CLR Important | Provision Regarding ˜Key Managerial Personnel™ in the Companies Bill, 2012
The Companies Bill, 2012, as passed by Lok Sabha, inter-alia, incorporates provisions (Clause 203) regarding appointment of ˜Key Managerial Personnel™ (KMP) which provides that every Company, belonging to such class or classes of company as may be prescribed, shall have a Company Secretary as whole-time key managerial personnel. Giving this information in written reply to… Read More
Unpaid and Unclaimed Dividends with Companies
According to data available on the ˜MCA21™ portal of the Ministry of Corporate Affairs, an amount of Rs.1,101.35 crore is presently available with 1,406 companies on account of unpaid and unclaimed dividends. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that… Read More
Creation and launch of an Exchange Traded Fund comprising stocks of listed CPSEs
The Cabinet Committee on Economic Affairs today approved the setting up of a Central Public Sector Enterprises (CPSE) Exchange Traded Fund (ETF), which would comprise CPSE stocks (from amongst the listed CPSE stocks). Each stock would have a fixed weightage in the basket. The composition of the basket, the launch of the New Fund Offer… Read More
Proposal for extension of completion date of NATRiP project
The Cabinet Committee on Economic Affairs (CCEA) today approved the extension of the date of completion of the project by two years beyond 31st December, 2012 to 31st December, 2014. The National Automotive Testing and R&D Infrastructure Project (NATRiP) was approved by the CCEA on 25th July, 2005 with a total investment of Rs.1718 crore,… Read More
Extension of Government Guarantee to enable NAFED and CWC
Extension of Government Guarantee of Rs.1781 crore along with waiver of one percent guarantee fees to enable NAFED and CWC to undertake price support operations for procurement of oil seeds, pulses and cotton The Cabinet Committee on Economic Affairs today approved the proposal of the Department of Agriculture & Cooperation for extension of government guarantee… Read More
Price Support Scheme – Full reimbursement of losses to farmers
The Cabinet Committee on Economic Affairs (CCEA) today approved the removal of the cap on the amount of losses to be reimbursed on procurement of copra in the interest of farmers. This will ensure remunerative prices to growers. Copra prices are already ruling below Minimum Support Price (MSP) level in some parts of the country,… Read More
CLR Snippets | IKEA Brand given a Go-ahead to form single brand retail
The Cabinet Committee on Economic Affairs today gave its approval to the proposal of M/s. Ingka Holding B.V., Netherlands, as recommended by the Foreign Investment Promotion Board (FIPB). The approval would result in FDI inflows amounting to Rs.10,500 crore approximately into the country. **** Read More
Rashtriya Madhyamik Shiksha Abhiyan – revision of certain norms
The Cabinet Committee on Economic Affairs has approved the proposal of the Ministry of Human Resource Development for the Rashtriya Madhyamik Shiksha Abhiyan (RMSA). This will facilitate the States / UTs to execute the civil works for construction of new schools as well as expanding capacity in existing schools. The details are as follows: (i)… Read More
Financial Restructuring of Andrew Yule & Company Limited
The Cabinet Committee on Economic Affairs (CCEA) today approved the financial restructuring plan of Andrew Yule Company Limited (AYCL) involving conversion of outstanding Government of India (GOI) loan of Rs.41.52 crore into equity, waiver of interest of Rs.33.43 crore accrued thereon, waiver of differential interest arising out of reconciliation of books of accounts of the… Read More
Pune – Program on Fundamentals of Labour Laws for Managers – May 7
Please send your reply on seminar@satvam.com or seminar@satvamindia.com Program on Fundamentals of Labour Laws for Managers Date & Time : Tuesday, May 7, 2013 - 09.30 a.m. to 5.30 p.m. (Registration & breakfast: 9.00 to 9.30 am) Venue : The Coronet Hotel, Apte Road, Deccan Gymkhana, Pune 411 004 (Opp. Santosh Bakery) Benefits/ learning objectives:… Read More
Survey for Socio-Economic Field
The Minister of State (Independent Charge) for Statistics and Programme Implementation Shri Srikant Kumar Jena has said that National Sample Survey Office (NSSO) in the Ministry of Statistics and Programme Implementation has devoted its 70th Round of National Sample Surveys to the subject of Land & Livestock Holdings, Debt & Investment and Situation Assessment of… Read More
Amendments in the National Food Security Bill Introduced in the Lok Sabha
Amendments in the National Food Security Bill Introduced in the Lok Sabha Bill Provides Rice at the Rate of Rs 3 and Wheat at Rs 2 Per Kg Food Security Allowance in Case of Non Supply of Foodgrains Proposed Special Focus on Nutritional Support to Women and Children Women to Get 6000 Rs Maternity Allowance… Read More
Online advertising on foreign entity not taxable in India – An Analysis
Introduction The recent decision of ITO v. Right Florists P. L. I.T.A. No. : 1336/ Kol. / 2011, deals with India™s right to tax payment made by an Indian entity (˜ICO™) to a foreign entity for online advertising services provided by the latter. Here, ICO made payments to Google Ireland and Yahoo USA (together… Read More
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