Corporate Law Reporter - The Daily Journal

SEBI clarification on Investments by FIIs/QFIs in Credit Enhanced Bonds

CIRCULAR CIR/IMD/FIIC/ 19 /2013 November 28, 2013 To All Foreign Institutional Investors through their designated Custodians of Securities The Managing Directors NSDL and CDSL Sir / Madam, Sub: Investments by FIIs/QFIs in Credit Enhanced Bonds On September 10, 2012, Government of India decided to permit Foreign Institutional Investors (FIIs) to invest in Credit Enhanced INR… Read More

The Relevance of an Apostille

The Hague Convention Abolishing the Requirement for Legalisation for Foreign Public Documents, or the Apostille convention is an international treaty drafted by the Hague Conference on Private International Law(HCCH). It specifies the modalities through which a document issued in one of the signatory countries can be certified for legal purposes in all the other signatory… Read More

Doctrine Of Notional Extension: A Comparative Analysis between India, U.S and U.K

There is a fundamental question which has influenced the history and present position of work claims: can the preferential treatment given to workers compared to other injury victims be justified? The industrial injuries scheme privileges workers by making available benefit which cannot be claimed by those not injured in the course of employment. Position in… Read More

Clarifications Regarding the Service Tax Voluntary Compliance Encouragement Scheme (VCES)

The Union Finance Minister Shri P. Chidambaram recently held interactive sessions at Chennai, Delhi and Mumbai to ascertain and address the concerns of trade on any aspect of the Service Tax Voluntary Compliance Encouragement Scheme (VCES). During these interactive sessions, the trade had raised certain queries and also expressed some apprehensions. Most of these issues have already been clarified in the… Read More

Charges Levied by Banks for Sending SMS Alerts

RBI/2013-14/381 DBOD. No. Dir. BC. 67/13.10.00/2013-14 November 26, 2013 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/ Madam Charges Levied by Banks for Sending SMS Alerts Please refer to paragraph 37 of the Second Quarter Review of Monetary Policy Statement 2013-14 announced on October 29, 2013 (extract enclosed) on ˜Customer Service- Charges Levied by Banks… Read More

Priority Sector Lending Classification

RBI/2013-14/379 RPCD.CO.Plan. BC 59/04.09.01/2013-14 November 25, 2013 The Chairman/ Managing Director/ Chief Executive Officer [All scheduled commercial banks (excluding Regional Rural Banks)] Dear Sir, Priority Sector Lending Classification Please refer to the press release dated November 18, 2013 on the above subject. 2. In view of the reasons explained therein, it is decided to include incremental bank loans… Read More

Security and Risk Mitigation Measures for Card Present Transactions

RBI/2013 -14/380 DPSS (CO) PD No.1164/ 02.14.003/2013-14 November 26, 2013 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised Card Payment Networks Madam / Dear Sir, Security and Risk Mitigation Measures for Card Present Transactions… Read More

CCA Ordered mandating generation of DSCs on Tokens only w.e.f 25th Nov 2013

F.No.CCA/DC(T)/2013-98 (pt.) Government of India Ministry of Communications & Information Technology Department of Electronics & Information Technology Office of Controller of Certifying Authorities New Delhi 25th October 2013 OFFICE ORDER The Security of Private keys corresponding to the DSCs being issued by Certifying Authorities (CA) to subscribers has always been a matter of concern. In… Read More

Widening of the scope of power of Transfer Pricing Officer in context of Section 92CA of the Income Tax Act, 1961 An Analogous study

In the last few years the Government of India has taken many steps in order to strengthen the Transfer Pricing (Taxation) regime in India. A series of amendment has been introduced in order to enhance the ambit of tax base and consequent increase in the revenue. The latest step in this direction was the extension… Read More

RBI extends Liquidity Support to Micro, Small and Medium Enterprises

Refinance to SIDBI to ease Liquidity Stress to MSE Sector In view of the need to ease the liquidity stress to Micro and Small Enterprises (MSE) sector which is employment intensive and contributes significantly to exports, it has been decided to provide refinance of an amount of `5,000 crore to the Small Industries Development Bank of… Read More

Financing of Infrastructure – Definition of ‘Infrastructure Lending’

RBI/2013-14/378 DBOD.BP.BC.No.66/08.12.014/2013-14 November 25, 2013 All Scheduled Commercial Banks (excluding RRBs) and All India Term-Lending and Refinancing Institutions (EXIM Bank, NABARD, NHB and SIDBI) Dear Sir, Financing of Infrastructure - Definition of 'Infrastructure Lending' Please refer to our circular DBOD.BP.BC.No.58/08.12.014/2012-13 dated November 20, 2012 on ˜Definition of Infrastructure Lending™ harmonising the RBI definition of Infrastructure Lending with… Read More

Institutional Trading Platform…A Foot Forward….

SEBI (LISTING OF SPECIFIED SECURITIES ON INSTITUTIONAL TRADING PLATFORM) REGULATIONS, 2013 India Inc. can from a bird™s eye view does not consist of only the bigger players in the market. Apart from the bigger players there consist a considerable percentage of the smaller players who have been consistently in pursuit of inorganic and organic expansions… Read More

Chairman Of The Board And Chairman Of The General Meetings

CHAIRMAN OF THE BOARD AND CHAIRMAN OF THE GENERAL MEETINGS Abstract The responsibility for the conduct of a meeting rests primarily on the chairman. The chairman is entrusted with the task to call the speakers, regulate the length of their speeches, deal with the items of the business in order, put motions to the meeting… Read More