Listing And Delisting Of Securities In India: An Analysis
1. Introduction Companies require huge investments for start ups. Among the many choices that they have, they often resort to calling for investments in their organization from the public. This is done by issuing securities to the investor. The investor thus has a stake in the capital of the company. A share is merely a… Read More
Implementation on National Child Health Programme under Under National Rural Health Mission
Under National Rural Health Mission, the following interventions are being implemented to improve child health situation in the country: 1. Promotion of Institutional Delivery through JananiSurakshaYojana (JSY) and JananiShishuSurakshaKaryakram (JSSK): Promoting Institutional delivery to ensure skilled birth attendance is a key to reducing both maternal and neo-natal mortality. JSY incentivizes pregnant women to opt for… Read More
Health Insurance Scheme: Over 3.41 Crore Cards Issued
As informed by the Insurance Regulatory and Development Authority (IRDA), a study conducted by the National Council of Applied Economic Research, on behalf of IRDA, and based on the survey of 30,200 respondents spread over 29 States and Union Territories, indicate that with regard to health insurance, the level of awareness is quite low since… Read More
GoI Statement on Steps to Check Inflow of Illegal Money
Reserve Bank of India (RBI) has issued comprehensive instructions/guidelines to banks on Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under PMLA, 2002. Also under PMLA 2002, the reporting entities, including banks, financial institutions and intermediaries of securities market, payment system operators and authorized persons which include Money… Read More
Newly Created Income-tax Overseas Units in 8 countries
Income-tax Overseas Units (ITOUs) manned by tax officers at the level of First Secretary have been established in Mauritius and Singapore in May/June, 2010. Further, posting orders in respect of officers to be posted to newly created ITOUs in Indian missions at Cyprus, France, Germany, Japan, Netherlands, UAE, UK and USA have been issued. The… Read More
SEBI observes Irregularities in Acquisition of Shares under SAST Regulations
Securities and Exchange Board of India (SEBI) has not observed any irregularities in acquisition of shares by promotes in open offers. However, SEBI has observed instances where promoters have acquired shares without fulfilling the obligation to make an open offer. The data regarding the total number of cases where violation of SEBI (Substantial Acquisition of… Read More
Government Steps to Tackle Black Money Stashed Abroad
The Government has been receiving a number of representations from public, demanding disclosure of the names of black money depositors in banks located abroad. Since the information received from the Foreign Governments is covered by the confidentiality provisions of Double Taxation Avoidance Agreements (DTAAs) and Tax Information Exchange Agreements (TIEAs), the Indian government cannot disclose… Read More
Case Filed with Economic Officers Wing against Singapore Telecommunications Limited for violation of India Telegraph Act
During a routine inspection carried out by Department of Telecommunications (DoT), it was found that an unlicensed foreign entity M/s Singapore Telecommunications Limited (STL) was providing international Private Lease Circuits (IPLC) to the customers in India and issuing bills to the customers in India resulting into loss of revenue to the Government. M/s STL had… Read More
Central Administrative Tribunal urged to improve its Efficiency – Propasals to Amend CAT Act under Consideration
Union Minister of State for Personnel, Public Grievances and Pensions Shri V Narayansamy said that there is an urgent need to strengthen Central Administrative Tribunal( CAT) and make it more effective. Speaking as Special Guest at the daylong All India Conference of the members of Central Administrative Tribunal here today he said to streamline the… Read More
Companies Directors Identification Number (Amendment) Rules, 2013
The Ministry of Corporate Affairs (MCA) vide its Notification dated 15th March, 2013 amended the Companies (Director Identification Number) Rules, 2006. These Rules may be called as Companies Directors Identification Number (Amendment) Rules, 2013 and they shall came into force on the date of their publication in the Official Gazette. ******** [TO BE PUBLISHED IN THE GAZETTE… Read More
MCA Clarification under Section 372A(3) of the Companies Act, 1956
The Ministry of Corporate Affairs (MCA) vide its General Circular No. 06 /2013 dated 14.03.2013 has provided a clarification under Section 372A (3) of the Companies Act, 1956, which says that in such cases where the effective yield (effective rate of return) on tax free bonds is greater than the yield on prevailing bank rate,… Read More
GoI clarification on SEBI (Credit Rating Agencies) Regulations, 1999
According to SEBI (Credit Rating Agencies) Regulations, 1999, a credit rating agency (CRA) shall not offer fee-based services to the rated entities, beyond credit ratings and research. Further, SEBI Guidelines require a CRA to disclose annually : (a) Its total receipt from rating services and non-rating services, (b) Issuer wise percentage share of non-rating income… Read More
GoI Clarification on SME Stock Exchanges
Securities and Exchange Board of India (SEBI) vide its circular dated May 18, 2010 has prescribed the guidelines regarding setting up of a Stock exchange/ a trading platform by a recognized stock exchange having nationwide trading terminals for Small and Medium Enterprises (SME). Subsequently on request of BSE Ltd. (BSE) and National Stock Exchange of… Read More
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