Complete PAN details, Telephone Numbers, Email IDs, and Mobile Number (of the Signatory of the ANF2A) have been made mandatory fields; while Alternate Email ID, Website Address are optional. This is required to facilitate updating the IEC records. No payment of application fee is required till 31.3.2012 for such updating of IEC Records. Email ID of the Banker would assist RA to cross-check the issuance of the Bank Certificate from the Banker, if in doubt. Several instances have come to the notice of DGFT wherein several IECs get allocated when the applicant does not indicate the full name of the individuals. Hence it is now being made mandatory that full name (in the order – First Name, Middle Name and Last Name) should be filled up, without using any abbreviations wherever in ANF2A the name of an individual is required to be filled up. An illustrative example is given in Annexure A to this Public Notice.
Pension products offered by life insurance companies have a special role to play in promoting and protecting the social security by provision of stable and adequate retirement income. The regulatory framework for pension business of life insurance industry should take into consideration the long-term risks inherent in the pension products. The need for greater security of the pensioner’s fund and the stability and financial viability of the insurance companies need to be balanced for healthy growth of the sector. Authority issues following instructions under section 14 of IRDA Act to achieve the above stated objectives.
Circular No. 52/2011-Customs, Dated-11th November, 2011.- References have been received on divergent practices being followed by field formations regarding classification of TV tuners. It was reported that external TV tuners are being classified in heading 8528 or 8529, and internal PCI TV tuners / cards are being classified in subheading 8528 or 8529 or subheading 8473.
Employees Provident Fund Commissioner Vs. O.L. of Esskay Pharmaceuticals Limited (Supreme Court of India)- In terms of Section 530(1), all revenues, taxes, cesses and rates due from the company to the Central or State Government or to a local authority, all wages or salary or any employee, in respect of the services rendered to the company and due for a period not exceeding 4 months all accrued holiday remuneration etc. and all sums due to any employee from provident fund, a pension fund, a gratuity fund or any other fund for the welfare of the employees maintained by the company are payable in priority to all other debts.
Mrs. Anita Malhotra Vs. Apparel Export Promotion Council & ANR. (Supreme Court) -In case of a Director, complaint should specifically spell out how and in what manner the Director was in charge of or was responsible to the accused Company for conduct of its business and mere bald statement that he or she was in charge of and was responsible to the company for conduct of its business is not sufficient. [Vide National Small Industries Corporation Limited vs. Harmeet Singh Paintal and Another, (2010) 3 SCC 330].
Durga Charan Rautray Versus State of Orissa & Anr. (Supreme Court) – The appellant, while accepting payment on the preparation of the final bill, did not undertake that he would not raise any further claims. As such, we are satisfied that the judgment rendered in Bharat Coking Coal Ltd., case (supra) leads to the irresistible conclusion, that despite receipt of payment on the preparation of the final bill, it was still open to the appellant to raise his unsatisfied claims before an arbitrator, under the contract agreement. Thirdly, it was no longer open to the respondents to contest the claim of the appellant on the instant issue after the appellant had obtained the court order dated 15.5.1981 which referred the disputes raised by the appellant to an arbitral tribunal.
