Decontrol of Sugar proposals likely to be placed before the cabinet in a week
The decontrol of the Sugar sector has taken a new turn with the PM Mr. Manmohan Singh intervening to ensure speed to that process. The sector has remained under strict state supervision despite ongoing liberal reforms which started two ago. The Prime Minister has asked the Ministry of Food to start acting promptly on the… Read More
Contractor™s liability to pay gratuity can be fastened on the principal employer
CLR Editorial Notes: In the present case the Madras High Court, was called upon to decide on an issue dealing with the payment of gratuity to an employee of the Mettur Thermal Power, for the period from 16.2.1988 to 30.4.1999, while performing services as a contract employee. The court held that even the contractor liability… Read More
Even on the termination of the agreement/contract, the arbitration agreement would still survive
CLR Editorial Note: The main issue in dispute in the present case was whether disputes that have arisen in relation to the termination of the MOU and the consequences thereof, are covered by the arbitration clause in the MOU which clearly provides for resolution of disputes through arbitration. The Supreme Court has held that since the… Read More
ICAI Releases Guidance Note on Accounting for Oil and Gas Producing Activities
Oil and gas is the lifeline of the economy of a country. The economic health of a country, among other factors, is also measured by the amount of oil and gas that is consumed in the country India, though having ample supply of natural mineral wealth, has traditionally been an importer of oil and gas. Every year a large… Read More
DVAT General Public Notice to Contractors/ Builders/ Developers/ Collaborators
GOVERNMENT OF NCT OF DELHI DEPARTMENT OF TRADE AND TAXES VYAPAR BHAWAN; I.P. ESTATE; NEW DELHI PUBLIC NOTICE (Attention: General Public, Companies, Group Housing Societies, Builders, Contractors, Developers, Collaborators, etc.) 1 All Contractors/ Builders/ Developers/ Collaborators, etc. (in short contractor) engaged in development /construction of immovable properties in Delhi are required to seek registration and… Read More
Amendments in the Reward/Incentive Schemes of Chapter 3 of Foreign Trade Policy
TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-1 SECTION-1 GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE No. 51 (RE2012)/2009-14 NEW DELHI, DATED: 5th March, 2013 Subject: Amendments in the Reward/Incentive Schemes of Chapter 3 of Foreign Trade Policy 2009-14 - Appendix 37A,… Read More
Sixth Schedule DVAT entry Amendment – new word “European Union” introduced
TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES VYAPAR BHAWAN, I. P. ESTATE, NEW DELHI-110002 No.F.5 (54)/Policy-II/VAT/ 2012-13/1331-1343 Dated: 05/03/2013 NOTIFICATION No.F.5 (54)/Policy-II/VAT/Amendment/2012-13/ -WHEREAS the Ministry of External Affairs, Government of India vide letter No. D-II/451/12(44)/2007 dated 16/01/2013 has… Read More
SEBI Constitutes Committee to review Insider Trading Regulations
Two decades have passed since the SEBI (Prohibition of Insider Trading) Regulations, 1992 were notified which was framed to deter the practice of insider trading in the securities of listed companies. Since then there have been several amendments to the Regulations and judicial paradigm through case laws have also evolved in India. In fact, world… Read More
Companies eligible for shifting from Trade for Trade Settlement to Normal Rolling Settlement
CIRCULAR CIR/MRD/DP/ 07 /2013 March 05, 2013 To, All Stock Exchanges Dear Sir / Madam, Sub: Establishment of Connectivity with both depositories NSDL and CDSL Companies eligible for shifting from Trade for Trade Settlement (TFTS) to Normal Rolling Settlement 1. It is observed from the information provided by the depositories that the companies listed in… Read More
Approach to regulation and supervision in the post crisis world
(Keynote address by Shri Anand Sinha, Deputy Governor, Reserve Bank of India at the program ˜Supervisory Effectiveness in the Post Crisis World™ organized by Centre for Advanced Financial Research and Learning (CAFRAL) at Mumbai on February 4, 2013) Ms. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL), Mr. Aristobulo de Juan, a… Read More
Performance Audit of Agricultural Debt Waiver and Debt Relief Scheme, 2008
RBI/2012-13/430 RPCD.CO.FSD. No. BC. 67/05.04.02/2012-13 March 6, 2013 The Chairman/ Managing Director/ Chief Executive Officer All scheduled commercial banks & Local Area Banks Madam/Dear Sir, PERFORMANCE AUDIT OF AGRICULTURAL DEBT WAIVER AND DEBT RELIEF SCHEME, 2008 Please refer to our Circular RPCD.CO.FSD. No. BC.58/05.04.02/2012-13 dated January 14, 2013 on the above subject. Considering the serious… Read More
National Commission for Higher Education & Research – A National overarching regulatory body in higher education proposed
The setting up of the national overarching regulatory mechanism for higher education was specifically opposed by the State Governments of Bihar, Kerala, Punjab, Tamil Nadu and West Bengal. This information was given by Shri M.M. Pallam Raju, Minister for Human Resource Development, in written reply to a question in the Lok Sabha today. The Central… Read More
Top Ten Profit Making Central Public Sector Enterprises
Table shown below provides the list of top ten profit making CPSEs. Oil & Natural Gas Corporation Ltd., NTPC Ltd. and Coal India Ltd. ranked first, second and third CPSEs respectively amongst the top ten profit making CPSEs. As per the Public Enterprises Survey 2011-12, tabled in Parliament recently, all the top ten profit making… Read More
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