"03 July 2014" Archive

Financial Commitment by Indian Party under ODI– Restoration of Limit

RBI/2014-15/117 A.P. (DIR Series) Circular No.1 (03/07/2014)

On a review, it has been decided to restore the limit of Overseas Direct Investments (ODI)/ Financial Commitment (FC) to be undertaken by an Indian Party under the automatic route to the limit prevailing, as per the extant FEMA provisions, prior to August 14, 2013. It has, however, been decided that any financial commitment exceeding USD ...

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Multipurpose Empanelment for the year 2014-15 for bank audits

This is in respect to the Multipurpose Empanelment Form for the year 2014-15. This is to inform that Multipurpose Empanelment Form for the year 2014-15 has been made live at www.meficai.org. Last date for submission of online form is 4th August, 2014 and the last date of submission of hard copy of “DECLARATION FOR MEF […]...

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Posted Under: Fema / RBI |

100s of Officals invloved in Making Union Budget Locked till budget presentation

Printing Process for Union Budget 2014-15 Commenced with Halwa Ceremony; more than 100 Officials Involved in Making the Union Budget are Locked in From Today in Press till Union Budget is Presented by the Finance Minister on 10th July, 2014 More than 100 officials involved in making the Union Budget are locked in from today […]...

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Posted Under: Fema / RBI |

ICSI releases Ready Reckoner on One Person Company (OPC)

One person company is a concept introduced in India by the Companies Act, 2013. The concept opens up new vistas of business opportunities and particularly spectacular possibilities for sole proprietorships and entrepreneurs who can enjoy the advantages of limited liability, and the benefit of separate legal entity as well....

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Posted Under: Fema / RBI |

Life term, jail terms for other offences can't run together: SC

Duryodhan Rout Vs State Of Orissa (Supreme Court of India)

A sentence of imprisonment for life means a sentence for entire life of the prisoner unless the appropriate Government chooses to exercise its discretion to remit either the whole or a part of the sentence under the provisions of the Criminal Procedure Code....

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Disciplinary proceedings can’t continue after retirement: SC

Dev Prakash Tewari Vs U.P. Cooperative Institutional Service Board (Supreme Court of India)

Once the appellant had retired from service on 31.3.2009, there was no authority vested with the respondents for continuing the disciplinary proceeding even for the purpose of imposing any reduction in the retiral benefits payable to the appellant....

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Recovery Proceedings by DRT against Guarantors Are Without Jurisdiction

It is submitted that the recovery proceedings under section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the Guarantors are absolutely without jurisdiction. As per Black’s Law Dictionary, Ninth Edition, at page 1389, recovery means the regaining or restoration of something lost or taken away. It ...

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Posted Under: Fema / RBI |

Section 185 of Companies Act, 2013 – Loan to Directors

SECTION 185 of Companies Act, 2013 – Loan to Directors- Section 185 & its reference with Section 186 of Companies Act, 2013 Section 185 of the Companies Act, 2013 which has been notified on 12th September 2013 corresponds to section 295 of the Companies Act, 1956 which deals in loan to directors. This section is […]...

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Posted Under: Fema / RBI | ,

Modi Looking to use Facebook to bring more tourists to India

Facebook COO Sheryl Sandberg calls on PM The Chief Operating Officer of Facebook, Ms. Sheryl Sandberg, called on the Prime Minister, Shri Narendra Modi, today. She said India is a very important country for Facebook, considering the high number of active Facebook users in India. The Prime Minister discussed with Ms. Sandberg, ways through...

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Posted Under: Fema / RBI |

Rate of exchange of conversion of each of foreign currency WEF 04.07.2014

Notification No. 49/2014-Customs (N.T.) (03/07/2014)

the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column...

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