[aaykarbhavan] Judgments and Infomration [2 Attachments]

K Sera Sera drags NBC to CCI over digital cartelization; Former SEBI member joins CCI; RBI tightens corporate group exposures

K Sera Sera drags NBC to CCI over digital cartelization; Former SEBI member joins CCI; RBI tightens corporate group exposures

K Sera Sera Files Petition with the Competition Commission of India over the release of Fast and Furious 7 Former Sebi member Sahoo joins CCI RBI tightens corporate group exposure limits Vishwaroopam ban: HC disposes writ appeals by Tamil Nadu Film Council Competition panel dismisses complaint against Suzuki Motorcycle CCI dismisses complaint against Tamilnad Mercantile Bank Microsoft patent plea to detect spam in e-docs rejected Physicist Stephen Hawking to trademark his name Foreign companies wary of India's intellectual property regime Sebi to keep earnings call info out of disclosure norms  MF distributor commission capped at 1% from April 1: Amfi Sebi targets firms raising funds from large number of investors Sebi may issue paper on listing norms for start-ups next week How constitutional are Sebi directions? Sebi eases IFSC norms for intermediaries  Sebi cancels registration of PineBridge Mutual Fund RBI to soon issue norms for Central Fraud Registry: RBI Deputy Governor SS Mundra RBI wants more say in setting up of Monetary Policy Committee RBI may hold rates in April; to go for 25 bps cut by June: DBS Companies seek easier rules for large taxpayer units, GST clarity No pseudo advertising for Municipal bonds; disclosures must: Sebi

K Sera  Sera files a petition in Competition Commission of India

India over the release of Fast and Furious 7 

KSS Ltd has informed BSE that K Sera Sera Digital Cinema Private Limited ( a wholly owned subsidiary of KKS Ltd) has filed petition with the Competition Commission of India (CCI) to stay the release of Fast and Furious 7 in India over cartelisation of distribution.

Further, the attached herewith the Press release with respect to the petition filed with CCL.

Private MoU between JV partners can't be enforced through Sec 397/398 petition

CLB dismisses petition filed by a JV partner u/s 397, 398 & 402 of Cos. Act, 1956, alleging non-payment of share transfer consideration as per an MoU; Relies on SC rulings in Incable Net (Andhra) Ltd. & Ors. v. AP Aksh Broadband Ltd. & Ors. and Chatterjee Petrochem (India) Pvt. Ltd. v. Haldia Petrochemicals Ltd. & Ors, to hold that  failure of one of the parties to a private agreement to abide by its commitment can only be remedied in a civil suit and not in a petition under section 397 of Companies Act;  Observes that petitioners concealed facts & documents and sought relief against one of the respondent (i.e. SBI) without disclosing to CLB that another application is filed under Recovery of Debts Due to Banks and Financial Institutions Act, 1993, an information which was 'vital' and 'material', and ought to have been disclosed; On petitioners' allegations relating to further allotment by respondent group without taking its consent, peruses its written statements, states that petitioners had nowhere sought allotment of proportionate shares in their favour but only sought declaration to the effect that allotment was void, which clearly shows petitioners' were disinterested in subscribing shares:Mumbai CLB

The ruling was delivered by Shri Ashok Kumar Tripathi, Member (Judicial), CLB, Mumbai. Advocates Satish Agrawal, M.S. Bhardwaj and V.P. Varma appeared on behalf of petitioners while respondents were represented by Advocates Tahseen Naz, Tejas Sanghrajka and Prashant Kumar.

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Posted by: Dipakkumar Shah <cadjshah@yahoo.com>

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