MCA – LLP:
MCA has notified the New version of eForm 3 LLP (Information with regard to limited liability partnership agreement and changes, if any, made therein) is likely to be modified w.e.f 24th Nov 2015 between 09:00 PM to 10:00 PM. and the same have been uploaded on MCA21 Portal. Only new version of the eForm will be acceptable. Stakeholders are requested to plan accordingly and ensure that you have downloaded the latest version for filing and uploading the latest version only. Form-wise date of last version change is available at on the website of MCA.
CCI:
The Competition Commission of India (CCI) has imposed penalties upon 3 Airlines for concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo. The final order was passed by CCI on 17.11.2015 in a matter which was filed by Express Industry Council of India under section 19(1)(a) of the Competition Act, 2002 for alleging contravention of the provisions of section 3 of the Act which deals with anti-competitive agreements. The Commission noted that the Airlines acted in parallel in collusion in fixing FSC rates. Such conduct was found to have resulted in indirectly determining the rates of air cargo transport and thereby in contravention of the provisions of section 3(1) read with section 3(3)(a) of the Act. Accordingly, the penalty was imposed by the Commission @ 1% of their average turnover of the last three financial years. While imposing penalties, the Commission noted that such conduct in the air cargo industry undermines economic development of the country and ultimately acts to the detriment of end consumers.
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