Others - Corporate Law Reporter

Fixation of Nutrient Based Subsidy (NBS) Rates

The Cabinet today accorded approval to the proposals of the Department of Fertilizers for fixation of NBS rates for the year 2013-14. These rates will be applicable from 1st April 2013. The Department of Fertilizers is implementing Nutrient Based Subsidy Policy for the P&K fertilizers w.e.f. 1.4.2010. As per this Policy, the Government of India… Read More

Applicability of RBI Guidelines to Income Tax

Introduction We are aware that foreign exchange regulations are governed by Reserve Bank of India (˜RBI™) and income tax regulations by the Central Government. Yet, is it possible to conclude that limits laid down by RBI can be considered as Arm™s Length Price (˜ALP™) for the purposes of transfer pricing under the under Income tax… Read More

Setting up of Special Courts for speedy trials of SC/ST offences under the Act

The Scheduled Castes (SCs) and the Scheduled Tribes (STs) (Prevention of Atrocities) {PoA} Act, 1989, extends to the whole of India except Jammu and Kashmir, and responsibility for its implementation rests with State Governments/Union Territory Administrations. Section 14 of the PoA Act, stipulates specification for each district, a Court of Session to be a Special… Read More

FDI In Power Sector

As per information available with Central Electricity Authority, details of private sector investment from 2009-10 to 2012-13 is as under: Thermal Power Plant (Rs. in crores) Private Investment 2009-10 2010-11 (P) 2011-12 (P) 2012-13 (P) Thermal projects 36764 70028 90551 52511 Hydro projects 5517 5855 3436 1622 Transmission 2965 3602 2294 - Distribution 2815 2103… Read More

Review of SC/ST (Prevention of Atrocities) Act, 1989

The Scheduled Castes and the Scheduled Tribes (Prevention of Atrocities) {PoA} Act, 1989, extends to the whole of India except Jammu and Kashmir, and responsibility for its implementation rests with State Governments/Union Territory Administrations. The States/Union Territories are provided due Central assistance under a Centrally Sponsored Scheme, for effective implementation of the PoA Act. They… Read More

FSSAI issues New Guidelines

Food Safety and Standards Authority of India (FSSAI) has issued a new advisory on 11th December, 2012 relating to sale of new or existing proprietary food products. As per Section- 22 of the Food Safety and Standards Act, 2006 (FSSA), no person shall manufacture, distribute, sell or import any novel food, genetically modified articles of… Read More

Census 2011: Abstract- Primary Data Released

Shri Sushil Kumar Shinde, Union Home Minister released the Primary Census Abstract-Data Highlights of Census 2011 in a function organized by the Office of the Registrar General & Census Commissioner, India here today. On this occasion Union Home Minister congratulated all stake holders for completing the 2011 Census and said that the results of efforts… Read More

Nuclear And Radiation Safety Policy of Atomic Energy Regulatory Board (AERB)

In accordance with the Presidential orders dated 15 November 1983, constituting the AERB, the functions of AERB include, as per clause 2(i), development of safety policies in both radiation and industrial safety areas, and further, as per clause 2(vi), evolving major safety policies based on safety criteria, recommended by IAEA and other international bodies, adopted… Read More

Regulatory Mechanism for Ayurvedic, Unani and Homoeopathic Medicines

Ayurvedic Treatment Procedures Ayurvedic, Unani and Homoeopathic medicines are regulated in the country under the provisions of Drugs & Cosmetics Act, 1940 and the Rules thereunder. For this purpose, the Licensing Authorities are appointed by the State Government to grant license for manufacturing of Ayurveda, Unani and Homeopathic medicines and enforce the legal provisions for… Read More

Multi Level Marketing – Curbs on Fraudulent Companies

Multi Level Marketing (MLM) Schemes involving enrollment of a vertical chain of investors/agents constitute Money Circulation and are banned under the Prize Chits & Money Circulation (Schemes)Banning Act, 1978 which is implemented by the States. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs,… Read More

Corporate Social Responsibility and the Existing Companies Law

There is no provision for Corporate Social Responsibility (CSR) spending by companies in the existing Companies law i.e. Companies Act, 1956. However, the Companies Bill, 2012 incorporates a provision of CSR under Clause 135. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said… Read More

Annual Plan 2013-14 for Punjab finalised

The Annual Plan for the year 2013-14 for the state of Punjab was finalised here today at a meeting between Deputy Chairman, Planning Commission, Mr. Montek Singh Ahluwalia and Chief Minister of Punjab, Sh. S. Parkash Singh Badal. The plan size has been agreed at Rs16,125crore. In his comments, Deputy Chairman assured the State Government… Read More

Industrial Clusters Approved Under Industrial Infrastructure Upgradation Scheme

The details of industrial clusters set up or approved in the country during the last three years under Industrial Infrastructure Upgradation Scheme along with funds allocated/released to them, State-wise and share of small and medium industries in these clusters is indicated at Annexure-I. Projects sanctioned under the Scheme have access to modern technology through provision… Read More