Monday, 22 October 2012

Difference between Court and Tribunal?


Difference between Court and Tribunal? 
IN a judgement delivered on 16th October, the Supreme Court explained,
A Tribunal may not necessarily be a court, in spite of the fact that it may be presided over by a judicial officer, as other qualified persons may also possibly be appointed to perform such duty. One of the tests to determine whether a tribunal is a court or not, is to check whether the High Court has revisional jurisdiction so far as the judgments and orders passed by the Tribunal are concerned. Supervisory or revisional jurisdiction is considered to be a power vesting in any superior court or Tribunal, enabling it to satisfy itself as regards the correctness of the orders of the inferior Tribunal. This is the basic difference between appellate and supervisory jurisdiction. Appellate jurisdiction confers a right upon the aggrieved person to complain in the prescribed manner, to a higher forum whereas, supervisory/revisional power has a different object and purpose altogether as it confers the right and responsibility upon the higher forum to keep the subordinate Tribunals within the limits of the law. It is for this reason that revisional power can be exercised by the competent authority/court suomotu, in order to see that subordinate Tribunals do not transgress the rules of law and are kept within the framework of powers conferred upon them. Such revisional powers have to be exercised sparingly, only as a discretion in order to prevent gross injustice and the same cannot be claimed, as a matter of right by any party. Even if the person heading the Tribunal is otherwise a "judicial officer”, he may merely be persona designata, but not a court, despite the fact that he is expected to act in a quasi-judicial manner. In the generic sense, a court is also a Tribunal, however, courts are only such Tribunals as have been created by the concerned statute and belong to the judicial department of the State as opposed to the executive branch of the said State. The expression ‘court' is understood in the context of its normally accepted connotation, as an adjudicating body, which performs judicial functions of rendering definitive judgments having a sense of finality and authoritativeness to bind the parties litigating before it. Secondly, it should be in the course of exercise of the sovereign judicial power transferred to it by the State. Any Tribunal or authority therefore, that possesses these attributes, may be categorized as a court.
Tribunals have primarily been constituted to deal with cases under special laws and to hence provide for specialised adjudication alongside the courts. Therefore, a particular Act/set of Rules will determine whether the functions of a particular Tribunal are akin to those of the courts, which provide for the basic administration of justice. Where there is a lis between two contesting parties and a statutory authority is required to decide such dispute between them, such an authority may be called as a quasi-judicial authority, i.e., a situation where, (a) a statutory authority is empowered under a statute to do any act (b) the order of such authority would adversely affect the subject and (c) although there is no lis or two contending parties, and the contest is between the authority and the subject and (d) the statutory authority is required to act judicially under the statute, the decision of the said authority is a quasi judicial decision.
An authority may be described as a quasi-judicial authority when it possesses certain attributes or trappings of a ‘court', but not all. In case certain powers under C.P.C. or Cr.P.C. have been conferred upon an authority, but it has not been entrusted with the judicial powers of the State, it cannot be held to be a court.

Sunday, 21 October 2012

Check your enrollment status


Guys Check your enrollment status, ICSI,DEC-2012 Exams :

 :http://www.icsi.in/enrollmentstatus/webform1.aspx


Admit Card for Dec, 2012 Exam will be available after:

20th Nov, 2012- for Foundation Programme

14th Dec, 2012- for all Other Students.

Method to increase ur productivity

Procrastination may feel like the human condition, but 

it doesn't have to. To get out of your own way and 

increase your productivity, try these three tactics:

    Set deadlines. Create a schedule with clear due 


dates for each task. Remind yourself by using visual 

cues: Set reminders in your calendar, add items to 

your to-do list, or put a sticky note on your computer

screen.
    

Ask for help. Ask a trusted colleague to review your 

work. Knowing that she's expecting it can spur you to

get started.

    Change your mind-set. Stop thinking of yourself as

 a procrastinator. See yourself — and talk about 

yourself with others —as someone who gets things done.

Tuesday, 16 October 2012

XBRL Filings of Financial Statements for F.Y. 2011-12 would be enabled w.e.f 14th October, 2012


FILING OF BALANCE SHEET AND PROFIT AND LOSS ACCOUNT IN EXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL) MODE FOR FINANCIAL YEAR COMMENCING ON OR AFTER 1-4-2011
GENERAL CIRCULAR NO. 16/2012, DATED 6-7-2012
It has now been decided by the Ministry to mandate the following select class of companies to file their Balance Sheet and Profit & Loss Account in XBRL mode for the financial year commencing on or after 1-4-2011:
 (i)  all companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; or
(ii)  all companies having paid up capital of Rupees five crore and above; or
(iii)  all companies having turnover of Rupees one hundred crore and above; or
(iv)  all companies who were required to file their financial statements for FY 2010-11, using XBRL mode.
However, banking companies, insurance companies, power companies and Non-Banking Financial Companies (NBFCs) are exempted from XBRL filing till further orders.
Additional Fee Exemption:
All companies referred to in Para-2 above, will be allowed to file their financial statements in XBRL mode without any additional fee/penalty upto 15th November, 2012 or within 30 days from the date of their AGM, whichever is later.

Wednesday, 26 September 2012

key to success


Once upon a time a very strong woodcutter asked for a job with a timber merchant, and he got it. His salary was really good and so were the working conditions. For that reason, the woodcutter was determined to do his best.

His boss gave him an axe and showed him the area where he was supposed to fell the trees. The first day, the woodcutter brought down 15 trees.

" Congratulations," the boss said. " Carry on with your work!"

Highly motivated by the words of his boss, the woodcutter tried harder the next day, but he only could bring 10 trees down. The third day he tried even harder, but he was only able to bring down 7 trees.

Day after day he was bringing lesser number of trees down.

" I must be losing my strength", the woodcutter thought. He went to the boss and apologized, saying that he could not understand what was going on.

" When was the last time you sharpened your axe?" the boss asked.
" Sharpen? I had no time to sharpen my axe. I have been very busy trying to cut trees..."

That's right. Most of us NEVER update our skills. We think that whatever we have learned is very much enough. But good is not good when better is expected. Sharpening our skills from time to time is the key to success