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eMinds Legal Consulting Pvt. Ltd. is a Consulting Firm in India specialzing in Corporate Laws, Compliances, Secretarial, FEMA, Indirect Taxation, Cyber Laws & Contracts. The Firm comprises of a team of professionals of Company Secretaries, Lawyers and Chartered Accountants with an in-depth subject matter knowledge and participative industry experience of over 15 years.
Introduction of Credit Default Swaps (CDS) for Corporate Bonds: Change in effective date for operationalisation
RBI/2011-12/228 IDMD.PCD.No. 12/14.03.04/2011-12 The Chairmen & Chief Executive Officers of all Scheduled Commercial Banks (excluding RRBs), Standalone Primary Dealers and Non Banking Financial Companies Dear Sir/Madam, Introduction of Credit Default Swaps (CDS) for Corporate Bonds: Change in effective date for operationalisation A reference is invited to para 4 of the RBI circular of IDMD.PCD.No. 5053 /14.03.04/ 2010-11… Read More
SEBI- Formats for disclosures for acquisition and disposal of shares under Takeover regulations
To, All Registered Merchant Bankers All Recognized Stock Exchanges Dear Sir(s), Sub: SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (The Regulations) 1. This is in continuation of the circular No SEBI/CFD/DCR/SAST/ 1/2011/09/23 dated September 23, 2011 on the captioned Regulations wherein various formats for the reports/ disclosures to be filed were specified. The formats for disclosures for… Read More
Observance of Vigilance Awareness Week as Grievance Redressal Week
F.No. DGIT (Vig.)/PV/2010-11/VAP Date : 20.10.2011 To, All the CCsIT(CCA) Madam/Sir, Sub : Observance of Vigilance Awareness Week as Grievance Redressal Week - Reg. Ref : DO letter even number of DGIT (Vig.) dated 28.09.2011. Please refer to CVC Circular No. 09/07/11 dated 12.09.2011 and DO letter of DGIT (Vig) dated 28.09.2011 and accordingly the… Read More
CBDT PUBLISHES DISCUSSION PAPER ON TAX ACCOUNTING STANDARDS
No.402/92/2006-MC (26 of 2011) Government of India / Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi, dated the 20th October, 2011 PRESS RELEASE CBDT PUBLISHES DISCUSSION PAPER ON TAX ACCOUNTING STANDARDS The Central Board of Direct Taxes (CBDT) has made public the discussion paper on accounting standards, to be known… Read More
Penalty limitation period not curbed by Proviso to Section 275(1)(a)
Penalty limitation period not curbed by Proviso to Section 275(1)(a) CIT vs. Mohair Investment & Trading Co (Delhi High Court) S. 275(1) (a) provides that no order imposing penalty shall be passed after the expiry of six months from the end of the month in which the quantum order of the CIT (A) or Tribunal… Read More
Export of goods imported under reward schemes and DEPB
F. No. 605/49/2009-DBK Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Circular No. 45/2011-Cus. To All Chief Commissioners of Customs/ Customs (Preventive) All Chief Commissioners of Customs & Central Excise All Director Generals under CBEC, All Commissioners of Customs/ Customs (Preventive), All Commissioners of Customs & Central Excise.… Read More
RBI notifies Credit Default Swaps as a Derivative under RBI Act 1934
Notification of Credit Default Swaps as a derivative under Reserve Bank of India Act, 1934 All market participants Dear Sir/Madam, Notification of Credit Default Swaps as a derivative under Reserve Bank of India Act, 1934 Reserve Bank of India having considered it necessary in public interest and to regulate the financial system of the country… Read More
RBI clarification regarding repatriation of income and sale proceeds of assets held abroad by NRIs
RBI/2011-12/226 A.P. (DIR Series) Circular No. 37 To, All Banks Authorised to Deal in Foreign Exchange Madam / Sir, (i) Repatriation of income and sale proceeds of assets held abroad by NRIs who have returned to India for permanent settlement (ii) repatriation of income and sale proceeds of assets acquired abroad through remittances under Liberalised Remittance Scheme… Read More
RBI permits opening of FCNR account in any freely convertible currency
RBI/2011-12/225 A.P. (DIR Series) Circular No. 36 To, All Banks Authorised to Deal in Foreign Exchange Madam/Sir, Opening Foreign Currency (Non-Resident) Account (Banks) Scheme [FCNR(B)] account in any freely convertible currency liberalisation Attention of Authorised Dealer (AD) banks is invited to the Paragraph 2 of Schedule 2 to the Notification No.FEMA 5/2000-RB dated May 3, 2000,… Read More
Exim Bank’s Line of Credit of USD 27.50 million to the Government of the Republic of Senegal
To, All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 27.50 million to the Government of the Republic of Senegal Export-Import Bank of India (Exim Bank) has concluded an Agreement dated April 21, 2011 with the Government of the Republic of Senegal, making available to the latter,… Read More
NIFT & FIT New York Establishes Academic Linkages Dual Degree Programme Launched
A Dual Degree (UG Programmes) has been finalized between National Institute of Fashion Technology (NIFT) and Fashion Institute of Technology (FIT), New York. This implies that selected meritorious students from NIFT would avail the unique opportunity to obtain a joint Degree awarded both by NIFT & FIT. The association of two premier fashion institutes would… Read More
Guidelines on IRDA (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010
Many representations have been made by the insurers to allow a higher revival period to enable the policyholder to revive at a later stage and requests were also made to allow the insurer to levy fund management charge for managing the discontinued linked fund. In consultation with the industry, the Authority, in exercise of powers… Read More
Inclusion of Credit under KCC under direct financing for Agriculture
RBI/2011-12/224 RPCD.CO RRB. BC.NO.24 /03.05.33/2011-12 The Chairmen All Regional Rural Banks (RRBs) Dear Sir, Inclusion of Credit under KCC under direct financing for Agriculture Please refer to Para 1.1.3 of our circular RPCD.No.RRB.BC.20/03.05.33/2007-08 dated August 22, 2007 on lending to priority sector in terms of which working capital and term loans for financing production and investment requirements… Read More
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