Others - Corporate Law Reporter

14 Bills introduced during the Monsoon Session

The Monsoon Session, 2011 of Parliament which commenced on Monday, the 1st of August, 2011, concluded on Thursday, the 8th of September, 2011. The Session provided 26 sittings spread over a period of 39 days. During the Session, Supplementary Demands for Grants (General) for 2011-12 and the related Appropriation Bill, was discussed and passed by the Lok Sabha.… Read More

Custom & Excise duty reduced on petro products

With effect from 25thJune, 2011, the Central Government has reduced basic customs duties on crude from 5% to Nil, on petrol and diesel from 7.5% to 2.5% and on other petroleum products from 10% to 5%. Similarly, the basic excise duty on diesel has been reduced to Nil from Rs. 2 per litre. The custom… Read More

What to do When the Cheque Gets Bounced

Introduction: In the current era, when crimes have increased to a surprising rate, crimes in banking appear as one of the major forms. India is also not untouched from such crimes. Bouncing of cheques is one such crime which occurs almost everyday in some or the other bank throughout India infact throughout the world. For… Read More

Steps to curb circulation of Fake Indian Currency Notes- RBI

The steps taken by the Government to curb circulation of Fake Indian Currency Notes (FICN) in the country include stepping up of vigilance by the Border Security Force and Custom authorities to prevent smuggling of fake notes; dissemination of information on security features through print and electronic media and formation of Forged Note Vigilance Cells… Read More

Exchange programme initiated b/w India & UK for CA’s

A delegation of Accountants headed by Mr. Ian Gomes, Partner Chairman, High Growth Markets from the United Kingdom (UK) today called on Union Corporate affairs Minister Dr. M .Veerappa Moily and expressed its desire to have regulators exchange programme on regular basis between India and UK. The delegation also desired to have exchange of professionals… Read More

Post Offices will now provide visa related services in remote area

India Post has signed a Memorandum of Understanding (MOU) with M/s VFS Global to provide visa related services for different countries through Post Offices. Memorandum of Understanding between India Post and M/s VFS Global was signed here on 30.08.2011 in the presence of Secretary, Department of Posts and senior officers from Department of Posts and… Read More

1003 branches opened in Rural areas by Scheduled Commercial Banks in 2010-11

In Order to extend the reach of banking to the rural hinterland, to begin with, Banks were advised in 2010-11 to provide appropriate banking facilities to habitations having a population in excess of 2000 (as per 2001 census) by March, 2012, using the Business Correspondent (BC) and other models, with appropriate technology back up. Approximately… Read More

North Eastern States will now have separate High Courts

The Government has decided to set up separate High Courts for each of the North Eastern States. Setting up of separate High Courts is subject to creation of necessary infrastructural facilities by the respective State Governments. Giving this information in written reply to a question in the Lok Sabha, Shri Salman Khurshid, Minister of Law… Read More

Extending the Reach of Banking Facilities to Villages

As reported by Reserve Bank of India (RBI), there are 28,921 rural centers, where Scheduled Commercial Banks are functioning as on 31st March, 2011. RBI defines a rural population group as those centres which have population of less than 10,000. In order to extend the reach of banking to the rural hinterland, to begin with,… Read More

Prime Minister writes to Shri Anna Hazare

The Prime Minister has written to Shri Anna Hazare on the Lokpal issue. The text of the letter is as follows: Over the last few days, I have watched with increasing concern the state of your health. Despite the differences between the Government and your team, I do not think that anybody is or should… Read More

Guidelines for dealing with Candidates™ Advertisements ON TV/Cable Channels owned by Political Parties

The Election Commission has been receiving various complaints/references regarding Paid News and advertisements on TV/Cable Channels networks owned by political parties or their functionaries/office bearers during the process of elections, thus disturbing the level playing field, as these are not reflected in the candidate™s election expenses account. The Commission vide its guidelines issued on 8th… Read More

Bill to allow back door entry to foreign law firms

By Manoj Kumar, IANS, Relatively unnoticed amid the scams and agitations haunting the government, Law Minister Salman Khurshid set a time bomb ticking. Earlier this month, exactly 50 years after the Advocates Act, a bill was placed by the minister, a legal practitioner himself, for wide consultations that seeks to set up a new regulatory… Read More

Rajya Sabha creates history, impeaches High Court Judge Sen

Creating history, Rajya Sabha(RS)overwhelmingly approved impeachment motion against Calcutta High Court(HC) Judge Justice Soumitra Sen, who could become the country's first judge to be removed for misconduct. As many as 189 members voted in favour of the motion to impeach the 53-year-old Judge after a two-day debate on the issue, in the second case in… Read More