Shantanu - Corporate Law Reporter

External Commercial Borrowings (ECB)

RBI/2011-12/340 A. P. (DIR Series) Circular No.64 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000, amended from time… Read More

Clarification on Interest Rates on Small Savings Schemes

Ministry of Finance has clarified that although the rate of interest on small savings schemes will be aligned every year with rates of Government securities of similar maturity, with suitable spread, the rates are fixed and not floating so far as individual investments except PPF are concerned. This is in response to news items appearing… Read More

Amends Notifications no. 03/2006-Central Excise and 6/2006-Central Excise both dated 1st March, 2006

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 1/2012-Central Excise G.S.R. (E).-In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby directs that each… Read More

Implementation of Section 51-A of UAPA, 1967 – Splitting of UNSC 1267 Committee’s list of individuals and entities linked to Al-Qaida and Taliban

RBI/2011-12/338 RPCD.CO.RCB.AML.BC.No 52/07.02.12/2011-12 The Chairmen / CEOs of all State and Central Co-operative Banks Dear Sir, Implementation of Section 51-A of UAPA, 1967-Splitting of UNSC 1267 Committee's list of individuals and entities linked to Al-Qaida and Taliban Please refer to the UN Security Council's 1267 Committee™s Consolidated List of individuals and entities linked to Al-Qaida… Read More

Issue of Acknowledgement of Loan Applications to MSME borrowers

RBI/2011-12/337 RPCD.MSME & NFS. BC. No. 53/06.02.31/2011-12 The Chairman/Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir Issue of Acknowledgement of Loan Applications to MSME borrowers Please refer to paragraph 2 (b) of Circular DBOD.Leg.No.BC.104/09.07.007/2002-03 dated May 5, 2003 on 'Guidelines on Fair Practices Code for Lenders' wherein banks were advised… Read More

Manner of increasing minimum public shareholding to comply with Securities Contracts Regulation (Rules), 1957

PR No. 2/2012 SEBI Board Meeting The SEBI Board met today and took the following decisions: 1. Manner of increasing minimum public shareholding to comply with Securities Contracts Regulation (Rules), 1957 The following additional methods viz. Institutional Placement Programme (IPP) and Offer for Sale of Shares through the stock exchange for the purpose of compliance with… Read More

SEBI-Changes in Re-investment period of FII debt limit

CIR/IMD/FIIC/1/2012 To All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/Madam Sub: Changes in Re-investment period of FII debt limit 1. Please refer to para 2 of SEBI circular Cir No. IMD/FII&C/30/2008 dated July 04, 2008 and para 6 of circular CIR/IMD/FIIC/18 /2010 dated November 26, 2010, relating to facility provided for FIIs for… Read More

Central Government issues Notification to Provide average Rates of Service Tax Refund for a wide Range of Goods Exported from India; Adds to E-Enabled Service Delivery to Exporting Community, Limits Public interface and Reduces Transaction Costs in obtaining Refunds

The Central Government has issued a notification today to provide average rates of service tax refund, ranging from 0.03% to 0.20% of the F.O.B. value of export, for a wide range of goods exported from India. The average rate of refund is in respect of 18 identified services used beyond the factory gate. This is… Read More

Negotiated Dealing System (NDS) Order Matching (OM) Grant of membership to UCBs

RBI/2011-12/335 UBD. BPD (PCB) No.17/12.05.001/2011-12 Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir / Madam, Negotiated Dealing System (NDS) Order Matching (OM) Grant of membership to UCBs Please refer to circular UBD.BPD. (PCB). Cir. No. 24 /12.05.001/2010-11 dated November 16, 2010 in terms of which all licensed UCBs, other than those under all inclusive Directions… Read More

Implementation of Section 51-A of UAPA, 1967 Updates of the UNSCR 1267(1999) and 1989( 2011) Committee’s Al Qaida Sanctions List

RBI/2011-12/336 DBOD. AML. No. 9855 /14.06.001/2011-12 The Chairmen / CEOs of all Scheduled Commercial Banks (Excluding RRBs)/Local Area Banks / All India Financial Institutions Dear Sir, Implementation of Section 51-A of UAPA, 1967 Updates of the UNSCR 1267(1999) and 1989( 2011) Committee's Al Qaida Sanctions List Please refer to our circular DBOD. AML. BC. No. 70 /14.06.001/2011-12 dated… Read More

The Companies (Accounting Standards) Amendment Rules,2011

Government of India Ministry of Corporate Affairs Notification New Delhi GSR: -In exercise of the powers conferred by clause (a) of sub-section (1) of the Section 642 read with sub-section (1) of Section 210A and sub-section (3C) of Section 211 of the Companies Act, 1956 (1 of 1956), the central government in consultation with the… Read More

Tariff Values of Edible Oils, Brass Scrap (all Grades) and Poppy Seeds Notified

Central Board of Excise and Customs (CBEC), Department of Revenue has issued a Notification No.89/2011-Customs (N.T.) dated December 30, 2011 and thereby notifying tariff values of edible oils, brass scrap (all grades) and Poppy seeds as shown in the table below. T A B L E S.No.… Read More

The Companies (Accounting Standards) (Second Amendment) Rules,2011