Do expect a decent salary hike this Financial Yr (hopefully:)
Job market in India looks promising as companies have doled out salary hikes in the range of 10-13 per cent across industries this year and are now exploring innovative methods to successfully retain their workforce, says a survey. According to staffing firm Kelly Services' annual Employment Outlook and Salary Guide 2011-12, 2011 proved a breather… Read More
Revision in quantum of anti dumping duty on Pentaerythritol from China PR and Sweden
Notification No. 47 /2011 - Customs G.S.R.451 (E).- Whereas, the designated authority vide notification No.15/3/2010-DGAD, dated the 26th March, 2010, published in Part I, Section 1 of the Gazette of India, Extraordinary, dated the 26th March, 2010, had initiated review in the matter of continuation of final anti-dumping duty on Pentaerythritol (herein after referred to as… Read More
Tariff Value of Edible Oils, Brass Scrap and Poppy Seeds Notified
Notification No.38/2011-Customs (N.T.) Tariff Value of Edible Oils, Brass Scrap and Poppy Seeds Notified CBEC, Department of Revenue has issued a Notification No.38/2011-Customs (N.T.) and thereby notifying tariff values of edible oils, brass scrap (all grades) and Poppy seeds as follows: S. No. Chapter heading/ sub-heading/tariff item Description of goods Tariff value US $ (Per Metric Tonne)… Read More
Hike in Interest rates will destabilise economy : FICCI
On the eve of credit policy review by the Reserve Bank, industry body FICCI today warned that any further hike in interest rates would "destabilise" industrial growth and weaken the economy. In a letter to RBI Governor D Subbarao, Chairman of Ficci Finance Committee Udayan Bose has said that recent evidence of slowdown in cement… Read More
ADB aims at Better India- signs Loan Agreement to strengthen Bihar’s Power sector
The Government of India and Asian Development Bank (ADB) today signed a $132 million loan agreement for strengthening Bihar™s power sector. The signatories to the loan were Shri Venu Rajamony, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India, and Shri Prodyut Dutt, Officer-in-Charge, ADB's India… Read More
Strike continued on 12th day at Manesar Plant of Maruti Suzuki India
The country's largest car-maker Maruti Suzuki India today said production at its Manesar plant continues to be completely affected as the ongoing workers strike entered its 12th day. " There is no production going on," a company spokesperson said. The company saw production hit by 10,200 units till yesterday, which translates into a loss of… Read More
MCA to question 12 companies for providing false information on shareholding pattern
MCA will probe management and auditors of 12 listed companies, including Raj Television Network and Surya Lakshmi Cotton Mills, for allegedly providing false information about the shareholding pattern. "Ministry of Corporate Affairs (MCA) believes the 12 companies under scanner furnished false info regarding their share breakup to Regional Directors (RDs)," an official said. The ministry… Read More
India’s Import of sensitive items show a rapid increase by 9.3%
Items such as foodgrains, automobiles, milk and beverages fall in the sensitive category and the import of these are monitored by the government to see if there is any adverse impact on the domestic industry. During April- 2010 to February-11, India's import of sensitive items, including foodgrains and milk products, has gone up by 9.3 per… Read More
Income on sale of shares to be taxed under the head Capital Gain and fee paid to the Asset Management Company is allowed
M/s KRA Holding & Trading P. Ltd.vs. DCIT (ITAT Pune) & ARA Trading & Investments Pvt Ltd vs. DCIT Brief summary: there were 7 appeals, couple of issues are involved in all the grounds of the appeals involving both the assessee, (i) relating to whether the income earned on sale of shares is to be assessed… Read More
New rules are likely for simplifying the process of payment of holding tax
New rules would soon be framed for simplifying the process of payment of holding tax in urban areas in Bihar, Deputy Chief Minister S K Modi said . "The system of tax collection by urban bodies are not perfect which leads to non-payment of holding tax.New rules are being charted out for simplification of the process to… Read More
3rd Financial Stability Report June 2011 issued by RBI
Press Release : 2010-2011/ 1814 The Reserve Bank of India presented its assessment of the health of India™s financial sector in its Financial Stability Report (FSR), released here today. The report reflects the Reserve Bank™s continuing endeavour to communicate its assessment of the incipient risks to financial sector stability. The first FSR was released in March 2010… Read More
Processing of investor complaints against listed companies in SEBI Complaints Redress System (SCORES)
All recognized Stock Exchanges Dear Sir/Madam, Sub: Processing of investor complaints against listed companies in SEBIComplaints Redress System (SCORES) 1. SEBI has commenced processing of investor complaints in a centralized webbased complaints redress system ˜SCORES™. The salient features of thissystem are:¢ Centralised database of all complaints,¢ Online movement of complaints to the concerned listed companies,¢… Read More
Whether the unsecured loans advanced by the promoter group could be adjusted against allotment of shares ?
SRM Energy Limited, Mumbai vs (1) Securities and Exchange Board of India, Mumbai; (2) Arihant Capital Markets Limited, Mumbai Brief Facts:- The appellant was incorporated as a public limited company in the year 1985 under the name and style of Hitkari Fibers Limited. Its shares are listed on the Bombay Stock Exchange. Spice Energy Pvt. Ltd (for short SEPL)… Read More
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