Bombay Stock Exchange Limited (BSE) has reduced membership deposit and fee requirements for new members in the BSE’s Cash and Equity Derivatives segments with immediate effect. In the new offer by the Exchange membership can be obtained by paying a deposit of Rs. 10 Lakh in place of the existing Rs. 1 crore.
Finance ministry is likely to prescribe the minimum 25 per cent public holding for listed companies next month. Official sources told PTI that a notification to this effect is likely to be issued next month by the ministry.While all future public issues will have to abide by 25 per cent criteria, the existing listed companies may be asked to follow the rules in stages.
The government today rejected the demands for tax exemption on setting up power plants, state maritime boards and port trusts, saying it was inconsistent in a moderate tax regime.
Holding companies of business conglomerates will come under the radar of the Reserve Bank of India. Business groups will have to register these investment firms’ holding shares on behalf of promoters with the central bank. These entities, which unlike non-banking finance companies do not accept deposits or trade, will be known as core investment companies (CICs) with a new set of rules.
The Reserve Bank today extended the benefit of low interest rates for exporters up to June 30. The ceilings on interest rates on pre-shipment and post-shipment rupee-export credit were stipulated at benchmark prime lending rate minus 2.5 per cent.
Rejecting allegations of impropriety about its transactions related to the Indian Premier League, World Sports Group (WSG) today said it has not used funds received in connection with the IPL broadcast rights for “inappropriate or unlawful activities”.
The CBI is planning to question ex-Satyam chairman B Ramalinga Raju via video conferencing as he continues to dodge the special CBI court’s summons in connection with the multi-crore fraud in the IT firm he founded. Raju, the prime accused in the scam, is suffering from Hepatitis-C and is currently undergoing treatment at the Nizam’s Institute of Medical Sciences (NIMS) here.
Gujarat Chief Minister Narendra Modi today appealed to the Central government to lift the ban on cotton exports imposed recently and also remove export duty on cotton with immediate effect.
The Government has said that under the provisions of section 205C of the Companies Act, the following amounts are required to be credited to the Investor Education and Protection Fund by the companies: (i) Amounts in the unpaid dividend accounts of companies;
The core Group on IFRS constituted by the Ministry of Corporate Affairs, Government of India and the International Financial Reporting Standards Council of Japan here today jointly agreed to initiate the process of mutual dialogue and collaborate on a common platform on various economic and corporate regulation related issues including convergence of Accounting Standards with IFRS.
