Acting tough, the government has imposed fines worth Rs 700 crore on various telecom operators for carrying out illegal and clandestine activities in their services, particularly for non-compliance of the subscriber verification process. The penalty was imposed by Telecom Enforcement , Resource and Monitoring (TERM) Cells till January 2011 on various telecom service providers operating in different licence service areas for non-compliance of subscriber verification guidelines, a Home Ministry report said.
Union Heavy Industries Minister Praful Patel today batted in favour of making CSR (corporate social responsibility) spends mandatory for private companies , saying it is necessary for the upliftment of people. “I think the corporate sector cannot avoid the responsibility of bringing about change in our country and should support initiatives not only of the government but also outside the government,” Patel told reporters here.
Admission to Company Secretaries (CS) Foundation Programme is on. 10+2 pass/ appearing students seeking admission till 31st March, 2011 will be eligible for Examination in December, 2011. Students of any stream- Arts / Science / Commerce ( excluding Fine Arts ) can pursue the CS FOUNDATION PROGRAMME conducted by the Institute of Company Secretaries of India (ICSI). CS Helpline is available on Telephone No. 011 – 41504444, 45341076 & 45341077 (Delhi) & 0120-4522061, 4522071 & 4522081 (NOIDA).
In order to check flow of black money into real estate sector, Prime Minister Manmohan Singh today said stamp duty needs to be reduced, a step that realty players welcomed, stating it will bring in more transparency.
The Supreme Court Friday asked the government to consider the option of setting up a Special Investigation Team (SIT) to probe the black money stashed away by Indian citizens in foreign banks. An apex court bench of Justice B Sudershan Reddy and Justice SS Nijjar asked Solicitor General Gopal Subramaniun to get back with the government’s response by March 28.
Circular no. 36/2010-Cus dt. 23.09.2010 was issued for simplifying the procedure related to conversion of shipping bills. It was issued as a consequence of series of Tribunal judgments which held that the conversion of free shipping bills to export promotion scheme is allowed as there is no such bar in the section 149 of customs act, 1962. But this prime need is also not fulfilled by this circular. Indeed, the process of conversion of shipping bills from one scheme to another has also been made complicated. Prior to issuance of this circular, conversion from one scheme to another was freely allowed but now conversion can also be made to schemes that require equal level of examination of documents or that require lower level of examination of documents. Thus, the actual purpose of issuing this circular is mislead and has opened another door of litigation.
The Institute of Chartered Accountants of India organized a Workshop on Indirect Proposals of the Union Budget 2011-12 at its Headquarter in New Delhi on March 17,2011. The Workshop was addressed by Shri S. Dutt Majumder, Chairman, Central Board of Excise and Customs. Shri Y.G. Parande, Member, CBEC, Shri V. K. Garg, Joint Secretary (TRU), CBEC and Shri Roopam Kapoor, Officer on Special Duty, CBEC were also participated in the Workshop and interacted with the members and experts of the field of indirect taxes.
The Supreme Court has ruled that private companies cannot complain about violation of their contractual rights by government when national interest is involved in awarding contracts for public projects involving taxpayers’ massive money. A bench of justices V S Sirpurkar and T S Thakur in a judgement expressed anguish at the manner in which the Tehri Pump Storage Plant could not be taken up for the past three and half years due to the legal battle involving two MNCs–Voith GMBH (respondent No.1) and Alstom (respondent No.2).
With day-to-day living turning costlier, companies have raised salaries to as high as 40 per cent especially at the junior levels, say experts. In recent times, inflation has been at high levels due to soaring prices of essential commodities. “Inflation has affected the salary hikes towards the higher side,” executive search firm GlobalHunt’s director Sunil Goel said.
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