Risk Management and Inter Bank Dealings
RBI/2013-2014/446 A.P. (DIR Series) Circular No. 92 January 13, 2014 All Category - I Authorised Dealer banks Madam/Sir, Risk Management and Inter Bank Dealings Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 (Notification No. FEMA/25/RB-2000 dated May 3,… Read More
Tags: Anno Domini, Capital account, Categories of New Testament manuscripts, Contract, Foreign Exchange Management Act, Forward contract, General manager, Risk management
Defence Offset Policy
30% Offset clause in contracts having indicative cost of Rs. 300 crore or more is being signed in schemes that are categorised as Buy (Global). However, in specific cases depending on the type of acquisition / strategic importance of the acquisition, waiver of the requirement of Offset obligation is obtained from the… Read More
Tags: Carrier air wing, Contract, Defence Acquisition Council, Defence Ministry, DPP, India, Indian Air Force, Swiss Franc
NTPC subsidiary enters into agreement with KSEB
NTPC Vidyut Vyapar Nigam Limited (NVVN), a wholly owned subsidiary of NTPC Limited, has entered into a Power Purchase Agreement (PPA) with Kerala State Electricity Board (KSEB) for supply of 300 MW Round the Clock (RTC) power for a period of three years starting from 1st March 2014. The PPA was signed by Shri N.K.Sharma,… Read More
Tags: Chhattisgarh, Contract, Kerala, Kerala State Electricity Board, KSEB, NTPC Limited, PPA, Thiruvananthapuram
Clarification of Definition of MSE Owned by SC/ST Entrepreneurs
The Government introduced Public Procurement Policy for Micro and Small Enterprises (MSEs) Order, 2012 which is notified under MSMED Act 2006. The Public Procurement Policy mandates every Central Ministries/Departments/CPSUs to set an annual goal for procurement from the MSE sector from the 1st April 2012 with objective of achieving an overall procurement of minimum 20% of… Read More
Tags: Audit and Purchasing, Contract, Economy, Government, Government Procurement, MSE, Procurement, Public sector
DTAA with Monaco
NOTIFICATION NO. 43/2013 DATED 12/06/2013 SO 924(E) - Whereas an Agreement (hereinafter referred to as the said Agreement) between the Government of the Republic of India and the Government of the Principality of Monaco for the exchange of information relating to tax matters was signed at Monaco on the 31st day of July, 2012 ; And… Read More
Tags: Business and Economy, Collective investment scheme, Contract, India, Monaco, Public company, Ronaldo, Securities & Exchange Board of India
CBEC examines issues regarding difficulties faced in availing exemption in Oil Exploration Sector
Circular No. 21 /2013-Customs F.No.B1/20/2013 -TRU Government of India Ministry of Finance (Department of Revenue) Tax Research Unit ***** New Delhi, dated 16th May, 2013 To, All Chief Commissioners of Customs. All Chief Commissioners of Customs & Central Excise. All Chief Commissioners of Central Excise. Subject: Difficulties being faced in availing exemption relating to the… Read More
Tags: Contract, Government of India, India, Joint venture, New Delhi, New Exploration Licensing Policy, Subcontractor, Tax exemption
PM directs Planning Commission to formulate Draft Bill on Dispute Resolution in Public Contracts
The Prime Minister has tasked the Planning Commission to formulate a draft Bill on Dispute Resolution in public contracts in consultation with all stakeholders and Ministries. Dispute resolution in large public contracts is an area of growing concern and the Prime Minister has initiated the first steps in improving the institutional arrangement for dispute settlement.… Read More
Tags: Contract, Dispute resolution, India, Institution, Planning Commission, PPP, Public–private partnership, Purchasing power parity
Double Taxation Agreement between India & Gibraltar
SECTION 90 OF THE INCOME-TAX ACT, 1961 DOUBLE TAXATION AGREEMENT AGREEMENT FOR EXCHANGE OF INFORMATION WITH RESPECT TO TAXES WITH FOREIGN COUNTRIES GIBRALTAR NOTIFICATION NO. 28/2013[F.NO.503/11/2009-FTD-I], DATED 1-4-2013 Whereas, an Agreement between the Government of the Republic of India and the Government of Gibraltar for the Exchange of Information with respect to taxes was signed… Read More
Tags: Contract, Exchange of Information, Finance Minister, GIBRALTAR, Government of Gibraltar, Government of India, India, Tax treaty
Liquidated Damages to be payable irrespective of actual damages
The High Court of Delhi in its recent judgment in the case of Sudhir Gensets Ltd. v. Indian Oil Corporation Ltd., while interpreting Section 74 of the Indian Contract Act,1872, held that if a contract specifies the limit of liquidated damages that would be payable in the event of a breach, then the claimant is entitled… Read More
Tag: Contract
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