DINESH SAINI (INFORMANT) VS. UOI & ORS (RESPONDENT)

W.P. (C)                     : 9003/2011
Date of Decision   : 23/07/2013
Act Applicable       : The Companies Act, 1956

BRIEF OF FACTS

• According to the informant the decision to extend the accounting year for a period upto three months can be taken by the company before the end of the financial year or at the best before the period by which the financial year is to be extended, expires and not thereafter. 
• On the other hand the Respondent submits that the decision to extend the financial year could be taken by the company even after expiry of the period by which the financial year is sought to be extended and there is no requirement of law that such a decision has to be taken before the expiry of the financial year.

CONCLUSION

It was held that as per the Provisions of Section 210 of the Companies Act, 1956 it would be unrealistic to take a view that, the company must take the decision to extend the financial year, before the financial year or period by which the financial year is sought to be extended. 

DECISION

Writ Petition was dismissed.

NEWS WRAP - OCTOBER 31, 2013

• TPG , Danone in talks to buy Tirumala milk; buyers eyeing 80% stake for Rs.1800 crore.

• Being Human licensee Mandhana in talks with the private equity fund to raise Rs.120-150 crore by selling up to 30% stake in the Company.

• Air India invites global tender for A-320.

• India slaps $787 per tonne anti-dumping duty on Chinese paracetamol.

• Competition Commission of India (CCI) has initiated an investigation in to the tendering process to procure meningitis vaccine for Hajpilgrims.

• Jignesh Shah, Joseph Massey bank accounts frozen by Economic Offences Wing (EOW).

Source: Economic Times

NEWS WRAP - OCTOBER 30, 2013

• Apple to cut iPhone 4S price, make it entry level model.

• The Direct Taxes Code (DTC) Bill, which seeks to replace the archaic Income Tax Act, is likely to be placed in Parliament during the winter session.

• National Highways Authority of India plans to launch a tax-free issue for Rs.5,000 crore by December,2013.

• Section-25 Companies (Non Profit Making Companies) under Govt. scanner for flouting norms.

Source: Economic Times

NEWS WRAP - OCTOBER 29, 2013

• The Supreme Court directed the Sahara group to hand over title deeds of property worth Rs20,000 crore to the Securities and Exchange Board of India (SEBI).

• Coca-Cola remains committed to $5 billion investment in India.

• Competition Commission will have more discussions before taking a final view on the proposed Rs 2,058 crore Jet-Etihad deal.

• Vodafone India will continue to invest a minimum of Rs 4,000 crore to Rs 6,000 crore every year to expand operations in the world’s second-biggest mobile phone market.

• Government to provide relief for stressed infrastructure projects soon. 

Source: Economic Times

NEWS WRAP - OCTOBER 28, 2013

• Sunil Mathur appointed CEO of Siemens India; the first Indian to head the German Company’s Indian unit.

• Mahindra & Mahindra takes a new road, to sell branded apples from next month.

• Promoter says Formula 1 will be back in 2015.

Source: Economic Times

NEWS WRAP - OCTOBER 26, 2013

• Apollo Hospitals' Prathap Reddy to raise Rs 550 crore from Kohlberg Kravis Roberts (KKR).

• Tata Sons-Singapore Airlines carrier plans to launch operations by June next year.

• Deutsche Bank raises Sensex target to 22K as investors' pessimism receding.

• Public Accounts Committee seeks details from Telecom Ministry on allegations against TRAI.

Source: Economic Times

NEWS WRAP - OCTOBER 25, 2013

• Boardroom battle: Amul to consider no-confidence motion against chairman Vipul Chaudhary.

• Tata-Singapore Airlines aviation venture gets FIPB nod without any riders.

• Wal-Mart to accelerate China expansion with 110 new stores.

• Siddharth Roy Kapur to take over as MD, The Walt Disney Co. India, in January 2014.

• Accenture, Wipro, Infosys most sought after employers in India.

• Jet Airways posts highest ever quarterly loss of Rs.891 crore.

• Smartphone maker BlackBerry unveiled its premium flagship Z30 phone in India, as it takes on competition from iPhone and Samsung to save its dwindling market share.

• Bharti Airtel board okays merger of a wireless broadband company it recently acquired from US Qualcomm with itself.

• Educomp fails to pay PF for its 15000 Employees.

Source: Economic Times

NEWS WRAP - OCTOBER 24, 2013

• General Motors India likely to face Rs 11-crore fine on charges of corporate fraud.

• Britain's drug regulator has revoked Wockhardt's quality compliance certificate.

• Dabur to launch milkshake under the 'Real' brand.

• HDFC Bank hits overseas bond market with benchmark issue.

• SBI transfers 70 executives, move seen as an attempt by new chief  Arundhati Bhatacharya to stamp her authority.           

 Source: Economic Times

VINEET KUMAR (INFORMANT) VS. MINISTRY OF CIVIL AVIATION (MOCA) (RESPONDENT)

Appeal No.              : 18 of 2013

Date of decision   : 06/08/2013

Act Applicable      : The Competition Act, 2002

BRIEF FACTS OF THE CASE

1. The Information was filed by Informant who claim to be a public spirited citizen to protect and promote the interests of the passengers who use air transport services in India against Respondent (MOCA) alleging inter alia contravention of the provisions of section 4 of the Competition Act, 2002.
2. The Respondent constituted a committee named as ‘the Aircraft Acquisition Committee (AAC)’ to consider and examine the applications/ proposals for providing air transport services. 
3. Informant alleged that MOCA was going slow in allowing private airlines to import more aircrafts, which raised question about the roles of the Respondent in the investment and financial decisions of market participants. The Informant also alluded to a news item which reported that a Delhi based low-cost private airlines which had sought permission from AAC for import of 16 aircraft during this current calendar to add to its fleet, was instead permitted to import only 5 aircrafts.
4. The informant made detailed reference to the various clauses of the impugned guidelines to contend that the same were violative of the provisions of section 4 of the Competition Act, 2002.

CONCLUSION

After the initial examination CCI observed that as per the subjects allocated to MOCA the activities and functions of MOCA essentially include inter alia regulation of civil aviation sector and formulation of policy for the civil aviation sector. These activities of MOCA cannot be considered as commercial activities as implied in the definition of the term ‘enterprise’ as defined in section 2 (h) of the Competition Act, 2002. For the reasons noted above, it is not necessary to further dilate on this aspect

     DECISION 

    The information was not maintainable and deserved to be closed.

NEWS WRAP - OCTOBER 23, 2013

• Prabir Jha, Senior vice-president and chief HR at Tata Motors set to join Reliance Industries.

• TCS bagged a multi-million dollar deal from leading rail vehicles maker Bombardier.

• Kalpataru Group, Oberoi Realty, Runwal Group and Lodha Group in final lap for Clariant's plot.

• UAE-based travel portal Musafir.com has Sachin Tendulkar as a minority stakeholder and brand ambassador will launch its India operations.

• Publicis Groupe acquired Beehive Communications, an independent integrated agency headquartered in Mumbai, for an undisclosed sum.

Source: Economic Times