The Supreme Court has ruled that a recovery officer of the debt recovery tribunal has no power to confirm the sale of the property of a company under liquidation when the company judge has appointed an official liquidator.

SC set aside auction sale

Business Standard

In a bid to discourage vehicles that consume more fuel, the government has raised the excise duty on bigger cars, multi utility vehicles, and sports utility vehicles.

Increased excise on vehicles needs more govt explanation

A sick company that makes huge orders and issues cheques to the seller with no real intention to pay must stand criminal trial under Section 138 of the Negotiable Instruments Act, the Supreme Court stated in the case, Southern Steel Ltd vs Jindal Vijayanagar Steel Ltd.

SC holds sick company liable for not honouring cheques

According to a recent Goldman Sachs report, the country's overall government deficit will cross 7 per cent in 2008-09 from below 6 per cent in 2007-08.

Showstopping figure

P>At a time when Asian countries are becoming more important economically and geo-politically, they should be wary of the dangers of ultra-nationalism.

Pranab Bardhan: Virulence of nationalism

P>Even as global food prices sizzle, in part because of the large-scale conversion of food crops into bio-fuels, the International Energy Agency (IEA) has surprised many observers by advocating further promotion of these non-fossil auto fuels.

Editorial: Are bio-fuels the answer?

P>"The potential of neuro-economics has been overstated by some, unappreciated by others, and misunderstood by many"
P>If further proof were needed of the vanity of economics, neuro-economics provides one more piece of evidence.

TCA Srinivasa-Raghavan: Will neuro-economics save the day for economics?

P>Can India meet the target for infrastructure spending without foreign capital?
P>Today, few question the need for substantial improvement in infrastructure if India is to sustain its rapid growth.

Kalpana Kochhar: The 500-billion dollar question

P Chidambaram: The Finance Bill is intended to amend the Income Tax Act and some other fiscal laws, but the fact is that while some members have raised some questions about the provisions that we have made in the Finance Bill, none has found it necessary to move an actual amendment to the Finance Bill.

`Some subsidies are unavoidable`

P>The inflation spiral is a chance to fix things - hiking petrol prices, for instance, will promote conservation.

A V Rajwade: Problem or solution?

Finally the debate on Finance Bill 2008 is getting over Last week, the lower house of Parliament passed the Finance Bill 2008 soon after the Finance Minister moved additional fiscal proposals to contain inflation.

Fiscal incentives for IT/ITes players need clear direction

The Supreme Court held last week that the right to sell the mortgaged property of a sick unit by a state financial corporation must be exercised only in respect of the mortgaged property and not against other properties of the unit.

Only mortgaged property can be sold in case of a sick unit: SC

In this treatise I am trying to assess what exact purpose has been served in the Budget 2008-09 by amending the definition of excisable goods in the Section 2(d) Central Excise Act by adding the following provision:
&#34ExplanationFor the purpose of this clause &#34goods&#34 includes any article, material or substance which is capable of being bought and sold for a consideration such as goods shall be deemed to be marketable&#34.

Effects of changed definition of manufacture

&nbsp;The Central Board of Excise and Customs (CBEC) has issued Circular no. 6/2008 dated April 28, 2008 prescribing the procedures for claiming refund of the 4 per cent additional duty of Customs (popularly known as SAD) paid at the time of import of goods.

Circular on claiming SAD leaves loopholes

P>The numbers for the Wholesale Price Index (WPI) for the week ending April 19, released last Friday, will undoubtedly add to the government's headaches on the inflation front.

Editorial: Persistent pressure

P>The ad hoc nature of government policy towards airports is no longer a joke, since it has played havoc with both passengers who have to traverse large distances, and those who have invested in new airports on the basis of contractual commitments.

Editorial: Flights of ad hocism

P>The effort to acquire germplasm from every conceivable source needs to be redoubled.

Surinder Sud: Genetic revolution

Jo dalit hit ki baat karega, wahi panchayat me raj karega (Those who will work for the interest of Dalits, will rule in the panchayat).

Inside a PACS nursery for NGOs

&nbsp;Negligence and incompetence of law officers cost the exchequer enormously.
&nbsp;The government is involved in more than half the litigation in the courts and huge public funds are involved in the disputes which reach up to the Supreme Court.

M J Antony: Judicial cry in the wilderness

P>The central bank should be made responsible for delivering on an inflation target.

Ajay Shah: Losing the plot on inflation

P>For eight successive years - between 1999-2000 and 2006-07 - the port at Visakhapatanam occupied the number one slot among the twelve major ports in the country.

A K Bhattacharya: Oil, oil, everywhere

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