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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MCA clairifies on the laws under which to take Action against Fraudulent Companies
Companies floating fraudulent investment deposits mobilizing schemes (also called ˜ponzi schemes™) under various guises are liable for action under the following laws: (i) The Prize Chits and Money Circulation Schemes (Banning) Act, 1978 administered by Ministry of Finance (Department of Financial Services) through the State Governments; and (ii) Section 11AA of the Securities and Exchange… Read More
Committee constituted for Inquiry into Wal-Mart lobbying issue
Inquiry into Wal-Mart™s Lobbying Activities A Committee, under Shri Justice Mukul Mudgal, former Chief Justice of Punjab and Haryana High Court has been constituted, vide Resolution dated 31.01.2013, with the following Terms of Reference: (i) To inquire into recent media reports on disclosures of Wal-Mart before the US Senate regarding their lobbying activities and details… Read More
Reserve Bank of India hosts the RBI-OECD-World Bank Regional Conference on Financial Education
Financial literacy and financial inclusion are integral to each other : Dr. D. Subbarao, Governor, Reserve Bank of India Reserve Bank of India hosts the RBI-OECD-World Bank Regional Conference on Financial Education at New Delhi Financial literacy and financial inclusion are integral to each other and are important because they are integral to attacking poverty.… Read More
Data on Free Trade Agreement with ASEAN
The details of countries with which India has entered into Free Trade Agreement (FTA) on services and investments including countries in the Association of South East Asian Nations (ASEAN) region during each of the last three years are given below:- S. No. Name of the Agreement Date of Signing Date of implementation 1. India - South Korea Comprehensive Economic… Read More
RBI clarifies on Information to be submitted by banks under Branch Authorisation Policy
RBI/2012-13/427 DBOD.No.BAPD.BC.82/22.01.001/2012-13 March 4, 2013 Phalguna 13 , 1934 (Saka) All Domestic Scheduled Commercial Banks (excluding RRBs) Madam / Dear Sir, Branch Authorisation Policy - Information to be submitted by banks along with Annual Branch Expansion Plan (ABEP) Please refer to our circular DBOD. No. BL. BC. 24/22.01.001/2011-12 dated July 15, 2011, wherein banks were advised,… Read More
Representations to remove the ban on retail trading through e-commerce received
Ban on FDI in Retail E-commerce Business Some representations to remove the ban on retail trading through e-commerce have been received. As per the extant Foreign Direct Investment (FDI) policy, FDI, up to 100%, is permitted under the automatic route, in business-to-business e-commerce. Retail trading, in any form, by means of e-commerce, is not permissible… Read More
MoC clarifies conditions with respect to FDI in Retail
Government announced the decision to permit FDI, up to 51%, in multi-brand retail trading, vide Press Note No. 5 (2012 Series) dated 20.9.2012, subject to the following conditions: (i) FDI in multi brand retail trading upto 51% shall be allowed through the Government approval route. (ii) Minimum amount to be brought in, as FDI, by… Read More
GoI clarifies Sourcing Requirements of FDI in Retail
Government announced the decision to permit FDI, up to 51%, in multi-brand retail trading, vide Press Note No. 5 (2012 Series) dated 20.9.2012, subject to specified conditions, including, inter-alia, the following: At least 30% of the value of procurement of manufactured/ processed products purchased shall be sourced from Indian `small industries` which have a total… Read More
India and Portugal Sign Social Security Agreement
A Social Security Agreement (SSA) was signed by Shri Vayalar Ravi, the Minister of Overseas Indian Affairs and Mr. Paulo Sacadura Cabral Portas, Minister of State of Foreign Affairs of Portugal here today. Speaking on the occasion, Shri Ravi said about 75,000 Indians are leaving in Portugal, most of them are working as professionals and… Read More
Agenda of 57th BoA SEZ Meeting to be held on 15th March, 2013
Agenda for the 57th meeting of the Board of Approval to be held on 15th March, 2013, in the Room No. 47, Udyog Bhawan Item No. 57.1: Proposals for setting up of SEZs S. Name of the Location Sector Area Land SGR* Status of No Developer (in ha) Possession application … Read More
MCA issues clarification on “adequacy” of Debenture Redemption Reserve
Circular No. 4/2013 No. 11/02/2o12-CL-V (A) Government of India Ministry of Corporate Affairs 5th floor 'A'Wing' Shastri Bhavan, Dr. R.P. Road, New Delhi. Dated: 11.02.2013 To All Regional Directors All Registrars of Companies All Chambers of Commerce The Reserve Bank of India The Securities and Exchange Board of India Subject: Debenture Redemption Reserve (DRR)- Clarification. Sir, The… Read More
Central Board of Direct Taxes directs new Income-Tax Authority
MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION No. 15/2013 Income-Tax New Delhi, the 26th February, 2013 S.O. 460(E).-In exercise of the powers conferred by Section 118 of the Income-taxAct,1961(43 of 1961), the Central Board of Direct Taxes hereby directs that the income-tax authority specified in column (3) of the Schedule below shall be subordinate to the… Read More
Jurisdiction of income-tax authorities
MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION No. 16/2013 Income Tax New Delhi, the 26th February, 2013 In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the Director General of Income-tax… Read More
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