Legal Updates - Corporate Law Reporter

Adopting tax System and International tax Rules to the New Global Environment: A Shared Challenge for India and the OECD

Finance Minister to Inaugurate Two Day High Level International Seminar on Adopting tax System and International tax Rules to the New Global Environment: A Shared Challenge for India and the OECD tomorrow Union Finance Minister Shri Pranab Mukherjee will inaugurate two day high level International Seminar on Adopting Tax System and International Tax Rules to… Read More

COSIA pitches for extension of DEPB Scheme for another 3 years

The Chamber of Small Industries Association (COSIA) has requested the Centre to extend the the Duty Entitled Pass Book (DEPB), a tax refund scheme for exporters, for another three years. In a press release issued here, President of the city-headquartered COSIA M R Khambete said the renewal of the DEPB is absolutely essential to meet… Read More

Mobile Payment System is the need of the day : ASSOCHAM

Associated Chambers of Commerce (ASSOCHAM) today said innovative mobile payment system which has mass appeal is required for non-cash payment modes. "The need of the hour is to develop an innovative mobile payment system which is customised to the Indian ecosystem requirements and has a mass appeal," ASSOCHAM Communications Convergence Committee Chairman T V Ramachandran… Read More

PM and judiciary should be within the ambit of Lokpal bill : Narayana Murthy

Software icon N R Narayana Murthy today backed Anna Hazare's movement against corruption and favoured the Prime Minister and the judiciary coming under the ambit of the Lokpal bill. The Chairman and Chief Mentor of Infosys also supported the people taking to streets demanding an end to corruption. "I think in a democracy, pluralism is… Read More

73,000 villages to have banking facilities by 2012 : FM

Union Finance Minister Pranab Mukherjee today said 73,000 villages in the country would have banking facility by next year. "By March 31, 2012, banking facility will be available in 73,000 villages across the country going by the current pace of work," Mukherjee said after inaugurating a Punjab National Bank (PNB) branch at Talai under Raghunathganj… Read More

Ramdev’s illness is due to “other reasons” – Lalu Prasad

Taking potshots at Ramdev, RJD chief Lalu Prasad today said that his illness was not due to fast but for "other reasons" like probe into financial transactions of his Trust. Cautioning Ramdev against falling prey to the "designs of RSS and BJP, Prasad said if Ramdev wants to join politics he should do it as… Read More

Suggestions invited on the Mines (Amendment) Bill,2011

Hon™ble Speaker, Lok Sabha has referred ˜The Mines (Amendment) Bill, 2011™ as introduced in Rajya Sabha to the Standing Committee on Labour for examination and Report. Considering the wider implications of the proposed amendment and the deeper concern of safety and security of mine workers, the Standing Committee on Labour under the Chairmanship of Shri… Read More

Kisan Call Centres – A huge success

More and more farmers are seeking expert advice from Kisan Call Centres (KCCs) using the free phone facility available throughout the country. In 2011-11, over 20 lakh calls were received by the Kisan Call Centres as compared to 9 lakh calls in the previous year. Since its inception in 2004, KCCs have received more than 62 lakh calls. At present, 25 KCCsare operating in the country. Farmers can use toll free number… Read More

Loss reported of around RS 335 crore due to strike in Maruti Suzuki india

The production at Maruti Suzuki India's Manesar facility continues to be completely stopped as the workers' strike at the plant entered its eighth day today. Around 2,000 workers at the plant have been on strike since Saturday, resulting in a production loss of about 6,600 units till yesterday. The value of the loss is estimated… Read More

Video Conferencing will be mandatory for Listed Companies

The Ministry of Corporate Affairs said that From the Next Fiscal Year, every listed companies must provide the option of video conferencing for all the shareholders to participate in the annual general meeting and its connectivity during such meetings will have at least five place in India. In respect of shareholders' meetings to be held during 2011-12,… Read More

Regulators should meet more frequently

The Ministry of Corporate Affairs today said efforts were on to create a platform where different regulators could sit together with an aim to align regulatory overlaps for the benefit of corporates. "When we have multiple regulators there has to be some way that they interact with each other so that the procedures are in… Read More

MCA cannot investigate MLM Company Speak Asia

The Ministry of Corporate Affairs (MCA) today said it cannot investigate alleged irregularities in multi-level marketing company Speak Asia as the company is not registered with it. "Speak Asia is not registered in India so we cannot do any investigation against it. MCA does not have any database of the company," Corporate Affairs Secretary D… Read More

SEBI looking for 4 new Executive Directors

Market regulator Sebi today said it plans to induct four new executive directors, who would replace some key incumbent directors handling important departments like mutual funds and secondary markets. Starting the process for hiring new directors, Sebi today invited applications for four posts of executive directors, including one for legal affairs. The remaining three would… Read More