Corporate Law Reporter - The Daily Journal

FM Speak :: Emphasizes need for enhancing World Bank’s capital base to meet the challenges of developing countries

Finance Minister During his Meeting with the World Bank President Emphasizes the Need for Enhancing the Capital Base of the Bank to Meet the Challenges of Poverty Reduction and Infrastructure Development in the Developing Countries In view of the huge investment requirements in the infrastructure, social and rural development sectors in India, the Union Finance… Read More

Extension of date for receipt of comments on TRAI™s consultation paper on Issues relating to Media Ownership

The Telecom Regulatory Authority of India (TRAI) released a consultation paper on Issues relating to Media Ownership on 15th February, 2013, inviting written comments from the stakeholders by 8th March, 2013 and counter comments by 15thMarch 2013. On request of the stakeholders, the last date for receipt of written comments has been extended up to… Read More

Extension of last date to receive comments on TRAI™s pre-consultation on Pan India Full Mobile Number Portability

Telecom Regulatory Authority of India (TRAI) had invited comments of stakeholder on pre-consultation on ˜Full Mobile Number Portability (Pan-India Number Portability)™ dated 20th February 2013. The last date for receiving written comments from the stakeholders was fixed as 07th March 2013. Keeping in view the request of stakeholders for extension of time for sending their… Read More

Industry & Budget 2013-14

The General Budget presented by the Finance Minister Shri P. Chidamaram for the year 2013-14 had several initiatives for the Industries. The Budget for 2013-14 has a clear focus on catalyzing investment, creating jobs and providing opportunities for the youth. Several positive measures have been announced in the Budget which will boost the investment sentiment.… Read More

India™s Foreign Trade: February, 2013

EXPORTS (including re-exports) Exports during February, 2013 were valued at US $ 26259.36 million (Rs. 141206.31 crore) which was 4.23 per cent higher in Dollar terms (13.99 per cent higher in Rupee terms) than the level of US $ 25194.42 million (Rs. 123873.66 crore) during February, 2012. Cumulative value of exports for the period April-February 2012 -13… Read More

Bill Introduced in the Lok Sabha for Setting UP Agricultural Biosecurity Authority

Agriculture and FPI Minister, Shri Sharad Pawar introduced a Bill in the Lok Sabha today to provide for establishment of an Authority for prevention, control, eradication and management of pests and diseases of plants and animals and unwanted organisms. The proposed legislation will ensure agricultural biosecurity of the country for common benefit and for safeguarding… Read More

RBI updates instructions/ guidelines on Classification and Reporting of Frauds

RBI/2012-13/433 UBD CO BPD (PCB) Cir. No.41/12.05.001/2012-13 March 08, 2013 Chief Executive Officer of All Primary (Urban) Co-operative Banks Madam / Dear Sir, Frauds- Classification and Reporting Please refer to our Master Circular UBD.CO.BPD. (PCB) MC No. 17/12.05.001/2012-13 dated July 02, 2012 advising the consolidation of our updated instructions/ guidelines on the captioned subject. 2.… Read More

RBI releases its monthly Bulletin for March 2013

The Reserve Bank of India today released the March 2013 issue of its monthly Bulletin. The Bulletin includes three special articles: (i) Developments in India's Balance of Payments during Second Quarter (July-September) of 2012-13; (ii) Position of Order Books, Inventories and Capacity Utilisation for the Quarters during October 2011 to September 2012; and (iii) Finances… Read More

GoI nod to providing Time Bound Services to Citizens

The Government, in a meeting on 7th March, has given its nod to a Bill which is aimed at providing time-bound service delivery for passports, pensions and birth and death certificates, among several others. The bill was introduces in 2011 and is known as the Right of Citizens for Time-Bound Delivery of Goods and Services… Read More

Restraining for engaging in same line of business for 7 years is capital in nature and amounts to a depreciable intangible asset under the IT Laws

CLR Editorial Notes: In the present case, the appellant is a joint-venture between M/s. Sharp & L&T. Apparently, the agreement entered into with the L&T in view of the changed relationship ensures that the latter does not enter into the same business. The High Court of Delhi has held that has held that undoubtedly, it… Read More

Sanction of Scheme u/s 394 of Companies Act constitutes an “instrument” and “conveyance” within the meaning of the Stamp Act

CLR Editorial Notes: In the present case the aforementioned companies filed petitions before the High Court of Calcutta seeking exclusion of payment of stamp duty on transfer of properties pursuant to a sanction of Scheme under the Companies Act. The High Court of Calcutta has held that an order sanctioning a scheme of amalgamation or… Read More

Contribution of the Central Public Sector Enterprises to GDP and Central Exchequer

The share of ˜gross value addition™ in Central Public Sector Enterprises (net value addition + depreciation) as percent of Gross Domestic Product (at current market price) stood at 5.67 percent in 2011-12 against 5.44 percent in 2010-11. If, however, the under-recoveries of oil marketing companies (amounting to Rs. 55041 crore in 2011-12 and 37190 crore… Read More

12th Five Year Plan envisages expansion and strengthening of the public health systems through Universal Free Health Coverage

Establishing a universal health coverage system entails assured access to a defined essential range of medicines and treatment at an affordable price to each individual. In this direction, the 12th Five Year Plan envisages substantial expansion and strengthening of the public health systems both in rural and urban areas, with robust provision of primary health care. Several of… Read More