ICAR, Dr. Reddy's Foundation ink MoU to strengthen agricultural skills & improve rural livelihoods (See 'Corp Brief') Baramati Copter accident: An update (See 'Corp Brief') India-New Zealand hold Working Group Meeting on Horticulture Cooperation (See 'Corp Brief') SARFAESI - Sec 34 bars civil courts from entertaining suits in respect of any action taken or to be taken under SARFAESI Act, and DRT alone has jurisdiction to adjudicate challenges to measures u/s 13(4): HC (See 'Legal Desk') Google CEO Pichai visits Bharat GI Coffee Lounge (See 'Corp Brief') New Delhi Frontier AI Commitments aim to democratize AI Access and Innovation (See 'Corp Brief') India aspires to establish equitable maritime order based on international rules (See 'Corp Brief') A&C - At Section 11 stage, it is required only to examine existence of arbitration agreement and not to adjudicate upon issues of arbitrability or merits, which are to be decided by arbitral tribunal: HC (See 'Legal Desk') Scaling Impactful AI Use Cases critical for India to become 'Use-Case Capital' (See 'Corp Brief') Joshi visits Exhibition on AI-Driven Transformation of Public Distribution System (See 'Corp Brief') IBC - Resolution Professional is obligated to ensure that resolution plan complies with all provisions of law, and he cannot escape liability by claiming lack of available data: HC (See 'Legal Desk') Responsible and Equitable Scaling of AI in Classrooms emerges as Key Priority (See 'Corp Brief') Power Minister inaugurates Pavilion at AI Impact Summit 2026 (See 'Corp Brief') Trade Marks - Section 35 permits bona fide use of one's own name or that of a predecessor in business, even if such use may otherwise amount to infringement under Section 29(5): HC (See 'Legal Desk') CCI approves proposed Merger of Hinduja Leyland Finance into NDL Ventures (See 'Corp Brief') IICA renews MoU with NALSAR to strengthen Academic Collaboration (See 'Corp Brief') Trade Marks - Mere knowledge of respondents' registered trade mark or speculative potential for confusion in tenders cannot negate bona fide adoption where trade name is derived from the predecessor's own surname: HC (See 'Legal Desk') CCI approves acquisition of portfolio services of Axis Securities by Axis Asset Management (See 'Corp Brief') IBC - In real estate projects, single insolvency petition is maintainable against more than one corporate entity if they are intrinsically connected in execution and marketing of project: SC (See 'Legal Desk') Finland-India Synergy can provide strong foundation for co-innovation: Finnish PM (See 'Corp Brief') PMLA - If Enforcement Directorate establishes connection between alleged predicate offences and accumulation or layering of assets, Adjudicating Authority's confirmation of provisional attachment may be upheld: SAFEMA (See 'Legal Desk') Chouhan calls for Direct Farmer Feedback to strengthen Scheme Effectiveness (See 'Corp Brief') PMLA - If under-construction property was purchased using funds routed through shell entities, and neither shares are allotted nor executed any loan agreement, such transaction was benami transaction: SAFEMA (See 'Legal Desk') AI Compendia to serve as Guidebooks for Global South: Govt (See 'Corp Brief') SEBI - Noticee is prohibited from taking up any new clients as stock broker: SEBI (See 'Legal Desk') Supreme Court Clears Path For Single Insolvency Proceedings Against Linked Group Companies (See CORP EINSICHT) IBC - Spectrum allocated to Telecom Service Providers cannot be subjected to proceedings under Insolvency and Bankruptcy Code: SC (See 'Legal Desk') AI is meant to augment, Not replace Clinicians: MoS (See 'Corp Brief') Misc - Delay in filing appeal u/s 74 of Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 can be condoned u/s 5 of Limitation Act: SC (See 'Legal Desk') Chouhan launches artificial intelligence-based scheme 'Bharat VISTAAR' Phase 1 in Rajasthan (See 'Corp Brief') A&C - Section 29A does not impose any statutory bar on courts extending mandate after arbitral award has been delivered: SC (See 'Legal Desk') NHAI to develop First of its Kind 'Bee Corridors' along National Highways (See 'Corp Brief') A&C - Parties cannot be compelled to arbitrate when very existence of contract containing arbitration clause was alleged to be fake: SC (See 'Legal Desk') AI to power India's global knowledge leadership, key to Viksit Bharat 2047: Pradhan (See 'Corp Brief') NI Act - Person who is in charge of affairs of conduct of company is vicariously liable for offence u/s 138 of NI Act when cheque issued by company gets dishonoured: SC (See 'Legal Desk') AI and Data Centres are one of Defining Energy Challenges of Our Time (See 'Corp Brief') A&C - Court exercising appellate jurisdiction u/s 37 cannot substitute its own assessment of compensation once Sec 34 court has fixed reasonable award within terms of contract: SC (See 'Legal Desk') Robust and High-Quality Data key to Advanced AI Deployment in Banking and Finance (See 'Corp Brief') A&C - Different interpretation of contract by in itself is no ground to interfere with arbitral award: SC (See 'Legal Desk') India AI Impact Summit 2026 showcases Women-led AI for Public Good (See 'Corp Brief') A&C - Non-issuance of a Sec 21 notice by one party is not fatal to raising claims before arbitral tribunal if disputes are otherwise covered by broadly worded arbitration clause: SC (See 'Legal Desk')

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Pre-Budget consultation concludes

Published: Jul 08, 2024

By TIOLCorplaws News Service

NEW DELHI, JULY 08, 2024: THE Pre-Budget consultations for Union Budget 2024-25 that started from 19th June 2024 onward in the Ministry of Finance and chaired by Union Minister for Finance & Corporate Affairs Nirmala Sitharaman, concluded on 5th July 2024.

In the course of the in-person consultations, more than 120 invitees across 10 stakeholder groups, including experts and representatives from farmer associations & agriculture economists; trade unions; education & health sector; employment & skilling; MSME; trade & services; industry; economists; financial sector & capital markets; as well as, infrastructure, energy and urban sector, participated in the meetings.

Union Ministers of State for Finance Pankaj Chaudhary; Finance Secretary and Secretary Expenditure, Dr. T.V. Somanathan; Secretary, D/o Economic Affairs, Ajay Seth; Secretary, DIPAM, Tuhin K. Pandey; Secretary, D/o Financial Services, Vivek Joshi; Secretary, D/o Revenue, Sanjay Malhotra; Secretary, M/o Corporate Affairs, Manoj Govil, Secretaries of Ministries concerned, Chief Economic Adviser, Dr. V. Anantha Nageswaran, and senior officers from the Ministry of Finance and Ministries concerned were also present during relevant meetings.

In the course of the consultations, Union Finance Minister Sitharaman expressed gratitude to the participants for sharing valuable suggestions and assured experts and representatives that their suggestions would be carefully examined and considered while preparing the Union Budget 2024-25.

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