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The matter whether Directors appointed under Section 16(4) of the Sick Industrial Companies (Special Provisions) Act, 1985 by the Board for Industrial and Financial Reconstruction (Board) shall be liable to be disqualified under section 274(1)(g) of the Companies Act, 1956 has been examined in this Department in detail.
The Exim Policy (as amended upto 31.03.2001) has permitted imports of free of cost material under the Advance Licence Scheme as envisaged in para 7.4 A of the Handbook of Procedures (Vol 1). However certain doubts were raised regarding computation of value addition in case of free of cost material. The matter was deliberated upon in the Policy Review Committee and it has been decided that for arriving at the value addition.
In pursuance of sub-rule (2) of rule 49 and rule 139 of the Central Excise Rules, 1944, the Central Government hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue and Insurance), No. 266/67-Central Excise, dated the 28th November, 1967
In exercise of the powers conferred by section 58A read with section 642 of the Companies Act, 1956 ( 1 of 1956), the Central Government, in consultation with the Reserve Bank of India, hereby makes the following rules further to amend the Companies ( Acceptance of Deposits ) Rules, 1975, namely
