ROC to issues all cetificates under Digital Signatures
Issue of Certificate by Digital Signature- MCA Gen. Circular No. 29/2011; Dated 20.05.2011 All the Regional Directors ;All the Registrar of Companies Sub: Green Initiative in the Corporate Governance Issue of Certificate by Digital Signature The Ministry of Corporate Affairs has taken a Green Initiative in the Corporate Governance by allowing paperless compliances by the… Read More
SEBI passed Consent order in a case against BP Equities alleged for Circular Trading
Market regulator SEBI today settled and passed a consent order in a case against B P Equities on payment of Rs 5 lakh for the company's alleged failure to exercise due diligence in conducting business as a broker. The case relates to allegations about B P Equities helping its clients to engage in circular trading.… Read More
2G case: Lawyer seeks to implead Anil Ambani, Ratan Tata, Niira Radia
A lawyer today approached a Delhi court seeking a direction to CBI to implead various other persons, including Reliance ADAG chairman Anil Ambani, Tata group chief Ratan Tata and corporate lobbyist Niira Radia, as accused in the 2G scam case. "As far as 2G scam is concerned, the key role is played by Niira Radia,… Read More
MCA allows holding Board Meetings / General Meetings through Video Conferencing
Clarification on Green initiative in the Corporate Governance Participation by Directors in meetings of Board / Committee of Directors under the Companies Act, 1956 through electronic mode Green initiative in the Corporate Governance, the much talked about topic these days, brings another set of relaxation to the Registrar of Companies, the Directors and lastly the… Read More
Investors to hold MF units in demat form
CIRCULAR- CIR/IMD/DF/9/2011; Dated May 19, 2011 CLR Note: To protect the interests of Investors in securities and to promote the development of and to regulate the securities market, this circular has been passed so that the investors can hold the securities in the demat form by providing an option to the investors to mention demat account details in… Read More
RBI : Increase in Housing Loan Limit under Priority Sector
RBI/2010-11/533 RPCD.CORRB.No.71 /03.05.33/2010-11 May 16, 2011 The Chairman All Regional Rural Banks (RRBs) Please refer to paragraph 7.1 of our circular RPCD.No.RRB.BC.20/03.05.33/2007-08 dated August 22, 2007 on lending to Priority Sector, wherein loans up to Rs.20 lakh irrespective of location, to individuals for purchase / construction of dwelling unit per family, excluding loans granted by… Read More
DEPB scheme to end by 30th June, 2011
Rejecting exporters' repeated pleas, the Finance Ministry today said the popular DEPB tax rebate scheme will come to an end from June 30, saving revenue for the government. "All exports will be zero-rated after Duty Entitlement Pass Book (DEPB) scheme ends. Two similar kind of schemes cannot go on. It will save some revenue for… Read More
Apple smartphone and Google’s Android to face tighter regulation in Europe
Smartphones of Apple and Google are likely to face tighter regulation in Europe after a data protection panel ruled that location information collected by the devices should be classified as personal data, says a media report. "Apple smartphones and those running on Google's Android system look set to come under tighter regulation in Europe, after… Read More
Central Excise and Service tax evasion of Rs. 5500 crore unearthed
Tax sleuths unearthed central excise and service tax evasion amounting to over Rs 5,500 crore in the 2010-11 financial year, even as pressure mounted on the government to crack down on black money. Unravelling the trail of the ill-gotten wealth, taxmen was able to recover Rs 431 crore in search-and-seizure operations during the same period,… Read More
RBI – Enhancement of Rates of Provisioning for Non-Performing Assets and Restructured Advances
RBI 2010-11/529; DBOD.No.BP.BC. 94/21.04.048/2011-12; May 18, 2011 The Chairman and Managing Directors / Chief Executive Officers; All Scheduled Commercial Banks (Excluding RRBs) Enhancement of Rates of Provisioning for Non-Performing Assets and Restructured Advances Please refer to paragraph 110 of the Monetary Policy Statement for the year 2011-12 (extract enclosed) wherein it was proposed to enhance… Read More
MCA clarification on Certification of E- forms under the Companies Act by the practicing professionals
Corrigendum to Circular no. 14/2011 dated 8th April,2011 GOI, Ministry of Corporate Affairs All Regional Directors; All Registrar of Companies Subject: Certification of E- forms under the Companies Act, 1956 by the practicing professionals The undersigned is to draw the attention on the Circular no. 14/2011 dated 8.4.2011 of this Ministry on this subject cited… Read More
RBI notifies Central Electronic Registry under SARFAESI to curb fraud
RBI/2010-11/530 RPCD.CO RRB.BC.No. 72/03.05.33/2010-11 May 19, 2011 CLR Note: The Government of India, Ministry of Finance notified to set up the Central Registry, to prevent frauds in loan cases involving multiple lending from different banks on the same immovable property. This Registry has become operational on March 31, 2011. The Central Registry of Securitisation Asset Reconstruction… Read More
RBI opens its 2nd sub-office in Agartala
The Reserve Bank of India (RBI) opened its sub-office at Agartala. Tripura will be the second state in the North-East region to have an RBI office. The new office was inaugurated by Shri Manik Sarkar, Hon™ble Chief Minister of Tripura. Dr. D. Subba Rao, Governor, Reserve Bank of India presided over the inaugural function. The… Read More
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