In the Foreign Exchange Management (Current Account Transactions) Rules, 2000, in schedule II, item number 8 and the entry relating thereto shall be omitted.
I am directed to say that references have been received from various stake holders seeking clarification regarding whether employees of units in IT SEZ can work on need base basis from home or from a place outside the SEZ.
National Housing Bank, the housing finance regulator, is looking at issues concerning teaser rate saying such practices could pose systemic risk for the home loan sector. “We have to be on top of the issue (teaser rate) …
The Government is considering increasing the number of benches in BIFR, the quasi-judicial body that looks at revival of financially sick companies, Finance Minister Pranab Mukherjee said yesterday. Board of Industrial and Financial Reconstruction (BIFR) currently has only three benches, which is one of the reasons why revival or winding up cases get dragged for years.
The Delhi High Court today stayed its order of bringing stock exchanges within the ambit of the Right to Information Act. A division bench headed by acting Chief Justice Madan B Lokur stayed the operation of a single bench order which had on April 15 held that stock exchanges are “quasi” governmental bodies which are bound to disclose information to the public under the transparency law.
On the basis of the deliberations taken place in the meeting on 29th March, 2010, a Press Release (No.3/2010) related to the roadmap for the application of the converged Indian Accounting Standards by the Banking companies, Insurance companies and Non-Banking finance companies was issued on 31st March, 2010.
The Government has said that according to a recent study, it takes an average of about 10 years to complete a company liquidation process in India. Giving this information in reply to a question in the Rajya Sabha, the Minsiter for Corporate Affairs, Shri Salman Khurshid told the House that the Companies Bill, 2009, which seeks to replace the existing Companies Act, 1956 provides for summary winding up proceedings in case of companies having assets of book value not exceeding one crore rupees.
An agreement has been signed with Asian Development Bank (ADB) for a loan of US$ 50 million to SIDBI on 19th March, 2010. ADB has also approved a Partial Credit Guarantee (PCG) facility of US$ 250 million for the Micro, Small and Medium Enterprises (MSME).
At the outset, I extend my warm greetings and thanks to our hosts for organizing the Annual meeting in this beautiful city of Tashkent. Uzbekistan is special to India because of its close historic and cultural ties. A memorial to our former Prime Minister Lal Bahadur Shastri, who breathed his last here, stands in this city. So does the Mausoleum of Yunus Khan, the grandfather of Babur, founder of the Mughal dynasty. It gives me great pleasure to be here today.
A bill to raise the ceiling of gratuity for employees to Rs 10 lakh from Rs 3.5 lakh was passed by the Lok Sabha without discussion today. The House, which witnessed an opposition furore over the 2G spectrum “scam” and reports about alleged involvement of a central minister in an illegal arms deal, also adopted the Employees’ State Insurance (Amendment) Bill 2009 without any debate.
