Government plans to amend NIA Act, UAPA
To give more power to the NIA, the government plans to amend the act under which the terror probe agency was created and also effect changes in the Unlawful Activities (Prevention) Act (UAPA), officials said today. The draft bills for the amendments to the National Investigation Agency (NIA) Act and counter-terror law UAPA are being prepared and may be introduced in the Monsoon Session of Parliament that begins on Wednesday. As per the proposed move, the NIA will be allowed to probe cases of terror attacks on Indians in abroad and seize and attach property representing proceeds of terrorism. It will also make the probe agency the nodal authority for probing cases of human trafficking, an official said.
Trai says users own their data, calls for stricter security rules
Entities that control or process personal information and data are mere custodians and do not have primary rights over it, India’s telecom regulator said, suggesting that users be given the right to choose the information they want to share and be forgotten if they so desire. The existing framework for protection of personal data of telecom consumers is not sufficient and hence all entities that process personal user data should be brought under a data protection framework, the Telecom Regulatory Authority of India (Trai) said in recommendations made public on Monday. Trai’s suggestions assume significance as a huge chunk of user data is being generated on smartphones.
Jaiprakash Associates lists proposals before SC to settle disputes
Jaiprakash Associates Ltd (JAL) on Monday told the Supreme Court that it is ready to deposit postdated cheques for 600 crore with the court’s registry and sell its cement plant at Rewa, Madhya Pradesh in order to settle its ongoing legal battle with homebuyers and creditors. To give effect to the proposals, counsel for JAL Fali S Nariman sought a direction to the National Company Law Tribunal (NCLT), Allahabad, to begin the process for sanctioning a Scheme of Arrangement, after a restructuring plan was agreed by all 32 creditors of JAL. JAL also sought a stay on initiation of liquidation proceedings against its debt-ridden subsidiary, Jaypee Infratech Ltd (JIL) as it was willing to deposit post-dated cheques to honour its proposal.
Supreme Court orders execution of sale deed for Unitech land
The Supreme Court on Thursday directed execution of a sale deed for the embattled real estate firm Unitech’s land near Bangalore in favour of Devas for Rs 97. 69 crore. It also asked the purchaser to deposit Rs 43.17 crore, the Unitech’s share in the deal, with the registrar of the apex court within 10 days. While the 12.25 acre of land is owned by two individuals and Unitech together, the latter will get a total of Rs 49 crore. Devas has already deposited Rs 6 crore with the SC registry. A Bench led by Chief Justice Dipak Misra also directed the committee chairman to supervise the sale and ensure that the deal is done within the stipulated time.
GST on land lease: High Court ruling upsets status quo
The Bombay High Court has ruled that the one-time premium payable for long-term lease (30 years or more) of land would attract goods and services tax (GST) as it constituted ‘supply’ under the GST Act. Experts said that the order went against the accepted principle of considering long-term leases as “sale of immovable property”, which is outside the purview of GST. Short-term lease (less than 30 years) are anyway subject to GST and had attracted service tax in the previous regime. In the present case, the petitioners, who are builders and developers, won bids for leasing land from City Industrial and Development Corporation of Maharashtra (CIDCO) in Navi Mumbai and Panvel.
AreclorMittal not eligible to bid for Essar Steel, Numetal tells NCLAT
VTB Capital-led Numetal on Monday said in the National Company Law Appellate Tribunal (NCLAT) that its rival AreclorMittal should not be made eligible to bid for Essar Steel as it is yet to clear dues of two defaulting firms – Uttam Galva Steels and KSS Petron. “It’s an admitted fact that AreclorMittal Netherlands, a 100% subsidiary of AreclorMittal, was a promoter of Uttam Galva. If AreclorMittal through AreclorMittal Netherlands is an admitted promoter of Uttam Galva, which was admitted as an NPA, then it is ineligible,” said senior counsel Mukul Rohatgi, appearing on behalf of Numetal. “ArcelorMittal was, thus, not eligible to bid for Essar Steel, as on February 12, because it did not cease to be a shareholder/promoter as the declassification was done on only on March 21 in the NSE and on March 23 on the BSE,” he said.
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