The government plans to create a mechanism to facilitate coordination among various regulatory authorities and courts to speed up liquidation of sick companies. The ministry of corporate affairs looks to set up a special purpose vehicle (SPV) that will allow all authorities involved in the liquidation process to pool in data to a central repository, reducing procedural delays. It is already working on a simple exit scheme for sick firms that will be ready in less than a year.
As per the previous circulars date for submission of Physical Copy of e-704 Acknowledgment along with concern enclosures to the Department was 10th May 2010. Now it is hereby decided that this date is extended up to 15th May 2010 (Saturday).
The articleship training is the backbone of Chartered Accountancy course as it gives an opportunity to the articled assistants to acquire on-the-job work experience of a professional nature, inculcate a disciplined attitude for hard work, develops necessary skills in applying theoretical knowledge to practical situation. In this regard, the Council of the Institute has been taking different initiatives from time to time to streamline and sustain the efforts of the Institute in providing effective articleship.
Indian Premier League (IPL) and cricket have generated public interest on the subject, `sweat equity ‘shares issue. Survey reveals, very few people have clear idea on the procedure of issue of sweat equity shares. What caused hue and cry is the subject of surrender of sweat equity shares issued to Sunanda Pushkar( `PUSHKAR’) in Rendexvous Sports Word ( `RSW’), stakeholder in IPL Kochi. RSW is an unlisted company.
Instruction No. 56, dated 7-5-2010. I am directed to say that pursuant to Notification dated 13th January, 2010 operationalising Section 20, 21 and 22 of the SEZ Act, 2005, Instruction No. 45 dated 30th November, 2009 stands withdrawn w.e.f. 13-1-10.
A new entry in Schedule C has been inserted to cover the declared goods, as specified under the Central Sales Tax Act, 1956 which will continue to attract tax at 4%. Notification No. 4/5/2005-Fin(R&C)(78) dated 4 May, 2010 read with Notification No. 4/5/2005-Fin (R&C) (77) dated 4 May, 2010
The rules and regulations made to check exploitation of emigrants have largely proved effective. Despite the existing framework to enable legal migration and the efforts made by the Government to prevent irregular migration, complaints regarding fraudulent offers of overseas employment and cheating of job seekers are received by the Ministry of Overseas Indian Affairs from time to time.
Notification No. 25/2010-Central Excise, New Delhi, the 07th May, 2010- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India,
Complaints against Chief Executives and Functional Directors of the :Public Sector Enterprises and CMDs and Functional Directors of Public Sector Banks and Financial Institutions whether pseudonymous or otherwise, received by the Cabinet Secretariat or the Department of Public Enterprises (DPE) or the Prime Minister’s office, will be first scrutinized by the Group headed by the secretary (Coordination) in the Cabinet Secretariat.
The Parliament today passed the Employees’ State Insurance (Amendment) Bill, 2009. The Employees’ State Insurance Scheme is a welfare scheme framed for workers covered under the Employees’ State Insurance Act, 1948 providing for medical benefits for the employees and their families and payment of benefits to the employees in cases of sickness, maternity and employment injury. The Scheme is applicable to power-using factories employing 10 or more persons and non-power using factories and certain other establishments employing 20 or more persons.
