Corporate Law Reporter - The Daily Journal

MCA: Companies (Accounting Standards) Amendment Rules, 2011

GOVERNMENT OF INDIA, MINISTRY OF CORPORATE AFFAIRS New Delhi, dated 11 May, 2011 G.S.R. (E).- In exercise of the powers conferred by clause (a) of sub-section (1) of Section 642 read with sub-section (1) of Section 21A and sub-section (3C) of Section 211 of the Companies Act, 1956 ( 1 of 1956), the Central Government… Read More

Murli Deora Stresses to expedite the Process of Liquidation Of Companies

Union Minister for Corporate Affairs Shri Murli Deora has desired that concerted action to be taken to expedite the process of liquidation of companies which is currently taking inordinately long. In the conference of Official Liquidators organised by the Ministry recently to discuss ways for expediting liquidation process the it was opined that one of… Read More

Google close to settling US investigation for accepting ads from online pharmacies

Google Inc is close to settling a US criminal investigation into allegations it made money by accepting ads from online pharmacies that break US laws, says a media report. Attributing to a source, The Wall Street Journal reported, "Google is close to settling a US criminal investigation into allegations it made hundreds of millions of… Read More

Haryana Gov urged IRS officers to curb pilferage of taxes

Haryana Governor Jagnnath Pahadia today urged the officers of Indian Revenue Service (IRS) to curb the menace of hoarding and pilferage of taxes, according to an official release. The Governor was speaking at a function to give away completion certificates of the On-the-Job-Training Course to the 64th Batch of Probationer Officers of Indian Revenue Service… Read More

Customs Tariff Notification : Palm Oil, Palmolien, Brass Scrap and Poppy seeds

[TO BE PUBLISHED IN PART-II, SECTION-3, SUB-SECTION (ii) OF THE GAZETTE OF INDIA, EXTRAORDINARY] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 34/2011 - Customs (N. T.) New Delhi, 13th May, 2011 23 Vaisakha, 1933 (SAKA) S. O¦ (E) In exercise of the powers conferred by sub-section… Read More

Prosecution provisions in Finance Act, 1994

F. No. 354/45/2011-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Tax Research Unit) ****** New Delhi dated the 12th May, 2011. To Chief Commissioners of Central Excise and Service Tax (All), Director General (Service Tax), Director General (Central Excise Intelligence), Director General (Audit), Commissioners of Service Tax (All),… Read More

India Signs DTAA with Republic of Colombia

India Signs DTAA with Republic of Colombia for Avoidance of Double Taxation and for Prevention of Fiscal Evasion with Respect to Taxes on income India today signed a Double Taxation Avoidance Agreement (DTAA) with the Republic of Colombia for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes… Read More

Quarterly Report on Debt Management for the Quarter Jan-March 2011 Released

Government has released the Quarterly Report on debt management pertaining to the quarter Jan-March 2011, here today. The Middle Office (MO), Department of Economic Affairs in the Ministry of Finance has been bringing out the Quarterly Report on debt management since September 2010. This Report for the quarter Jan-March 2011 is the fourth such report in… Read More

India ratifies UN Conventions against Transnational Organised Crime and Corruption

India has ratified the United Nations Convention against Transnational Organised Crime and its three protocols and the United Nations Convention against Corruption. The United Nations Convention against Transnational Organised Crime is the main international instrument in the fight against transnational organized crime. It recognizes the need to foster and enhance close international cooperation in order… Read More

Committee to Review Deemed Export Invites Suggestions from Stakeholders

The first meeting of the Committee to review the existing policy on Deemed Export was held this week. The meeting was attended by Dr. Alok Sheel, JS (MR) Department of Economic Affairs, Shri M.C. Singhi, Senior Economic Advisor, Department of Industrial Policy and Promotion, Dr. Arbind Prasad, Senior Advisor Planning Commission, Shri Chandan Sinha, Regional… Read More

Rules for Government Servants to disclose immovable properties

Central Civil Services (Conduct) Amendment Rules, 2011 have been amended to the effect that where a Government Servant enters into a transaction for immovable property either in his ow name or in the name of his family, he shall, within 1 month from the date of such transaction, report the same to the prescribed authority,… Read More

MCA issues Corrigendum to its circular on XBRL reporting

MCA issues corrigendum on filing of Balance Sheet and Profit & Loss Account in extensible Business Reporting Language (XBRL) mode The Ministry of Corporate Affairs has issued a corrigendum after noticing some errata on the circular issued on March 31st, 2011 regarding the filing of Balance Sheet and Profit & Loss Account in extensible Business… Read More

List of Terrorist Individuals /Organisations notified by RBI

RBI/2010-11/523 UBD.CO.BPD (PCB) Cir.No.48/14.01.062/2010-11 May 11, 2011 The Chief Executive Officer of All Primary (Urban) Co-operative Banks Dear Sir, List of Terrorist Individuals /Organisations under UNSCR 1267 (1999) and 1822 (2008) on Taliban/Al-Qaida Organisation Please refer to our circular UBD.CO. BPD (PCB).Cir.No.44/14.01.062/2010-11 dated May 2, 2011. We have since received from Government of India (Ministry of… Read More