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
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subsequently, does not signify that the specific SION (in this case H-158 in Public Notice of 7.11.2008) has been rescinded / withdrawn.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.dgft.gov.in). RAs may please take note.
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.
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
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 Policy formulated by the Government of India aims to reduce Government litigation so that […]
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.
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
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
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
The income tax department chose the softer option of acting on a tax evasion of Rs 29 crore from CWG broadcast firm SIS Live by withdrawing its own order to attach the company’s bank accounts.It rewrote its order attach accounts directly and instead
