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Articles by eMinds Legal

CCI imposed penalty on 27 film producers for cartel formation

The Competition Commission of India (CCI) today imposed a penalty of Rs one lakh each on 27 film producers on charges of colluding through a cartel to exploit theatre owners. The CCI imposed the fine on filmmakers after having found them guilty of entering into anti-competitive agreement. The issue pertains to the strike in 2009… Read More

Tags: cciCompetition Commission

Expect Tighter norms for reporting and monitoring of interest rate and forex derivatives : RBI

In order to improve transparency and avoid build up of a financial crisis, a Reserve Bank panel today suggested tighter norms for reporting and monitoring of interest rate and forex derivatives. The report of the Working Group set up by the Reserve Bank suggested that Clearing Corporation of India (CCIL) should be made the repository… Read More

LLP Firms cannot act as Statutory Auditors

In a sweeping circular by MCA, LLPs have been defined as Body Corporate for the limited purpose of clause (a) of sub- section 3) of section 226 of the Companies Act, 1956. Section 226 of the Companies specifies Qualifications and disqualifications of auditors. As per Sec 226, a person shall not be qualified for appointment as auditor… Read More

Tag: LLP

DTAAs to be amended to check black money

Finance Minister Pranab Mukherjee Tuesday exuded confidence that modified tax avoidance agreements with various countries and pacts with tax havens will help in dealing with the menace of black money. "Income Tax Department is engaged in ways to tackle with black money," he told reporters on the sidelines of an income tax conference here. He… Read More


Government should not withdraw DEPB scheme :PHDCCI

The government should not withdraw tax refund DEPB scheme, which is ending in June, as it will make exports uncompetitive and would affect the growth momentum, industry body PHD Chamber said today. Exporters get refund of duties on import content of their export products. It costs the exchequer about Rs 8,000 crore per annum. "If… Read More

Tag: DEPB Scheme


Organized by Western India Regional Council of ICSI And Hosted by Pune Chapter of WIRC of ICSI Dates for the Competition a. Regional Level Saturday, June 18, 2011 at the office of respective Regional Council b. National Level - Saturday, July 2, 2011 at Pune at Regional Students™ Conference of WIRC of ICSI Rules for… Read More

Sharma to take up Extension of DEPB scheme with FM

Making out a case for extension of the popular incentive scheme - DEPB - for Indian exporters, Commerce Minister Anand Sharma today said he will take up the issue with Finance Minister Pranab Mukherjee on his return to New Delhi. "I am one who is not subscribing to this view that our exports have reached… Read More

Tag: DEPB Scheme

MCA 21 site relaunched with a New Look

The Minsitry of Corporate Affairs (MCA) site has been relaunched today with a new look and feel which is much more cleaner & colorful. The Minstry has been keeping vibrant these days with the Green initiatives and this seems to be a feather in the cap. Good Job MCA.          … Read More

Lifting of ban on Wheat and Rice after the proposed National Food Security Act

Agriculture Minister Sharad Pawar today said the government will take a final view on lifting the export ban on wheat and non-basmati rice after assessing foodgrains requirement under the proposed National Food Security Act. Last month, Pawar had said that the government should give a serious thought on allowing export of wheat and non-basmati rice,… Read More

Assocham calls for Lifting of ban on raw cotton exports

Industry body Assocham today called for lifting of the ban on raw cotton exports following a 40 per cent decline in cotton prices during the past one-and-a-half month, to protect farmers interests across the country. "The government must allow cotton exports immediately or those holding stocks will have to bear heavy losses. Traders will not… Read More

2G case : 5 Corporate honchos in Jail

Five corporate honchos, including Unitech Group MD Sanjay Chandra and Group MD of Reliance ADAG Gautam Doshi, will remain in jail in the 2G case with the Delhi High Court today dismissing their bail pleas, saying "the gravity of offence itself is sufficient to deny bail". Besides Chandra and Doshi, Justice Ajit Bharihoke also rejected… Read More

Tag: 2G scam

Security Feature to be added in Currency Notes

The government today said it is working towards introducing security features in currency notes across all denominations to check the menace of counterfeiting. "Counterfeiting of our currency is a matter of great concern for the government... to check this menace of fake currency, an exercise for introduction of security features in all denominations of Indian… Read More

Prime Minister™s address at release of Report to The People 2010-11

Following is the address of the Prime Minister, Dr. Manmohan Singh at release of Report to the People 2010-11: We are meeting here again to present our Report to the People. I have viewed this initiative as a symbol of our commitment to transparency and accountability in governance. The United Progressive Alliance has offered seven… Read More

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