"22 April 2010" Archive

SEBI circular on Reduction in time between issue closure and listing

Circular No. CIR/CFD/DIL/3/2010 22/04/2010

Presently, it takes on an average around 22 days to list the securities after an issue closes. This exposes investors as well as issuers to market risk as well as leading to infrastructural stress and costs. One of the reasons identified for this delay is data entry at multiple level and reconciliation thereof. Needless to say, any reduct...

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SCN issued beyond six month period from knowledge date is barred by limitation

Commissioner of Central Excise Surat- I Vs Neminath Fabrics Pvt. Ltd. (Gujarat High Court)

In the facts of the present case the record indicates that the Director of the respondent has admitted shortage of Grey fabrics as well as illicit clearance thereof without issuance of central excise invoices or any other duty paying documents, without payment of central excise duty and without entering in the Daily Stock Account Register...

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Notification No. 28/2010-Income Tax Dated 22/4/2010

Notification No. 28/2010-Income Tax 22/04/2010

Notification No. 28/2010-Income Tax It is hereby notified for general information that the organization Institute of Bioinformatics, Bangalores has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rule...

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Notification No. 27/2010-Income Tax Dated 22/4/2010

Notification No. 27/2010-Income Tax 22/04/2010

Notification No. 27/2010-Income Tax It is hereby notified for general information that the organization Punjab State Council for Science and Technology, Chandigarh has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of...

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Notification No. S.O.913(E), dated 22/04/2010

Notification No. S.O. 913(E) 22/04/2010

In the said notification, against serial No. (2), for the entry "Shri Uttam Prakash Agarwal, President of the Institute of Chartered Accountants of India", the entry "Shri Amarj it Chopra, President of the Institute of Chartered Accountants of India" shall be substituted....

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IT dept activates control rooms in Delhi and Mumbai to monitor IPL

The Income Tax department has activated control rooms in Delhi and Mumbai to streamline the flow of information between its various investigation directorates probing the IPL. The control rooms are equipped with dedicated telephone lines, fax machines and internet enabled computer systems and are being manned by officials of the rank of I...

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Posted Under: SEBI |

Income Tax assistant commissioner Anjali Bambole in CBI custody till April 27

Mumbai: A special court on Tuesday remanded Income Tax assistant commissioner Anjali Bambole in the custody of the Central Bureau of Investigation (CBI) until April 27. Bambole was arrested on Monday night, two days after the arrest of I-T additional commissioner Sumitra Banerjee and her husband Subratho. The trio is accused of accepting ...

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Posted Under: SEBI |

Nominee, not heir, to get shares after holder’s death: HC

A nominee has the right to the shares after the original shareholder' s death and not the deceased's heirs, Bombay High Court has ruled. Dismissing the application of a widow who sought permission to sell the shares belonging to her late husband, Justice Roshan Dalvi held that she had no right to do so since she was not the nominee. The n...

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Spouse and Law of Nomination

Most unfortunate thing to happen to a woman is to become a WIDOW. Still worst is that she is not NOMINEE in LIC / GIC Policies, P.F., P.P.F., Bank Account / FDRs and other welfare laws and DDA / Society flats, etc. and - or the deceased spouse has not even made his "REGISTERED WILL". Though legally nominee receives money as 'Trustee" as o...

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Posted Under: SEBI |

Tharoor's case similar to Chidambaram's 18 years ago

The resignation of Shashi Tharoor as minister of state for external affairs has striking similarity with another incident 18 years ago when Home Minister P Chidambaram had stepped down from the commerce ministry. The issue then involved alleged investments by Chidambaram's wife Nalini in the scam-tainted Fairgrowth Financial Services that...

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Posted Under: SEBI |

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