Legal Updates - Corporate Law Reporter

Restoration of DEPB Benefits for Cotton and Cotton Yarn

Shri Anand Sharma the Union Minister of Commerce, Industry and Textiles has restored the DEPB benefits for cotton yarn from 1st April, 2011 and on Cotton from 1st October, 2010. The Minister said here today, I have taken a composite review of the cotton and cotton yarn industry over the last few days. Both of… Read More

Clarification on classification of Palm Stearin CBEC Circular No. 31/2011

Circular No. 31/2011- Customs F.No.521/64/2010-STO (TU) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs 229A, North Block, New Delhi-110001 Dated 26th, July, 2011 To, All Chief Commissioners of Customs / Customs (Prev.). All Chief Commissioners of Customs & Central Excise. All Commissioners of Customs / Customs (Prev.). All Commissioners… Read More

Guidelines for ROC and OL for Scrutiny inspection and investigation in all winding up cases

GENERAL CIRCULAR No. 55/2011; GOI; MCA; Dated 26th July 2011 All Regional Directors; All Registrar of Companies; All Official Liquidators Subject: Scrutiny inspection and investigation in all winding up cases. It has been noticed that winding up petitions are being filed by management after having committed major violations under the Companies Act, 1956 as well as misappropriation of… Read More

Notification No.37/2011-Central Excise- reg. Food preparation

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.37/2011-Central Excise New Delhi, the 25 July, 2011 G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public… Read More

Guidelines for RDs/ROCs in the matter of scheme of arrangement /amalgamation under section 391-394

GENERAL CIRCULAR NO. 53/2011; GOI; MCA; Dated 26th July, 2011 All Regional Directors; All ROCs; All Official Liquidators Subject: Guidelines for RDs/ROCs in the matter of scheme of arrangement /amalgamation under section 391-394. It has been observed that various field formations are following different practices while sending comments to the Hon™ble High Courts in respect… Read More

Exemption on food preparations under chapter 16 or 19 vide excise notification no. 23 / 2011 withdrawn

Title: Notification No.36 /2011-Central Excise GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.36 /2011-Central Excise New Delhi, the 25 July, 2011 G.S.R. (E). - In exercise of the powers conferred by sub-section (2A) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it… Read More

Pro-active action in case of winding up petitions

GENERAL CIRCULAR NO. 54/2011; GOI; MCA; Dated 26th July 2011 All Regional Directors; All ROCs; All Official Liquidators Subject: Pro-active action in case of winding up petitions It has been noticed that winding up petitions are filed by creditors, stake holders and management before Hon™ble High courts without providing full information. This leads to waste of… Read More

Service Tax Notification No. 42/2011 w.r.t.treatment and recycling of effluents and solid waste discharged by dyeing units

Government of India Ministry of Finance Department of Revenue New Delhi, the 25th July, 2011 Notification No. 42/2011-Service Tax G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so… Read More

Leviability of Cess on export of Lac/shellac

Circular No. 32/2011- custom F. No. 341/26/2011-TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit *** New Delhi dated 26th July, 2011 To All Chief Commissioners of Customs / Customs (Prev.), All Chief Commissioners of Customs & Central Excise, All Commissioners of Customs / Customs (Prev.), All Commissioners of Customs & Central Excise,… Read More

Online incorporation of companies within 24 hours

General Circular No. 49 /2011; GOI; MCA; Dated 23rd July, 2011 All Regional Directors, All Registrar of Companies. Sub: Online incorporation of companies within 24 hours In order to give ease to the corporate world to carry business in India, the Ministry of Corporate Affairs has been simplifying the procedures under the Companies Ac t, 1956. As another… Read More

Simplified procedure for obtaining online approval of Central Government U/S 297 of the Companies Act, 1956

General Circular No. 52/2011; GOI;MCA; Dated 25th July, 2011 CLR Note: Effective 24th Sept, 2011, Sec 297 approvals will be given online. The procedure will be much simplified and there will be no need to visit the Regional Director Office for such approvals nor any documents need to be filed physically. The approval can be… Read More

Rectification of register of charges under section (U/s) 141 of the Companies Act, 1956 Simplified

General Circular No. 51 / 2011; GOI; MCA; Dated 25th July, 2011 CLR Note: The major change in the simplified procedure is the transfer of jurisdiction of approval of such cases including condonation in delay for form 8 & 17 will now be transferred to the Registrar of Companies instead of Company Law Board. The… Read More

Shifting of Registered Office from one state to another state now becomes easier

General Circular No. 50 / 2011; GOI; MCA; Dated 25th July, 2011 All Regional Directors, All Registrar of Companies, All Stakeholders Sub: Simplified procedure for obtaining confirmation of shifting of registered office from one state to another state under section 17 of the Companies Act,1956. In order to simplify the procedures and cut timelines, the Ministry has… Read More