Arjun Industries Ltd & Anr Vs. Industrial Development Bank Of India & Anr.(Delhi HC) – Para 7 of the order dated 23.05.2007 reads as under:- ‘During the course of arguments, we had put to learned counsel for the parties that prima facie there does not appear to be any legal impediment or obstacle in the assignment of the debt by financial institution like IDBI. However, if the respondents wish to contest the O.A. filed by the petitioner before the Debt Recovery Tribunal on merits and/or to contend that petitioner was also bound by the settlement recommended for acceptance by the petitioner predecessor-ininterest i.e. IDBI or to urge any ground on merits in defence to the OA,
The Government has put in place an investor-friendly policy on FDI, under which FDI, up to 100% is permitted on the automatic route, in most sectors/activities. Significant changes have been made in the FDI policy regime in recent times, to ensure that India remains increasingly attractive and investor-friendly. Foreign Direct Investment (FDI) policy is reviewed on an ongoing basis, with a view to make it more investor friendly.
As per available information, Indian Pharmaceutical exporters are facing intense competition in international markets from China, particularly in Bulk drugs sector. Competition in formulations is also increasing gradually from China. India is also facing competition from Brazilian companies in Latin American Countries. Exports of India, China and Brazil for the last three years are given below:-
SFIO was established for investigations falling with the following characteristics: (i) of complex nature with inter -departmental and multi-disciplinary ramifications; (ii) involving substantial public interest to be judged by size, either in terms of monetary misappropriation or in terms of persons affected, and;
Accordingly, banks/FIs should take steps to identify and assess their ML/TF risk for customers, countries and geographical areas as also for products/ services/ transactions/delivery channels, in addition to what has been prescribed in our Master Circular dated July 1, 2011, referred to in paragraph 2 above. Banks/FIs should have policies, controls and procedures, duly approved by their boards, in place to effectively manage and mitigate their risk adopting a risk-based approach as discussed above. As a corollary, banks would be required to adopt enhanced measures for products, services and customers with a medium or high risk rating.
As Aadhaar is covered under the heading ‘Photo Identity Card Issued by Central/State Government’, the Ministry of Railways has decided to specifically incorporate and indicate Aadhaar as one of the proofs of identity acceptable for undertaking journey on e-tickets as well as under Tatkal scheme.
Notification No. 110 / 2011-Customs- G.S.R. 888 (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments, in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.39/96-Customs, dated the 23rd July, 1996, published in Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 291(E), dated the 23rd July, 1996, namely:-
A doubt has been expressed on the financial activities which promote dairy development in the districts. As credit under the dairy segment (including procurement, storage, processing, collection, transportation, etc.) primarily benefits small/marginal farmers and tiny units, it has been decided that bank credit to all activities which contribute to the development of dairy business would be treated as indirect finance to agriculture under priority sector. However, due care may be exercised by banks to ensure that the ultimate beneficiaries are farmers engaged in dairy farming, who will benefit from such investment.
With a view to providing greater flexibility to RRBs in mobilising non-resident deposits and also in view of the prevailing market conditions, it has been decided to deregulate interest rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non-Resident (NRO) Accounts (the interest rates on term deposits under Ordinary Non-Resident (NRO) Accounts are already deregulated). Accordingly, RRBs are free to determine their interest rates on both savings deposits and term deposits of maturity of one year and above under Non-Resident (External) Rupee (NRE) Deposit accounts and savings deposits under Ordinary Non-Resident (NRO) Accounts with immediate effect. However, interest rates offered by RRBs on NRE and NRO deposits cannot be higher than those offered by them on comparable domestic rupee deposits.
SEBI (Debenture Trustee) Regulations, 1993, allow DTs to incorporate additional clauses in the trust deed provided that these clauses do not dilute or contravene the provisions of the clauses specified in the Schedule-IV of the said Regulations. However, it has been observed during inspections that certain clauses are included in the trust deed that limit or extinguish the obligations of DTs in relation to any rights or interests of investors or are in conflict with the provisions of the Regulations. It may be noted that such clauses in the existing or new trust deeds shall not be applicable and shall stand null and void.
