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In exercise of the powers conferred by section 15JB of the Securities and Exchange Board of India Act, 1992, section 23JA of the Securities Contracts (Regulation) Act, 1956 and section 19-IA of the Depositories Act, 1996 read with section 30 of the Securities and Exchange Board of India Act, 1992,
The Enforcement Directorate today signed a Memorandum of Understanding (MoU) with Director General of Foreign Trade (DGFT) for sharing of foreign exchange realization data. This data is also known as eBRC (Electronic Bank Realization Certificate) data.
Doubts have been raised on whether Transmission shafts / Power takeoff shafts would be classifiable under 8433 or 8432 as parts of agricultural machinery. This issue was also discussed in the Conference of Chief Commissioners of Customs and Directors General on Customs Tariff and Allied Matters, held on 05-06 June 2013, at Vishakhapatnam and subsequently examined by the Board. The competing headings, subheadings and Tariff Items are as follows:
Reference have been received on issue of classification and importation of the ‘Human Embryo’ frozen in liquid nitrogen under the Customs Tariff Act, 1975. Doubts have been raised whether ‘human embryo’ is classifiable under heading 0511 or 3001.
Subject:-Discussion paper on e-commerce in India – seeking comments/views The Department of Industrial Policy and Promotion has prepared a Discussion Paper on e-commerce in India. The discussion paper has been prepared on the following aspects:- (i) Introduction (ii) Status of the global e-commerce industry (iii) E-commerce in emerging economies (iv) Status of e-commerce in India […]
Attention of Authorized Dealers is invited to Section 6 (4) of FEMA, 1999 in terms of which a person resident in India may hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India if such currency, security or property was acquired, held or owned by such person when he was resident outside India or inherited from a person who was resident outside India.
Reserve Bank has received representations that for operational convenience the Non-Resident Indians (NRIs), as defined in Regulation 2(vi) of FEMA Notification No.5 dated May 3, 2000, may be permitted to operate such accounts on Either or Survivor basis.
In case of unlisted company, the non-resident investor shall be eligible to exit from the investment in equity shares of the investee company at a price not exceeding that arrived at on the basis of Return on Equity (RoE) as per the latest audited balance sheet. Any agreement permitting return linked to equity as above shall not be treated as violation of FDI policy/FEMA Regulations.
