Corporate Law Reporter - The Daily Journal

Violation of EPF Act

Details of number of cases under Section 7A of Employees™ Provident Funds & Miscellaneous Provisions Act, 1952, initiated against the defaulting establishments during the last three years are as under: 2010-2011 2011-2012 2012-2013 26568 19615 17147 Details of Action taken during the said period is as under: (i) Number of prosecution cases filed under Section 14… Read More

Data of Members under EPFO on Web Facility

Employees™ Provident Fund Organisation (EPFO) has date of birth details for more than 4 crore members out of a total members of 8.87 crore as on 01.08.2013. Web facility has been provided to the Employers to upload the date of birth details of all employees. Further, Field Offices of EPFO have been directed to ask… Read More

Statement by Shri P Chidambaram, Union Finance Minister in Parliament

Following is the Text of the Statement made by the Union Finance Minister Shri P. Chidambaram in Parliament today: Last year, at this time, the foremost challenge to the Indian economy was the growing fiscal deficit. Hence, on August 6, 2012 I made a statement on the path of fiscal consolidation that we intended to take. Following… Read More

Defence Funds under Corporate Social Responsibility

The amount spent by the Defence Public Sector Undertakings (DPSUs) under Corporate Social Responsibility (CSR) activities during the last three years, i.e. during 2010-11, 2011-12 and 2012-13, is given in Annexure Name of the DPSU Amount spent on CSR activities (Rs. in lakhs) 2010-11 2011-12 2012-13 (provisional) Hindustan Aeronautics Ltd 179.19 580.65 888.12 Bharat Electronics… Read More

Patents to Traditional Ayurvedic Medicine

Any readymade formula of traditional Indian Ayurvedic System of Medicine cannot be patented since an invention, which in effect, is traditional knowledge or duplication of known properties of traditionally known components has been made non-patentable under Section 3(p) of the Patents Act, 1970. Moreover, the substantial improvements over traditional medicines which meet the requirements prescribed for patentability in… Read More

eBiz Portal to serve as a 24X7 online single-window system

Ministry of Commerce & Industry launched the eBiz portal on 28.01.2013 comprising the License and Permits Services component that will allow business users to obtain information on customized list of licenses, permits, and regulations that they require or need to comply with across all levels of government in five pilot States viz., Andhra Pradesh, Delhi,… Read More

A Statement on FDI Inflow

India has a liberal Foreign Direct Investment (FDI) policy wherein most of the sectors are open to Foreign Direct Investment (FDI) on the automatic route except a few which are either prohibited or restricted for FDI. The clearances and permissions for setting up industries are granted by various authorities at the central and state level.… Read More

Setting Up of NIMZ – National Investment and Manufacturing Zones

Government has granted in-principle approval to five National Investment and Manufacturing Zones (NIMZs) outside the DMIC region. The state governments have to acquire the necessary land before any projects can be considered in these zones. Eight zones have been announced as NIMZ along the Delhi Mumbai Industrial Corridor (DMIC). The Government has received nine proposals… Read More

Concessions to Exporters – A report

The details of amount released to each of the States//Union Territories under Assistance to States for Developing Export Infrastructure and Allied Activities (ASIDE) Scheme during last three years and the current year are enclosed as Annexure-I. Under the ASIDE scheme, a major portion of the fund allocation is provided to all the States / UTs on the basis of a… Read More

Policy on Trade of Agricultural Products

The Government, from time to time, keeps receiving representations from various quarters on various aspects related to agricultural export policy. This issue was also raised by Sh. Raju Shetty, MP in the Parliament. The export of agricultural products depends on various factors including availability of surplus over and above the requirement of buffer stock including… Read More

Exports to Asean

Details of the trade carried out between India and the Association of South East Asian Nations(ASEAN), Argentina and the South Asian countries during the last three years and current year are at Annex-I, Annex-II and Annex-III. ASEAN and India has set bilateral trade target of US$100 billion by 2015. The bilateral trade target with Indonesia, Thailand, Myanmar and Vietnam… Read More

Independent Regulatory Authority for Coal Sector

The Government has decided to set up a Coal Regulatory Authority. This information was given by the Minister of State for Coal, Shri Pratik PrakashBapu Patil in a written reply in Rajya Sabha today. He said that the objectives and functions of the Authority are to specify by regulation methods of testing for declaration of… Read More

Railway Revenue Earnings up by 10.74 Per Cent During April – July 2013

The total approximate earnings of Indian Railways on originating basis during 1st April to 31st July 2013 were Rs. 44260.16 crore compared to Rs. 39969.24 crore during the same period last year, registering an increase of 10.74 per cent. The total goods earnings have gone up from Rs. 27924.26 crore during 1st April 31st July… Read More