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Archive: December, 2010

Posts in December, 2010

Corrigendum to Notification No. 14(RE-2010)/2009-14 dated 22.12.2010 regarding export of cotton yarn

December 29, 2010 430 Views 0 comment Print

However, Exporters who have obtained Registration Certificate from Textile Commissioner, Mumbai on or before 1st December, 2010 would be permitted to export Cotton Yarn within the quantity limit for which such registration certificate has been issued and within the validity of such registered contract

Income tax department notice to Satyam to get accounts for years 2002/03 and 2007/08 audited

December 29, 2010 474 Views 0 comment Print

Satyam Computer Services Ltd. said Tuesday it has received a letter from India’s tax department requesting it to get its accounts audited for the tax assessment years of 2002-2003 and 2007-2008. No further details were provided in Satyam’s filing to

Conditions and modalities for registration of contracts of cotton with DGFT

December 29, 2010 361 Views 0 comment Print

Attention is invited to Notification No. 12 (RE-2010)/2009-14 dated 16.12.2010 issued by this Office whereby registration of contracts for export of cotton under ITC(HS) Code 5201,5202 & 5203 will be done by DGFT and Policy Circular No. 6(RE-2010)/2009-14 dated 16.12.2010, through which it was informed that modalities for registration of contracts will be notified separately. The data for export made from 1/11/2010 to 15/12/2010 is being collected and allocation will made for the balance quantity keeping in view the decision of GoM to limit the export of raw cotton to 55 lakh bales during the cotton season 2010-11. Accordingly, it has been decided to invite applications for grant of registration certificate for export of cotton from 31.12.2010 to 06.01.2011 (till 5.00 PM).

Monetary and Credit Information Review

December 29, 2010 753 Views 0 comment Print

Cash reserve ratio (CRR) of scheduled banks increased by 75 basis points from 5.0 per cent to 5.75 per cent of their net demand and time liabilities (NDTL) in two stages. The first stage of 50 basis points increased from the fortnight beginning Febru

Lead Bank Scheme – Conduct of State Level Bankers’ Committee (SLBC)/Union Territory Level Bankers’ Committee (UTLBC) meetings

December 29, 2010 637 Views 0 comment Print

Of late, it has been observed that these meetings are neither conducted in time nor the agenda is circulated in advance. Further, the level of participation in the meetings is not upto the prescribed level undermining the prime objective of holding the meetings. A need is, therefore, felt to streamline and strengthen the system of holding of these meetings.

Special Economic Zones (Sixth Amendment) Rules, 2010 – Amendment in Form “C”

December 29, 2010 696 Views 0 comment Print

NOTIFICATION NO. G.S.R. 982(E), DATED 16-12-2010 In exercise of the powers conferred by section 55 of the Special Economic Zone Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely:— 1. (i) These rules may be called the Special Economic Zones (Sixth […]

SEBI – Activity schedule for Auction Session

December 28, 2010 604 Views 0 comment Print

This circular is being issued in exercise of powers conferred under section 11(1) of Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market.

Directions for opening and operation of Accounts and settlement of payment for electronic payment transactions involving intermediaries

December 28, 2010 793 Views 0 comment Print

In continuation of the above directions, please note to forward a covering letter from your bank certifying that the quarterly certificate from the concurrent auditor being furnished to the Reserve Bank of India on the operations of the intermediaries’ accounts includes all the intermediaries accounts maintained with your bank.

Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange Derivatives and Overseas Hedging of Commodity Price and Freight Risks

December 28, 2010 1248 Views 0 comment Print

In the light of developments in the domestic and international financial markets, the extant guidelines on OTC foreign exchange derivatives, commodity price and freight risks have been revised in consultation with the banks, corporates and other stake holders. The Comprehensive Guidelines on Foreign Exchange Derivatives and Overseas Hedging of Commodity Price and Freight Risks are furnished in the Annex. The revised guidelines would be effective from February 01, 2011.

ICAI Extends last date for complying with CPE hours credit requirement to 31st March, 2011

December 28, 2010 718 Views 0 comment Print

Extension of last date for complying with the requirements of CPE hours credit from 31st December, 2010 to 31st March, 2011 This is for kind information of the members that the Council of the Institute has decided to extend the CPE Block period of

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