MCA Notification on Investor Education
The Ministry of Corporate Affairs has notified that Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, has mandated every company to file e-Form 5INV containing the information of unclaimed and unpaid amounts as referred to in subsection (2) of section 205C of the Companies Act,… Read More
RBI-Reporting Platform for OTC Foreign Exchange and Interest Rate Derivatives
RBI/2011-12/616 FMD.MSRG.No.69/02.05.002/2011-12 June 22, 2012 All Category I Authorised Dealer Banks and Primary Dealers Madam/Sir, Reporting Platform for OTC Foreign Exchange and Interest Rate Derivatives Reserve Bank, vide it™s circular No.FMD.MSRG.No.67/02.05.002/2011-12 dated March 9, 2012, had advised that all inter-bank OTC foreign exchange derivatives transactions should be reported on a platform to be developed by the… Read More
ICAI – UDI number to be generated for all certificates issued by Chartered Accountants – Presently Optional
Time and again, various authorities across the country have reposed their faith in chartered accountants as professionals realising the work of their attributes like Integrity, Excellence and Independence. Based on the same, they are relying on various certifications being issued by chartered accountants in practice in the normal course of business. They look upto Chartered… Read More
CBEC-Seeks to levy definitive anti-dumping duty on Pentaerythritol originating in or exported from European Union ( excluding Sweden) for a period of five years
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 33 /2012-Customs (ADD) New Delhi, dated the 20th June, 2012 G.S.R. (E). Whereas, in the matter of import of Pentaerythritol (hereinafter referred to as the subject goods), falling under sub-heading 2905 42 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred… Read More
CBEC-Amendment to CENVAT Credit Rules
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No.28/2012-Central Excise (N.T) New Delhi, the 20th June, 2012 G.S.R. (E).-In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government, hereby makes the following rules further to… Read More
CBEC-Rate of exchange of conversion of each of the foreign currency with effect from 22nd June, 2012
OVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No.52/2012 - Customs (N.T.) DATED THE 21st June, 2012 31 Jyaistha, 1934(SAKA) S.O. (E). In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of… Read More
Secondary market transactions in Government Securities – Short Selling
RBI/2011-12/615 IDMD.PCD.21/14.03.07/2011-12 June 21, 2012 All market participants Dear Sir/Madam Secondary market transactions in Government Securities - Short Selling This has reference to circular IDMD.PCD.14/14.03.07/2011-12 dated December 28, 2011 on the captioned subject. 2. As per extant guidelines, banks are permitted to undertake 'notional' short sale whereby they can sell a security short from HFT portfolio even… Read More
Know Your Client Norms for PCS
Client Information as well as due diligence on clients has become a necessity for professionals in today™s complex business scenario. Such an exercise can be made possible in a structured way. Many professional bodies today advise their members to have KYC about their clients so that professionals can freely exercise and deliver their professional services… Read More
ICAI to offer Scholarships
The Managing Committee of the S.Vaidyanath Aiyar Memorial Fund has decided to award scholarship to 60 articled assistants of the value of Rs. 500/- per month for a period of one year 1st September, 2011 to 31st August, 2012 to poor, needy and meritorious articled assistants requiring scholarship to pursue the chartered accountancy course. The… Read More
India plans to invest US$ 1 trillion in the infrastructure sector alone in the next five years
The Union Minister of Commerce, Industry and Textiles Shri Anand Sharma addressed a group of political and business leaders from Russia and India at the third India-Russia Business Dialogue which was held under the umbrella of the St. Petersburg International Economic Forum 2012. Speaking on the historical bonds between the two nations, Shri Sharma said… Read More
CCI imposes penalty on 11 Cement Manufacturers on violation of the provisions of the Competition Act, 2002
The Competition Commission of India has found cement manufacturers in violation of the provisions of the Competition Act, 2002 which deals with anticompetitive agreements including Cartels. The order was passed pursuant to investigation carried out by the Director General upon information filed by Builders Association of India. The Commission has imposed penalty on 11 Cement… Read More
RBI-White Label ATMs (WLAs) in India – Guidelines
RBI/2011-12/612 DPSS.CO.PD. No. 2298/02.10.002/2011-2012 June 20, 2012 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Authorised ATM Network Operators / Card Payment Network Operators Prospective White Label ATM Operators. Dear Sir, White Label ATMs (WLAs) in… Read More
Annual return on Foreign Liabilities and Assets Reporting by Indian Companies Revised format
RBI/2011-12/613 A.P. (DIR Series) Circular No.133 June 20, 2012 To All Category - I Authorised Dealer Banks Madam / Sir, Annual return on Foreign Liabilities and Assets Reporting by Indian Companies Revised format Attention of the Authorised Dealer (AD) Category I banks is invited to A. P. (DIR Series) Circular No.45 dated March 15, 2011wherein, it… Read More
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