Facebook IPO coming soon with valuation over USD 100 billion
Facebook, a social networking site is likely to file an IPO by the first quarter of 2012, with a valuation of over USD 100 billion. Facebook is likely to go public by next spring, CNBC quoted people familiar with the matter as saying. "The company's IPO, were it to happen by next spring, would probably be… Read More
Companies (Amendment) Regulations, 2011
G.S.R. (E).- In exercise of the powers conferred by sub-sections (1),(2),(5) and (8) of Section 25 and Sub-section (2) of Section 609 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following Regulations further to amend the Companies Regulations, 1956, namely:- 1. (1) These Regulations may be called the Companies… Read More
THE COMPANIES BILL, 2009: An attempt to harmonise Company Law or the perpetrator of un-necessary confusion
Introduction Sixty one years ago the Bhabha Committee made recommendations for Independent India™s first Corporate Law. It was only then that the pre-independence Companies Act, 1913 was repealed and the Companies Act, 1956 was enacted. For close to 55 years, India Inc. has been regulated by this law and it has been for a while… Read More
New Rules Proposed: Companies (Dematerialization of Certificates) Rules, 2011
No 17/143/2011-CL.V, Dated: 06.06.2011 Ministry of Corporate Affairs Subject : Companies (Dematerialization of Certificates) Rules, 2011 Sir, The Ministry of Corporate Affairs is considering to issue Companies (Dematerialization of Certificates) Rules, 2011 so that all public Companies and their subsidiaries which have raised money by issue of shares, debentures, by accepting public deposits, stock, bond or any other financial instruments from public, other than… Read More
Govt ‘purposefully’ defaming Lokpal movement : Anna
Anti-corruption activist Anna Hazare today accused the office bearers of Congress and union ministers of intentionally "defaming" the Lokpal movement and emerging NGO sector in the country. "They (the government) making lot many allegations, including the so-called hidden support and political agenda designed by RSS and BJP, is a sheer humiliation of sentiments of the… Read More
Maruti strike enters 10th day – No production at Plant
The country's largest car-maker Maruti Suzuki India's Manesar facility continues to be completely shut down, with a workers' strike at the plant entering its 10th day today. "The talks are going on, but the strike is still continuing. The production at the plant is stopped," a company spokesperson told PTI. In the morning, shares of… Read More
Transactions by cheques up marginally in April: RBI
Cheque transactions worth over Rs 8.66 lakh crore were carried out in the country during April, 2011, a growth of over 0.7 per cent from the same month last year. Banks had cleared cheques worth almost Rs 8.60 lakh crore in April 2010, as per the latest data from the Reserve Bank. However, the total… Read More
Govt. extends DEPB scheme for 3 months till September, 2011
The government today said it has extended the popular exports scheme - DEPB - for three more months till September. The DEPB scheme was due to end on June 30. "...we have extended Duty Entitlement Pass Book (DEPB) till September," Finance Secretary Sunil Mitra told reporters at the sidelines of a seminar organised by Ministry… Read More
Labour Minister’s speech at ILO Conference on “A New Era of Social Justice”
Following is the text of the Speech of Union Minister for Labour & Employment Shri Mallikarjun Kharge at the International Labour Conference 100th Session, 2011 in Geneva today on Report of the Director General- A New Era of Social Justice: Mr. Chairperson, We welcome the Director Generals™ Report on a ˜New Era of Social Justice™… Read More
Equality at WORK: the Continuing Challenge
P. C. Chaturvedi Secretary of Labour & Employment Addresses the 100th Session of International Labour Conference on Report of ILO Director General-Equality at WORK: the Continuing Challenge Millions of people suffer from discrimination in the world of work which not only violates a basic human right but has wider social and economic consequences. Discrimination stifles… Read More
FM calls for strong measures to reverse the ongoing trend of illicit outflows
Union Finance Minister Calls for Strong Measures to Reverse the Ongoing Trend of Illicit Outflows from Developing Countries and Exploitation of their Natural Resources Through Abusive Transfer Pricing Schemes; Inaugurates two Day High Level International Seminar on Adopting Tax System and International Tax Rules to the New Global Environment: a Shared Challenge for India and… Read More
Commerce Minister pushes for Lowering Tariff of Sensitive items in SAFTA
The Minister of Commerce & Industry, Government of India Mr. Anand Sharma urged the member states of SAARC to bring down all the protectionist trade barriers to achieve regional economies of scale at a much greater pace. While emphasizing that the serious attempts being made to reduce the sensitive list under the trade liberalization program… Read More
Tata pitches for cutting tariff on vehicles and components from overseas
At a time when the Indian automobile industry is strongly opposing lowering of import duty in the proposed India-EU FTA, Tata group chief Ratan Tata has favoured cutting tariff on vehicles and components coming from overseas. Tata said such high import duties are unrealistic and create an artificial barrier of protection for local companies. He… Read More
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