"03 December 2009" Archive

SEBI circular on dealings between a client and a stock broker (trading members included)

Circular No. MIRSD/ SE /Cir-19/2009 (03/12/2009)

This is in continuation of circulars (a) No. SMD/SED/CIR/93/23321 dated November 18, 1993 specifying the norms for regulation of transactions between clients and brokers, (b) No. SEBI/MIRSD/DPS-1/Cir-31/2004 dated August 26, 2004 specifying the model format for the Member Clients Agreements, and (c) No. MRD/DoP/SE/Cir-20/2005 dated Septem...

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Circular Amending Notification No. 20/2006-Customs Duty, dated 1st March, 2006

Notification No. 130/2009-Customs (03/12/2009)

Notification No. 130/2009-Customs Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 20/2006-Customs, dated the 1st March, 2006 which was published i...

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Circular No. 824/1/2006-CX-Clarification regarding prospective implementation of orders

Circular No. 906/26/2009-CX (03/12/2009)

Attention is invited to Board's Circular No. 824 /1 /2006-CX dated 16 th January, 2006 on the aforesaid subject. It has been reported that some of the Commissionerates have taken a view that once an order has been passed on issues like classification/valuation etc., in that case, all subsequent removals must follow the said order even tho...

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RBI circular on Credit Information Companies (Regulation) Act, 2005- Circular No. UBD.BPD (PCB).Cir No.25/09.11.200/2009-10 Dated – December 3, 2009

RBI/2009-10/246 UBD.BPD (PCB).Circular No.25/09.11.200/2009-10 (03/12/2009)

UBD.BPD (PCB).Cir No.25/09.11.200/2009-10 Dated - December 3, 2009 The Government had in exercise of powers conferred by Section 35 of the Act issued (Removal of Difficulties) Order, 2008 dated January 24, 2008 extending the last date for taking membership of at least one credit information company by credit institutions to December 31, 2...

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Marketing/Distribution of Mutual Fund/Insurance Products by Urban Cooperative Banks

RBI/2009-10/245 UBD.No.BPD.PCB.26/09.11.200/2009-10 (03/12/2009)

Please refer to our circulars UBD.No.BPD.PCB.Cir9/09.11.200/2003-04 dated August 18, 2003 and UBD.PCB. Cir.No.42/09.11.200/2006-07 dated May 7, 2007 permitting Urban Cooperative Banks (UCBs) to undertake insurance business as corporate agent and/or on referral basis without risk participation subject to fulfilment of certain conditions. ...

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Salman Khan acquitted of tax evasion charges made against him

According to Express India the Bombay High Court has dismissed a case which was filed by the Income Tax Department against the actor.The case accused Khan of declaring his income for the year 1999-2000 as Rs 2,95,09,771 when he had actually earned Rs 4,63,64,106. Investigators charged the actor in 2006 after re-assessing his accounts....

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Posted Under: SEBI |

Expenses incurred towards training cannot be termed as fee for technical services

Lloyds Register Industrial Services (India) Pvt. Ltd. Vs ACIT (ITAT Mumbai)

We have considered the rival submissions carefully in the light of the relevant material on record as well as the decision cited by the parties. After careful perusal of various authorities relied on either side would show that they are quite distinguishable because none of the case law deals with the training expenses. In these cases som...

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CBI recovered cash, FDRs and jewellery worth nearly Rs 1 crore from the residence of Vasudevan

During the last one week’s investigation into the bribery case against Company Law Board (CLB) member R Vasudevan, the Central Bureau of Investigation (CBI) has purportedly found that Vasudevan had made enough ill-gotten money. In fresh raids, the agency has recovered cash, FDRs and jewellery worth nearly Rs 1 crore from his residence....

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Posted Under: SEBI |

A study on Patent infringement Law in India

A Patent confers the exclusive right on the Patentee to make, distribute or sell the invention in India. This exclusive right is for 20 years. After 20 years, that invention becomes a public Domain. An infringement would be when any of three rights is violated. A Patentee may assign/ license all or some of these rights. The exercise of t...

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Posted Under: SEBI |

Corporate governance meaning and Principles

Corporate governance (CG) is one of the most talked about topics in business, indeed in society, today. Google search revealed 513 news citations during a single week in June 2006. Most academics, business professionals, and lay observers would agree that CG is defined as the general set of customs, regulations, habits, and laws that dete...

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Posted Under: SEBI |