"07 January 2010" Archive

Simplified Debt Listing Agreement for Debt Securities – Amendments

Circular No. SEBI/IMD/DOF-1/BOND/Cir-5/2009 07/01/2010

2. In continuation thereof, it has been decided to amend the Simplified Listing Agreement for Debt Securities as follows with immediate effect:(a) fter clause 5, the following proviso shall be inserted: Provided that this requirement shall not be applicable in case of unsecured debt instruments issued by regulated financial sector enti...

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Government mulling reduction in the number of personal income tax rates from the current three to two

In the run-up to Budget 2010-11, the Finance Ministry is mulling a reduction in the number of personal income tax rates from the current three to two. At present, there are three rates - 10, 20 and 30 per cent - and these are applied on slabs that are specified from year to year as part of the Budget....

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Posted Under: SEBI |

How real is the real estate for 2010?

After some time I learnt that he got in a position where he is in a position to bankrupt. On further query I came to know the whole story of his loud voice of animal growling. He was into real estate business and he took two projects where construction was going and had taken a loan from around Rs.5cr and all his money is invested in cons...

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Posted Under: SEBI |

Public Notice No. 29/2009-14, Dated: 07.01.2010

Public Notice No. 29/2009-14 07/01/2010

For the Advance Authorisation (erstwhile licences) where raw sugar has been imported between 21.09.04 and 15.4.08, but the export obligation is yet to be fulfilled, the export obligation period stands automatically extended upto 31.03.2011 without payment of composition fee. Advance licence / authorisation holder has the option to pay the...

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New Office address of Regional Authority of DGFT, Surat

Public Notice No. 28/2009-14 07/01/2010

In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign Trade hereby makes the following amendment in Appendix 1 (List of Regional Authorities and their Jurisdiction) of the Handbook of Procedure (Vol. I) 2009-2014: S. No. 19 of Appendix 1 is amended to read as under:...

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Distance of 2 kms from municipal limits of city for the purpose of section 2(14)(iii) has to be taken in terms of approach by road

CIT Vs Satinder Pal Singh (Punjab & Haryana High Court)

In respect of the question concerning distance of the agricultural land from the municipal limits of city of Khanna the Tribunal has decided the issue holding that distance of 2 kms.from the municipal limits of city of Khanna has to be reckoned for the purposes of Section 2(14)(iii)of the Act by measuring the same as per the road distance...

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Polls: Aggrieved ICAI members move court, seek stay following their disqualification as contestants

The election of the Pune branch of the Western India Regional Council (WIRC) of the Institute of Chartered Accountants of India (ICAI) has run into problems after some members filed a petition in the Shivajinagar civil court demanding a stay on it.The aggrieved members alleged that the governing body of the Pune chapter of WIRC has cancel...

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Posted Under: SEBI | ,

Supreme Court dismissed plea challenging takeover of Satyam by Mahindra group

The Supreme Court on Monday dismissed a petition challenging the Company Law Board's order facilitating takeover of the scam-tainted Satyam Computers by the Mahindra group and allowed the IT firm to go ahead with the process to rope in a strategic investor through a public auction. A Bench headed by Chief Justice K G Balakrishnan dismisse...

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Posted Under: SEBI |

Five sitting members of the apex council of ICAI defeated in election

Five sitting members of the apex council of the Institute of Chartered Accountants of India (Icai) have been defeated in elections held on 4-5 December to elect a new team in 2010. Among the losers is Shanti Lal Daga, who was vice-chairman of the fact-finding committee set up by Icai to investigate the role of auditors in the fraud at Sat...

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Posted Under: SEBI |

Raw deal for Chartered Accountants in Companies Bill 2009

One of the unkindest cuts is that the auditor of a company, necessarily a CA, shall not render such services as accounting and book-keeping, internal audit, design and implementation of any financial information system, actuarial, investment advisory, investment banking, rendering of outsourced financial services, and management services....

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Posted Under: SEBI |

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