"03 May 2010" Archive

Custom duty Notification No 58/2010- Rescinds Notification No. 2/2010-Customs, dated the 11th January, 2010

Notification No. 58/2010–Customs (03/05/2010)

Notification No. 58/2010 – Customs Central Government hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 2/2010-Customs, dated the 11th January, 2010, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.26 (E), dated the...

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SEBI Guidelines for Credit Rating Agencies

Circular No. CIR/MIRSD/CRA/6/2010 (03/05/2010)

Recent events in global financial system have underlined the pivotal role that credit ratings play. Effective use of credit ratings by the users is crucially dependent upon quality and quantity of disclosures made by the Credit Rating Agencies (CRAs). There have been widespread consultations on the issue both globally and within India and...

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Notification No. 57/2010-Customs, Dated 3rd May, 2010

Notification No. 57/2010-Customs (03/05/2010)

Whereas, the designated authority vide notification No.15/30/2008-DGAD, dated the 27th February, 2009, published in Part I, Section 1 of the Gazette of India, Extraordinary, dated the 27th February, 2009, had initiated review in the matter of continuation of final anti-dumping duty on Polytetrafluoroethylene (PTFE) (hereinafter referred t...

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Workers of contractor not eligible for ESI benefits

The Managing Director, Hassan Co- operative Milk Producer's Society Union Limited Vs The Assistant Regional Director Employees State Insurance Corporation (Supreme Court of India)

The workers of a contractor engaged by an establishment do not get the benefits of the Employees State Insurance Corporation Act, the Supreme Court stated last week in the judgment, Managing Director, Hassan Co-operative Milk Producer's Society Union Ltd vs ESI Assistant Regional Director....

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Unborn firm cannot sign arbitration agreement

A company cannot enter into an arbitration agreement even before it is formally registered under the Companies Act, the Supreme Court (SC) ruled in the case, Andhra Pradesh Tourism Development Corporation vs Pampa Hotels Ltd. However, the promoters of the company can enter into such an agreement if it was warranted by the terms of incorpo...

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Posted Under: Custom Duty |

Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement

Circular No. CIR/MRD/DP/16/2010 (03/05/2010)

It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories during January 2010. The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following:...

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EPFO may switch to electronic payment system

The Employees Provident Fund Organisation is switching to an electronic payment system, which will allow it to credit the PF amount to the members’ bank accounts within two days of claim authorisation. EPFO is becoming more customer-friendly these days as it is trying to stave off competition from the new pension scheme, or NPS....

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Posted Under: Custom Duty |

RBI circular on Overseas Investment by NBFCs- No Objection (NoC) from DNBS, RBI

RBI/2009-10/442 DNBS (PD).CC. No.173/03.10.01 /2009-10 (03/05/2010)

Instances have been observed where NBFCs have made overseas investments without regulatory clearance of the Department of Non-Banking Supervision, Reserve Bank of India. Any investments made by NBFCs without regulatory clearance is a violation of FEMA 2004 and attracts penal provisions....

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Amendment in Appendix 11B for Value addition notified video Public Notice No. 42 dated 16.2.2010

Public Notice No. 59/2009-14 (03/05/2010)

In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures (Vol.1), 2009-14 Copper Anode / Copper Cathode / Copper Wire Rods (Manufactured from Copper concentrate) Minimum value addition - 8%...

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Multipurpose Empanelment (MEF) for Chartered Accountants for the year 2010-11

Multipurpose Empanelment Form for the year 2010-11 is an on line application instead of offline application Members can fill up the application form directly in the site it self and Upload it. Members can view the Application and can Edit the Application in different stages....

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Posted Under: Custom Duty |

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