Order of the Company Law Board under Section 141 of the Companies Act, 1956 regarding extension of time for filing documents by companies and levy of additional fee.
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-2009, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures.
It is further clarified that in SIONs where import of relevant fabric is permitted in terms of square meters per unit of an export product, the import of relevant fabric be limited to (10% + Actual utilization in Square Meters) or quantity permitted in SION, whichever is lower.
In a setback to the once popular vyaj badla transactions, the Bombay high court recently held that an aggrieved party cannot take their disputes to the arbitration tribunal set up under the byelaws of the Bombay Stock Exchange. Dismissing a petition filed by a Mahim-based partnership firm against a city broker, a division bench of Justice R M S Khandeparkar and Justice D G Karnik held that the tribunal had no jurisdiction to hear cases arising out of such private transactions.
