Others - Corporate Law Reporter

Transfer Pricing – The Changing Dynamics

I would like to take this opportunity to inform and invite you to our upcoming Business Program Transfer Pricing- The Changing Dynamics 2012 with our Knowledge Partner Deloitte scheduled in the cities of Mumbai, New Delhi, Bengaluru and Chennai on 1st June, 8th June, 15th June and 22nd June 2012 respectively. Increasing globalization has opened… Read More

Finance Minister Shri Pranab Mukherjee to attend the 45th Annual Board of Governors™ Meeting at Manila

The Union Finance Minister Shri Pranab Mukherjee will leave for two day official visit to Manila on the evening of 3rd May, 2012 to attend Asian Development Bank™s (ADB™s) 45th Annual Board of Governors™ Meeting. The Finance Minister Shri Mukherjee will attend the Opening Session of the Board of Governors on the morning of 4th… Read More

Fin Min says, Asia will continue to grow rapidly only if the people are empowered with skills and capabilities that will enable them shape their own lives

The Union Finance Minister, Shri Pranab Mukherjee said that if Asia has to continue growing rapidly, its path of development needs to be inclusive and people need to be empowered with skills and capabilities that will enable them shape their own lives. The Finance Minister said that we believe in sustaining high and inclusive growth… Read More

Rural villages to have ATMs soon

A Task Force headed by Shri Nandan Nilekani in its report on Aadhaar Enabled Unified Payment Infrastructure has envisioned an interoperable network of 10 lakh Business Correspondent Agents utilizing Micro-ATMs to cover the entire country for Financial Inclusion and Electronic Benefit Transfer (EBT). The report has inter-alia recommended transfer of payments from Government and Government… Read More

Stringent ECB and FDI norms for investment in the Housing projects

FDI is not permitted in Real Estate Business. However, as per paragraph 6.2.11 of ˜Circular 1 of 2012 Consolidated FDI Policy™ of the Department of Industrial Policy & Promotion (DIPP), FDI upto 100 per cent is permitted under the automatic route for Townships, housing, built-up infrastructure and construction development projects (which would include, but not… Read More

Share of services sector in the GDP rises to 59%

The share of services sector in country™s Gross Domestic Product (GDP) has risen from 50.4 per cent in 2000-01 to 59.0 per cent in 2011-12 (advance estimates). Industrial growth has been antidote to poverty as the sector has general additional employment of 36.1 million as per Usual Principal and Subsidiary Status (UPSS) basis during 1999-00… Read More

Revised Model Educational Loan Scheme now includes students from minority communities

India Banks™ Association (IBA) has circulated revised Model Educational Loan Scheme to its member banks. Banks can adopt the scheme with discretion to make changes as deemed fit. The scheme is for all students including students from minority communities. Indian Nationals who have secured admission to professional/technical courses in India or abroad through an entrance… Read More

Chairperson of CCI participated in the session of Merger Working Group, sharing the experience in introducing the merger review process

International Competition Network (ICN), a network of Competition Authorities across the world, has organized its Eleventh annual conference in Rio de janerio, Brazil during April 17-20. Shri Ashok Chawla , Chairperson, Competition Commission Of India (CCI), participated in the plenary session of Merger Working Group and shared India™s experience in introducing the merger review process… Read More

Union Minister of Commerce, Industry and Textiles requested Qatar to supply immediate requirement of 3 million tons of LNG to India

The Union Minister of Commerce, Industry and Textiles, Shri Anand Sharma has requested Qatar to supply immediate requirement of 3 million tonnes of LNG to India. The LNG is to be imported by Petronet LNG Ltd and GAIL. The amount will further increase to 15 million tonnes in the next three to four years. The… Read More

FinaCommunique issued after two days Meeting of G-20 Finance Ministers and Central Bank Governors in Washington DC

1. We, the G20 Finance Ministers and Central Bank Governors, met to assess progress on the fulfillment of the mandates given to us by our Leaders and to address ongoing economic and financial challenges and promote robust growth and job creation. 2. Recent economic developments point to the continuation of a modest global recovery, supported… Read More

Fin Min at a meeting with US delegates says no tax cases can be opened beyond 6 years at a meeting with US delegates

The Union Finance Minister, Shri Pranab Mukherjee said that the relations between India and the United States have evolved in recent years into a global strategic partnership, based on shared values and increasing convergence of interests on regional and global issues. He said that relations between two countries has deepened and grown across a broad… Read More

Aviation sector allowed to avail of ECBs for a period of 1 yr for working capital/refinancing of outstanding working capital rupee loan(s)

The rapid growth of the Aviation sector in India has generated demand for additional finance for working capital and capacity expansion. High operating costs, particularly on account of high fuel costs, have put additional stress on the Airline Industry. In order to alleviate the immediate financing concerns of the Civil Aviation sector, Union Finance Minister,… Read More

Liberalization of the ECBs for refinancing of the Rupee debt for the power sector

Infrastructure development holds the key to India™s economic growth. Currently, since September 23, 2011, Indian companies in the infrastructure sector are permitted to utilise 25 per cent of the fresh ECB raised by them towards refinancing of the domestic Rupee loan (s) under the approval route. In view of the increasing capital requirement of the… Read More