Legal Updates - Corporate Law Reporter

Cross Border Inward Remittance under Money Transfer Service Scheme – Iran and Republic of Korea

RBI/2010-11/535; Circular No. 64; Dated May 20, 2011 All Authorised Persons, who are Indian Agents under Money Transfer Service Schem Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme Please refer to our A.P. (DIR Series) Circular No.50 {A.P. (FL/RL Series) Circular No.12} dated… Read More

Cross Border Inward Remittance under Money Transfer Service Scheme

RBI/2010-11/537; Circular No. 66; Dated May 20, 2011 All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme. Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme Please refer to our A.P.(DIR Series) Circular No.52 { A.P.(FL/RL Series) Circular No.14} dated April… Read More

AML standards/CFT Standards – Money Changing Activities – Iran and Korea

RBI/2010-11/534 A.P. (DIR Series) Circular No. 63 May 20, 2011 All Authorised Persons Madam/ Dear Sir, Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Money Changing Activities Please refer to our A.P. (DIR Series) Circular No.49 {A.P. (FL/RL Series) Circular No.11} dated April 6, 2011 on risks arising from the deficiencies in AML/CFT… Read More

Hedging IPO flows by FIIs under the ASBA mechanism

RBI/2010-11/539; Circular No. 68; dated May 20, 2011 All Authorised Dealer - Category I banks Hedging IPO flows by Foreign Institutional Investors (FIIs) under the Application Supported by Blocked Amount(ASBA) mechanism Attention of the Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 32 dated December… Read More

Forward cover for FIIs Rebooking of cancelled contracts

RBI/2010-11/538; Circular No. 67; Dated May 20, 2011 All Category - I Authorised Dealer Banks Forward cover for Foreign Institutional Investors Rebooking of cancelled contracts Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Regulation 5 of Notification No.FEMA.25/RB-2000 dated May 3, 2000, as amended from time to time… Read More

ROC to issues all cetificates under Digital Signatures

Issue of Certificate by Digital Signature- MCA Gen. Circular No. 29/2011; Dated 20.05.2011 All the Regional Directors ;All the Registrar of Companies Sub: Green Initiative in the Corporate Governance Issue of Certificate by Digital Signature The Ministry of Corporate Affairs has taken a Green Initiative in the Corporate Governance by allowing paperless compliances by the… Read More

SEBI passed Consent order in a case against BP Equities alleged for Circular Trading

Market regulator SEBI today settled and passed a consent order in a case against B P Equities on payment of Rs 5 lakh for the company's alleged failure to exercise due diligence in conducting business as a broker. The case relates to allegations about B P Equities helping its clients to engage in circular trading.… Read More

2G case: Lawyer seeks to implead Anil Ambani, Ratan Tata, Niira Radia

A lawyer today approached a Delhi court seeking a direction to CBI to implead various other persons, including Reliance ADAG chairman Anil Ambani, Tata group chief Ratan Tata and corporate lobbyist Niira Radia, as accused in the 2G scam case. "As far as 2G scam is concerned, the key role is played by Niira Radia,… Read More

MCA allows holding Board Meetings / General Meetings through Video Conferencing

Clarification on Green initiative in the Corporate Governance Participation by Directors in meetings of Board / Committee of Directors under the Companies Act, 1956 through electronic mode Green initiative in the Corporate Governance, the much talked about topic these days, brings another set of relaxation to the Registrar of Companies, the Directors and lastly the… Read More

Investors to hold MF units in demat form

CIRCULAR- CIR/IMD/DF/9/2011; Dated May 19, 2011 CLR Note: To protect the interests of Investors in securities and to promote the development of and to regulate the securities market, this circular has been passed so that the investors can hold the securities in the demat form by providing an option to the investors to mention demat account details in… Read More

RBI : Increase in Housing Loan Limit under Priority Sector

RBI/2010-11/533 RPCD.CORRB.No.71 /03.05.33/2010-11 May 16, 2011 The Chairman All Regional Rural Banks (RRBs) Please refer to paragraph 7.1 of our circular RPCD.No.RRB.BC.20/03.05.33/2007-08 dated August 22, 2007 on lending to Priority Sector, wherein loans up to Rs.20 lakh irrespective of location, to individuals for purchase / construction of dwelling unit per family, excluding loans granted by… Read More

DEPB scheme to end by 30th June, 2011

Rejecting exporters' repeated pleas, the Finance Ministry today said the popular DEPB tax rebate scheme will come to an end from June 30, saving revenue for the government. "All exports will be zero-rated after Duty Entitlement Pass Book (DEPB) scheme ends. Two similar kind of schemes cannot go on. It will save some revenue for… Read More

Apple smartphone and Google’s Android to face tighter regulation in Europe

Smartphones of Apple and Google are likely to face tighter regulation in Europe after a data protection panel ruled that location information collected by the devices should be classified as personal data, says a media report. "Apple smartphones and those running on Google's Android system look set to come under tighter regulation in Europe, after… Read More