Others - Corporate Law Reporter

TRAI Releases Recommendations on ˜Valuation and Reserve Price of Spectrum™

The Telecom Regulatory Authority of India (TRAI) has today issued its recommendations on the Valuation and Reserve Price of Spectrum. The Department of Telecommunications (DoT) vide its letter dated 10th July 2013 had sought TRAI™s recommendations on applicable reserve price for auction of spectrum in 1800 MHz, 800 MHz and 900 MHz bands. In this context, TRAI had issued a… Read More

India™s External Debt : A Status Report 2012-13

The Department of Economic Affairs, Ministry of Finance is bringing out the nineteenth issue of the annual publication titled ˜India™s External Debt: A Status Report 2012-13™. The Report presents a detailed analysis of India™s external debt position at end-March 2013, based on the data released by the Reserve Bank of India on June 27, 2013.… Read More

GoI clairfies Land Acquisition Bill Not Against Industrialisation

Union Minister for Rural Development Shri Jairam Ramesh said that the new Land Acquisition Bill is not against industrialisation and urbanisation as there is no bar on purchase of private land. He said the new Act renamed as the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2013 will come… Read More

MCA invites comments on subject “Stopping of payment through physical Challan” by 20th Sep’13

NOTICE The Ministry had reviewed the processes involved in delivery of important services to stakeholders and with a view to improving service delivery time, decided to accept payments of value upto Rs. 50,000/- for MCA21 services only in electronic mode w.e.f. 27.3.2011. It was also intimated in the same circular No. HQ/9/2002-Computerisation dated 9th March, 2011… Read More

Land Acquisition Bill Gives Special Concessions to SCS & STS

The Land Acquisition Bill, which has been renamed as The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012 has a separate Chapter to protect the interests of tribals and those belonging to the Scheduled Castes. Where acquisition does take place it shall be done as a demonstrable last resort. The Bill stipulates… Read More

Gov: Rajya Sabha to take up Land Acquisition Bill Tomorrow

The Land Acquisition Bill, which has been renamed as The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2012" will come up in the Rajya Sabha for debate and voting on Wednesday. The Bill is in continuation of the UPA Government™s commitment to enacting rights based legislation with the objective of empowering the common… Read More

FDI :: Government Approves 17 Proposals for Foreign Direct Investment

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 29, 2013, the Government has approved17 Proposals of Foreign Direct Investment (FDI) amounting to Rs. 992.61crore approximately. In addition, one proposal viz., M/s Jet Airways India Ltd., amounting to Rs. 2057.66 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA). Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on29.07.2013. Following 17 (Seventeen) proposals have been approved. Sl.… Read More

MoF :: 20th Progress Report pursuant to the recommendations of the Joint Parliamentary Committee on Stock Market Scam

The Report of the Joint Parliamentary Committee on Stock Market Scam and matters relating thereto was presented to the Parliament on 19th December 2002. In Para 3.31, the JPC recommended that the Government should present its Action Taken Report to the Parliament within six months and, thereafter, a Progress Report every six months until action on all the recommendations… Read More

MoF :: Medium-term Expenditure Framework Statement laid before Parliament as required under the Fiscal Responsibility and Budget Management Act, 2003

Section 3 of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 require the Government to place three Statements in both Houses of Parliament. This section has been amended to require the Government to lay a fourth statement viz. the Medium Term Expenditure Framework (MTEF) in both Houses of Parliament, immediately following the session of the Parliament in which the budget… Read More

MoF :: Expert committee on short term cooperative credit structure (STCCS) gives its recommendations

The Expert Committee, in its report submitted to the Reserve Bank of India (RBI), inter alia, noted that the share of Short Term Cooperative Credit Structure (STCCS) in providing agricultural credit has fallen to a mere 17% although there are small pockets where its share is more than 50%. The Expert Committee has, inter alia, given… Read More

MoF :: GoI sets-up tax administration reform commission under Dr. Parthasarathy Shome

In his Budget Speech 2013-14 in the Parliament on 28.02.2013, the Finance Minister had announced as under: An emerging economy must have a tax system that reflects best global practices. I propose to set-up a Tax Administration Reform Commission to review the application of tax policies and tax laws and submit periodic reports that can… Read More

President calls upon Public Authorities to be Proactive and put Information in the Public Domain

President Shri Pranab Mukherjee has called upon public authorities to be proactive and voluntarily put information in the public domain for the use of citizens. Inaugurating the Eighth Annual Convention of Central Information Commission in New Delhi today, he said a large number of appeals/complaints before the Commission, however, are also indicative of the need… Read More

End-to-end Computerisation of Targeted Public Distribution System

Computerization of supply-chain management, setting up of transparency portal and grievance redressal mechanisms. This was stated by the Minister of Consumer Affairs, Food and Public Distribution, Prof. K.V. Thomas in a written reply in Rajya Sabha today. He said that as part of Fair Price Shop (FPS) automation, some States namely, Chandigarh UT, Chhattisgarh, Haryana, Odisha, Puducherry have reported issuance of TPDS commodities on… Read More