Legal Updates - Corporate Law Reporter

Sharma to take up Extension of DEPB scheme with FM

Making out a case for extension of the popular incentive scheme - DEPB - for Indian exporters, Commerce Minister Anand Sharma today said he will take up the issue with Finance Minister Pranab Mukherjee on his return to New Delhi. "I am one who is not subscribing to this view that our exports have reached… Read More

MCA 21 site relaunched with a New Look

The Minsitry of Corporate Affairs (MCA) site http://mca.gov.in/MCA21/ has been relaunched today with a new look and feel which is much more cleaner & colorful. The Minstry has been keeping vibrant these days with the Green initiatives and this seems to be a feather in the cap. Good Job MCA. … Read More

Lifting of ban on Wheat and Rice after the proposed National Food Security Act

Agriculture Minister Sharad Pawar today said the government will take a final view on lifting the export ban on wheat and non-basmati rice after assessing foodgrains requirement under the proposed National Food Security Act. Last month, Pawar had said that the government should give a serious thought on allowing export of wheat and non-basmati rice,… Read More

Assocham calls for Lifting of ban on raw cotton exports

Industry body Assocham today called for lifting of the ban on raw cotton exports following a 40 per cent decline in cotton prices during the past one-and-a-half month, to protect farmers interests across the country. "The government must allow cotton exports immediately or those holding stocks will have to bear heavy losses. Traders will not… Read More

2G case : 5 Corporate honchos in Jail

Five corporate honchos, including Unitech Group MD Sanjay Chandra and Group MD of Reliance ADAG Gautam Doshi, will remain in jail in the 2G case with the Delhi High Court today dismissing their bail pleas, saying "the gravity of offence itself is sufficient to deny bail". Besides Chandra and Doshi, Justice Ajit Bharihoke also rejected… Read More

Security Feature to be added in Currency Notes

The government today said it is working towards introducing security features in currency notes across all denominations to check the menace of counterfeiting. "Counterfeiting of our currency is a matter of great concern for the government... to check this menace of fake currency, an exercise for introduction of security features in all denominations of Indian… Read More

ICSI Announces Campus Placement for Fresher Members & Students on 25th May,2011

The Institute is organizing a Campus Placement for the fresher members for job and for students for 15 Months Training on Wednesday, the 25th May, 2011 at Gurgaon Chapter , 1st Floor, Deenbandhu Sir Chhoturam Bhavan, Sector -32, Gurgaon -122002 The following process will be followed: 1. Name of the participating companies will be announced at… Read More

RBI lays down ‘Fit and Proper’ Criteria for Directors on the Boards of Banks

RBI/2010-11/541; DBOD. No.BC.No. 95 /29.39.001/2010-11; May 23, 2011 The Chairman & Managing Director of all Nationalised Banks / Managing Directors & CEOs of all Private Sector Banks / The Managing Directors of all the Associate Banks of State Bank of India 'Fit and Proper' Criteria for Directors on the Boards of Banks Please refer to DBOD circulars No.BC.104 &… Read More

RBI places the report on FHC structure in India

CLR Note: The Financial Holding company (FHC) is a financial entity engaged in a broad range of banking-related activities, created by the Gramm-Leach-Bliley Act of 1999. These activities include: insurance underwriting, securities dealing and underwriting, financial and investment advisory services, merchant banking, issuing or selling securitized interests in bank-eligible assets, and generally engaging in any non-banking activity… Read More

Govt. to raise Rs. 40,000 cr through disinvestment

The government will soon finalise the roadmap to raise a whopping Rs 40,000 crore through disinvestment during the current fiscal. It will include sale of equity in blue chip companies like SAIL and ONGC. "Cabinet has so far given approval for the disinvestment of four state-run firms - PFC, SAIL, ONGC and HCL. We are… Read More

Rajiv Kumar appointed the Secretary General- FICCI

Ficci today appointed Rajiv Kumar as the Secretary General of the chamber. Kumar, a well-known economist and the author of several books, would succeed Amit Mitra, who has become the Finance Minister of West Bengal. He joined Ficci as Director General in October, 2010. Earlier, he was Director and Chief Executive of an economic think-tank,… Read More

Prime Minister™s address at release of Report to The People 2010-11

Following is the address of the Prime Minister, Dr. Manmohan Singh at release of Report to the People 2010-11: We are meeting here again to present our Report to the People. I have viewed this initiative as a symbol of our commitment to transparency and accountability in governance. The United Progressive Alliance has offered seven… Read More

FICCI to announce its General Secretary

Ficci will announce its new Secretary General tomorrow, the industry body's top post vacated by Amit Mitra who has become the Finance Minister of West Bengal. The selection of the Secretary General will be made by the Seniors Committee, comprising of former presidents of Ficci - Y K Modi, Rajan Bharati Mittal and Harshpati Singhania,… Read More