Consolidated FDI Policy w.e.f. October 1, 2011
The consolidated FDI policy document is a single reference point for investors and regulators. The first such consolidation was released in March, 2010 after which it has been updated every six months. This˜Circular 2 of 2011™-is the fourth edition of the consolidated policy document. 2. The significant changes introduced in this edition of the Circular are: (i) Exemption… Read More
Alavi Co-operative Bank, Vadodara penalised for violation of AML and KYC norms
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on Alavi Co-operative Bank Ltd., Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for non-adherence to Know… Read More
MCA releases the validation tool for validating XBRL instant docs
MCA XBRL Validation Tool for validating XBRL instance documents has been released. The same can be downloaded by stakeholders for validating the instance documents prepared by them. The stakeholders should also refer to the XBRL filing manual for creation and validation of the instance documents. Stakeholders may send concerns, if any, with respect to the… Read More
CAG has been appointed the external auditor for 2 UN organisations- WIPO & IAEA
The Comptroller and Auditor General of India (CAG) has been appointed as the external auditor of two major UN organizations - the International Atomic Energy Agency (IAEA), Vienna and World Intellectual Property Organization (WIPO), Geneva. Both these organizations have traditionally been the stronghold of the developed world and it is for the first time that… Read More
NBMSME focuses on National Manufacturing Competitiveness Programme
The 9th Meeting of the National Board for Micro, Small and Medium Enterprises (NBMSME) was held here today under the Chairmanship of Shri Virbhadra Singh, Minister, of Micro, Small and Medium Enterprises. The meeting discussed various aspects of the Micro, Small and Medium Enterprises (MSME) Sector with special focus on National Manufacturing Competitiveness Programme (NMCP).… Read More
Revisions in FII Investments in corporate debt long term Infra category
To All Foreign Institutional Investors through their designated Custodians of Securities Dear Sir/Madam Sub Revisions in FII Investments in corporate debt long term infra category 1. Please refer to SEBI circular IMD/FII&C/5/2011 dated March 31, 2011 wherein the enhanced debt investment limits for FII investment in corporate debt long term infra category, and the modalities for allocation… Read More
SEBI-Clarification on 100% promoter holding in demat form
To, All the Recognized Stock Exchanges, Dear Sir/Madam, Sub: Clarification on 100% promoter holding in demat form 1. This is further to SEBI circular SEBI/Cir/ISD/3 /2011 dated June 17, 2011 regarding 100% promoter holding in demat form. 2. On review of the promoters hooding in demat form it has been observed that there has been… Read More
XBRL update – MCA validation tool to be released soon
The XBRL Taxonomy recently released by MCA for the First Phase of Financials for FY ended 31st March, 2011 is final and no further changes are expected for Phase I. The MCA Validation Tool for validating XBRL instance documents as per the final taxonomy is ready to be released. If you wish to test and… Read More
Multinational accounting companies violating the CA Act – ICAI
Apex chartered accountants body ICAI has accused multinational accounting companies of violating the CA Act and asked for joint action by agencies, including the RBI and the Corporate Affairs Ministry, to enforce compliance. "The (ICAI) Council shall request the Ministry of Corporate Affairs, Reserve Bank of India and other relevant Ministries/Departments of Government of India… Read More
MCA – Registration of Certified Filing Centres (CFC)
Registration of Certified Filing Centres (CFC) Requests including from Professional Institutes have been received seeking re-opening the registration process of CFCs and allow enrolment of more CFCs so that the involvement of professionals in XBRL and peak filing can be expanded to a large extent. The Ministry has considered the requests and decided to… Read More
Procedure for electronic filing of Central Excise and Service Tax returns and for electronic payment of excise duty and service tax.
F.No. 201/10/2011-CX 6 Government of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) New Delhi To All Chief Commissioners of Customs &Central Excise, All Chief Commissioners of Central Excise, All Chief Commissioners of Large Taxpayers Unit. Sub.: Procedure for electronic filing of Central Excise and Service Tax returns and for… Read More
SEBI – Standardization of Contents of Application-Cum-Bidding Form and Manner of disclosure
To All Registered Merchant Bankers To All Stock Exchanges To All Registered Bankers to an Issue To All Registered Registrars to an Issue Dear Sirs, Sub.: Contents of Application-Cum-Bidding Form and Manner of disclosure 1. SEBI has reviewed the structure, design, format, contents and order of information of Application-Cum-Bidding-Form to make it investor friendly and… Read More
No limits on FDI’s in Construction Industry for Educational Institution, Old age homes- soon to be announced
The Union Minister of Commerce, Industry and Textiles, Shri Anand Sharma has announced that the Government has decided to remove limitations of compulsory lock-in-period, minimum build up area for FDI in the construction industry for old age homes and all educational institutions with immediate effect. There is a huge deficit of educational infrastructure in the… Read More
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