grant immunity subject to the provisions contained in the Scheme from instituting and proceeding for prosecution for any offence under the Act, or from the imposition of penalty under the Act for the time being in force in respect of matters covered in the aforesaid declaration made by the declarant.
The applicant may apply for EPCG license wherein duty saved amount is upto Rs. 50 crores to the Regional Licensing Authority (RLA) on the basis of self-declaration subject to final fixation of nexus by the RLA. The applicant shall give an undertaking that in case the RLA subsequently disallows the Capital Goods including jigs, fixtures, dies, moulds and spares, the license holder shall pay customs duty as applicable together with 15% interest on such goods.
The words “National Stock Exchange of India Ltd.”, “NSE” and other references, such as, web-site, etc., need to be suitably replaced by the respective stock exchanges while preparing their own risk disclosure document.
This circular is being issued in exercise of powers conferred by section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with section 10 of the Securities Contracts (Regulation) Act 1956
Companies have been issuing debt securities on private placement basis from time to time. In order to provide greater transparency to such issuances and to protect the interest of investors in such securities, it has been decided that any listed company making issue of debt securities on a private placement basis and listed on a stock exchange shall be required to comply with the following:-
offer interest on fixed and recurring deposits not exceeding the maximum rate of interest prescribed by the Reserve Bank of India that the Non Banking Financial Companies can pay on their public deposits;”
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,
This circular is being issued in exercise of powers conferred by section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
The matter has been deliberated upon and it is clarified that the second hand personal computers (PCs)/Laptops are covered under the definition of “second hand goods” and their import is governed by the provisions of Para 2.17 of EXIM Policy,2002-07 and not covered under the definition of “capital goods” as defined under Para 9.10 of EXIM Policy and Para 2.33 of Hand Book of Procedures (Vol.I). In view of this, second hand personal computers (PCs)/Laptops can also not to be permitted for import under EPCG scheme under the provisions of para 5.1 of the Exim Policy, even for service providers.
Commissioner of Customs (EP), Mumbai has brought to Board’s notice the Tribunal’s judgment in the case of M/s. Akai Impex Ltd. vs Commissioner of Customs, Mumbai [reported in 2003 (156) ELT 700 (Tri-Mumbai)]. In the said case, goods imported under the DEEC Scheme and cleared against advance licenses, without payment of duty, in terms of the provisions of Notification 204/92-Cus were sold by the importer without utilising the imported material in export production, as required in terms of the Notification conditions.
