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Haryana Finance Corporation told to refund money
The Supreme Court (SC) last week asked the Haryana Financial Corporation to refund the amount received from a buyer of a defaulting unit as it had not disclosed certain vital facts to the buyer. The corporation had forfeited the amount when the buyer withdrew from the contract of sale. The SC stated in the case, Haryana Financial Corporation vs Rajesh Gupta, that a “mere perusal of the provisions of the Transfer of Property Act will show that it was incumbent upon the corporation to disclose to the buyer about the non-existence of an independent passage to the unit. It was also the duty of the corporation to inform the buyer that the passage mentioned in the revenue record was not fit for movement of vehicles. The corporation also failed to show the buyer the entire documentation as required by law.”

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PSUs fail to meet Sebi criterion on directors
Disinvestment plans likely to get delayed in 21 out of 43 listed companies

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'Data on I-T arrears must be analysed, retrievable by segment'
Income-tax arrears against assessees — of Rs 2,01,276 crore as on March 31, 2009 — have once again become an issue, as Parliament’s standing committee on finance has asked the Department of Revenue and the Central Board of Direct Taxes (CBDT) to put in place a Management Information System (MIS) within three months for collating and retrieving data concerning appeals, pendency disposal and recovery.
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Sun Pharma gains on HC order

Sun Pharma touched a high of Rs 1,459 and finally ended at Rs 1,436, up 2% from the previous close. The counter clocked volumes of 234,664 shares on the NSE today. - HC stops Zydus drug sale on Sun petition - Sun Pharma unit gets USFDA nod for anti-allergic drug - Zydus Cadila PAT up 39% - Caraco looking at shifting production to India - Sun Pharma accuses Taro director of misusing funds - Sun Pharma net profit dips 11.5% Cadila Healthcare erased all its losses and soared to a high of Rs 590. The scrip finally ended at Rs 589, up 3% from its previous close. The counter witnessed trades of 70,167 shares on the NSE. _________________________________________ (Updated at 1040hrs) Sun Pharma has gained after the Madras High Court has stopped Zydus Cadila (Cadila Healthcare) from selling anti-depressant drug, Venz (venlafaxine), in the domestic market for the time being, on the basis of the trademark complain lodged by the company. The stock opened at Rs 1,407 and soared to a high of Rs 1,423. The stock is now trading at Rs 1,422, up 1.5% from the previous close. The counter has clocked volumes of 4,058 shares on the BSE. Cadila Healthcare opened at Rs 560 and slipped to a low of Rs 557, down 2% from the previous close. The stock has however recoverd and is now at flat at Rs 570. The counter has clocked volumes of 1,428 shares on the BSE.


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