SEBI investigations reveal scam where seven global depository receipts (GDR) were issued between 2003 and 2009, without bringing back any foreign exchange into India against them; RBI may decide penalty on account of possible FEMA violation [Mint]
CCI plans to start posting case details of pending investigations on it’s website, next month onward; Aims to encourage whistleblowers to reveal inside information to be used as evidence in investigations [ET]
Smaller FIIs point out that exempting P-notes, but not FIIs, from GAAR is inconsonant with India’s regulatory policy which otherwise discourages P-notes; FIIs say they have not used P-notes because of such regulatory policy in the last eight years [Business Standard]
SC selects eight additional and district sessions judges from Delhi to train Maharashtra, Rajasthan and Gujarat judges on alternative dispute resolution as a means to reduce mounting case pendency; Delhi solves 81 per cent cases in the year ending May 31 through mediation [DNA India]
US judge Posner dismisses Apple’s claim of patent infringement against Google, “with prejudice”, barring either side to attempt to prove damages again; Posner’s opinion exposes that dispute was ‘pathological and pointless’ and a ‘a gross abuse of intellectual property law that uses the courts as tools for gaining competitive advantage’ [Guardian]