Random Legal Information

Keeping at par with the recent budget proposals for the financial year 2016-17 in the infrastructure and investment sector, wherein 100% Foreign Direct Investment (“ FDI ”) is allowed through the Foreign Institutional Promotion Board (“ FIPB ”) in the marketing of food products [1] , provided that such items are sources and processed in India itself, there are considerable talks on affording the same opportunity to Food E-tailers. The intention/ objective of permitting such FDI is to increase the food consumption percentage, thereby giving the much needed boost to the food processing industry and farmers, increasing employment in the sector and strengthening the bond between farmer and folk by fetching better price for the product, as the current profit margins from the sale of food is negligible. Therefore the urgent need to bring about parity between investments for online and offline food retailers. Food E-tailers are an online platform for retailing of food. It is cons...

Department of Agriculture, Cooperation & Farmers Welfare Ministry of Agriculture & Farmers Welfare Government of India (‘ MOA & FW’ ) - Informant And M/s Mahyco Monsanto Biotech (India) Limited (‘ MMBL’ ) - Opposite Party No.1 [1] WITH Nuziveedu Seeds Ltd. (‘ NSL’ ) – Informant 1, Prabhat Agri Biotech Ltd. (‘ PABL’ ) – Informant2 and Pravardhan Seeds Pvt. Ltd. (‘ PSPL’ ) – Informant 3 AND Mahyco Monsanto Biotech (India) Limited ( MMBL ) - Opposite Party No.1, Monsanto Inc, USA ( MIU )- Opposite Party No. 2, Maharashtra Hybrid Seeds Company ( MAHYCO )- Opposite Party No. 3, Monsanto Holdings Private Limited ( MHPL )- Opposite Party No. 4 [2] Monsanto, engaged in the activities of developing and licensing of Genetically Modified (GM) trait of Bt cotton hybrid seeds and sublicensing of Bt cotton technology in India, had made headlines, for abusing its dominant position in the market. The Competition Commission of India (“ CCI ”), on receiving informatio...

Law: The Food Safety and Standards Rules, 2011 specifically state that the Importers importing food items including food ingredients and additives for commercial use shall fall under the purview of Central Licensing Authority. According the importer will have to apply for a license under the Food Safety and Standards Act, 2006. The license will be issued by the Food Safety and Standards and Authority of India ( FSSAI ), which is the apex body for implementing the Food Act and Rules. Registration Procedure: The Food Import Clearance System ( FICS ) regulates the import process of food items into India. Under this system, an importer has to take a No Objection Certificate ( NOC ) from FSSAI to import any food items into India. The FSSAI provides an opportunity to the importer to apply for online application for clearance of consignments. An importer has to sign up for creating an Id and password and thereafter register as an importer by filling the required details. ...

Nature of Case: Inquiry under section 19(1)(a) Competition Act, 2002 Case No. 30 of 2013 Brief Summary: The Competition Commission of India (“ CCI ”) imposed penalties totalling Rs 258 crores (INR 2.58 billion) on Jet Airways, IndiGo and SpiceJet for cartelisation in fixing fuel surcharge (“ FSC ”) for transporting cargo. The inquiry was initiated against 5 airlines namely Jet Airways, IndiGo Airlines, Spice Jet, Air India, and Go Air based on a complaint filed by Express Industry Council of India under Section 19(1)(a) of the Competition Act, 2002 ( “Act” ) in May 2009 against the FSC for transporting cargo by Airline companies. The principal issue was whether the Airlines had operated in a “concerted action” by overcharging for cargo freight. Though the enquiry conducted by the Director General (“ DG ”) found that the Airlines were not resorting to any collusion, the CCI rejected the DG’s findings and penalised three carriers, namely Jet Airways, InterGlob...

As per the Companies Act, 2013: S.No Section Disclosure in Directors Report 1.         67 Proviso disclosures in respect of voting rights not exercised directly by the employees in respect of shares to which the scheme relates shall be made in the Board's report 2.         92(3) An extract of the annual return in any form as may be prescribed shall form part of the Board’s report 3.         131 detailed reasons for revision of such financial statement or report shall also be disclosed in the Board's report in the relevant financial year in which such revision is being made 4.         134 1.       extract of the annual return 2.       number of mee...