14 Bills introduced during the Monsoon Session
The Monsoon Session, 2011 of Parliament which commenced on Monday, the 1st of August, 2011, concluded on Thursday, the 8th of September, 2011. The Session provided 26 sittings spread over a period of 39 days. During the Session, Supplementary Demands for Grants (General) for 2011-12 and the related Appropriation Bill, was discussed and passed by the Lok Sabha.… Read More
Cases of Appointment of MD and Directors
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that it is not a fact that large number of cases under Companies Act, 1956 regarding appointment / re-appointment schedule of Managing Directors or whole time Director / Managers are pending for a long time. Replying to… Read More
Investigation of Polyester Companies by CCI
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that an information alleging cartelization by Synthetic Fiber Manufacturer Companies has been received by the Competition Commission of India (CCI). The Commission has directed Director General, CCI to conduct investigation in the said matter. Replying to a… Read More
FEMA violations in case of Reliance Communication
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that complaints were received against M/s. Reliance Communication Limited. The following were the allegations: (i)Reliance Communication Limited had circumvented the provisions of FEMA Regulations by de-subsidiarising Gateway Net Trading Pte Limited as on 31/3/2008 by reduction of… Read More
Societies Registration Act getting ready for a makeover
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that An Expert Group under the Chairmanship of Shri.K.N.Chaturvedi has been constituted to study the legislative and regulatory architecture of the Society Registration Act, 1860. The report has not yet been received. The minister was replying to… Read More
1.6 lacs Companies defunct as per MCA
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that the total number of defunct companies, (those that have not filed their Annual Returns and Balance Sheets for the last three consecutive years or more) as per MCA records is 1,62,144. Total number of defunct private… Read More
Non Repayment of Deposits by Companies
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that 41 complaints alleging non-repayment of deposits were received during the last three years. Prosecutions were filed against M/s. Morepen Laboratories Limited, M/s. Euro Cotspin Limited, M/s. Asian Alloys Limited and M/s. Unique Entrade Private Limited. Names… Read More
Exemption of custom duty on specified goods granted by CBEC
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 85/2011-Customs New Delhi dated the 6th September, 2011 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962),… Read More
Reserve Bank Cancels the license of Tandur Mahila Co-operative Bank Ltd. Tandur
In view of the fact that the operations of the Tandur Mahila Co-operative Urban Bank Ltd., Tandur (Andhra Pradesh), were practically defunct with no scope for revival in the foreseeable future and all efforts to ensure regulatory compliance in consultations with the Government of Andhra Pradesh had failed and the depositors were being inconvenienced by… Read More
Substitution of term Micro, Small & Medium Enterprises in place of SSI
RBI/2011-12/167 RPCD.CO RRB. BC.NO.18 /03.05.33/2011-12 The Chairmen All Regional Rural Banks (RRBs) Dear Sir, Substitution of term Micro and Small Enterprises in place of SSI in the documents Copies of the notification No.S.O.1642 (E) dated September 29, 2006 issued by the Ministry of Small Scale Industries andS.O.563 (E) dated February 27, 2009 issued by Ministry of Commerce and… Read More
CBEC imposed anti-dumping duty on import of Cold-Rolled Flat products of Stainless Steel
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) New Delhi, the 6th September, 2011 Notification No.86/2011-Customs G.S.R. (E).- Whereas, in the matter of import of Cold-Rolled Flat products of Stainless Steel of the width of 600 mm up to 1250 mm of all… Read More
Unskilled Workers under the Ambit of PF and ESI
The Minister of Labour and Employment Shri Mallikarjun Kharge informed while replying to a question in the Rajya Sabha that: As per section 7 of the Industrial Disputes Act, 1947, ˜the appropriate Government may, by notification in the Official Gazette, constitute one or more Labour Courts for the adjudication of industrial disputes and for performing… Read More
External Commercial Borrowings Simplification of Procedure
RBI/2011 -12/169 A. P. (DIR Series) Circular No. 11 September 07, 2011 To All Category - I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings Simplification of Procedure Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or lending in foreign exchange) Regulations, 2000, notified vide Notification… Read More
Subscribe to the Daily Journal
Corporate Law Referencer
India’s Leading Compliance Software
