"08 June 2011" Archive

Insurance – Report of the Committee on Bancassurance

Circualr No. IRDA/AGENTS/CIR/BANC/115/06/2011 (07/06/2011)

The IRDA had constituted a Committee on Bancassurance vide Order No. IRDA/AGENTS/ORD/02/APR 2009, dated May 4, 2009 to study the distribution of insurance products through Banks. The Committee had invited for comments/views from key stakeholders, insurers, consumer associations, distributors, etc., and after analysis of these views the Co...

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Insurance – IRDA (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011

Notification No. F. NO.IRDA/REG/1/55/2011 (08/06/2011)

These regulations may be called the Insurance Regulatory and Development Authority (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011. They shall come into force on the date of their publication in the official Gazette. These Regulations shall apply to all general insurance companies other than wholly ow...

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CBDT Sets-up a Committee to Examine And Suggest Ways to Recover Income Tax Demand

CBDT Sets-up a Committee to Examine And Suggest Ways to Recover Income Tax Demand Classified Under the Categories 'Assessees not Traceable' and 'No Assets/Inadequate Assets for Recovery' In order to examine certain suggestions on Income tax Demand classified under the categories 'Assessees not traceable' and 'No assets/inadequate assets f...

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Posted Under: Corporate Law |

CBI arrests Joint Director of CIB and RC under Ministry of Agriculture in a bribery case

he Central Bureau of Investigation has today arrested a Joint Director of Central Insecticide Board & Registration Committee, Ministry of Agriculture for demanding & accepting a bribe of Rs.40,000/- from the complainant. The complainant, authorized representative of a Hyderabad-based company had approached the Joint Director(Chemistry) of...

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Posted Under: Corporate Law |

Minimum Export Price of Onions – Notification No. 56 (RE–2010)/2009-2014

Notification No. 56 (RE-2010)/2009-2014 (08/04/2011)

Notification No 56 (RE – 2010)/2009-2014 Minimum Export Price (MEP) of onions other than Bangalore Rose Onions and Krishnapuram onions will be US$ 200 per Metric Ton F.O.B. It was US$ 170 per Metric Ton as notified on 31.03.2011. There shall be no change in the MEP of Bangalore Rose Onion and Krishnapuram onion which continues to b...

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Seizure of Fake Indian Currency Notes (FICN) having face value of Rs.1.54 Crores by DRI

NA (08/06/2011)

In yet another major success in its fight against the problem of smuggling and circulation of Fake Indian Currency Notes into India, the officials of the Directorate of Revenue Intelligence (DRI) seized FICN having face value of Rs.1.54 Crores in what is described as one of the bigg seizures of FICN by any agency in this country. ...

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Instructions regarding Monitoring of fresh Fruit and Vegetable Import from Europe for E.Colli bacterial contamination

F.No. 450/60/2011-Cus. IV (08/06/2011)

It has been decided, as precautionary measure, that Food Safety and Standards Authority of India (FSSAI) would test samples of fresh Fruits and Vegetables consignments imported from Europe into India for E.Colli bacteria. FSSAI has directed their Authorised Officers to have the food articles tested for E.Colli bacterial contamination befo...

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High net-worth individuals wants more self-control over their investment habits,

) Despite their wealth, 41 per cent of high net-worth individuals (HNWIs) across the globe wish they had more self-control over their investment habits, a report has revealed. The Barclays Wealth Insights series said that a need for increased financial discipline is likely to be felt most by those at the wealthiest end of the scale (10 m...

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Posted Under: Corporate Law |

Discussions on to further liberalise FDI in Multi Brand Retail – Pranab Mukherjee

Amid suggestions for opening up of multi-brand retail for foreign investments, finance minister Pranab Mukherjee on Wednesday said discussions were on to further liberalise the FDI policy. 'Discussions are underway to further liberalise the FDI (foreign direct investment) policy,' he said at the annual conference of chief commissioners a...

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Posted Under: Corporate Law |

Home Minister, Shri P. Chidambaram’s Statement on Events Concerning Ramdev’s Protest

I acknowledge that individuals and organisations have a right to protest peacefully in a democracy. Police give permission for peaceful protest, after taking into account the overall law and order and security situation. For example, permission was given to the BJP to undertake a satyagraha on 5/6.6.2011. Today, permission has been given ...

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Posted Under: Corporate Law |