"October, 2010" Archive - Page 10

CCI PLANS Code of Conduct for Trade Bodies

It’s not just numerology that links the recently released movies Dabangg, Anjaana Anjaani and Raavan. Thanks to the Competition Commission of India (CCI), the country’s fair trade practice watchdog, none of these movies would have reached theatres ac...

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Posted Under: Corporate Law |

Sebi unlikely to accept proposal to lift the size of mandatory open offer arising from mergers and acquisitions to 100

The Securities and Exchange Board (Sebi) of India is unlikely to accept a proposal to lift the size of mandatory open offer arising from mergers and acquisitions to 100 per cent from 20 per cent. A panel set up by the Sebi had proposed changes to tak...

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Posted Under: Corporate Law |

SION H-158 as amendment done by Public Notice No. 104/(RE2008)/2004-09 dated 7.11.2008- DGFT Policy Circular No. 03(RE-2010)/2009-14

Policy Circular No. 03(RE-2010)/2009-14 25/10/2010

Such non-inclusion of the Public Notice in the SION book, that was published subsequently, does not signify that the specific SION (in this case H-158 in Public Notice of 7.11.2008) has been rescinded / withdrawn. The SION H-158, as amended on 7.11.2008, continues to be available in the application filing software at DGFT Website (www.dgf...

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Credit/Debit Card transactions- Security Issues and Risk mitigation measures for Card Not Present Transactions

RBI/2010-2011/243 RBI / DPSS No.914/02.14.003/2010-2011 25/10/2010

In this regard, it is clarified that the mandate shall apply to all transactions using cards issued in India, for payments on merchant site where no outflow of foreign exchange is contemplated. The linkage to an overseas website/payment gateway cannot be the basis for permitting relaxations from implementing the mandate....

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IRDA suspends sale of universal life policies and will not allow sale of single-premium products under ULIPs

NA 24/10/2010

The Insurance Regulatory and Development Authority (Irda) has suspended sale of universal life policies, which were being promoted as an alternative to unit-linked insurance plans, from October 23. Sales have been suspended until the final guideline...

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Reduction of Government litigations – providing monetary limits for filing appeals by the Department before CESTAT and High Courts

F.No.390/Misc./163/2010-JC 20/10/2010

Reduction of Government litigations – providing monetary limits for filing appeals by the Department before CESTAT and High Courts – Regarding F.No.390/Misc./163/2010-JC, New Delhi 20th October 2010 Ministry of Finance, Department of Revenue, Central Board of Excise & Customs INSTRUCTION 1. The National Litigation Polic...

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RBI to continue with prudential norms for banks-ICAI

The Reserve Bank of India (RBI) will continue with prudential norms for banks, the Institute of Chartered Accountants of India (ICAI) has said. It also stated that International Financial Reporting Standards-9 (IFRS 9) for banks will not be adopted. ...

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Posted Under: Corporate Law | ,

Transfer of High Courts Judges

Transfer of High Courts Judges-In exercise of the powers conferred by clause (1) of article 222 of the Constitution of India, the President after consultation with the Chief Justice of India, is pleased to transfer the following Judges of the High Co...

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Posted Under: Corporate Law |

Income Tax Demand of Rs.11,218 Crore Raised on Vodafone for failure to deduct tax as required under section 195

The Income Tax department today issued an order raising a tax demand of Rs.11,217.95 crore on Vodafone International Holdings BV treating it as an assessee in default under section 201(1) of the Income Tax Act, 1961 (the Act) for failure to deduct ta...

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Posted Under: Corporate Law |

Rs 246 crore CWG deal is transparent, says Doordarshan DG

Rejecting allegations of corruption, public broadcaster Doordarshan today claimed that the Rs 246 crore contract with a British firm to telecast Commonwealth Games was 'transparent and as per government rules. Having faced brickbats from all quarters...

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Posted Under: Corporate Law |

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