Legal Updates - Corporate Law Reporter

Companies (Cost Accounting Records) Rules, 2011

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART-II, SECTION-3, SUB-SECTION (i)] MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated the 3rd June, 2011 G.S.R¦¦¦(E) - In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with clause (d) of sub-section (1) of section 209 of the Companies… Read More

The Companies (Cost Audit Report) Rules, 2011

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART-II, SECTION-3, SUB-SECTION (i)] MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated the 3rd June, 2011 G.S.R¦¦¦(E) - In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with sub-section (4) of section 233B, and sub-section (1) of section 227… Read More

Redemption of Indian Depository Receipts (IDRs) into Underlying Equity Shares

CIRCULAR CIR/CFD/DIL/3/2011 June 03, 2011 To All Stock Exchanges All Depositories All Registered Merchant Bankers All Registered Registrars to an Issue/STA All Registered Custodians Dear Sir/Madam, Sub: Redemption of Indian Depository Receipts (IDRs) into Underlying Equity Shares 1 In order to facilitate foreign issuers to raise funds from the Indian capital markets through IDRs and enable… Read More

SEBI Complaints Redress System (SCORES) for processing of investor complaints against listed companies

CIRCULAR CIR/OIAE/2/2011 June 3, 2011 All Companies whose securities are listed on Stock Exchanges (through Stock Exchanges) All recognized Stock Exchanges Dear Sir/Madam, Sub: Processing of investor complaints against listed companies in SEBI Complaints Redress System (SCORES) 1. SEBI has commenced processing of investor complaints in a centralized web based complaints… Read More

Periodical Report by members of stock exchanges/sub-brokers

Securities and Exchange Board of India CIRCULAR CIR/MIRSD/2/2011 June 3, 2011 To All Recognized Stock Exchanges Dear Sir/Madam, Sub: Periodical Report Grant of prior approval to members of stock exchanges/sub-brokers 1) SEBI (Stock Brokers and Sub-brokers) Regulations, 1992 {hereinafter referred to as "the said Regulations"}, have been amended vide Notification No. LAD-NRO/GN/2011-12/03/12650 dated April… Read More

India allows duty-free import of goods from Afghanistan

India has extended duty-free market access to Afghanistan as part of its economic package for least developed countries (LDCs). Under the scheme, the import of most products from the neighbouring country will be allowed at zero duty. The Finance Ministry has issued a notification in this regard. India's Duty-Free Tariff Preference (DFTP) scheme, launched by… Read More

Govt to stop misleading ads, protect consumer interest

The government is considering putting in place a mechanism to stop misleading advertisements in order to protect consumers from being cheated, Food and Consumer Affairs Minister K V Thomas today said. Thomas said the ministry would set up an expert committee for suggesting ways and means to curb misleading ads. "Everyday I get a number… Read More

Foreign Tourist Arrivals and Foreign Exchange Earnings in May 2011

Foreign Tourist Arrivals (FTAs) during the Month of May 2011 was 3.69 lakh as compared to FTAs of 3.45 lakh during the month of May 2010 and 3.05 lakh in May 2009. There has been a growth of 7.0 % in May 2011 over May 2010 as compared to a growth of 13.0 % registered… Read More

Integrated Grievance Management System (IGMS) for Insurance Grievances

Secretary, Financial Services Launches Integrated Grievance Management System (IGMS); asks Insurance Companies to Focus on Increasing Insurance Literacy; Emphasizes on Putting Proper Regulatory Mechanism in Place to Protect the Interest of Policy Holders Shri S.K. Sharma, Secretary, Department of Financial Services, Ministry of Finance launched the online grievance portal i.e. Integrated Grievance Management System (IGMS)… Read More

Strict Action against Misleading Advertisements

The Ministry of Consumer Affairs, Food & Public Distribution will soon convene a meeting to discuss the issue of misleading advertisements with various service sector ministries and related agencies. Expressing concern over such advertisements for various consumer products and services, the Minister for Consumer Affairs, Food & Public Distribution, Prof. K V Thomas has said… Read More

Action Taken by Govt. on Demands Raised by Baba Ramdev on Recovery of Black Money

There is a legal framework regulated by the Reserve Bank of India for the opening of bank accounts overseas by Indian residents and for outward or inward remission of funds through authorized channels. The existing legal framework for dealing with illicitly generated funds transferred overseas and measures for the attachment and repatriation of such illegal… Read More

Customs Tariff Notification No. 46/2011 revising Customs rates

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 46/2011-Customs New Delhi dated the 1st June, 2011 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52… Read More

Chinese hackers break into hundreds of Gmail Accounts

In a phishing attack, hackers based in China broke into hundreds of Gmail accounts, including those belonging to senior US government officials and military personnel, Internet serach giant Google has said. "Through the strength of our cloud-based security and abuse detection systems, we recently uncovered a campaign to collect user passwords, likely through phishing," Google… Read More