Prudential Norms for Off-balance Sheet Exposures of Banks
RBI/2011-12/ 151; August 11, 2011 The Chairman and Managing Directors/ Chief Executive Officers of All Scheduled Commercial Banks (excluding RRBs and LABs) & All India Term-Lending & Refinancing Institutions In terms of our circular DBOD.No.BP.BC.57/ 21.4.157/2008-09 dated October 13, 2008, the overdue receivables representing positive mark to market value of a derivative contract would be treated… Read More
Free Transferability of shares
Free Transferability of shares of a Public[Listed] Co under Sec:111-A has gained momentum in recent years. Vested interests are in favour of availing Right of First Refusal (ROFRs) keeping aside the validity of Sec: 111-A. Definition of Sec: 111-A is, again, defined in different meanings. Legal Experts have drawn it to favour their corporate clients whereas the Hon'ble Justice Dr.D.Y.Chandrachud in… Read More
Master Circular – Use of Hindi in banks
RBI/2011-12/150 DBOD No. Rajbhasha BC. 21 /06.11.04/2011-12 Chairman & Managing Director All Public Sector Banks Dear Sir, Master Circular - Use of Hindi in banks Please refer to the Master Circular DBOD No. Rajbhasha.BC. 22/ 06.11.04/ 2010-11 dated July 1, 2010 on the captioned subject. The Master Circular has been suitably updated by incorporating instructions issued up to June… Read More
RBI Central Board meet today at Mumbai; Governor meets State Government and Bankers
The Central Board of Directors of the Reserve Bank of India met today at Mumbai. Dr. D. Subbarao, Governor, Reserve Bank of India chaired the meeting. Shri Y. H. Malegam, Prof U. R. Rao, Shri Lakshmi Chand, Shri H. P. Ranina, Shri Suresh Neotia, Dr. A. Vaidyanathan, Prof. M. M. Sharma and Shri Sanjay Labroo… Read More
CBEC seeks to impose provisional anti-dumping duty on Opal Glassware, originating in, or exported from, People™s Republic of China and UAE.
[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. 72/2011-Customs New Delhi, 9th August, 2011 G.S.R. (E). - Whereas in the matter of imports of Opal Glassware (hereinafter referred to as the subject goods), falling under heading 7013 of… Read More
Corrigendum to Company Law Settlement Scheme, 2011
General Circular No. 60/2011; GOI; MCA; Dated the 10th Aug, 2011 All Regional Director; All Registrars of Companies Subject: Corrigendum to Company Law Settlement Scheme, 2011 In continuation of the Ministry™s General Circular No. 59/2011 dated 5.8.2011 on the subject cited above, it is stated that the said scheme shall be applicable to Form 52… Read More
CSR budget is likely to be created by Companies
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises have issued comprehensive guidelines on Corporate Social Responsibility (CSR) for Central Public Sector Enterprises (CPSEs) in April 2010. In these guidelines, CPSEs have to… Read More
Sr. Advocates not eligible to charge high fees: Bombay High Court Petition
Legal crusader, Shri. M. P. Vashi, has filed a Writ Petition in the Bombay High Court being W. P. No. 632 of 2011 claiming that the provisions of the Advocates Act which permit advocates to be termed as senior advocates is unconstitutional on the ground that while its purpose was to encourage advocates with special knowledge… Read More
Off-shore supplies not taxable despite composite contract & PE™s role in clearance
LS Cable Limited vs. DIT (AAR) Brief facts: The assessee, a Korean company, entered into three contracts with Delhi Transco Ltd for (i) offshore supply contract on CIF basis, (ii) onshore supply contract and (iii) onshore service contract. The applicant claimed that the income arising from the offshore supply contract was not taxable in India. The… Read More
RBI releases Its Monthly RBI Bulletin for August 2011
The Reserve Bank of India today released the August issue of its Monthly RBI Bulletin. The August Bulletin carries four special articles: Developments in India's Balance of Payments during Fourth Quarter (January-March) of 2010-11 India's External Debt as at end-March 2011 Inflation Expectations Survey of Households: June 2011 (Round 24) Quarterly Industrial Outlook Survey: April-June 2011… Read More
ICSI POWER BREAKFAST on ˜CORPORATE GOVERNANCE &INTEGRITY™
August 10, 2011 PRESS RELEASE ICSI POWER BREAKFAST on ˜CORPORATE GOVERNANCE &INTEGRITY™ ˜Integrity is the foundation on which… Read More
RBI Releases Draft Guidelines on Internal Risk Based (IRB) Approach for Calculating Credit Risk Capital Charge
The Reserve Bank of India today released on its website, draft guidelines on Internal Rating Based (IRB) Approach for calculating credit risk capital charge. Comments/feedback on the draft guidelines may please be emailed before September 9, 2011 or mailed to the Chief General Manager-in-Charge, Department of Banking Operations and Development, Reserve Bank of India, Central Office Building, 12th Floor,… Read More
Revised Form 23AC and 23ACA expected by 12th August 2011
Ministry of Corporate Affair has decided to shortly make available the revised forms for the filing of financial statement. Revised Form 23AC and Form 23ACA will be available on the MCA Portal, effective 12th August, 2011. All Stakeholders are requested to use new version w.e.f. 12th August, 2011 (6.00 AM) as the current version of… Read More
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