Ministry of Commerce & Industry  

Office of Controller General of Patents, Designs and Trade Marks (CGPDTM) initiates open house dialogue for IP Fraternity under the directions of the Commerce Minister (OCT, 2022)

Shri Piyush Goyal while addressing in the Valedictory Session of National Intellectual Property Conference 2022 on 'Strengthening IP Ecosystem for catalysing the growth of Knowledge Economy' on 15 Oct 2022 at New Delhi expressed his desire to have open house dialogue with the IP Fraternity by the office of Controller General of Patents, Designs and Trade Marks (CGPDTM) and address their concerns, grievances and facilitate the discussion on the changes required into the IP Ecosystem.

For Press Release, Click Here

KARNATAKA HIGH COURT 

Non-appearance of complainant no reason to dismiss a case: Karnataka high court (OCT 17, 2022)

The appeal was filed by Nagaraj from Kalaburgi. He filed a private complaint against Ishwar Kamalapur in a cheque-dishonouring issue. The case was pending before the JMFC court since 2013.  The accused did not appear before the trial court till 2018. On October 17, 2018 when the matter was posted for recording the plea, the JMFC dismissed the complaint for ‘non-appearance of the complainant.’ 

Nagaraj challenged this before the Sessions Court which allowed the case to continue. This was challenged by the accused before the High Court which allowed his plea. The complainant then filed a criminal appeal before the High Court.

For News Report, Click Here

BUSINESS NEWS 

OFI Global China Fund to sell 5.2 cr shares of Zee Entertainment to raise Rs 1396 cr (OCT 17, 2022)

The company has offered shares in the price band of Rs 250 to Rs 263.7 and there will be a lock-in period of 180 days on OFI post this stake sale. Kotak Securities Ltd will be acting as the sole broker for the deal.

Currently, investment firm Invesco, along with OFI Global China Fund LLC holds 11 percent stake in ZEEL. Invesco is the largest shareholder in ZEEL.

For Details, Click Here

NEWS AT GLANCE 

  • Pradhan Mantri Bhartiya Jan Urvarak Pariyojana - One Nation One Fertilizer scheme launched.  
  • 5th Assembly of International Solar Alliance to begin in New Delhi under India’s presidentship. 
  • Centre will amend Patent Law to make it simple, says Commerce and Industry Minister Piyush Goyal.  
  • CBI to question Delhi Deputy Chief Minister Manish Sisodia in connection with Excise Policy scam, today.

WORD OF THE DAY 

Asymmetric information, also known as "information failure," occurs when one party to an economic transaction possesses greater material knowledge than the other party. This typically manifests when the seller of a good or servicepossesses greater knowledge than the buyer; however, the reverse dynamic is also possible.

MARKET TODAY (as on 17.10.2022)

BSE SENSEX                 58,410.98 INR▲ +491.01 (+0.85%) 

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1 US Dollar = 82.12 Indian Rupee (Last updated · 17 October at 2:28 pm UTC)

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