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Notification No.38 / 2011 – Customs – In the matter of continuation of anti-dumping duty on imports of Viscose Filament Yarn, falling under tariff item 5403 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, the People Republic of China, imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 45/2006-Customs, dated the 24th May, 2006, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R.308(E), dated the 24th May, 2006, and has requested for extension of anti-dumping duty, in terms of sub-section (5) of section 9A of the said Customs Tariff Act;
Joseph Vilangadan. v. Phenomenal Health Care Services Ltd. & Anr. – As per the said contract, Contractors deposited the sum of Rs. 10 lacs by undated cheque no.027840 drawn against South Indian Bank Ltd., Palarivattom Branch, Cochin branch with the respondent no.1 as refundable security deposit for the due performance of the agreement. The said undated cheque was in custody of the respondent 2 no.1 and it appears that the respondent no.1 filled in the date on undated cheque as 4.6.2008. The cheque was presented to the drawee bank through the banker of the respondent no.1. Cheque was returned unpaid on the ground that the drawer had stopped the payment. Therefore, notice was issued by the respondent to the contractor as well as its managing partner for the payment of the cheque amount. In spite of notice, payment was not made.
With a mammoth exercise on to issue an Aadhar number to each of India’s 1.2 billion citizens and interested residents, IANS tracks the process involved for getting what will become a unique identity for people in India to access all public or private services.
Based on intelligence from Narcotics Control Bureau, Chennai, the Officers of the Air Intelligence Unit, Cochin International Airport, Nedumbassery had effected a seizure of 06.050 kgs of Ketamine Hydrochloride valued at Rs.60 lakhs(international market value) from two passengers namely Abdul AzeezBabu of Ooty and Randra Palli Muhammed Shafi of Kannur. The item was concealed in a trolley bag making false bottom and was kept in a polythene cover, which was sandwiched in between two mica sheets wrapped with adhesive tape and covered with blue colour carbon paper and black colour packing paper. The 06.050 kgs of Ketamine Hydrochloride, two trolley bags containing foodstuffs and other items which were used for concealing the contraband and travel documents were seized under NDPS Act, 1985. The persons were arrested and remanded for judicial custody for 02 weeks. Further investigation is in progress.
The Supreme Court today directed a Sahara group firm to submit the proforma of its investment scheme, along with the list of accredited agents dealing in it, so as to ascertain the investors from whom the funds have been raised. The Supreme Court was hearing Sahara Group’s petition against the orders of the Allahabad High Court, which directed the company to share with market regulator Sebi the details of investors participating in the scheme.
Billionaire industrialist Mukesh Ambani has decided to forego Rs.23.75 crore for the last fiscal from his annual compensation as chief of Reliance Industries while keeping his salary capped at Rs.15 crore for the third year in a row. At the same time, the company’s total remuneration for top management personnel, as also commission paid to non-executive directors, declined during 2010-11. In its annual report for the fiscal, the company said that
Council of the Institute of Chartered Accountants of India is pleased to notify that the Information Systems Audit (ISA) Course Assessment Test will be held on 18th June 2011 (Saturday) from 10.30 AM to 2.30 PM
Susi Sea Foods Pvt. Ltd. v. ACIT – Business losses carried forward beyond a period of eight years could be deducted in computing the book profit and hence the limitation of eight years for carry forward and set off of business losses under the normal tax provisions is not applicable while computing book profit under section 115JA of the Income tax Act, 1961.
As announced in the Reserve Bank of India’s Annual Monetary Policy Statement 2011-12 on May 03, 2011 Scheduled Commercial Banks (SCBs) may borrow overnight up to one per cent of their respective Net Demand and Time Liabilities (NDTL) under the Marginal Standing Facility (MSF)Scheme effective from the fortnight beginning on May 07, 2011. Operating instructions in this regard are contained in circular FMD No.59/01.18.001/2010-11 dated May 9, 2011. RBI/2010-11/516 Ref. DBOD No. Ret. BC. 92 /12.02.001/2010-11
As announced in the Monetary Policy for the year 2011-12, a new Marginal Standing Facility (MSF) is being introduced with effect from May 9, 2011. The Scheme will be operationalized on the lines of the existing Liquidity Adjustment Facility – Repo Scheme (LAF – Repo). Under the facility, the eligible entities can avail overnight, up to one per cent of their respective Net Demand and Time Liabilities (NDTL) outstanding at the end of the second preceding fortnight. But for the intervening holidays, the MSF facility will be for one day except on Fridays when the facility will be for three days or more, maturing on the following working day. In the event, the banks’ SLR holdings fall below the statutory requirement up to one per cent of their NDTL, banks will not have the obligation to seek a specific waiver for default in SLR compliance arising out of use of this facility in terms of notification issued under sub section (2A) of Section 24 of the Banking Regulation Act, 1949. RBI/2010-11/515 FMD. No.59/01.18.001/2010-11
