The Directorate General of Central Excise Intelligence (Hqrs.), New Delhi has booked a case of Service Tax evasion against M/s Tops Security Limited, Mumbai. The search operations at 41 offices of the Tops Security Group revealed that the group was raising invoices including Service Tax payable on its customers but were not depositing the same in the Govt. exchequer.
Keeping in view the operational difficulties faced by the account holders and the Authorized Dealer banks, as a measure of rationalization, it has been decided to dispense with the stipulation made in A.P. (DIR Series) Circular No. 124 dated May 10, 2012, that EEFC account holders henceforth will be permitted to access the forex market for purchasing foreign exchange only after utilizing fully the available balances in the EEFC accounts.
Claims for re-imbursement of subvention amount may be submitted to the Chief General Manager-in-Charge, Urban Banks Department, Reserve Bank of India, Central Office, Garment House, Worli, Mumbai 400 018 on a quarterly basis starting from quarter ended June 30, 2013 in the format as per Annex III.
Rule 9(1A) of the Prevention of Money Laundering Rules, 2005 requires that every banking company, and financial institution, as the case may be, shall identify the beneficial owner and take all reasonable steps to verify his identity.
So far exercise of jurisdiction vested upon the Company Court under Section 446(2) of the Act is concerned, in my view and also in view of the decisions cited by the learned Counsel appearing for the applicant, it is already settled that this Court have ample power to adjudicate and determine all questions that arises in winding up. Such questions include eviction of trespassers from property of the Company (in liquidation) and the Company Court also by a summary order can direct eviction of a trespassers from the Company property. But Company Court must follow the law of the land in regard to such eviction.
