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National Pharmaceutical Pricing Authority: Analysis and Suggestions

To bring about a greater degree of transparency and objectivity to the pharmaceutical industry, the Government of India in 1997 constituted an advisory body – National Pharmaceutical Pricing Authority (NPPA), entrusted with the power to fix prices of bulk drugs and formulations. Most people in India buy healthcare from the …

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Serious Fraud Investigation Office (SFIO): Analysis & Suggestions

The Indian Government set up a committee on corporate governance under the chairmanship of Naresh Chandra, former Cabinet secretary. Based on the recommendations of the committee, the Central Government issued a resolution on 2 July 2003 constituting the Serious Fraud Investigation Office (“SFIO”), which works under the MCA. SFIO was …

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Is Section 34(5) Of The Arbitration Act Mandatory Or Directory: Supreme Court Interpretation

BACKGROUND This instant appeal arose out of an arbitral award passed on 06.01.2016. The award debtor in the instant case, (“Appellant”) challenged the said award by filing an application under Section 34 of the Arbitration and Conciliation Act, 2015 (“Act”) before Patna High Court. The Court issued a notice to …

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Dieselgate Scam: NGT Slaps Volkswagen With Rs 1 Bn For Flouting Emission Norms

NEW DELHI: Nearly four years after the Volkswagen’s emission-cheating scam came to the fore, a bench headed by National Green Tribunal (NGT) Chairperson Justice Adarsh Kumar Goel has asked the German car-making company’s India unit to deposit 1 billion rupees with the Central Pollution Control Board (CPCB) for not complying …

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Six North Eastern States Agree To Implement RERA

Two years after the Real Estate (Regulation and Development) Act was enacted by the parliament, six North-Eastern states have agreed to implement RERA in their respective states. This Act gives powers to all the states to notify their own rules for the real estate and appoint regulatory authorities. Arunachal Pradesh, …

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ED To Look Into FDI Violation by E-Commerce Websites

The Enforcement Directorate (ED) has started an inquiry into the alleged violation of Foreign Direct Investment (FDI) norms by two major players in the e-commerce arena, Flipkart and Amazon, under the Foreign Exchange Management Act (FEMA),1999. This case is scheduled to be heard on 19 November. On a PIL filed by …

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Explained: Recent Spat Between RBI and The Government of India

The Reserve Bank of India, known for its restraint, has now tuned combative, showcasing its resentment against the government. At least two speeches recently made by the top RBI officials underscore the extent of the friction between the Central Bank and the Central Government. In a speech delivered on Friday, …

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Explained: Infrastructure Leasing And Financial Services (IL&FS) Crisis

India’s financial market is reeling under high selling pressure, triggering concerns about risks in the country’s shadow banking sector. IL&FS Financial Services, a group company, defaulted in payment and failed to meet the commercial paper redemption obligations which were due on September 14. The company, on September 15, reported that …

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SC Asks Centre To Equip JJB With Video-Conferencing Facility

The Supreme Court on Monday asked the Centre to notify it on whether the Observation Homes and Juvenile Justice Boards are equipped with the video-conferencing facility. Observation Home is an institution, where neglected and delinquent juveniles are kept for a few weeks during an inquiry or trial. A bench of Justices Madan B Lokur …

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India, China Sign Internal Security Cooperation Agreement

New Delhi: Marking a new beginning in Indo-China relationship, Internal Security Cooperation Agreement was signed between the two countries on Monday. A High-Level meeting co-chaired by Union Home Minister Rajnath Singh with State Councilor and Minister of Public Security of the People’s Republic of China, Zhao Kezhi, happened in Delhi. Issues of mutual …

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