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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Launch of Government to Business (G2B) Portal
As a part of Government`s initiative to improve the business environment and the ease of doing business in the country, the Department of Industrial Policy & Promotion, Ministry of Commerce & Industry launched the eBiz portal on 28.01.2013 comprising Licenses and Permits Services component that will allow business users to obtain a customized list of… Read More
Court duty bound to provide relief when called upon – is open to exercise jurisdiction, under Article 226
CLR Editorial Note: When the Constitution confers on the High Court the power to give relief, it becomes the duty of the court to give such relief and that the existence of an alternative remedy is not always a sufficient reason for refusing a party quick relief by way of a writ. Jurisdiction under Article 226… Read More
Highlights of Railway Budget 2013-14
67 new Express trains to be introduced 26 new passenger services, 8 DEMU services and 5 MEMU services to be introduced Run of 57 trains to be extended Frequency of 24 trains to be increased First AC EMU rake to be introduced on Mumbai suburban network in 2013-14 72 additional services to be introduced in… Read More
Rail Budget – Marginal Increase in Some Charges, Enhanced Reservation Fee Abolished
The Minister of Railways Shri Pawan Kumar Bansal has announced to effect marginal increase in some charges which are in the form of compensation for cost actually incurred by Railways in rendering relevant services. While presenting Railway Budget for 2013-14 in Parliament today he said that the charges have not been revised for last… Read More
Rail Budget – Thrust on Safety, Consolidation, Improving Passenger Amenities and Fiscal Discipline
Rail Budget Lays Thrust on Safety, Consolidation, Improving Passenger Amenities and Fiscal Discipline Operating Ratio Likely to Improves to 87.8% In 2013-14 Highest Ever Plan Outlay of Rs. 63,363 Crore Increase in Passenger Fare Absorbed 10 Year Perspective Plan to be Taken up on Safety E-Ticketing Through Mobile; Sms Alert to Passengers For Reservation Update… Read More
Restriction on Issue of Cheques from Saving Bank Accounts
Reserve Bank of India (RBI) has issued a Master Circular dated 02.07.2012 on ˜Customer Service in Banks™ which, inter-alia, provides that banks may issue cheque books with larger number of leaves (20 or 25) if a customer demands the same and also ensure that adequate stocks of such cheque books (20 / 25 leaves) are… Read More
Disinvestment proceeds to be credited to the existing public account for Capitalising Public Sector Banks
The Government has decided that the disinvestment proceeds with effect from the fiscal year 2013-14 will be credited to the existing public account under the head National Investment Fund (NIF) and will be used for subscribing to the shares being issued by the Central Public Sector Enterprises (CPSEs) including Public Sector Banks (PSBs) and Public… Read More
IRDA taking initiatives to educate consumers against mis-selling of insurance products and unfair business practices of Insurance Companies
Mis-Selling of Insurance Products and Unfair Business Practices of Insurance Companies; Implementing the Integrated Grievance Management System (IGMS) The Insurance Regulatory and Development Authority (IRDA) has informed that following initiatives have been put in place to educate the consumers against mis-selling of insurance products and unfair business practices of Insurance Companies:- Publicity in English, Hindi… Read More
Guidelines for Granting Licences to Start Private Banks
The Reserve Bank of India (RBI) has finalized guidelines for granting licences to start banks in private sector. Vide its Press Release dated 22.02.2013, the RBI has released its Guidelines for Licences of New Banks in the Private Sector. Key features of the guidelines include eligible promoters; ˜fit and proper™ criteria; corporate structure of the… Read More
Trading of Foreign Exchange by Nationalized Banks
Reserve Bank of India (RBI) has informed that nationalized banks are allowed to trade in foreign exchange. The details of profit / loss of nationalized banks by trading in foreign exchange operations during the financial year 2009-10, 2010-11 and 2011-12 are at Annex. This was stated by the Minister of State for Finance, Shri Namo… Read More
TRAI releases Consultation Paper on ˜Review of Tariff for National Roaming™
Telecom Regulatory Authority of India (TRAI) releases Consultation Paper on ˜Review of Tariff for National Roaming™ The tariff for National Roaming Services was last specified by the Authority through Telecommunication Tariff Order (44th Amendment) dated 24th January, 2007. In view of the changes in regimes governing some of the cost components which formed part of… Read More
TRAI directs all MSOs and LCOs in notified Digital Addressable Cable TV Systems areas to implement Subscriber Management Systems
TRAI issues Directions to all the registered MSOs and their linked LCOs operating in notified DAS areas regarding implementation of Subscriber Management Systems. TRAI has issued Directions to multi system operators (MSOs) and their linked local cable operators (LCOs), providing cable TV services in the notified Digital Addressable Cable TV Systems (DAS) areas, covered under… Read More
RBI advises all UCBs to complete the process of risk categorization and compiling of all existing customers by March-end 2013
KYC Norms /AML Measures - CFT/ Obligations of Banks PMLA, 2002 RBI/2012-13/420 UBD CO PCB Cir.No.37/14.01.062/2012-13 February 25, 2013 The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir, Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Measures - Combating of Financing of Terrorism (CFT) / Obligations of Banks under Prevention of Money… Read More
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