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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India™s Foreign Trade: February, 2013
EXPORTS (including re-exports) Exports during February, 2013 were valued at US $ 26259.36 million (Rs. 141206.31 crore) which was 4.23 per cent higher in Dollar terms (13.99 per cent higher in Rupee terms) than the level of US $ 25194.42 million (Rs. 123873.66 crore) during February, 2012. Cumulative value of exports for the period April-February 2012 -13… Read More
Bill Introduced in the Lok Sabha for Setting UP Agricultural Biosecurity Authority
Agriculture and FPI Minister, Shri Sharad Pawar introduced a Bill in the Lok Sabha today to provide for establishment of an Authority for prevention, control, eradication and management of pests and diseases of plants and animals and unwanted organisms. The proposed legislation will ensure agricultural biosecurity of the country for common benefit and for safeguarding… Read More
RBI updates instructions/ guidelines on Classification and Reporting of Frauds
RBI/2012-13/433 UBD CO BPD (PCB) Cir. No.41/12.05.001/2012-13 March 08, 2013 Chief Executive Officer of All Primary (Urban) Co-operative Banks Madam / Dear Sir, Frauds- Classification and Reporting Please refer to our Master Circular UBD.CO.BPD. (PCB) MC No. 17/12.05.001/2012-13 dated July 02, 2012 advising the consolidation of our updated instructions/ guidelines on the captioned subject. 2.… Read More
RBI releases its monthly Bulletin for March 2013
The Reserve Bank of India today released the March 2013 issue of its monthly Bulletin. The Bulletin includes three special articles: (i) Developments in India's Balance of Payments during Second Quarter (July-September) of 2012-13; (ii) Position of Order Books, Inventories and Capacity Utilisation for the Quarters during October 2011 to September 2012; and (iii) Finances… Read More
Restraining for engaging in same line of business for 7 years is capital in nature and amounts to a depreciable intangible asset under the IT Laws
CLR Editorial Notes: In the present case, the appellant is a joint-venture between M/s. Sharp & L&T. Apparently, the agreement entered into with the L&T in view of the changed relationship ensures that the latter does not enter into the same business. The High Court of Delhi has held that has held that undoubtedly, it… Read More
Sanction of Scheme u/s 394 of Companies Act constitutes an “instrument” and “conveyance” within the meaning of the Stamp Act
CLR Editorial Notes: In the present case the aforementioned companies filed petitions before the High Court of Calcutta seeking exclusion of payment of stamp duty on transfer of properties pursuant to a sanction of Scheme under the Companies Act. The High Court of Calcutta has held that an order sanctioning a scheme of amalgamation or… Read More
Contribution of the Central Public Sector Enterprises to GDP and Central Exchequer
The share of ˜gross value addition™ in Central Public Sector Enterprises (net value addition + depreciation) as percent of Gross Domestic Product (at current market price) stood at 5.67 percent in 2011-12 against 5.44 percent in 2010-11. If, however, the under-recoveries of oil marketing companies (amounting to Rs. 55041 crore in 2011-12 and 37190 crore… Read More
12th Five Year Plan envisages expansion and strengthening of the public health systems through Universal Free Health Coverage
Establishing a universal health coverage system entails assured access to a defined essential range of medicines and treatment at an affordable price to each individual. In this direction, the 12th Five Year Plan envisages substantial expansion and strengthening of the public health systems both in rural and urban areas, with robust provision of primary health care. Several of… Read More
DPE wants respective Ministries to ensure continued fulfillment of Miniratna criteria
Status of Miniratna Central Public Sector Enterprises The Department of Public Enterprises under the Ministry of Heavy Industries and Public Enterprises has written to concerned 25 Ministries/ Departments on 20th December, 2011 requesting them to, inter-alia, ensure that the Miniratna Central Public Sector Enterprises (CPSEs) under their respective administrative control continue to fulfil the laid… Read More
IRDA reports over INR 3000 Cr unclaimed money, will not be appropriated or written back
Rs. 3096 Crore Unclamed Money in Insurance Sector The Insurance Regulatory and Development Authority (IRDA) has informed that the total unclaimed amount for the insurance industry, as reported by the insurers, in Rs. 3096.72 Crpre (as on 31.03.2012). Of this Rs. 2476.19 Crore is in Life Industry and Rs. 620.53 Crore in Non-Life industry. IRDA… Read More
PSBs advised to conduct E-Auction of immovable Properties under SARFAESI Act 2002
During the meeting of General managers (Recovery/Legal) of all Public Sector Banks (PSBs) held on November 1, 2012, PSBs were advised that all auctions of the immovable properties under ˜The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002™ be done through e-Auction with a view to conduct free, fair… Read More
30% Sebsidy on solar appliances under the Off-grid and Decentralized Applications Scheme
The Ministry of New & Renewable Energy under the Off-grid and Decentralized Applications Scheme of Jawaharlal Nehru National Solar Mission is providing a subsidy of 30% of the cost of solar lanterns, home lights, streets lights, solar water pumping systems and solar water heating systems. The subsidy is limited to Rs. 81 per Wp for… Read More
Proposal for introduction of E-Governance in Debts Recovery Tribunals
In order to enhance the efficiency of Debt Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs) and to provide a platform for seamless operations to Banks, Financial Institutions and general public to expedite recovery of public money, there is a proposal for introduction of e-governance in DRTs. The key objectives envisaged for the e-DRT… Read More
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