Others - Corporate Law Reporter

The BRICS Trade and Economic Ministers reviewed the global economic situation & underscored the need for greater policy coordination to ensure a stable and thriving global economy

The BRICS Trade and Economic Ministers reviewed the global economic situation and noted with concern the continuing difficulty faced by many countries and underscored the need for greater policy coordination to ensure a stable and thriving global economy. In such a scenario, the Ministers emphasised the need to resist protectionist tendencies and to promote international… Read More

Telenor files a $14 billion lawsuit against Unitech

With the recent Supreme Court ruling regarding mobile phone service providers' licenses being revoked, aside from their own personal financial downfall in this case, some have it still worse than others. For example, Unitech, an Indian real estate company, who is tied to Norway™s major telecom provider, Telenor, and has been providing services in India… Read More

Interest Subsidy Scheme to provide full interest subsidy on educational loans taken by students belonging to economically weaker sections

Ministry of Human Resource Development has formulated an Interest Subsidy Scheme to provide full interest subsidy during the period of moratorium on educational loans taken by students belonging to economically weaker sections from scheduled banks under the Model Educational Loan Scheme of the Indian Banks™ Association (IBA) for pursuing any of the approved courses of… Read More

The Fourth BRICS Summit organised in New Delhi to start on 29th March 2012

India is hosting the Fourth BRICS Summit in New Delhi 29 March 2012. On the preceding day, i.e. tomorrow the trade Ministers of the five BRICS nations are meeting for the Second Trade Ministers Meeting. The First BRICS Trade Ministers meeting was held in Sanya, China on 13 April 2011 on the sidelines of the… Read More

Stringent regulation for the Multinational Accounting Firms

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Indian Chartered Accountant (CA) firms are regulated by the Institute of Chartered Accountants of India (ICAI) in terms of provisions of the Chartered Accountants Act, 1949 and the Rules and Regulations framed thereunder. Further, no… Read More

Approval to release an additional instalment of Dearness Allowance (DA) to Central Govt. employees and Dearness Relief (DR) to pensioners

The Union Cabinet gave its approval to release an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners w.e.f. 1.1.2012 representing an increase of 7% over the existing rate of 58% of the Basic Pay/Pension, to compensate for price rise. The increase is in accordance with the accepted… Read More

GOI & ADB signed a $240 million loan agreement for the third and final tranche of the second India Infrastructure Project Financing Facility

The Government of India (GOI), Asian Development Bank (ADB) and the India Infrastructure Finance Company Ltd (IIFCL) today signed a $240 million loan agreement for the third and final tranche of the second India Infrastructure Project Financing Facility (IIPFF II), which aims to stimulate infrastructure development through public-private partnership investments. The Facility was approved in… Read More

GOI & World Bank signed an IDA credit of US$ 152 million to help improve the efficiency, quality, and accountability of health services in the state of UP

Government of India and the World Bank signed an IDA credit of US$ 152 million to finance the Government of India`s (GOI) efforts to help improve the efficiency, quality, and accountability of health services in the state of Uttar Pradesh (UP), one of India™s low-income States with some of the poorest health indicators in the country.… Read More

SAFTA member countries urged to progressively liberalise their trade and investment policies to strengthen the overall trade and commerce

The main items of exports under South Asian Free Trade Area Agreement (SAFTA) are Cotton Yarns, Pharmaceuticals, Leather, Chemicals, Footwear Sole, Polished Granite Slabs, Green Marbles, Raw Jute, Steel Billets, Non-Alloy Steel, Groundnut and Dry Coconut. The main items of imports under SAFTA are Metalifers Ores & Metal Scrap, Fruits and Nuts excluding Cashew Nuts,… Read More

Insurance companies are mandated to take prior approval from the IRDA before launching of the product

The insurance companies are mandated to take prior approval from the Insurance Regulatory and Development Authority (IRDA) of the product before launching. As per File and Use Guidelines, the insurance companies are required to launch products after allowing for 60 days for non-life and 30 days for life for clearance by the IRDA. Several times,… Read More

Bilateral Trade between India & Zimbabwe shows an impressive growth from US $ 64.02 mn in 2006-07 to US $ 125 mn in the year 2010-11

The Union Minister of Commerce Industry and Textiles Shri Anand Sharma called on the Vice-President of Zimbabwe Mrs. Joice Mujuru, here today. Both the leaders expressed happiness at reaching Bilateral Trade of US $ 125 mn in Financial Year 2010-11, with India™s exports to Zimbabwe amounting to US $ 114 mn and imports from Zimbabwe… Read More

Union Minister for Commerce, Industry & Textiles invites Kenya to invest in the Textile sector via automatic route

Shri Anand Sharma, Union Minister for Commerce, Industry & Textiles met with the Trade Minister of Kenya Mr. Chirauli Mwakwere, here today. Shri Sharma during the meeting asked Kenya side about the investment opportunities in India and that equity participation up to 100% through automatic route is permitted in the textile sector. Minister also raised… Read More

Department of Commerce prepares to double India™s merchandise exports over the period 2011-12 to 2013-14

The Department of Commerce has prepared a Strategy Paper for doubling India™s merchandise exports over the period 2011-12 to 2013-14 from US $ 246 billion in 2010-11 to US $ 500 billion in 2013-14. The paper is available on the Department™s website (www.commerce.nic.in). An aggressive product promotion strategy for high value items that have a… Read More