Corporate Law Reporter - The Daily Journal

Settlement of OTC transactions in Certificates of Deposit (CDs) and Commercial Papers (CPs)

RBI/2011-12/427 IDMD.PCD. 20 /14.01.02/2011-12 To All RBI-regulated Entities Dear Sir/Madam Settlement of OTC transactions in Certificates of Deposit (CDs) and Commercial Papers (CPs) In terms of circular IDMD.DOD.11/11.08.36/2009-10 dated June 30, 2010, all RBI-regulated entities are mandated to report their OTC transactions in CDs and CPs on the FIMMDA reporting platform within 15 minutes of the… Read More

Grant of ˜Certificate of Registration™ For carrying on the business of Credit Information

RBI/2011-12/429 DBOD No. CID. BC. 84/20.16.042/2011-12 March 5, 2012 Chairmen / Managing Directors / CEOs All Scheduled Commercial Banks (excluding RRBs) & All India Financial Institutions Dear Sir, Grant of ˜Certificate of Registration™ For carrying on the business of Credit Information Credit Information Bureau (India) Limited We advise that, on March 5, 2012,… Read More

Section 10(46) of the Income-tax Act, 1961 – Exemptions – Statutory Body/Authority/Board/Commission – Notified body or authority – National Skill Development Corporation

Section 10(46) of the Income-tax Act, 1961 - Exemptions - Statutory Body/Authority/Board/Commission - Notified body or authority - National Skill Development Corporation Notification no. 11/2012 [F.NO.142/15/2011-SO (TPL)]/s.o. 343(E), DATED 28-2-2012 In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies… Read More

Section 10(46) of the Income-tax Act, 1961 – Exemptions – Statutory Body/Authority/Board/Commission – Notified body or authority – Competition Commission of India

Section 10(46) of the Income-tax Act, 1961 - Exemptions - Statutory Body/Authority/Board/Commission - Notified body or authority - Competition Commission of India Notification no. 12/2012 [F.NO.142/15/2011-SO (TPL)]/S.O. 344(E), DATED 28-2-2012 In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies… Read More

DGFT- Prohibition on export of cotton(Tariff Codes 5201 and 5203)

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 Notification No. 102 (RE-2010)/2009-14; Dated 5th March, 2012 Subject:- Prohibition on export of cotton(Tariff Codes 5201 and 5203) S.O. (E) In exercise of the powers conferred by Section 5 of… Read More

ICWAI- Comments required on the Exposure Draft of Guidance Note on Maintenance of Cost Accounting Records

The Technical Cell of National Task Force constituted by the Institute has approved the release of the Exposure Draft of Guidance Note on Maintenance of Cost Accounting Records. The proposed Guidance Note may be modified in light of comments/ suggestions received before being issued as Guidance Note in the final form. Please submit your views/… Read More

DGFT- Amendment in the subject of Notification No. 98 (RE-2010)/2009-14 dated 23.02.2012

(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 Notification No. 101 (RE-2010)/2009-2014; Dated : 2ndMarch, 2012 Subject:- Amendment in the subject of Notification No. 98 (RE-2010)/2009-14 dated 23.02.2012 S.O.(E) In exercise of the powers conferred by Section 5 of… Read More

MOU signed between Institute of Cost Accountants of India and FCI, opens the door for the intermediate students to undergo training with FCI

The Institute of Cost Accountants of India and Food Corporation of India (FCI) (Government of India Undertaking) have signed an MOU on 28th February'2012. As per this MOU the intermediate passed students of the Institute will be able to undergo Practical Training with FCI. The students of the Institute will get wider exposure to the… Read More

Union Cabinet Minister for Commerce and Industry Shri Anand Sharma met with the delegates of the United States & Japan on a trilateral dialogue

Shri Anand Sharma met with the delegates of the United States & Japan on a trilateral dialogue, here today. Addressing the delegated Shri Sharma said, It is indeed befitting that such a dialogue should take place given that the three countries are vibrant democracies and leading economies in the Asia- Pacific region. The changing contours… Read More

SEBI-Guidelines for Credit Rating Agencies

CIR/MIRSD/3/2012 March 01, 2012 To All Credit Rating Agencies Registered with SEBI Dear Sir/Madam, Guidelines for Credit Rating Agencies 1. According to SEBI (Credit Rating Agencies) Regulations, 1996 (the Regulations), a credit rating agency (CRA) has been defined as a body corporate which is engaged in the business of rating of securities offered by way of public or rights… Read More

Financial Inclusion by Extension of Banking Services – Use of Business Correspondents (BCs)

RBI/2011-12/425 DBOD.No.BL.BC. 82/22.01.009/2011-12 All Scheduled Commercial Banks (Including RRBs) & Local Area Banks Dear Sir, Financial Inclusion by Extension of Banking Services - Use of Business Correspondents (BCs) Please refer to paragraph 3 on 'BC Model' of our circular DBOD.No.BL.BC.43/ 22.01.009/2010-11 dated September 28, 2010 on the above subject wherein it is stated that while a BC… Read More

RBI-Monitoring of frauds

RBI/2011-12/424 DNBS.PD.CC. No. 256 /03.10.042 / 2011-12 All Non-Deposit taking NBFCs with asset size of Rs.100 crore and above and Deposit taking NBFCs Dear Sirs, Monitoring of frauds A reference is invited to DNBS(PD)CC.No.59/03.10.42/2005-06 dated October 26, 2005 which contained guidelines on classification of frauds, approach towards monitoring of and reporting system for frauds for deposit taking… Read More

Registration of Companies or LLPs with the object to carry on the profession of CA, Cost Accountant, CS shall be initiated on production of NOC etc. from concerned dept.

General Circular No. 2/2012; F. No. 17/165/2011-CL V Government of India; Ministry of Corporate Affairs; Dated the 1st March, 2012 To, All Regional Director, All Registrars of Companies, Registrar of LLPs Subject: Registration of Companies or LLPs which have one of their objects is to carry on the profession of Chartered Accountant, Cost Accountant, Architect, Company Secretary… Read More