Tag Archives: penalty

AICTE issues new norms for technical institutions- Must Read

Failing to follow these norms will mean that colleges will have to pay a fine — the amount being twice the total fee collected per student.

Not only this, the AICTE can also suspend approval for NRI and supernumerary seats given to any institution for one academic year.

Also, according to the new rules, no institute will be able to name itself a way that the abbreviated form of the name matches the country’s premier institutes — IIM, IIT, IISc, NIT or government bodies such as AICTE, UGC, MHRD, GoI. Continue reading

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Govt. to companies – Display revised MRP or face penalty

NEW DELHI: On Friday,the government told companies that they must print the revised MRP (maximum retail price) of goods they manufacture or face punishment, including a year in prison and a fine of up to Rs.1 lakh.

This is the latest effort by the government to ensure compliance by manufacturers and retailers with the new Goods and Services Tax (GST) amid complaints from consumers of overcharging and arbitrary tax rates.

“We have told companies to reprint revised rates on unsold goods. Stickers of new MRP should be pasted so that consumers are aware of the change in rates after GST,” consumer affairs minister, Ram Vilas Paswan, told reporters.

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source: http://paper.hindustantimes.com

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SC rejected the plea of Sahara group to extend the deadline

NEW DELHI: The Supreme Court on Wednesday refused to extend the July 15 deadline for payment of a second installment of Rs.552 crore by the Sahara Group to a dedicated Securities and Exchange Board of India (SEBI)-Sahara account.
A bench headed by justice Dipak Misra said that it was not inclined to grant any extension and directed that the cheque be deposited in the designated account by the stipulated date.
In case the cheque isn’t honoured, the court said that it would begin the process of auction of the group’s Pune-based property, Aamby Valley, on hold right now.
The bench also warned of consequences for Sahara chief, Subrata Roy, should the cheque be dishonoured. Continue reading

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EU SLAPS $2.7 BN FINE ON GOOGLE FOR FAVOURING ITS OWN SERVICE

BRUSSELS: European Union anti trust regulators hit Alphabet unit Google with a record 2.42-billion-euro ($2.7 billion) fine on Tuesday for illegally favouring its own online shopping service in its search results.

The move indicates the European regulators will likely take a tough line with the Silicon Valley giant in two other ongoing cases.

The EU said the world’s most popular internet search engine has 90 days to stop favouring its own shopping service or face a further penalty of up to 5% of Alphabet’s average daily global turnover.

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