"13 February 2009" Archive

Clarification on grant of SFIS benefits to Service providers under EPCG scheme for the period 1.4.2007-31.3.2008

Policy Circular No. 62 (RE-2008)/2004-2009 13/02/2009

It is clarified that “pending EO under EPCG Authorization (over and above average, if any)” means the duty saved export obligation which is pending over and above the minimum duty saved export obligation specified to be fulfilled in the prescribed block of years....

Public Notice No. 144 (RE-2008)/2004-2009, Dated: 13.02.2009

Public Notice No. 144 (RE-2008)/2004-2009 13/02/2009

The VKGUY benefits on exports of all items included in Table 15 shall be admissible only for ‘Handicraft Products’. The Export Promotion Council for Handicraft (EPCH) shall certify that the exported product is a Handicraft product, if any doubt arises on this issue....

Import of Construction Equipment under EPCG Scheme

Policy Circular No. 61 (RE-2008/2004-09) 13/02/2009

Payments for the services rendered through construction equipments are received in Free Foreign Exchange or in Indian Rupees which are otherwise considered as having being paid for in free foreign exchange by RBI, as per Sub Para (iv) of Para 9.53 of Foreign Trade Policy....

Prohibition on export of wheat and wheat products-exemption for export of wheat flour to Maldives

Notification No. 85 (RE-2008)/2004-2009 13/02/2009

In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes the following addition with immediate effect at the end of Paragraph 2 of Notifica...

SEBI : (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2009

Notification No. LAD/NRO/GN/2008-09/34/154082 13/02/2009

the provisions of this Chapter are likely to act as impediment to implementation of the plan of the target company and relaxation from one or more of such provisions is in public interest, the interest of investors and the securities market....

Guidelines for transfer of ownership or control of Indian companies in sectors with caps from resident Indian citizens to non-resident entities

Press Note No 3 (2009 Series) 13/02/2009

It is clarified that these guidelines will not apply for sectors/activities where there are no foreign investment caps, that is, 100% foreign investment is permitted under the automatic route....

Icai offered free consultancy service to the Orissa state government

A delegation of the Public Finance Committee of the Institute of Chartered Accountants of India (Icai) led by chairman, Mr Subodh Kumar Agrawal called on state finance minister Mr Prafulla Chandra Ghadei and offered free consultancy service to the state government. The consultancy service, free of cost, given to the Union government, stat...

Posted Under: DGFT |

Guidelines for calculation of total foreign investment i.e. direct and indirect foreign investment in Indian companies.

Press Note No 2 (2009 Series) 13/02/2009

Provided that, in case of a combination of all or any of the entities mentioned in Sub-Clauses (i) and (ii) of clause above, each of the parties shall have entered into a legally binding agreement to act as a single unit in managing the matters of the applicant company....

A Review of interim Railway Budget for 2009-10

Railway Minister Lalu Prasad presented the interim Railway Budget for 2009-10 in Parliament on Friday, saying the Railways have scaled new heights. Highlights of Lalu’s speech in Parliament: Reduction in passenger fares of ordinary passenger trains by Re 1 for fares costing up to Rs fifty per passenger for journey above ten kms. Far...

Posted Under: DGFT |

Guidelines for transfer of ownership or control of Indian companies in sectors with caps from resident Indian citizens to non-resident entities.

Press Note No. 3 (2009 Series) 13/02/2009

These guidelines will issue in modification of paragraph 2(e) of Press Note 4 of 2006 and will be effective from the date of issue of this Press Note. FDI policy announced vide Annex to Press Note 7(2008) dated 16th June 2008 stands amplified to the above extent....

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