410 October 20 To October 26, 2018 u Taxmann’s Corporate Professionals Today u Vol. 43 u^52
Petitioner-students couldn’t chal-
lenge A C final result published on
Institute’s website: HCMilind Aggarwal v. Institute of Chartered
Accountants of India [2018] 98 taxmann.com
131 (Delhi)
Petitioner-students challenged CA Final exam
result on ground that they had passed as per
result circulated through Whatsapp messages
and uploaded on Facebook but had failed as
per result declared and published on Insti-
tute’s website, result of ICAI being published
only once on website with no alternative and
earlier in point of time, same could not be
challenged by petitioners who were found
unsuccessful. A mistake and error could not
confer a legal right on petitioners.
SEBI Laws
Govt. notifies SEBI (Appointment
of Administrator & Procedure for
Refunding to Investors) Regulations,
2018NOTIFICATION NO. SEBI/LAD-NRO/
GN/2018/39., DATED 03.10.2018
The Govt. of India has notified the SEBI
(Appointment of Administrator & Procedure
for Refunding to Investors) Regulations, 2018
wherein provisions related to appointment of
Administrator, eligibility norms for appointment
as an Administrator, terms of appointment,
functions of the Administrator, sale of prop-
erties, refund to investors, cost incurred on
administration and repayment process, priority
in distribution of sale proceeds, return of
monies exceeding the liability, filing of the
repayment report, disgorgement of amounts,
general obligations and responsibilities, action
in case of default and power of the board
to issue clarifications have been specified. SEBI allows eligible foreign entities
to hedge exposure in commodity
derivative marketCIRCULAR NO. SEBI/HO/CDMRD/DMP/
CIR/P/2018/134, DATED 09.10.2018
The Market Regulator, SEBI has decided to
permit foreign entities having actual exposure
to Indian commodity markets to participate
in the commodity derivative segment of
recognized stock exchange for hedging their
exposure. Such entities shall be known as
‘Eligible Foreign Entities’ (EFEs). The mini-
mum net-worth for such EFEs shall be USD
500,000.
Under the extant norms foreign entities are
not permitted to directly participate in the
Indian commodity derivatives market, even
if they import/export various commodities
from/to India.FEMA, Banking Laws
RBI eeps k repo- rate unchanged at- 5%
PRESS RELEASE: 2018-2019/795, DATED
05.10.2018
On the basis of an assessment of the current
and evolving macro-economic situation, the
Monetary Policy Committee (MPC) has decid-
ed to keep the policy repo - rate under the
liquidity adjustment facility (LAF) unchanged
at 6.5 per cent. Consequently, the reverse
repo - rate under the LAF remains at 6.25
per cent, and the marginal standing facility
(MSF) rate and the Bank Rate at 6.75 per cent.Weekly reVieW