"04 July 2011" Archive

RoC probing affairs of Speak Asia, to submit report by July 10

The Corporate Affairs Ministry has asked the Registar of Companies to inspect the books of accounts of the controversial multi-level marketing company Speak Asia and submit its report to the government by July 10. The Singapore-based company Speak Asia, which is yet to be incorporated as a company in India, would be inspected under sectio...

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Posted Under: Company Law |

All Party Resolution on Lokpal Bill and Statement by Shri P. Chidambaram at GoM Briefing on Lokpal Bill

As you are aware, there was an all-party meeting yesterday. It started at half-past four, went on till nearly quarter to eight. Apart from the Prime Minister and the Finance Minister – the Finance Minister is also chairman of the joint drafting committee – there were 31 speakers representing the political parties. Both Leaders of Oppo...

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Posted Under: Company Law |

Committee Constituted to Review Role, Functioning and Structure of CEIB Submits its Report to Finance Minister

The Central Government had appointed a Committee in March 2011 to review the role, functioning and structure of the Central Economic Intelligence Bureau (CEIB) and to recommend steps to streamline and strengthen financial intelligence gathering and its dissemination for effective coordination amongst the Intelligence Organisations of the ...

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Posted Under: Company Law |

FDI Equity Inflows Touches US $ 4.664 Billion for Month of May 2011, Second highest FDI Equity Inflow Received in any Month for the Last Eleven Financial Years

Consolidation of FDI Policy: With the aim of simplifying FDI policy, promoting clarity of understanding of foreign investment rules among foreign investors/sectoral regulators and having a single policy platform, so as to ease the regulatory burden for Government, a major exercise of integrating all existing regulations on FDI, into one c...

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Posted Under: Company Law |

No decision on lowering GDP projection yet – FM

Finance Minister Pranab Mukherjee today said the government has not taken any decision yet on revising the economic growth projections for 2011-12. We have not taken any decision yet..., Mukherjee told reporters when asked if the government is planning to revise the GDP growth projections downwards....

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Posted Under: Company Law |

Heat on tax havens – FDI from Mauritius, Cyprus drops

Amidst pressure on the government to tighten the screws on inflow of funds from tax havens, India's foreign direct investment from Mauritius and Cyprus, dropped significantly in 2010-11. While the FDI inflows from all the sources declined by 25% in 2010-11, the drop was steeper at about 33% to USD 6.98 billion from Mauritius. Likewise, th...

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Posted Under: Company Law |

When it is found that the licences produced entitle the Respondent to clear the ex-bond goods free of duty, there are no reasons for them to have mis-declared the values since the goods are duty free

Commissioner of Customs, Calcutta Vs G. C. Jain and another (Supreme Court of India)

Commissioner of Customs, Calcutta Vs G. C. Jain and another (Supreme Court of India)- Respondents imported 14 consignments of Butyl Acrylate Monomer (BAM) and cleared the same against advanced licenses by availing the benefit of customs notification nos. 203/92-Cus. and 79/95-Cus., without payment of duty - Revenue issued show cause notic...

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Rajmal Lakhichand and another vs Commissioner of Central Excise and Customs (SC)

M/s Rajmal Lakhichand Vs. Commr. Cen. Exc. & Customs (Supreme Court of India)

High Court was justified in refusing to expand the scope of the reference so as to include the silver weighing 1713.807 kgs. which was confiscated u/s. 111(d) of the Act while hearing the reference with regard to silver weighing 194.250 kgs. but confiscated under a different provision of law, namely, u/s. 120(2) of the Act - Supreme Cour...

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Spice Communications – HC rejects Application filed under rule 6 and 9 of the Companies Rule, 1959

M/S. Spice Communications Limited & Anr. (Delhi High Court)

SPICE COMMUNICATIONS LIMITED & ANR Company Applications No. 578-579/2011 have been filed by the Department of Telecommunication (in short ‘DOT’) under Rules 6 and 9 of the Companies (Court) Rules, 1959 for recall and stay of this Court’s order dated 5th February, 2010 by virtue of which amalgamation of Spice Communication Limited (f...

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EOI for hiring KM partner for MCA 21

MCA SPV an Independent Business Division (IBD) of Indian Institute of Corporate Affairs (IICA), under Ministry of Corporate Affairs intends to engage a Knowledge Management partner for purpose of data mining and analysis using data repository of MCA21 system of Ministry of Corporate Affairs, Government of India. The Knowledge Management ...

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Posted Under: Company Law |

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