TOP
>>>
TG
Dec 18
>>>>
BL
How Delhi is losing the pollution battle
Vehicular emission standards needed to be upgraded and the use of cars disincentivised, CSE recommended
Nexus ( BOND) between RBI and Societal Welfare !
AT
Service charges in Coop. Society
Cross Refer Prev. Blogs
Monlife
Dec 12
Realty
152 out of 172 'Adarsh' type constructions in Maharashtra, are in Pune
< RTI reveals that violating environmental norms in Pune has gone through the roof and is likely to land buyers in trouble.
http://vswaminathan-vswaminathan-swamilook.blogspot.in/2011/12/realty-revised-regulatory-bill-201.html?view=sidebar
Also read
Standing Committee Report - PRS
THIRTIETH REPORT LOK SABHA SECRETARIAT NEW DELHI February, 2014/
More HERE
Goverment to revise Real Estate Regulatory Bill: Naidu ...
www.business-standard.com/.../goverment-to-revise-real-estate-regulator...
The Committee are of the view that the construction of
real estate projects in all the residential areas where the people are already
dwelling, the debris across the roadside, streets and in parks and grounds
prove to be menace for the local people.Thus, though the clearing of debris
etc. is part of Municipal functions, it should be made the responsibility of
the promoter to ensure the timely clearance of all the debris generated during construction
of the projects. Thus, the Committee recommend that a new sub-clause should be
incorporated in the Bill making it the responsibility of the promoter to clear
the debris generated during construction of the project, till the completion of
projects.
AT
Bandra recorded highest level of Pollution in Mumbai
Banking
LATEST COMMENT
PREV.
'Parking space must be provided to members who are charged'
Shri Ganesh Developers fined for not executing sale deed
Corruption
vswami in reply to Vaibhav Dhoka
BL
Commoner's (common sense) Reaction:
“Many ... are lobbying to extend that allows them to maintain low provisions
against impaired or stressed assets."
Bluntly stating, is not what is being lobbied for, the most
dreaded and obnoxious practice of "window dressing”, that happens to being indulged in, with or
without forbearance by the Regulator, quite for long? On that premise, is not
the 'statutory audit' of banking sector reduced to an empty or meaningless
formality, a farce? Does not then, the report, as is the convention, expressing
the opinion, -regardless of the clumsily guarded language in which it is lately
chosen to be couched, - that the audited final accounts show a true and fair
view (picture) of the financial position , if were construed / interpreted in
actual and factual terms, and in substance, tantamount to saying it all but
really divulging nothing to the stakeholders ?
>>>
TG
Dec 18
>>>>
BL
How Delhi is losing the pollution battle
Vehicular emission standards needed to be upgraded and the use of cars disincentivised, CSE recommended
Nexus ( BOND) between RBI and Societal Welfare !
India needs to provide more tax breaks to individuals so
as to encourage savings, RBI Governor R... » 10 comments
The Colonel has said well; and a couple of points do deserve
a serious consideration and governmental action, on a war footing e.g.
incentive to individuals who partake in
working towards the altruistic objective of controlling the alarmingly
galloping population growth. Further, 'earned income' in its true/ideal sense
needs to be given a more favorable treatment, in comparison to the other kind,
as that should greatly help in promoting laudable social objectives- in a way,
curb the threatening growth of monies made falling under the only other
category of "unearned income" , thereby try and control the evils of ‘corruption’
and the resultant "inflation".
2. Role of regulators is not just boosting Sensex: Rajan
Of course, NOT, even remotely. Certainly , NOT THE OBJECTIVE OR ONE OF THE OBJECTIVES behind the set-up of the Institution !AT
Service charges in Coop. Society
One very important issue,-of concern to the housing society
and its members, of which not even a whisper is seen to have been made,- that
has come to the fore, but no clarity is still available, is in regard to the changeability of 'service tax' on any one or more of the
listed collections. According to a well-founded view, the levy is seriously
questionable should the well established common law principle/doctrine of
'mutuality" be invoked and forcefully canvassed.
Further, in the case of 'Owners' Association" as constituted by buyers of 'apartments' , separately governed by the MAOA (in KAR by KAOA) - as distinct from hosing society of buyers of 'flats' governed by KOFA (in KAR by KAOA) , the identity is more pronounced so as to claim exemption on the ground of 'mutuality'.
KEY NOTE: Likewise, -on the same ground but/provided factual matrix in a given case is distinguishable,- albeit the adverse view the SC has taken in Bangalore Club case (2013 (76) KLJ pg 475), particularly on Bank interest,- refer previous blogs, - one would submit, claim for exemption from income-tax may be worthwhile seeking and pressed for, if/as fortified by a law expert 's opinion.
Further, in the case of 'Owners' Association" as constituted by buyers of 'apartments' , separately governed by the MAOA (in KAR by KAOA) - as distinct from hosing society of buyers of 'flats' governed by KOFA (in KAR by KAOA) , the identity is more pronounced so as to claim exemption on the ground of 'mutuality'.
KEY NOTE: Likewise, -on the same ground but/provided factual matrix in a given case is distinguishable,- albeit the adverse view the SC has taken in Bangalore Club case (2013 (76) KLJ pg 475), particularly on Bank interest,- refer previous blogs, - one would submit, claim for exemption from income-tax may be worthwhile seeking and pressed for, if/as fortified by a law expert 's opinion.
A Society is a Service-Provider, under the Consumer
Protection Act - ?!
Cross Refer Prev. Blogs
Monlife
Dec 12
Realty
152 out of 172 'Adarsh' type constructions in Maharashtra, are in Pune
< RTI reveals that violating environmental norms in Pune has gone through the roof and is likely to land buyers in trouble.
http://vswaminathan-vswaminathan-swamilook.blogspot.in/2011/12/realty-revised-regulatory-bill-201.html?view=sidebar
Also read
...the real estate (regulation and development) bill, 2013
Standing Committee Report - PRS
www.prsindia.org/uploads/media/.../SCR-Real%20Estate%20Bill.pdf
THIRTIETH REPORT LOK SABHA SECRETARIAT NEW DELHI February, 2014/
Recommendations appear in page nos.
7,9,10,11,13,14,18,19,21, 23,28, 34,36, 37,43, 45,
46,48,52,53,54,56,57,59,61,64,66,67,68,72,75,77,79,80,84 and 85
BILL NO. XLVI OF 2013 ,
THE REAL ESTATE (REGULATION AND DEVELOPMENT) BILL, 2013
More HERE
Goverment to revise Real Estate Regulatory Bill: Naidu ...
www.business-standard.com/.../goverment-to-revise-real-estate-regulator...On these:
I...the real estate (regulation and development) bill, 2013
II THIRTIETH REPORT
LOK SABHA SECRETARIAT NEW DELHI February, 2014/
Recommendations appear in page nos.
7,9,10,11,13,14,18,19,21, 23,28, 34,36, 37,43, 45,
46,48,52,53,54,56,57,59,61,64,66,67,68,72,75,77,79,80,84 and 85
May be worthwhile ascertaining and knowing present status/further
development, if any, since the
UD Union Minister last spoke:
Goverment to revise Real Estate Regulatory
Bill: Naidu ...
< BL
< BL
Real Estate Bill will protect consumers, regularise transactions
Top Priority-
A Common Sense Poser:
Should
this*, just as any other measures by way of 'REFORM' as proposed in the
long awaited subject legislation but stuck in the pipeline, wait; and
if so, for how long?
*Clause 11
4.2 Clause 11 relates to the functions and duties of
promoter.
Clause 11(4)
4.8
AT
Bandra recorded highest level of Pollution in Mumbai
Banking
LATEST COMMENT
Mahesh Khanna
PREV.
'Parking space must be provided to members who are charged'
Shri Ganesh Developers fined for not executing sale deed
Corruption
|
Vaibhav Dhoka
Ordinary bank customer is end
looser as he has to compensate such huge NPAs as he he has to bear the
brunt as increased service charges,The recent limitation of ATM usage is
best example.In fact banks are using unfair trade practice to recover
charges from deposits kept with them.
| Reply | »Link | » Report abuse |
Mr Vaibhav Dhoka
I am sorry, you have touched only the proverbial ‘tip of the iceberg’.
I am sorry, you have touched only the proverbial ‘tip of the iceberg’.
The 'unfair trade practice', going by past experience,and having in mind
the increasingly reported irregularities, certainly could not just be
the only one you refer. Should you or anyone else supposed to
be really concerned,- of all, the RBI as the Regulator for the sector-
ever cared to scout around and probe into sincerely and purposefully, many and much
more serious of the kind would have come to surface long ago. So much
so, the RBI could have, as expected of, taken effective remedial
measures, on a timely basis.
Those are essentially of the kind largely impacting and badly impairing even the basic rights of account holders. To hint at, one such instance given publicity in the media may be looked up @ Bank pulled up for ‘deficient documentation’ (Businessline), As commented/opined there under, the area of grievance complained of , in one’s conviction, is something coming well within the control of the RBI. Subject to inquiry, there is no knowing whether the RBI has since taken any remedial steps to put an end once for all to such misdemeanors, as commonly known to being indulged in, by banks, particularly PSBs.
Instances of such or similar “deficient documentation”, more so in material respects, not only with respect to ‘loans’ given by banks (as in the reported case) but also FDs and other term/time deposits accepted by banks from the public might not be difficult to locate /identify; provided , of course, the deposit account holders are intelligent /shrewd enough, so as to care and diligently go through the contents of the most important document of all, being the Application for Account Opening. For, that is the document in which the applicable “terms and conditions” are, -rather expected to be truly, -set out, clearly in simple and plain words , and unambiguously . Any loan taker or depositor is, more often than not, for varying reasons and attendant circumstances, accustomed to sign even such vital documents, on the dotted lines, primarily because of the utmost trust and faith placed on the bank; more so, under the honest belief /taking for granted that the bank, known for its reputation/popularity, would not have failed but taken the utmost care and caution, in order to ensure that the terms and conditions are strictly in accordance with the governing Banking Rules and Regulations, the directives issued by RBI, and in force, from to time, the Code of Ethics , so on.
May be contd.
RELATED
> icl
Guest Post - Company Deposits: New Rules Change The Game
REF. Comments
>> http://indiankanoon.org/docfragment/140848451/?formInput=unfair%20trade%20practices
>>>>>
Dec 11
wrt Principles of Natural Justice in Taxation Proceedings
Cross Refer @
Add-on
TG
Those are essentially of the kind largely impacting and badly impairing even the basic rights of account holders. To hint at, one such instance given publicity in the media may be looked up @ Bank pulled up for ‘deficient documentation’ (Businessline), As commented/opined there under, the area of grievance complained of , in one’s conviction, is something coming well within the control of the RBI. Subject to inquiry, there is no knowing whether the RBI has since taken any remedial steps to put an end once for all to such misdemeanors, as commonly known to being indulged in, by banks, particularly PSBs.
Instances of such or similar “deficient documentation”, more so in material respects, not only with respect to ‘loans’ given by banks (as in the reported case) but also FDs and other term/time deposits accepted by banks from the public might not be difficult to locate /identify; provided , of course, the deposit account holders are intelligent /shrewd enough, so as to care and diligently go through the contents of the most important document of all, being the Application for Account Opening. For, that is the document in which the applicable “terms and conditions” are, -rather expected to be truly, -set out, clearly in simple and plain words , and unambiguously . Any loan taker or depositor is, more often than not, for varying reasons and attendant circumstances, accustomed to sign even such vital documents, on the dotted lines, primarily because of the utmost trust and faith placed on the bank; more so, under the honest belief /taking for granted that the bank, known for its reputation/popularity, would not have failed but taken the utmost care and caution, in order to ensure that the terms and conditions are strictly in accordance with the governing Banking Rules and Regulations, the directives issued by RBI, and in force, from to time, the Code of Ethics , so on.
May be contd.
RELATED
> icl
Guest Post - Company Deposits: New Rules Change The Game
REF. Comments
Add-on (To share more):
“....These provisions are however not applicable to:
(a) banking companies; “
and (b) to (d)
One is not quite clear, rather have nagging grave/serious doubts
on, -as to why/what is the rationale behind such exclusion of the so specified entities
from the applicability of the referred new provisions, which, as proclaimed, have
the laudable objective of ‘investors ‘ protection’.
Some of the since reported but not-unrelated developments,
for instance HERE ,-
seem to lend credence to the mentioned doubts /strong reservation.
For an elaboration, may refer the personal viewpoints posted
in the Blogs, the latest @ http://vswaminathan-swamilook.blogspot.in/2014/12/realty-news-contd.html
To quote a renowned law legend, humanist and great thinker of our own times, in no less a person than N A Palkhivala:
Man has been defined
as a rational animal. But you cannot live without being constantly reminded
that this definition was given to man by man unto him in a characteristic
moment of self- adulation.
>> http://indiankanoon.org/docfragment/140848451/?formInput=unfair%20trade%20practices
>>>>>
Dec 11
wrt Principles of Natural Justice in Taxation Proceedings
Cross Refer @
For The Day
Add-on
TG
Principles of Natural
Justice in Taxation Proceedings
(Author – INDER CHAND JAIN, Chairman, Anupam Housing Group, Agra, Email:inderjain2007@rediffmail.com, Mobile: 09319215672)
(Author – INDER CHAND JAIN, Chairman, Anupam Housing Group, Agra, Email:inderjain2007@rediffmail.com, Mobile: 09319215672)
Natural justice is a concept
of common law and represents higher procedural principles developed by the
courts, which every judicial, quasi-judicial and administrative agency must
follow while taking any decision adversely affecting the rights of a private
individual. In short, Natural justice implies fairness, equity and equality.
The concept of Rule of Law would lose its validity if the instrumentality of
the State are not charged with the duty of discharging these functions in a
fair and just manner.
The principles of natural
justice are enshrined in Article 14 & 21 of the Constitution of
India. With the introduction of concept of substantive and procedural due
process in Article 21, all that fairness which is included in the principles of
natural justice can be read into Article 21. The violation of principles of
natural justice results in arbitrariness and therefore violation of natural
justice is a violation of Equality clause of Article 14. The principle of
natural justice encompasses the following two rules: -
......
Read Other Articles of Inder Chand Jain
Inordinate Delay in filing Revisions/Appeals by Government not to be condoned henceforth –
.>>>>>>
Read Other Articles of Inder Chand Jain
Inordinate Delay in filing Revisions/Appeals by Government not to be condoned henceforth –
Well articulated and incisive write-up.
In our ultra modern times, there has come to be placed an
uncalled for/unfair overemphasis on ‘material’ things. The ‘talk of the town’,
for that matter even governmental policies, are exclusively focussed on /narrowed
down to, – uncontrolled ‘economic growth’ i.e. ‘wealth building’. As a natural
consequence, the special art of law making, -thanks to the recalcitrant,
utterly insincere and cavalier attitude/outlook of the elected representatives
and the coterie, a trend that has alarmingly been spread and come to stay
forever, far and wide across the globe,- has been degraded almost to a farce /
big ‘tamasha’. And as an inevitable corollary, intended implementation and
enforcement, so also, on the flip side, expected obedience and compliance,
-even with any of those few principle(s) -based rules,- having a truly laudable
objective, altruistically aimed at societal welfare, has pathetically become an
exception.
These are what seem to have been summed up here: “The concept of Rule of Law would lose its validity if the instrumentalities of the State are not charged with the duty of discharging these functions in a fair and just manner.”
These are what seem to have been summed up here: “The concept of Rule of Law would lose its validity if the instrumentalities of the State are not charged with the duty of discharging these functions in a fair and just manner.”
That appears to explain why, lately, the judiciary has,
in its wisdom, been obliged, rather considered it appropriate, to follow the
common law principles of natural justice and equity; in preference to the
‘letter ‘ of the law.
Perhaps, ,if remember right, it is for the very same
reason that, in the pending central legislation, specially for regulating the
realty sector, the proposal is to have disputes settled by tribunals to be set
up there under , mainly following the principles of natural justice, as opposed
to the rules book.
.>>>>>>
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