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Archive: 2013

Posts in 2013

Bid rigging to reduce competition or to adversely affect or manipulate bidding process is anti-competitive

April 5, 2013 1014 Views 0 comment Print

In the present case, indisputably all the participating opposite parties i.e. 28 Part-I firms and 1 Part-II firm quoted an all-inclusive rate of Rs. 66.50 each for the supply of the tendered material. Further, the quantity quoted by the each of the bidders was less than 50% of the total quantity. These facts have not been denied or disputed by any of these opposite parties. Coupled with the facts that the bid documents containing same handwriting, same format with common omissions and commissions of language, past conduct etc., it is safe to infer that such conduct is reflective of meeting of minds or concerted action to establish that the firms have directly or indirectly tried to determine or influence the price of the tender/ project.

ICAI – Zone-shifting of candidates for May – 2013 CA Exams

April 5, 2013 699 Views 0 comment Print

April 5th, 2013 Subject: Zone-shifting of candidates for May – 2013 CA Exams Due to paucity of accommodation in some Zones opted by the candidates in the cities of Chennai, Indore and Mumbai some of the candidates have been allotted examinations centres in the zone other than the zone opted in the said cities. In […]

Authorised Money Changers may sell INR to foreign tourists /visitors against International Credit/ Debit Cards

April 5, 2013 937 Views 0 comment Print

On a review, it has been decided that Authorised Money Changers (AMCs) may sell Indian rupees to foreign tourists /visitors against International Credit Cards / International Debit Cards and should take prompt steps to obtain reimbursement through normal banking channels.

Classification of Low Noise Block (LNB) down converter in harmonised Customs Tariff – regarding

April 5, 2013 3118 Views 0 comment Print

Doubts have been raised regarding classification of Low Noise Block (LNB) down converter which is designed to be mounted on aerial (dish) of a system for receiving satellite broadcasts (Satellite Television Reception System)

No Revival of PSU Litigation after COD Rejection – Cabinet Secretariat

April 5, 2013 606 Views 0 comment Print

Instances have come to notice wherein a few PSUs/Departments have approached Tribunals/Courts to re-open the cases in which permission to litigate was denied by CoD. In a few cases, Public Sector Undertakings/Departments have filed petitions in the High Courts. In an isolated case, a Special Leave Petition (SLP) has also been filed in the Hon’ble Supreme Court by an organisation against the High Court decision seeking clarification of the Order dated 17.2.2011 of the Hon’ble Supreme Court, although the High Court had declined to re-open the case.

Major changes in MVAT & Notification amending MVAT & other laws

April 5, 2013 3810 Views 0 comment Print

Single revised return for the year provided in case of revision as per the audit report u/s 61 or as per intimation u/s 63 Provision for issuing notification to waive or reduce late fee for class of dealers or periods as Government thinks fit

SEBI -Exit order in respect of Coimbatore Stock Exchange (CSX)

April 5, 2013 1513 Views 0 comment Print

SEBI vide Circular dated May 30, 2012 had issued the Guidelines for exit of stock exchanges. This contained details of the conditions for exit of de-recognised/non-operational stock exchanges inter-alia including treatment of assets of de-recognised exchanges and a facility of dissemination Board for companies listed exclusively on such exchanges, while taking care of the interest of Investors.

ICSI National Awards for Excellence in Corporate Governance – 2012

April 5, 2013 612 Views 0 comment Print

Chairman of the Awards Jury of the ICSI (Institute of Company Secretaries of India) and former Chief Justice of India Shri Justice M. N. Venkatachaliah here today  presented the ‘ICSI National Awards for Excellence in Corporate Governance -2012’ to two ‘Best Governed Companies’: 1. Indian Oil Corporation Limited; and 2. HCL Technologies Limited.

Companies Need to Look Beyond Shareholder Value – Sachin Pilot

April 5, 2013 477 Views 0 comment Print

Companies Need to Look Beyond Shareholder Value And Make Sustainability a Core Driver of their Strategy – Sachin Pilot Corporate Affairs Minister Inaugurates ‘CSIA International Corporate Governance Conference’ Shri Sachin Pilot, Minister of Corporate Affairs, inaugurated the two-day 2nd CSIA (Corporate Secretaries International Association) International Corporate Governance Conference on the theme ‘Corporate Governance for Sustaining […]

MVAT- Amendment in VAT Rate on Precious Stone/Diamond wef 01.04.2013

April 4, 2013 10529 Views 0 comment Print

3. Precious stones, semi-precious stones and pearls whether real or cultured but excluding those to which entry 3A of this SCHEDULE applies, when sold on or after the 1st April 2013.

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