Corporate Law Reporter - The Daily Journal

MCA- Constitution of a Committee to formulate a Policv Document on Corporate Governance

NO. 17/46/2012-CL-V; Government of India™ Ministry of Corporate Affairs Dated: 19th March, 2012 OFFICE MEMORANDUM Subject:-Constitution of a Committee to formulate a Policv Document on Corporate Governance In continuation of this office O.M. of even number dated 7.03.2012, the following amendments/ modifications are made in the composition of the Committee to formulate a policy document… Read More

GOI & ADB signed a $240 million loan agreement for the third and final tranche of the second India Infrastructure Project Financing Facility

The Government of India (GOI), Asian Development Bank (ADB) and the India Infrastructure Finance Company Ltd (IIFCL) today signed a $240 million loan agreement for the third and final tranche of the second India Infrastructure Project Financing Facility (IIPFF II), which aims to stimulate infrastructure development through public-private partnership investments. The Facility was approved in… Read More

GOI & World Bank signed an IDA credit of US$ 152 million to help improve the efficiency, quality, and accountability of health services in the state of UP

Government of India and the World Bank signed an IDA credit of US$ 152 million to finance the Government of India`s (GOI) efforts to help improve the efficiency, quality, and accountability of health services in the state of Uttar Pradesh (UP), one of India™s low-income States with some of the poorest health indicators in the country.… Read More

Govt. takes integrated approach to prevent cyber crimes

In tune with the dynamic nature of Information Technology ( IT) , continuous efforts are on to prevent and recover from cyber attacks. The area of Information Technology is characterised by rapid developments and fast changing obsolescence. With every IT product introduced into the market, newer vulnerabilities are discovered, leaving scope for malicious actions. As… Read More

SAFTA member countries urged to progressively liberalise their trade and investment policies to strengthen the overall trade and commerce

The main items of exports under South Asian Free Trade Area Agreement (SAFTA) are Cotton Yarns, Pharmaceuticals, Leather, Chemicals, Footwear Sole, Polished Granite Slabs, Green Marbles, Raw Jute, Steel Billets, Non-Alloy Steel, Groundnut and Dry Coconut. The main items of imports under SAFTA are Metalifers Ores & Metal Scrap, Fruits and Nuts excluding Cashew Nuts,… Read More

‘Non Banking Financial Company-Micro Finance Institutions’ (NBFC-MFIs) – Provisioning Norms- Extension of time

RBI/2011-12/463 DNBS.PD/ CC.No.263 / 03.10.038 /2011-12 March 20, 2012 All NBFCs (excluding RNBCs) Dear Sir, 'Non Banking Financial Company-Micro Finance Institutions' (NBFC-MFIs) - Provisioning Norms- Extension of time A new category of NBFCs namely 'Non Banking Financial Company-Micro Finance Institutions' (NBFC-MFIs) was introduced videDNBS.CC.PD.No.250/03.10.01/2011-12 dated December 02, 2011, which also contained guidelines on asset classification… Read More

Special Clearing on March 31, 2012

RBI/2011-12/462 DPSS.CO.CHD.No./1732/03.01.03/2011-2012 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / UCBs / State Co-operative Banks / District Central Co-operative Banks Madam / Dear sir, Special Clearing on March 31, 2012 With a view to facilitating accounting of all the Government transactions of the current financial year (2011-12)… Read More

Insurance companies are mandated to take prior approval from the IRDA before launching of the product

The insurance companies are mandated to take prior approval from the Insurance Regulatory and Development Authority (IRDA) of the product before launching. As per File and Use Guidelines, the insurance companies are required to launch products after allowing for 60 days for non-life and 30 days for life for clearance by the IRDA. Several times,… Read More

Bilateral Trade between India & Zimbabwe shows an impressive growth from US $ 64.02 mn in 2006-07 to US $ 125 mn in the year 2010-11

The Union Minister of Commerce Industry and Textiles Shri Anand Sharma called on the Vice-President of Zimbabwe Mrs. Joice Mujuru, here today. Both the leaders expressed happiness at reaching Bilateral Trade of US $ 125 mn in Financial Year 2010-11, with India™s exports to Zimbabwe amounting to US $ 114 mn and imports from Zimbabwe… Read More

Union Minister for Commerce, Industry & Textiles invites Kenya to invest in the Textile sector via automatic route

Shri Anand Sharma, Union Minister for Commerce, Industry & Textiles met with the Trade Minister of Kenya Mr. Chirauli Mwakwere, here today. Shri Sharma during the meeting asked Kenya side about the investment opportunities in India and that equity participation up to 100% through automatic route is permitted in the textile sector. Minister also raised… Read More

CCI initiates to spread awareness about the Competition Law and the Commission

Under the competition advocacy initiatives, the Competition Commission of India has been organizing meetings, seminars, workshops etc. with the various stake holders to spread awareness about the Competition Law and the Commission. As part of this initiative CCI organized a workshop on the topic ˜Public Procurement & Competition Law™ at SCOPE Convention Centre, Lodhi Road,… Read More

Department of Commerce prepares to double India™s merchandise exports over the period 2011-12 to 2013-14

The Department of Commerce has prepared a Strategy Paper for doubling India™s merchandise exports over the period 2011-12 to 2013-14 from US $ 246 billion in 2010-11 to US $ 500 billion in 2013-14. The paper is available on the Department™s website (www.commerce.nic.in). An aggressive product promotion strategy for high value items that have a… Read More

Agreement on Trade in Services to benefit India soon

India has signed an Agreement on Trade in Goods with ASEAN on 13th August, 2009. Negotiations concerning Agreement on Trade in Services are at the stage of exchange of offers and both India and ASEAN have last exchanged revised offers on 18th November, 2011. Negotiations on the services that are likely to be considered for… Read More