The Ministry of Corporate Affairs has after giving due consideration decided that any Financial Institution applying for declaration as PFI shall fulfil the following criteria:- (a) A company or corporation should be established under a special Act or the Companies Act, 1956 being a central act; (b) Main business of the company should be industrial/infrastructural financing;
Government today said it has cleared 25 foreign direct investment, FDI proposals worth 2,973.40 crore rupees. The Finance Ministry said in a release that the applications were cleared after recommendations of the Foreign Investment Promotion Board,FIPB headed by Economic Affairs Secretary R Gopalan.
Learned Central Government Standing Counsel submitted that the award so far as the upholding the claims under claim Nos.8 to 75 are not seriously opposed and it need not be set aside, urging that the challenge to the award on the ground it is opposed to public policy is against the awarding of claims under 1 to 7, we are not impressed by that submission. When the award is found to be void as opposed to public policy no question of segregation of any part of the award would emerge for consideration
The first question that we have to consider is whether an agent of a principal who is also a dealer under the Act is entitled to the same rights as his principal has under the Act. Under the general law the agent merely represents his principal. Therefore, while functioning within the scope of the agency he can exercise all the rights which his principal could have exercised. In fact, in the case of an ordinary agency, the agent merely acts for his principal. This provision must hold good even under the Madras General Sales Tax Act unless otherwise provided therein.
Notification No. 38/2012- Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on 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.85/2004-Customs, dated the 31st August, 2004, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 560 (E), dated the 31st August, 2004, namely:-
Notification No. 30/2012-Customs (ADD) Whereas, in the matter of import of Aniline (hereinafter referred to as the subject goods), falling under sub-heading 292141 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act), originating in, or exported from European Union (hereinafter referred to as the subject countries) and imported into India, the designated authority, vide its final findings No. 14/39/2010-DGAD, dated the 13thApril, 2012, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 13th April, 2012, had come to the conclusion that-
Notification No. 29/2012-Customs (ADD) In exercise of the powers conferred by sub-section (1) and sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 33/2008-Customs, dated the 11th March, 2008, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 174 (E), dated the 11th March, 2008, except as respects things done or omitted to be done before such amendment, namely:-
Notification No. 3/2012-Customs (SG) Now, therefore, in exercise of the powers conferred by sub-section (1) of section 8B of the said Act, read with rules 12 and 14 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, the Central Government after considering the said findings of the Director General (Safeguards), hereby imposes on Phthalic anhydride, falling under tariff item 2917 35 00 of the First Schedule to the said Act, when imported into India, a safeguard duty at the rate of 10% ad valorem, when imported from the 17th day of January, 2012 to 16th day of January, 2013 (both days inclusive).
Notification No. 2/2012-Customs (SG), Central Government hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue) no. 1/2012- Customs (SG), dated the 17th January, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),vide number G.S.R.29 (E), dated the 17th January, 2012, except as respects things done or omitted to be done before such rescission.
An applicant may, either before or after the institution of prosecution, make an application under sub-section (2) of section 9A of Excise Act, made applicable to service tax vide section 83 of the Act, in the form appended to these rules, to the compounding authority to compound the offence. Where an offence under the Act has been committed at more than one place falling under the jurisdiction of more than one compounding authority, then the Chief Commissioner of Central Excise having jurisdiction over such place where the amount of service tax evaded is more than the others, shall be the competent authority.
