Legal Updates - Corporate Law Reporter

Auction of Government of India Dated Securities

Ref.No.IDMD / 675 /08.02.032/2010-11 All Scheduled Commercial Banks / All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/ All Primary Dealers Dear Sirs, Auction of Government of India Dated Securities Government of India have offered to sell (re-issue) (a) 7.83 percent Government Stock 2018 for a notified amount of Rs.3,000 crore… Read More

RBI circular on Investment in the units of Domestic Mutual funds

RBI/2011-12/148 A.P. (DIR Series) Circular No. 08 August 9, 2011 To, All Category I Authorized Dealer banks Madam / Sir, Investment in the units of Domestic Mutual funds Attention of Authorized Dealers Category I (AD Category - I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a… Read More

Auction for Sale (Re-issue) of ˜7.80 per cent Government Stock, 2021™

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated August 08, 2011 NOTIFICATION Auction for Sale (Re-issue) of ˜7.80 per cent Government Stock, 2021™ F. No.4 (4) W&M/2011(i): Government of India hereby notifies sale (re-issue) of ˜7.80 per cent Government Stock, 2021™ (hereinafter called 'the Stock') for an aggregate… Read More

Auction for Sale (Re-issue) of ˜8.30 per cent Government Stock, 2040™

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated August 08, 2011 NOTIFICATION Auction for Sale (Re-issue) of ˜8.30 per cent Government Stock, 2040™ F. No.4 (4) W&M/2011(ii): Government of India hereby notifies sale (re-issue) of ˜8.30 per cent Government Stock, 2040™ (hereinafter called 'the Stock') for an aggregate… Read More

MCA complains the Misuse of Public Issue Funds by Companies

The Minister of State in the Ministry of Corporate Affairs today informed the Rajya Sabha that such complaints relate to misuse of public issue funds by way of diversion of funds, non-fulfillment of terms and conditions for the completion of the projects as per the time schedule given in the prospectus, non-traceability of the companies… Read More

Investment by Foreign Investors in Mutual Fund Schemes

CIR/ IMD /DF / 14 /2011 August 9, 2011 All SEBI registered Mutual Funds/ approved Asset management Companies (AMCs) / Depository participants/ Custodians. Sir / Madam, Sub: Investment by Foreign Investors in Mutual Fund Schemes. 1. In the budget speech of 2011, Hon™ble Finance Minister announced the following: Currently, only FIIs and sub-accounts registered with… Read More

RBI Statement on Recent Global Developments

Press Release : 2011-2012/201 Developments relating to the US economy last week have significantly increased uncertainty about its prevailing condition. A sharp fall in US equity markets on Thursday was followed by a downgrade in the long-term US sovereign rating by rating agency Standard & Poor™s from AAA to AA+ with negative outlook on Friday. Two other… Read More

The Sawaimadhopur Urban Co-operative Bank Limited, Sawaimadhopur Penalised

Press Release : 2011-2012/208 The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Sawaimadhopur Urban Co-operative Bank Limited, Sawaimadhopur, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve… Read More

Monitoring of Social Networking Websites

Shri Milind Deora, Minister of State for Communication and Information Technology said in written reply to a question today in Rajya Sabha that Department of Telecommunication has received a letter from Ministry of Home Affairs to ensure effective monitoring of social networking websites like Facebook and Twitter in order to strengthen cyber security paraphernalia. The… Read More

Policy for issue of import licenses of Rough Marble Blocks for the Financial year 2011-12 – DGFT

To be published in the Gazette of India Extraordinary Part-II, Section-3, Sub Section (ii) Government of India Ministry of Commerce & Industry Department of Commerce Notification No. 64 (RE-2010)/2009-2014 New Delhi, Dated: 4th August, 2011 Sub.: Policy for issue of import licenses of Rough Marble Blocks for the Financial year 2011-12. S.O. (E) In… Read More

Inclusion of ICD Merripalem Guntur District, (AP) as a Port of Registration under Para 4.19 of HBP v.1

(To be published in the Gazette of India Extraordinary (Part-I, Section-I) Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Public Notice No.69 (RE-2010)/2009-2014 New Delhi, Dated the 04 August, 2011 Sub: Inclusion of ICD Merripalem Guntur District, (AP) as a Port of Registration under Para 4.19 of… Read More

Import policy of Worked monumental or building stone (except slate) and articles thereof

To be published in the Gazette of India Extraordinary Part II Section 3, Sub Section (II) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No. 65 (RE-2010)/2009-2014 New Delhi, The 4th August, 2011 Subject : Import policy of Worked monumental or building stone (except slate) and articles thereof, other than… Read More

Annual charge contemplated on Companies : MCA

According to ET Report, The ministry of corporate affairs ( MCA) is contemplating introducing an annual charge on all registered companies in the new Companies Bill with the twin aim of boosting its revenue and creating a system to track companies. The charge will most likely be based on the capital size of the company. Read More