The government is considering a proposal to extend Employees Provident Fund Scheme to all companies with over 10 employees, the Parliament was informed today. "The proposal is under examination and consideration of the government," Labour and Employment Minister Mallikarjun Kharge said in a written reply. At present the EPF Act has provisions that any factories… Read More
The long pending issue of opening of multi-brand retail to foreign investment moved one more step, with the top secretaries forwarding 10 recommendations to the commerce and industry ministry yesterday. The CoS headed by cabinet secretary Ajit Kumar Seth has recommended that 51% FDI could be allowed in the sector, which is dominated by mom… Read More
With an aim to rein in insider trading by promoters without investors™ knowledge,Sebi has decided to make it mandatory for all promoter entities to disclose any considerable purchase or sale of shares by them. The decision would remove a major anomaly from the Sebi™s insider trading prohibition regulations, which currently requires only directors and senior… Read More
General Circular No. 59/2011 F.No. 2/11/2011-CL V To All Regional Director, All Registrar of Companies. Sub: Company Law Settlement Scheme, 2011 Sir, 1. It has been observed that a large number of companies are not filing their due statutory (i.e. Balance sheet and Annual Returns) timely with the registrar of Companies. Due to this, the… Read More
Press Release : 2011-2012/187 With a view to strengthening the consultative process in monetary policy, the Reserve Bank of India had constituted a Technical Advisory Committee on Monetary Policy in June, 2009. The tenure of the Committee was up to June 30, 2011. However, it was decided to continue with the Committee up to the… Read More
No data is maintained in the Ministry of Finance regarding black money stashed abroad converted to white and brought back into the country by exploiting the provisions of no tax on dividend and capital gain in India. However, appropriate action as per the provisions of the Direct Tax Laws is taken whenever credible information with… Read More
Government of India Ministry of Commerce and Industry Directorate General of Foreign Trade Udyog Bhavan, New Delhi-110011 Policy Circular No.35 (RE-2010)/2009-2014 Dated, the 4th August, 2011 To All Licensing Authorities. All Custom Authorities. Subject: Re-import of perishable edible / food products for export again. Representations have been received seeking a clarification on the applicability of condition… Read More
Government of India Ministry of Commerce Industry Directorate General of Foreign Trade Udyog Bhawan, New Delhi Policy Circular No. 36 (RE-2010)/2009-14 Dated the, 5th August, ,2011 Sub:- Online transmission of DES (Advance Authorization), EPCG and DEPB at Air Cargo Complex, Cochin location w.e.f. 08.08.2011 - reg. As and when Customs (CBEC) have conveyed their readiness to implement on-line message exchange between Customs and DGFT, Policy Circulars have been… Read More
No. of PAN CARD Holders: As on 31.3.2009 8,09,21,993 As on 31.3.2010 9,59,26,877 As on 31.3.2011 12,10,45,706 No. of Returns filed during the financial year FY 2008-09 3,38,69,567 FY 2009-10 3,27,36,625 FY 2010-11 3,47,75,956 The Department has identified the multiple PANs belonging to the same person through an automated Computer System of the Department. Till… Read More
Press Release : 2011-2012/200 The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), 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
CIR/MIRSD/13/2011 To All Bankers to an Issue (BTI) and Debenture Trustees (DT) registered with SEBI Sir/ Madam, Sub: Processing of Investor Complaints in SEBI Complaints Redress System (SCORES) 1. SEBI has commenced processing of investor complaints in a centralized web based complaints redress system ˜SCORES™. The salient features of this system are: ¢ Centralized database… Read More
RBI/2011-12/145 DPSS.PD.CO. No.223/02.14.003/2011-2012 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Authorised Card Payment Networks Madam / Dear Sir Security Issues and Risk mitigation measures related to Card Not Present (CNP) transactions. Please refer to our circular… Read More
RBI/2011-12/144 DPSS.CO.PD.No. 225/02.14.006/2011-12 August 04, 2011 To All System Providers, System Participants and all other prospective prepaid payment instrument issuers Dear Sir, Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India. A reference is invited to our circular RBI/2010-11/261DPSS.CO.No. 1041/02.14.006/2010-2011 dated November 04, 2010, containing the guidelines for enabling additional category of prepaid… Read More