Others - Corporate Law Reporter

Modification in Forest Clearance Norms

The Ministry of Environment and Forests (MoEF) vide letter dated 01.02.2013 informed the all State/ Union Territory Governments as below: (i) Henceforth, in case of mining leases having forest land in part or in full, approval under the Forest (Conservation) Act, 1980 (FC Act) for diversion of entire forest land located within the mining lease… Read More

New Foreign Contribution Regulation ACT Messaging System

A new FCRA Messaging System has been set up within the online FCRA System at www.fcraonline.nic.in to facilitate speedy and assured communication between Ministry of Home Affairs, (Foreigners Division FCRA) and NGOs. Presently, this FCRA Messaging System is available / accessible to NGOs who have applied for FCRA registration online and to registered NGOs. The… Read More

Defence Export Policy

The Government does not have a separate Defence Export Policy. The Export and Import Policy along with the conditions thereof is available in the ITC (HS) Classification of Export and Import items as published by Department of Commerce. The same can be accessed on the DGFT website at www.dgft.gov.in. Schedule 2 of the ITC (HS)… Read More

ICAI perspective on the Economic Survey 2012-2013

The Institute of Chartered Accountants of India (ICAI) welcomes the Economic Survey 2012-13 which shows that although the economy exhibited moderate growth rate during 2012-13 but its growth rate is much higher and better than the global growth rate and growth rate achieved by developed economies. The ICAI is sure that with strong economic fundamentals,… Read More

MoF Communique on Tax Residency Certificate and proposed amendments to Indian Income Tax Act

Mauritius has taken note of the measures announced by the Indian Minister of Finance, the Honourable P. Chidambaram, during the presentation of the 2013-14 budget to the Indian Parliament on Thursday 28 February 2013. The Minister announced, amongst others, that the Indian Income Tax Act would be amended to provide that Tax Residency Certificate (TRC)… 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

CCGRT (ICSI) jointly with IMC organises a full day program on Growth Outlook for MSMEs in India

Background: Small and Medium Enterprises play an important role as a growth engine of Indian economy. SMEs produce 40% of the total industrial output, contribute 40% of total exports and provide 70% of the employment opportunities. SMEs are the driving force behind a large number of innovations and contribute to the National growth through employment… Read More

Centre notifies award of the Cauvery Water Disputes Tribunal

Cauvery Water Disputes Tribunal The Centre has notified the award of the Cauvery Water Disputes Tribunal on 19.2.2013. Section 6 of the Inter State River Water Disputes Act, 1956 mandates the Central Government to publish the decision of the Tribunal in the Official Gazette. Therefore, in exercise of this power as well as on the… Read More

Special Focus on Green Revolution in 2013-14

Finance Minister Proposes Special Focus on Green Revolution in 2013-14; Outlay Increased to Boost Agriculture Production An allocation of Rs. 1000 crore has been proposed in the budget 2013-14 to continue support to the new green revolution in Eastern States like Assam, Bihar, Chhattisgarh and West Bengal to increase the rice production. An outlay of… Read More

Seven New Cities Planned on Delhi Mumbai Industrial Corridor

Seven New Cities Planned on Delhi Mumbai Industrial Corridor(DMIC) A Chennai Bengaluru Industrial Corridor Being Planned The Finance Minister, Shri P Chidambaram in his Budget speech in Lok Sabha today said that the Delhi Mumbai Industrial Corridor (DMIC) project has made rapid progress. Plans for seven new cities have been finalized and work on two… Read More

Government Announces Fund for Products Based on Science and Technology Innovations

Government plans to pay more attention to science and technology for common man. Ministry of Science and Technology, Ministry of Finance and the Principal Scientific Advisor to the Government have identified a few amazing S&T innovations and the Government has decided to fund organizations that will scale up and make these products available to the… Read More