SEBI Order in the Case of Lack of Due Diligence and Conduct of Business
Consent order on the application submitted by Indiabulls Securities Limited A Panel consisting of Whole Time Members, SEBI, Shri Rajeev Kumar Agarwal and Shri Prashant Saran has passed a consent order on January 02, 2013 on the application submitted by Indiabulls Securities Limited, in accordance with SEBI Circular dated April 20, 2007 for consent orders. … Read More
SEBI Order in the Case of Creation of Artificial Volume
SEBI has been investigating a case of aiding and abetting in creation of artificial stock volumes which impacted the price of the scrips of Genus Commutrade Limited. It was revealed in SEBI's investigations, that M/s Parklight Investments Private Limited ('PIPL'), a stock broker and member BSE, was found to have aided and abetted its clients in creation… Read More
Internship Programme of the Department of Economic Affairs for 2013-14
No. A- 48011/27/2012 - Admn.I Government of India Ministry of Finance (Department of Economic Affairs) New Delhi, 8"' January, 2013. Subject : Internship Scheme of the Department of Economic Affairs for 2013-14. Department of Economic Affairs has the mandate to carry out not only the economic diplomacy but also to build and maintain the economic… Read More
MoF Guidelines for Preparation of Outcome Budget 2013-2014
Introduction Outcome budgets have become an integral part of the budgeting process since 2005-06 OUTCOME BUDGET 2013-14 will broadly indicate the physical dimensions of the financial budgets as also the actual physical performance in 2011-12, performance for the first 9 months of the year 2012-13 and the targeted performance during 2013-14. Scope of Coverage in… Read More
Modified Special Incentive Package Scheme
Modified Special Incentive Package Scheme (M-SIPS) has been introduced to offset disability and attract investment in Electronics Systems Design and Manufacturing (ESDM) Industries. With the release of Guidelines for M-SIPS by the Ministry of Communication and IT, appointment of Nodal officer, and notification of application fee, M-SIPS is now ready to receive applications. The M-SIPS scheme… Read More
Disinvestment of Engineers India Ltd.
The Cabinet Committee on Economic Affairs approved the disinvestment of 10 percent paid up equity in Engineers India Ltd. (EIL) out of its equity capital holding of 80.40 percent through a prospectus based Further Public Offering (FPO), in the domestic market as per SEBI Rules and Regulations. After this disinvestment, Government of India™s shareholding in… Read More
Review of India™s Foreign Trade during December, 2012
The Ministry of Commerce released a review of the Foreign trade done in India during the month of December 2012. The following is the excerpt of the same. EXPORTS (including re-exports) Exports during December, 2012 were valued at US $ 24877.57 million (Rs. 135950.47 crore) which was 1.92 per cent lower in Dollar terms (1.75… Read More
FIPB approves 14 FDI Proposals
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 21, 2012, the Government has approved 14 proposals of Foreign Direct Investment (FDI) amounting to Rs. 1310.60 croreapproximately. Following fourteen (14) proposals have been approved. Sl. No. Name of theapplicant Particulars of the proposal FDI/NRIinflows (` In crore) COMMERCE… Read More
RBI Allots Lead Bank Responsibility in Arunachal new district
RBI/2012-13/370 RPCD.CO.LBS.BC.No. 57/02.08.001/2012-13 January 10, 2013 The Chairmen & Managing Directors All Lead Banks Dear Sir/Madam, Formation of new District in the State of Arunachal Pradesh - Allotment of Lead Bank Responsibility The Government of Arunachal Pradesh vide Gazette Notification No. 200, Vol XVIII dated December 9, 2011 had notified the formation of one new… Read More
Amendment to Section 15M of Securities and Exchange Board of India (SEBI) Act, 1992
The Cabinet today approved the proposal of the Department of Economic Affairs for amendment to Section 15M of the Securities and Exchange Board of India (SEBI) Act, 1992, to enlarge the field of selection for the post of Presiding Officer (PO) of the Securities Appellate Tribunal (SAT), by including sitting or retired judge of a… Read More
Recapitalization of Public Sector Banks
The Union Cabinet today approved the following: (i) To provide capital funds to Public Sector Banks (PSBs) during the year 2012-13 to the tune of Rs.12,517 crore to maintain their Tier-l CRAR at comfortable level, so that they remain compliant with the stricter capital adequacy norms under BASEL-III as well as to support internationally active… Read More
Statement by Revenue Secretary Regarding Payment of Indirect Taxes
PRESS INFORMATION BUREAU GOVERNMENT OF INDIA ***** STATEMENT BY REVENUE SECRETARY REGARDING PAYMENT OF INDIRECT TAXES; URGES ALL ASSESSEES TO ENSURE THAT THEY MAKE TIMELY AND CORRECT PAYMENT OF CUSTOMS DUTY, CENTRAL EXCISE DUTY AND SERVICE TAX FOR CONTINUED TRADE FACILITATION New Delhi, Pausa 12, 1934 January 2, 2013 The text of the Revenue Secretary… Read More
Public Suggestion solicited for Engagement with Free Trade Agreements
Department Related Parliamentary Standing Committee on Commerce Invites Suggestions of Public on India's Engagement with Free Trade Agreements (FTAS): Challenges and Opportunities The Department Related Parliamentary Standing Committee on Commerce, headed by Shri ShantaKumar, M.P., Rajya Sabha has taken up the subject of " India`s Engagement with Free Trade Agreements (FTAs): Challenges and Opportunities" for examination and report to the Parliament.… Read More
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