Corporate Law Reporter - The Daily Journal

CLR Snippets | Real Estate Watchdog

In order to ensure that the real estate promoters undertaking housing projects, utilize the funds collected for a particular project, for the development of the same project and not invest it elsewhere (leading to delay in execution and probable cost escalation), the provision for keeping a specified percentage of money collected from the allottes, to… Read More

CLR Snippets | Proper Enforcement of Regulatory Framework for Multi-Level Marketing Companies

The Government has constituted a High-Level Inter-Ministerial Group (IMG) for proper enforcement of regulatory framework for Multi-Level Marketing Companies, Non-Banking Finance Companies and Companies running Collective Investment Schemes, under the Chairmanship of Additional Secretary, Department of Financial Services, Ministry of Finance. The Group consists of Joint Secretary level officers from the Department of Economic Affairs,… Read More

Incentives Given for Business Units in SEZs

The fiscal concessions and duty benefits allowed to SEZs are in built into the SEZs Act, 2005 and Rules framedthereunder. These exemptions are uniformly applicable to all SEZs and are primarily in the nature of incentives for export and are consistent with the principles that guide export promotion initiatives of the Government in general. Since… Read More

Minister for Civil Aviation Stops ˜Companion Free Scheme™ After Air India Discovers Serious Irregularities

The Civil Aviation Minister, Shri Ajit Singh has directed the CMD, Air India to stop the Companion Free Scheme with immediate effect. This action was taken following the detection of irregularities .The Vigilance Department of Air India earlier discovered serious irregularities and misuse of Companion Free Scheme (CFS) in Air India while scrutinizing the CFS… Read More

Submission of Undertaking: Renewal of Authorisation

RBI/2012-13/494 IDMD.PDRD.No. 3089/03.64.027/2012-13 May 08, 2013 All the Primary Dealers Dear Sir/Madam, Submission of Undertaking: Renewal of Authorisation In terms of Para 1.4 of Section I (for standalone PDs) / Para 2.3 of Section II (for Bank-PDs) of the Operational Guidelines to Primary Dealers dated July 02, 2012; the PDs are required to have a… Read More

Delay in re-presentation of technical return cheques and levy of charges for such returns

RBI/2012-13/493 DPSS.CO.CHD.No. 2030/03.06.01/2012-2013 May 7, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs /Local Area Banks Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Madam / Dear Sir, Delay in re-presentation of technical return cheques and levy of charges for such returns As… Read More

RBI Committee suggests GIRO based Indian Bill Payment System

The Reserve Bank of India (RBI) has today released the report of the committee set up to study the feasibility of implementation of GIRO based payment systems in India (Chairman, Shri G. Padmanabhan). The committee has highlighted the need for developing an electronic bill payment system based on a GIRO model for payment of dues… Read More

RBI Working Paper Series 4 /2013 Monetary Policy Transmission Faster When Monetary System is in Deficit Mode

The Reserve Bank of India today placed on its website a Working Paper titled Financial Development and Monetary Policy Transmission across Financial Markets: What Do Daily Data tell for India? under the RBI Working Paper Series. The paper has been authored by Dr. Partha Ray and Shri Edwin Prabu. Developed and integrated financial markets are… Read More

Indian Financial Markets: Fuelling the Growth of the Indian Economy

(Address delivered by Shri. Harun R Khan, Deputy Governor, Reserve Bank of India at the inaugural session of the conference on Indian Financial Markets: Fuelling the Growth of the Indian Economy organized by the Confederation of Indian Industry at the ADB Annual Conference on May 4, 2013 at Greater NOIDA, Delhi NCR) 1. Dr. Arvind… Read More

Financial Development and Monetary Policy Transmission Across Financial Markets: What Do Daily Data tell for India?

This paper seeks to address two questions In Indian context. First, what is the nature of integration among different segments of Indian financial markets? Second, what has been the influence of monetary policy on different segments of financial markets? As far as domestic financial integration is concerned, the study finds that the money market segment… Read More

MoC&IT Clarification on Issues related to Spectrum Allocation

A Committee had been constituted in Deptt of Telecom to look into the issues related to administrative allotment/ assignment of spectrum in the various categories i.e. Captive Mobile Radio Trunk Service (CMRTS), Public Mobile Radio Trunk Service (PMRTS), Commercial VSATs and all captive users etc. The Committee had submitted its report containing, inter-alia, periodic review… Read More

MGNREGA Payment Through Post Offices

State Governments have entrusted post offices to disburse wages to workers under Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). Such disbursal of wages is done either through worker™s wage accounts or Post Office Savings Bank (POSB) accounts. On receipt of the wage list and funds from the State Government, the post offices credit the… Read More

TRAI Consultation Paper – Extension of dates for receiving public comments

The Telecom Regulatory Authority of India (TRAI) released a consultation paper on Guidelines/Accreditation Mechanism for Television Rating Agencies in India on 17th April, 2013, inviting written comments from the stakeholders by 9th May, 2013 and counter comments by 16th May 2013. On request of the stakeholders, the last date for receipt of written comments has been extended up to 23.05.2013 and… Read More