the category of to 14%, some changes in the negative list, and in Online information & Database access or the definitions clause in the Finance Act 1994. - retrieval service and hence rejected the appeal. - [Notification No.14/2015 - Service Tax, dated
[Photolibrary India Pvt Ltd v. CST, Mumbai,
19th May, 2015]
dated 1st May, 2015 (CESTAT)]
3. "ACTIVITY OF CONVERSION OF BLACK BARS INTO BRIGHT BARS & CLEARANCE OF SAME AS MANUFACTURED PRODUCT INTELLECTUAL PROPERTY RIGHTS
MANUFACTURED WHEN APPELLANT UNDERTAKES JOBWORKING FOR SOME 1. USE OF MARK 'GENTAC' AMOUNTS TO OTHER CLIENTS": CESTAT PASSING OFF AND INFRINGEMENT OF THE CESTAT has held that the activity of conversion PLAINTIFFS' TRADEMARKS 'ZANTAC' AND of black bars into bright bars on own account 'ZINETAC': Delhi HC and clearance of the same on payment of CE In this case permanent injunction was sought against duty by treating as manufactured product cannot infringement of the trademarks 'ZANTAC' and become a non-manufactured product when the 'ZINETAC' and their passing-off by the defendants. appellant undertakes jobworking for some other Plaintiff No.1 who was the owner of the trademarks clients so as to be held as liable to ST under BAS. 'ZINETAC' and 'ZANTAC', associated with - [Vidarbha Grinders (P) Ltd v. CCE,
medicinal preparation, and it contains 'Ranitidine Nagpur, dated 5th May, 2015 (CESTAT)]
Hydrochloride' which are used in the treatment of gastric ailments. On such factual matrix Hon‟ble 4. "IF CLIENT CAN DOWNLOAD IMAGES Court held that the defendants' action to use the mark 'GENTAC' would amount to passing off and APPELLANT FOR THE PURPOSE OF infringement of the plaintiffs' trademarks. Apart from PLACING IN AN ADVERTISEMENT THEN the packaging of GENTAC being similar to that of SERVICE RENDERED FALLS UNDER THE the plaintiffs' medicinal products, 'GENTAC' is CATEGORY OF ONLINE INFORMATION phonetically similar to that of the plaintiffs' medicinal & DATABASE ACCESS OR RETRIEVAL products. - [Glaxo Group Ltd. &Anr. vs S.D. Garg
SERVICE": CESTAT & Ors., dated 12th May, 2015 (Delhi HC)]
In this case the appellants had website where a number of photographs are available for a viewer 2. MARKS 'KVS' AND 'KYS' ARE DECEPTIVELY to see and choose from the same after browsing. The viewer was being allowed to view In the instant case the Plaintiff and Defendant photographs free of cost. However, he can engaged in the same business. The plaintiff had a download the data only after he enters into an reputed reputation and had generated a large agreement with the appellant and pay the amount goodwill in his business under the trade name and as quoted by the appellant. Therefore under the label 'KVS' and 'KVS (Label)'. The defendant had facts it was held that issue of copyright on the adopted the trademark/label 'KYS' and 'KYS (Label)' said images is merely incidental and main activity in respect of the same category goods. In view of such factual position the Hon‟ble Court passed a INVESTED WITHOUT THE CONSENT OF decree of permanent injunction in favour of the PETITIONER: NCDRC plaintiff and against the defendant restraining the In this case Complainants‟ son availed a loan of Rs. defendant, its directors, proprietors, partners, agents, servants, assigns, representatives, successors and 72,000/- from SBI, the second Opposite Party, distributors from using, selling, exporting, offering under the Prime Minister RozgarYojna Scheme for sale, advertising or displaying directly or indirectly („PMRY Scheme‟) on 4.9.2002. As security for the or dealing in any other manner under the impugned said loan, the Bank took two FDRs bearing Nos. trademark 'KYS' and 'KYS (Label)' or any other mark 439812 and 439813 dated 1.5.2002, amounting to which is identically or deceptively similar to the Rs.40,000/- each from the Complainants. A receipt trademark/label of the plaintiff. - [Kashi
Vishwanath Steels Ltd v. M/S Kys Manufacturer
for having taken the two FDRs as security was also and Exporter, dated 20th May, 2015 (Delhi HC)]
issued by SBI. Thereafter, the Complainants‟ son realised that no security is required to be taken by the Bank under the „PMRY‟ loan scheme and therefore, he requested the Bank officials to return the two FDRs. Inspite of repeated requests, only CONSUMER
one FDR was returned. SBI re-invested the FDR on 1) NCDCRC ASKS INSURANCE FIRM TO PAY its maturity. In this factual situation NCDRC has RS.50 LAKH TO PILOT held that the petitioners had to run from pillar to In this case NCDRC has held that insurer has a duty post to ascertain the position of their Fixed to disclose and similarly, it is the duty of the insurance Deposits. It is pertinent to note that consent cannot company and its agents to disclose material facts in be implied but should be explicitly stated in a
their knowledge since obligation of 'good faith' applies written form. [Jagdish Chand Sharma v. Punjab
to both, equally. According to complainant he had National Bank, dated 13th May, 2015, (NCDRC)]
applied for an insurance policy from the firm and paid premium in favour of the firm which was encashed by it. He submitted that that policy was never furnished to him and the Exclusion Clauses were never ENVIRONMENT
disclosed to him. Exclusion Clause was neither disclosed by the insurer nor made part of the insurance contract. In absence of communication of 1. SC REFUSES TO STAY NGT RESTRICTIONS the Exclusion Clause to the insured, the insurer could ON TOURIST VEHICLES PLYING THROUGH ROHTANG PASS not claim the benefit of that clause. [Capt. A.K.
Supreme Court has refused to stay NGT order Singh v. New India Assurance Co. Ltd., dated 11th
limiting the number of tourist vehicles passing May, 2015, (NCDRC)]
through Rohatang Pass to 1,000 per day. The bench asked the tourist operator association to approach the 2) DAMAGES AND RATE OF INTEREST NGT for modification of order. - [The Times of
ENHANCED ON THE AMOUNT TO BE India, dated 26th May, 2015]
RETURNED BY THE BANK WHICH WAS RE- 2. GREEN TRIBUNAL BANS ALL ILLEGAL SLAUGHTERHOUSES IN UTTAR PRADESH NGT has imposed a ban on all illegal slaughter houses in Uttar Pradesh and directed state authorities Disclaimer: The information contained in this Newsletter is for general
to ensure there is proper regulation of meat shops. purposes only and LEXport is not, by means of this newsletter, rendering Held that the slaughter houses which do not have accounting, business, financial investment, legal, tax, or other professional advice or permission from UP Pollution Control Board services. This material is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. (UPPCB) and/or environmental clearance from State Further, before making any decision or taking any action that may affect your Level Environment Impact Assessment Authority business, you should consult a qualified professional advisor. LEXport shal not be (SEIAA) besides permissions from local authorities responsible for any loss sustained by any person who relies on this newsletter. will not be allowed to operate either in open or As used in this document, "LEXport" means LEXport - Advocates and Legal shops. - [Business Standard, dated 12th May,
Please see www.lexport.in/about-firm.aspx for a detailed description about the LEXport and services being offered by it. 3. RS.5,000 FINE FOR DUMPING WASTE INTO DRAINS In January, 2015, the Tribunal had announced the fine on dumping of waste in Yamuna. Now the NGT has extended the overview of its earlier order by announcing a fine of Rs.5,000 even on those found dumping waste in drains, which ultimately lead to Yamuna. - [The Hindu, dated 9th May, 2015]
4. HARYANA GOVERNMENT BANS FARMERS FROM BURNING WHEAT STUBBLE In a step towards preventing air pollution in the state, the Haryana government issued an advisory to farmers stating that burning of wheat stubble would
amount to prosecution. - [The Economic Times,
dated 6th May, 2015]

Source: http://lexport.in/Newsletter/NewsLetterNews1034.pdf

healthandhospital.co.nz

January - February 2016 Information New $72m Outpatients facility for Christchurch Bariatric Management Innovation (BMI) initiative and news from around the nation Information for readers, subscribers and advertisersYou'll notice some changes to New Zealand Health & Hospital during 2016. These changes have been introduced to provide you with content that is more accessible and timely. Plus there is now no charge for you to download your copies of New Zealand Health and Hospital from www.healthandhospital.co.nz

Envenenamiento hormonal negligencial

¿Reemplazo Hormonal? Diga ¡No Gracias! 1 Lógica de Sistemas y Autopoiesis Donnato de la O. Consultor Holonómico Envenenamiento Hormonal Negligencial • Salud; El mejor afrodisíaco Entre las diferencias que distinguen a los individuos de los dos sexos está el hecho de que, mientras el varón lanza su mente al aire y se entretiene con las cosas "importantes"; la brega, la conquista, los ideales, los descubrimientos y, a lo que finalmente todo esto conlleva, el esquilme de fortunas, la mujer se mantiene más aterrizada en el día con día, haciendo posible que las "triviali- dades" ordinarias de guarida, crianza, alimentación, amparo y salud, sucedan. Es un hecho, que yo corroboro con las estadísticas de mi clientela, el 80% de ella es femenino, por lo que es obvio que la mujer está más consciente de su cuerpo que el hombre. Todo hombre tiene la mente de un conquistador, esto lo hace un poco depredador. Todo hombre está orientado al poder, esto lo hace líder o sumiso. Nuestro sistema de castas está basado en esto. Hay gente "de casta" y descastados, vencedores y vencidos, jefes y subordinados, por la sencilla razón de que todavía pesa sobre nosotros la tara del instinto animal, del imperativo territorial, en donde el macho más poderoso y astuto controla y define su territorio, sometiendo a su voluntad al resto de la manada y aparece entonces el dulce encanto de la burguesía, la burocracia con sus jerarquías y sus privilegios. En otro espacio he narrado est