Subsequently, in the meeting of the heads of Stock Exchanges held in December 17, 1997, it was clarified that the 25% is only a threshold limit and it should not be treated as an exemption limit. This was conveyed vide SMD/POLICY/Cir-2/98 dated January 14, 1998. In this connection, the Stock Exchanges have submitted to SEBI to reconsider the above decision on treatment of 25% threshold limit.
Please refer to the circular no. SMD/POLICY/CIR-8/97 dated April 28, 1997 on the revised format for the Monthly Development Report (MDR). Enclosed please find the modified format for reporting details of completed settlements during the month, forming point no.1 of Section-I of the MDR.
The Exchanges, who are yet to incorporate the above provision in their bye-laws are therefore advised to take up the matter in their Governing Board meeting for consideration and make suitable amendment in the bye-laws without any further delay under advice to us.
The Government of India amended the import policy by allowing various items to be imported under Special Import Licence (SIL) through Notification No. 14(RE-98).
Under the Scheme, manufacturer exporters, merchant exporters tied to supporting manufacturer(s) and service providers are eligible to import capital goods. For Agricultural exports, import of irrigation equipments may be allowed provided ownership of these equipments rest with the EPCG licence holder, such equipments are not sold or leased and list of places where the equipments are to be located is made available to the jurisdictional Asst. Commissioner of Customs and Excise.
