Legal Updates - Corporate Law Reporter

List of Terrorist Individuals/ Organisations under UNSCR 1267(1999) and 1822(2008) on Taliban/Al-Qaida Organisation

Dear Sir, List of Terrorist Individuals/ Organisations under UNSCR 1267(1999) and 1822(2008) on Taliban/Al-Qaida Organisation Please refer to our circular letter DBOD. AML No. 18819 /14.06.001/2010-11 dated June 3, 2011. We have since received from Government of India (Ministry of External Affairs) copy of note dated June 10, 2011 forwarded by the Chairman of UN Security… Read More

Exim Bank’s Line of Credit to the Government of the United Republic of Tanzania

RBI/2010-11/565 A.P. (DIR Series) Circular No. 71 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 36.56 million to the Government of the United Republic of Tanzania Export-Import Bank of India (Exim Bank) has concluded an Agreement dated March 28, 2011 with the Government of the… Read More

Opening of Branch/Subsidiary/Joint Venture/Representative Office or Undertaking Investment Abroad by NBFCs

RBI/2010-11/566 DNBS (PD) CC.No. 222/03.10.001/2010-11 All NBFCs Dear Sirs, Opening of Branch/Subsidiary/Joint Venture/Representative Office or Undertaking Investment Abroad by NBFCs Please refer to Regulation No. 7 of the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2004, dated July 07, 2004, in terms of which an Indian party requires prior approval… Read More

Scheme for Organising Book Fairs, Book Exhibitions and Participation in International Book Fairs and Publishing Events

Union Ministry of Culture has announced a scheme which is known as Financial Assistance for Book Fairs, Book Exhibitions and participation in International Book Fairs and publishing Events etc™. The main object of the scheme are popularization of Indian Culture through the quality of Books and create climate n which a vast number of people would buy and read books.… Read More

OECD and India agree for Enhanced Tax Corporation to initiate further control of tax evasion

Organisation for Economic Cooperation and Development (OECD) has appreciated the action taken by India in handling tax evasion and black money issues. During the two day high level Seminar held on 13th and 14th June on Adopting Tax System and International Tax Rules to the New Global Environment : a Shared Challenge for India and… Read More

Do expect a decent salary hike this Financial Yr (hopefully:)

Job market in India looks promising as companies have doled out salary hikes in the range of 10-13 per cent across industries this year and are now exploring innovative methods to successfully retain their workforce, says a survey. According to staffing firm Kelly Services' annual Employment Outlook and Salary Guide 2011-12, 2011 proved a breather… Read More

Revision in quantum of anti dumping duty on Pentaerythritol from China PR and Sweden

Notification No. 47 /2011 - Customs G.S.R.451 (E).- Whereas, the designated authority vide notification No.15/3/2010-DGAD, dated the 26th March, 2010, published in Part I, Section 1 of the Gazette of India, Extraordinary, dated the 26th March, 2010, had initiated review in the matter of continuation of final anti-dumping duty on Pentaerythritol (herein after referred to as… Read More

Tariff Value of Edible Oils, Brass Scrap and Poppy Seeds Notified

Notification No.38/2011-Customs (N.T.) Tariff Value of Edible Oils, Brass Scrap and Poppy Seeds Notified CBEC, Department of Revenue has issued a Notification No.38/2011-Customs (N.T.) and thereby notifying tariff values of edible oils, brass scrap (all grades) and Poppy seeds as follows: S. No. Chapter heading/ sub-heading/tariff item Description of goods Tariff value US $ (Per Metric Tonne)… Read More

Hike in Interest rates will destabilise economy : FICCI

On the eve of credit policy review by the Reserve Bank, industry body FICCI today warned that any further hike in interest rates would "destabilise" industrial growth and weaken the economy. In a letter to RBI Governor D Subbarao, Chairman of Ficci Finance Committee Udayan Bose has said that recent evidence of slowdown in cement… Read More

ADB aims at Better India- signs Loan Agreement to strengthen Bihar’s Power sector

The Government of India and Asian Development Bank (ADB) today signed a $132 million loan agreement for strengthening Bihar™s power sector. The signatories to the loan were Shri Venu Rajamony, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India, and Shri Prodyut Dutt, Officer-in-Charge, ADB's India… Read More

Strike continued on 12th day at Manesar Plant of Maruti Suzuki India

The country's largest car-maker Maruti Suzuki India today said production at its Manesar plant continues to be completely affected as the ongoing workers strike entered its 12th day. " There is no production going on," a company spokesperson said. The company saw production hit by 10,200 units till yesterday, which translates into a loss of… Read More

MCA to question 12 companies for providing false information on shareholding pattern

MCA will probe management and auditors of 12 listed companies, including Raj Television Network and Surya Lakshmi Cotton Mills, for allegedly providing false information about the shareholding pattern. "Ministry of Corporate Affairs (MCA) believes the 12 companies under scanner furnished false info regarding their share breakup to Regional Directors (RDs)," an official said. The ministry… Read More

India’s Import of sensitive items show a rapid increase by 9.3%

Items such as foodgrains, automobiles, milk and beverages fall in the sensitive category and the import of these are monitored by the government to see if there is any adverse impact on the domestic industry. During April- 2010 to February-11, India's import of sensitive items, including foodgrains and milk products, has gone up by 9.3 per… Read More