Corporate Law Reporter - The Daily Journal

Companies eligible for shifting from Trade for Trade Settlement (TFTS) to Normal Rolling Settlement

CIRCULAR CIR/MRD/DP/ 35 /2012 December 17, 2012 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… Read More

Requirement of Base Minimum Capital for Stock Broker and Trading Member

CIRCULAR CIR/MRD/DRMNP/ 36 /2012 December 19, 2012 To All stock exchanges. Sir / Ma™am, Sub: Requirement of Base Minimum Capital for Stock Broker and Trading Member 1. SEBI vide circular no SMD/SED/RCG/270/96 dated January 19, 1996 and circular no MRD/DoP/SE/Cir-07/2005 dated February 23, 2005 had prescribed the requirement of Base Minimum Capital (BMC) for stock… Read More

Updating Tax Officials’ Knowledge Of Law

PRESS RELEASE, DATED 14-12-2012 The assessing officers undergo in-depth training on direct tax at the induction stage at National Academy of Direct Taxes, Nagpur (NADT) and the seven subordinate Direct Taxes Regional Training Institutes (DTRTIs) located across the country and on indirect tax at National Academy for Customs, Excise and Narcotics, Faridabad and its nine… Read More

Income Tax Refund, Press Release Dated 14.12.2012

PRESS RELEASE, DATED 14-12-2012 Processing of returns of income, including those with refund claim, is a continuous process. Statutory time limit to process returns of income is with reference to the financial year of their receipt. As per the Income Tax Act, 1961 returns received during the financial year can be processed upto one year… Read More

Customs Tariff Notification

Government of India Ministry of Finance (Department of Revenue) Notification No. 61/2012-Customs New Delhi, the 18th December, 2012 G.S.R. 904 (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to… Read More

Companies Bill Document as Passed by Lok Sabha

Lok Sabha has passed the Companies Bill, 2012. The Government has said that the aim of this bill is to protect the interest of employees and small investors alike, while also encouraging firms to undertake Corporate social responsibility and voluntarily welfare, instead of having to impose the same through what is called "inspector raj". The Bill still… Read More

Advance Tax Collections Registers Growth of more than 10% During the First Twenty Days of December 2012

Advance Tax Collections for the month of December 2012 up to 20th December, 2012 registered a growth of 10.44% over the corresponding period last year. Advance tax Collections are worth Rs. 78,226 crores during this period as against Rs.70,826 crores collected during the corresponding period last year. The overall growth rate of advance tax collections… Read More

Salient Features of Banking Laws (Amendment) Bill 2012

The Banking Laws (Amendment) Bill 2011 was introduced in order to amend the Banking Regulation Act, 1949, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980. The said Bill has been passed by both the Houses of Parliament during its just concluded Winter Session. This Bill would strengthen the regulatory powers of Reserve Bank… Read More

Parliamentary Consultative Committee Amendments in Labour Laws

Parlimentary Consultative Committee meeting on Comprehensive Amendments in Labour Laws Moots Effective Implementation and speedy Grievance Redressal Members participating in the meeting of Parliamentary Consultative Committee on Comprehensive Amendment in Labour Laws have urged the government for the effective and speedy implementation of labour laws along with the timely redressal of Grievances. In meeting held… Read More

Investigating the Frauds Committed by the Companies

The Ministry of Corporate Affairs has established Serious Fraud Investigation Office (SFIO) to investigate frauds committed by the companies. During last 4 years ( 2008-2009, 2009-10, 2010-11, 2011-12 and till date) 83 companies were ordered for investigation by SFIO. Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin… Read More

Checking the Cartelisation by Companies

The Government has said that the Competition Commission of India has been set up under the provisions of the Competition Act, 2002 and is fully functional to eliminate practices having adverse effect on competition, including cartelization by companies. This information was given in written reply to a question in the Lok Sabha today by Shri… Read More

Market Research and Analysis unit of Serious Fraud Investigation Office

Serious Fraud Investigation Office (SFIO) which is a multi-disciplinary investigating agency under the Ministry of Corporate Affairs, has set up the Market Research and Analysis Unit for capacity building, co-ordination with other investigating agencies and for market surveillance. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot,… Read More

The Concept and the Feasibility of Developing A Business Index

The Ministry of Corporate Affairs has undertaken a Pilot Study to examine the concept and the feasibility of developing a Business Index. Further details would emerge after completion of the pilot study and sharing its findings with concerned Ministries and Departments. Giving this information in written reply to a question in the Lok Sabha today,… Read More