Corporate Law Reporter - The Daily Journal

Increase in FII debt limit in Government & Corporate debt category

CIR/IMD/FIIC/ 20 /2011 To All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/Madam Sub Increase in FII debt limit in Government & Corporate debt category 1. Government vide press release dated November 18, 2011 has decided to: a. Increase the current limit of FII investment in Government Securities by US $ 5… Read More

Set-off of export receivables against import payables-Liberalization of Procedure

Attention of Authorized Dealer Category I (AD Category I) banks is invited to the fact that the requests received from the exporters through their AD branches for set-off of export receivables against import payables are considered by the Reserve Bank of India. As a measure of further liberalization, it has been decided to delegate power… Read More

Direct Access to Negotiated Dealing System-Order Matching (NDS-OM)

RBI/2011-12/265 IDMD.DOD.No.13 /10.25.66/2011-12 November 18, 2011 To All SGL/CSGL Account holders, Dear Sir/Madam, Direct Access to Negotiated Dealing System-Order Matching (NDS-OM) Please refer to our circular IDMD.DOD.No. 5893 /10.25.66/ 2007-08 dated May 27, 2008 on access to NDS-OM. 2. With a view to widening the secondary market in Government Securities to more number of participants, it has… Read More

Citibank fraud: I-T initiates re-assessment of investors

The I-T department's various tax assessment wings will undertake the process of re-checking of I-T returns and issuing subsequent notices after a high-level probe by its investigation wing found `capital gains' at the hands of some of the high-networth individuals New Delhi: In a double whammy for investors who lost their money in the Rs400… Read More

G Ramaswamy, President, ICAI elected as IFAC Board Member. – (17-11-2011)

G Ramaswamy, President, The Institute of Chartered Accountants of India (ICAI) has been elected as the Board Member of International Federation of Accountants (IFAC) at the November IFAC Council Meeting held at Berlin, Germany on 17th November 2011. IFAC is a global organization for the accountancy profession, dedicated in serving the public interest by strengthening… Read More

SEBI Plans Circuit Filter from Listing Day

The Securities and Exchange Board of India (SEBI) is considering imposing circuit filter on the day of listing to check excessive volatility. If circuit filter imposes on the listing day, price of the debutant share cannot go up or down beyond a level. For example, if the issue price of a share is Rs 100… Read More

SEBI Chairman Mr. U. K. Sinha™s statement on Insider Trading Surveillance System

Over the period of the last three years, Sebi has been able to strengthen the surveillance system tremendously. We have invested heavily on technology and systems. We have now moved to a higher area called data warehousing and business intelligence. So phase one of that has been implemented and next two phases are also in… Read More

Overseas forex trading through electronic / internet trading portals

RBI/2011-12/262 A.P. (DIR Series) Circular No. 46 To, All Authorised Dealer Category I Banks Madam/ Sir, Overseas forex trading through electronic / internet trading portals Attention of the Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 53 dated April 07, 2011 wherein AD Category I banks were… Read More

Repayment of Term/Fixed Deposits in banks

RBI/2011-12/261 UBD.BPD.(PCB)CIR No. 11/13.01.000/2011-12 The Chief Executive Officers All Primary (Urban) Co-operative Banks Dear Sir, Repayment of Term/Fixed Deposits in banks It has come to our notice that some banks insist on the signatures of both the depositors to allow repayment of money in fixed/term deposits, though the deposit account is opened with operating instructions… Read More

NEFT – Access Criteria for Regional Rural Banks (RRBs)

RBI/2011-12/263 DPSS (CO) EPPD No. /838/04.03.01/2011-12 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks / Regional Rural Banks Madam / Dear Sir, NEFT - Access Criteria for Regional Rural Banks (RRBs) Please refer to our circular DPSS.CO.OD. 494 / 04.04.009 / 2011-12 dated September 21, 2011 laying down the access criteria for… Read More

Set-off of export receivables against import payables- Liberalization of Procedure

RBI/2011-12/264 A.P. (DIR Series) Circular No. 47 To All Category I Authorized Dealer Banks Madam/Sir, Set-off of export receivables against import payables- Liberalization of Procedure Attention of Authorized Dealer Category I (AD Category I) banks is invited to the fact that the requests received from the exporters through their AD branches for set-off of export… Read More

Master Circular on Cost Accounting Records and Cost Audit

To, The President, Institute of Cost cqd Works Accountants of India, 12, Sudder Streei Kolkata - 700 01 6'. Subject: Master Circular on Cost Accounting Records and Cost Audit Sir, Ministry has from time-to-time issued number of circulars with regard to various matters concerning cost accounting records and cost audit in the corporate sector. All thesecirculars have been reviewed, in suppression of the earlier circulars as mentioned in Appendix,… Read More

Union Finance Minister Shri Pranab Mukherjee™s Address on the Conclusion of 150 Years Celebrations of the C&AG of India

Following is the text of the speech of Union Finance Minister Shri Pranab Mukherjee™s address delivered, here today on the occasion of conclusion of 150years Celebrations of the C&AG of India: I am happy to be here today as the Indian Audit & Accounts Department concludes its year-long celebrations to commemorate 150 years of valuable service by the institution of Comptroller and Auditor… Read More