Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Regulation 9(f) is amended to replace wording permitting credit rating agencies to carry out specified other activities and to rate financial instruments under guidelines of a financial sector regulator or authority with wording allowing CRAs to carry out any other activity as may be specified by the Board and to rate instruments falling within the purview of any other financial sector regulator or authority, operative effect: CRAs may perform additional Board-specified activities and rate instruments under the regulatory purview of other regulators. The Explanation is substituted to require such ratings to conform to the respective regulator's rating guidelines and be under that regulator's purview, operative effect: ratings by CRAs must follow and remain subject to the applicable regulator's guidelines and oversight. The existing proviso is omitted, operative effect: the prior proviso no longer applies.
Regulation 9(f) is amended to replace wording permitting credit rating agencies to carry out specified other activities and to rate financial instruments under guidelines of a financial sector regulator or authority with wording allowing CRAs to carry out any other activity as may be specified by the Board and to rate instruments falling within the purview of any other financial sector regulator or authority, operative effect: CRAs may perform additional Board-specified activities and rate instruments under the regulatory purview of other regulators. The Explanation is substituted to require such ratings to conform to the respective regulator's rating guidelines and be under that regulator's purview, operative effect: ratings by CRAs must follow and remain subject to the applicable regulator's guidelines and oversight. The existing proviso is omitted, operative effect: the prior proviso no longer applies.
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