Corporate Law Reporter - The Daily Journal

Constitution of Dispute Resolution Panel (DRP) – Income Tax

ORDER NO. 1/FT&TR/2012 [F.NO. 500/15/2011-FT&TR-I], dated 31-1-2012 Section 144C of the Income-tax Act, 1961 - Dispute Resolution Panel (DRP) - Reference to - Constitution of DRP at specified places In exercise of powers conferred under section 144C of the Income-tax Act, 1961, and in supersession of earlier orders, the Board hereby constitutes the Dispute… Read More

Bank rate increased from 6% p.a. to 9.50% p.a. to align it with the MSF rate

RBI/2011-2012/396 Ref.No.MPD.BC.352/05.03.004/2011-12; February 13, 2012 All Scheduled Commercial Banks Bank Rate Section 49 of the Reserve Bank of India Act, 1934 requires the Reserve Bank to make public (from time to time) the standard rate at which it is prepared to buy or re-discount bills of exchange or other commercial paper eligible for purchase under… Read More

Amendment to SEBI (Portfolio Managers) Regulations, 1993

THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, February 10, 2012 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 10th February, 2012 SECURITIES AND EXCHANGE BOARD OF INDIA (PORTFOLIO MANAGERS) (AMENDMENT) REGULATIONS, 2012 No. LAD-NRO/GN/2011-12/37/3689 - In exercise of the powers conferred by section 30 of the Securities and Exchange… Read More

SPMCIL – Celebrates its Foundation Day

Shri R. Gopalan, Secretary, Department of Economic Affairs, Ministry of Finance said that the Government of India has initiated steps to indigenize the production of bank note paper to meet our domestic requirements. He said that the Government has taken these steps on the recommendations of a Committee under Shri Shilabhadra Banerjee. Shri Gopalan was… Read More

The 44th Session of Indian Labour Conference starts today

The Ministry of Labour & Employment has a unique mechanism of tripartite consultation amongst social partners Workers, Employers and Government, at various levels sectoral as well as national on issues relating to labour. The Indian Labour Conference the apex tripartite consultative body at national level has been aptly described as the Labour Parliament of India,… Read More

ICAI- President and Vice- President elected for 2012-13

Shri Jaydeep Narendra Shah is the newly elected President of the Institute of Chartered Accountants of India. He was a Central Council Member and was re-elected to the Central Council of ICAI for the third term for the period from 2010 to 2013 after completion of 1st term from 2004-2007 and current 2nd term from… Read More

The Union Commerce, Industry and Textiles Minister to visit Pakistan from 13th to 16th Feb

The Union Commerce, Industry and Textiles Minister, Shri Anand Sharma will be undertaking a substantive bilateral visit to Pakistan from 13th to 16th February on an invitation from his counterpart Minister Makhdoom Fahim, who had visited New Delhi in September last year. This is the first substantive visit of an Indian Commerce Minister after India™s… Read More

GOI organises “India Show” to raise an awareness of Indian products in Pakistan

India Show being organized by Government of India from 11-13 February, 2012, showcases the best of the Indian industry, cuisine and culture. Over 400 exhibitors will be participating in this Show which is intended to increase future trade opportunities, B2B meetings and direct buyer-seller interaction. The objective of India Show Exhibition is to raise awareness… Read More

Procedure for Introduction of Share Capital Clause in the Memorandum of a Company Limited by Guarantee

PROCEDURE FOR INTRODUCTION OF A SHARE CAPITAL CLAUSE IN THE MEMORANDUM OF A COMPANY LIMITED BY GUARANTEE Ishita Chatterjee Lecturer, Faculty of Law, UniversityofAllahabad, Allahabad(U.P.),India Introduction For the formation of a company, the Memorandum of Association is regarded as a fundamental document of a company. In the view of Palmer[1]- It is a document of… Read More

MCA- Filing of conflicting returns by contesting parties

General Circular No. 1/2012 F. No. 17/135/2011-CL V; Government of India; Ministry of Corporate Affairs; Dated 10th February 2012 To, All Regional Directors, All Registrars of Companies Sub: Filing of conflicting returns by contesting parties clarification regarding Sir, I am directed to invite a reference to Ministry™s circular No. 19 and 20 of 2011 issued… Read More

Regarding explanation of ˜gross amount™ appearing in the Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007

Circular No. 150/1/2012-ST F.No.354/236/2010-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Tax Research Unit) New Delhi, 8th February, 2012 To Chief Commissioner of Customs and Central Excise (All) Chief Commissioner of Central Excise & Service Tax (All) Director General of Service Tax Director General of Central Excise Intelligence… Read More

Seeks to impose anti-dumping duty on import of Coumarin, originating in, or exported from, the People™s Republic of China

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 12/2012 Customs (ADD) New Delhi, dated the 8th February, 2012 G.S.R. (E). Whereas, in the matter of imports of Coumarin (hereinafter referred to as the subject goods), falling under Tariff Item 2932 21 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred… Read More

Guidelines in respect of the disclosures to be made in the Letter of offer in respect of Buy-back of securities in terms of SEBI (Buy-back of Securities) Regulations, 1998 and Format of Standard letter of offer.

CIRCULAR CIR/CFD/DCR/ 2 /2012 February 9, 2012 To All Merchant Bankers Dear Sir/Madam, Sub: Guidelines in respect of the disclosures to be made in the Letter of offer in respect of Buy-back of securities in terms of SEBI (Buy-back of Securities) Regulations, 1998 and Format of Standard letter of offer. 1. SEBI (Buyback of Securities) Regulations, 1998… Read More