Corporate Law Reporter - The Daily Journal

Supreme Court sets aside judgement related to cheque dishonour due to signature mismatch

CLR Editorial Notes: A Supreme Court Justice Bench had set aside a verdict given by Hon'ble Gujarat High Court, in a case of dishounour of cheque due to mismatch of signatures of signatories. The HC had held that a criminal proceeding against the perpetrator for cheque dishonour can be initiated only in an event where… Read More

Excise Tribunal disposes Case related to incorrect application of certain Cenvat Credit Rules, 2004

CLR Editorial Notes: The case refers to an appeal filed with the CESTAT against CCE, Hyderbad on incorrect application of an Excise law Section for a CENVAT credit case and corresponding appeal to set aside the penalty. It was contested by the appellant that the rule under which the penalty notice has been served does… Read More

SEBI Order with respect to esrtwhile Hyderabad Stock Exchange

Order in the matter of Exit of Hyderabad Securities and Enterprises Limited (Erstwhile Hyderabad Stock Exchange 1.There are currently 25 Stock Exchanges across the country most of which are non-operational and only five have trading on their platform which includes NSE, BSE, MCX, USE and CSE. 2.SEBI vide Circular dated May 30, 2012 had issued… Read More

Increase in FII debt limit for Government and Corporate Debt category

CIRCULAR CIR/IMD/FIIC/3/2013 February 08, 2013 To All Foreign Institutional Investors Through their designated Custodians of Securities Dear Sir/Madam Sub: Increase in FII debt limit for Government and Corporate Debt category 1. The Reserve Bank of India vide circular RBI/2012-13/391, dated January 24, 2013, had enhanced the limit for investment by FIIs in the Government Debt… Read More

Liquidity Enhancement Schemes for Liquid Securities in Equity Cash market

CIRCULAR CIR/MRD/DP/05/2013 February 08, 2013 To All Stock Exchanges. Dear Sir/Madam, Sub: Liquidity Enhancement Schemes for Illiquid Securities in Equity Cash market 1. SEBI vide its circular CIR/DNPD/5/2011 dated June 02, 2011, permitted liquidity enhancement schemes (LES) in Equity Derivatives Segment and specified broad guidelines for the same. 2. Pursuant to the introduction of LES… Read More

SEBI Suspends Certificate of registration on account of functioning irregularities

PR No. 21/2013 Certificate of registration of M/s. Chanakya Stock Broking Services Pvt. Ltd., suspended Shri Prashant Saran, Whole Time Member, SEBI has vide an order dated February 05, 2013, in the matter of M/s. P.N. Vijay Financial Services Pvt. Ltd., suspended the certificate of registration of the stock broker M/s. Chanakya Stock Broking Services… Read More

Supreme Court fixes responsibility in Delay of filing Special Leave Petition

Section 261 of the Income-tax Act, 1961 - Supreme Court - Appeals to - Delay in filing of SLP in Supreme Court - fixing of responsibility Letter No. DGIT (L&R)/SOP for SLP/2012-13/04, dated 4-2-2013 Please refer to the above. 2. I am directed to say that the delay in filing of SLP is a serious… Read More

ICSI organises International Trade Development and Investor Awareness

Background The bilateral trade between India and Indonesia is expected to grow to around $ 45 billion by 2015. With signing of many MoUs, the trade between the two nations is expected to grow at a rapid pace. There is a vast scope for cooperation between Indonesia and India interalia in the fields of tourism, infrastructure,… Read More

Recognition to Members of ICSI under SEBI (Investment Advisers) Regulations, 2013

SEBI has issued SEBI (Investment Advisers)Regulations, 2013 on January 21,2013, requiring yearly audit of Compliance by Members of ICSI. Regulation 19 (3) reads as under : An investment adviser shall conduct yearly audit in respect of compliance with these regulations from a member of Institute of Chartered Accountants of India or Institute of Company Secretaries of… Read More

Disinvestment of Paid up Equity Capital in Oil India Limited

Disinvestment of 10% of Paid up Equity Capital in Oil India Limited through Offer for Sale (OFS) Mechanism.Completed; Net Proceeds Worth Rs. 3141.39 Crore.Received by The Government through OFS The offer on sale(OFS) transaction in Oil India Ltd. was held on 01.02.2013. A total number of 601,13,157 shares were sold at the cut off price of Rs.… Read More

DGFT stops export of Stone Aggregates to Maldives

To be Published in the Gazette of India Extraordinary Part-II, Section - 3, Sub-Section (ii)) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No 34 (RE2012)/2009-2014 New Delhi, Dated: 8th February, 2013 Subject: Export of Stone Aggregate to Maldives. S.O. (E) In exercise of powers conferred by Section 5 of the Foreign Trade… Read More

Amendment in computation of freely transferable duty credit scrip under EPCG Scheme

To be published in The Gazette of India Extraordinary (Part-I, Section-1) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi -110 011 Public Notice No. 48/2009-2014 (RE-2012) Dated the 8th February, 2013 Subject: Amendment in Provisions of Para 5.23 of HBP v1 (EPCG Scheme). In… Read More

DGFT modifies policy related to Duty paid on capital goods under Post Export EPCG Scheme

(To be published in the Gazette of India Extraordinary) Part II, Section 3, Sub-Section (II) Government of India Ministry of Commerce and Industry Department of Commerce Udyog Bhawan Notification No. 33 (RE-2012) /2009-2014 New Delhi, the 8th February, 2013 Subject: Amendment in FTP (RE-2012)(2009-2014)- Post Export EPCG Scheme S.O (E) : In exercise of the powers… Read More