eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
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Rupee Export Credit – Interest Subvention
RBI/2013-14/200 DBOD.Dir.BC.No.43 /04.02.001/2013-14 August 26, 2013 All Scheduled Commercial Banks and Exim Bank (excluding RRBs) Dear Sir/ Madam, Rupee Export Credit - Interest Subvention Please refer to our circulars DBOD.Dir.BC.No.70/04.02.001/2012-13 dated January 14, 2013 and DBOD.Dir.BC.No.94/04.02.001/2012-13 dated May 24, 2013 wherein interest subvention of 2% was extended w.e.f. 01.04.2013 to 31.03.2014 on pre and post shipment rupee export credit… Read More
Food Security Bill to Provide Minimum Support Price to more Farmers
In the wake of the increased requirement of foodgrains for implementation of the proposed Food Security Act, procurement operations will be further extended and more farmers will get the benefits of MSP operations. Foodgrain requirement for the implementation of the bill is estimated 614.3 lakh tonnes as against the existing requirement of 563.7 lakh tonnes… Read More
State-Wise Population Coverage Under Food Security Ordinance
The National Food Security Ordinance, 2013, promulgated on 05.07.2013, provides for coverage of upto 75% of the rural andupto 50% of the urban population, at the all India level, to receive 5 kilograms of foodgrains at subsidized prices under Targeted Public Distribution System, provided that households covered under Antyodaya Anna Yojana will be entitled to 35 kilograms per household per month. The annual requirement… Read More
The Institute of Company Secretaries of India Launches Placement Portal for Members and Corporates
The Institute of Company Secretaries of India (ICSI) has launched a Placement Portal for its Members and the Corporates. The President of the Institute, Shri S.N. Ananthasubramanian yesterday launched the Placement Portal. The portal provides free of cost online platform for Corporates and Members of ICSI seeking jobs. Corporates looking for Company Secretaries can register… Read More
More than 40 crore aadhaar numbers generated till date
Unique Identification Authority of India, UIDAI has reiterated that the target of 60 crore Aadhaar enrolments will be achieved by 2014. More than 40 crore 29 lakh Aadhaar numbers have been issued till date and the process is continuing at a healthy pace. Only in the month of July, 2013, about Two Crore Aadhaar numbers have been generated. It has also announced the setting up of… Read More
National Policy to Save Water
Government of India has formulated the National Water Policy, 2012 wherein several recommendations have been made for conservation, development and management of water resources in the country. The Salient Features of the National Water Policy, 2012 are Annexed. Ministry of Agriculture has informed that in order to address the adverse impact involving economic and ecological situations… Read More
Allocation for Twelfth Five Year Plan for State Sector Schemes of Ministry of Water Resources
Planning Commission has indicated an outlay of Rs. 18118 crore for Central Sector Schemes and Rs. 91435 crore for State Sector Schemes of Ministry of Water Resources for Twelfth Five Year Plan. Ministry of Water Resources has prepared schemes in this regard which are at different stages of approval. The Ministry of Water Resources ensures performance of Plan schemes in tandem with… Read More
Spending on Corporate Social Responsibility by Companies
There is no provision for Corporate Social Responsibility (CSR) spending by companies in the present company law i.e. Companies Act, 1956. However, the new Companies Bill, 2012 has a provision of CSR under Clause 135 which states that every company having net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore… Read More
Investigations by the Serious Fraud Investigation Office
The Serious Fraud Investigation Office (SFIO), which is a multi-disciplinary organization under the Ministry of Corporate Affairs, has investigated 55 cases of serious fraud during the last 3 years i.e. 2010-11. 2011-12 and 2012-13. Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, informed… Read More
Cases of Fraud and Cheating by the Chit Fund Companies
˜Chit Fund™ companies indulging in cheating of investors are to be proceeded against under the Chit Funds Act 1982 and the Prize Chits & Money Circulation Schemes (Banning) Act, 1978 under which investigations are to be carried out by the State Police authorities. Giving this information in written reply to a question in the Lok… Read More
Scrutiny of NBFCs to Determine that they are not Crossing their Mandate
The Ministry of Corporate Affairs has recently forwarded a list of 34,754 companies which are registered under the Companies Act, 1956 and classified / categorised as Non- Banking Financial Companies (NBFCs) in the records of Ministry of Corporate Affairs and these companies may be carrying on Non-Banking Financial Institution (NBFI) activities without mandatory registration as… Read More
Gross Non-Performing Assets of Public Sector Banks
As per provisional data received from the Reserve Bank of India (RBI), the Gross Non-Performing Assets (NPAs) of Public Sector Banks (PSBs) as on 30th June 2013 was Rs. 1,76,009 crore. The Gross NPAs of PSBs were Rs. 1, 12,489crore in March 2012 and Rs. 1, 55,890 crore in March, 2013. Although the Non-Performing Assets (NPAs) of the bank has shown a… Read More
Measures to Check the Incidents of Vanishing Companies
Presently, there are 87 companies falling under the category, Vanishing Companies. Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that the FIRs have been lodged against all 87 companies and their Directors to trace their whereabouts and also to take action under… Read More
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