Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: TDS :: list of goods taxed at 4% :: due date for vat payment :: empanelment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: cpt :: VAT Audit :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS
 
 
News Headlines »
 Filing of online return for 4th quarter of 2016-17 — extension of period thereof
 CBDT simplifies ITR filing process from FY18
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned

SEBI moves Supreme Court: Sources
April, 29th 2010

The Securities and Exchange Board of India (SEBI) has made the next move in the battle of the regulators. Medialearns from sources that SEBI has moved the Supreme Court in the ULIP matter. The petition, which was prompted by a spate of public interest litigations (PILs) was filed on April 28th and SEBI has sought the clubbing of all PILs.

Earlier this month, SEBI triggered off the battle by asking all insurers to stop the sale of ULIPs, which according to SEBI, should come under its regulations. Insurance regulator IRDA immediately struck down on this call and asked insurance companies to ignore SEBI's order.

What followed was a bitter public spat between the two regulators with the Finance Minister intervening and calling for a joint application before the judisciary.

Medialearns from sources that since SEBI did not get a reply from IRDA for this joint application, SEBI has gone ahead and made this move. SEBI, sources say, also believes that this joint initiative, if at all, should be heard by the Supreme Court and not in multiple jursdictions across the country.

A PIL was filed in the Bombay High Court seeking reversal of the SEBI ban on the sale of ULIPs. It sought guidelines on overlapping governance. The petition was filed by a Mumbai-based investor. The Insurance Regulatory and Development Authority (IRDA)  had been made party to the PIL.

Another PIL was filed in the Allahabad High Court against the IRDA. The PIL alleged that insurers were guilty of promising high return on unit-linked insurance plans (ULIPs). The PIL highlighted cases of mis-selling of ULIPs and alleged that some insurance companies were indulging in multi-level marketing activities.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions