"15 June 2011" Archive

SEBI Circular on Standardisation of Rating Symbols and Definitions

Circvular No. CIR/MIRSD/4/2011 (15/06/2011)

CIR/MIRSD/4/2011 It has been felt that there need to be common rating symbols and definitions (i) for easy understanding of the rating symbols and their meanings by the investors, and (ii) to achieve high standards of integrity and fairness in ratings. ...

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RBI permission must for NBFCs to open subsidiaries abroad

With an aim to regulate the credit system to the advantage of the country, the Reserve Bank today said NBFCs cannot open subsidiaries or enter into joint ventures abroad without its permission. 'No NBFC shall open subsidiaries/joint ventures/ representative office abroad or shall make investment in any foreign entities without obtaining p...

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Posted Under: SEBI |

RBI admits its monetary policy actions may pull down growth

Reserve Bank today admitted that its own tight monetary policy, besides rising crude oil prices and uncertain global environment, poses a threat to India's growth momentum in the current fiscal. 'The slackening of global recovery, high oil and commodity prices, deceleration in domestic industrial growth, uncertainty about continuation of ...

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Posted Under: SEBI |

Funding current account deficit may be a challenge – RBI

India could see some slowdown in capital inflows going forward as advanced economies exit from the easy monetary policy, making it tougher to fund a widening current account deficit, the Reserve Bank of India (RBI) said in its Financial Stability report....

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Posted Under: SEBI |

Notification No. 48/2011-Customs, Dated: 15/06/2011

Notification No. 48/2011-Customs (15/06/2011)

Notification No. 48/2011-Customs Whereas, the designated authority vide notification No. 15/18/2010-DGAD, dated the 30th May, 2011, published in the Gazette of India, Extraordinary, Part I, Section 1 dated the 30th, May 2011, has initiated review in terms of sub-section (5) of Section 9A of the Customs Tariff Act, 1975 (51 of 1975) and in...

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Bonanza for loss making MTNL, gets Rs 177 cr income tax refund

In a bonanza for the loss making telecom PSU, state-run MTNL today received over Rs 177 crore as income tax refund for the year 2010-11. MTNL has received a refund order amounting to Rs 177.76 crore from the Income Tax Department pertaining to Assessment Year 2010-11, MTNL said in a filing to the Bombay Stock Exchange....

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Posted Under: SEBI |

RBI may hike key policy rates by 25 bps tomorrow

With inflation hovering much above the comfort zone, the Reserve Bank may raise key policy rates by 25 basis points in its first mid-quarterly review of the credit policy for FY'12 tomorrow. I think the RBI would take one more small step to curb inflationary expectations. Market is expecting a 25 basis points increase, Indian Overseas Ban...

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Posted Under: SEBI |

S Jaipal Reddy today met Prime Minister Manmohan Singh to push for an early decision on raising diesel and domestic LPG prices

With the losses of oil firms mounting with each passing day, Oil Minister S Jaipal Reddy today met Prime Minister Manmohan Singh to push for an early decision on raising diesel and domestic LPG prices. An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee, which decides on revising rates of the sensitive produ...

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Posted Under: SEBI |

Summary of Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956

In order to give an opportunity for fast track exit by a defunct company for getting its name struck off from the ROC, the Ministry Corporate Affairs (MCA), Government of India (GOI) has on 7 June 2011 decided vide General Circular No.36/2011 to modify the existing route through e-form – 61 and has prescribed the 'Fast Track Exit mode G...

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New Rules for Passing of the Resolution through Postal Ballot

The Central Government has vide Notification dated 30 May 2011 issued new set of rules for passing of resolution by Postal Ballot called, the Companies (Passing of Resolution by Postal Ballot) Rules, 2011 (New Rules), which will supersede the Principal Rules. Definition of Voting by Electronic Mode- A process for recording votes by the me...

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