The Reserve Bank has said the country will continue to move towards capital account convertibility that would provide unfettered freedom to local entities to exchange the rupee with other currencies, after drawing lessons from the global financial crisis.
Market regulator SEBI today debarred one Chandrakant Amratlal Parekh from dealing in the stock market for one year for his alleged involvement in cornering shares meant for retail investors of Suzlon during its IPO.
The market watchdog Sebi today moved the Supreme Court challenging the decision of the appellate tribunal SAT that held that financial investors like PEs and VCs do not acquire controlling stake in a company by just picking up more equity.
Sebi on Thursday asked mutual fund houses to disclose the details of investor complaints on websites, as well as in annual reports, to enable clients to make more informed decisions.”Mutual Funds shall henceforth disclose on their websites, on the AMFI website as well as in their Annual reports, details of investor complaints received by them from all sources,” the Securities and Exchanges Board of India said in a circular.
Sunil Chandiramani, Partner and National Director-Advisory Business Leader-Government Services, Ernst & Young (E&Y), with a team of 15 people is busy with India’s most ambitious programme of providing a unique identification (UID) number to residents of India.
In view of Customs readiness to accept online transmission of DES (Advance Authorization), EPCG and DEPB authorizations at the following 9 ICES 1.5 new locations, all RA’s of DGFT may note that for all the newly added ports, aforesaid authorizations issued w.e.f. 17.5.2010, will be communicated online to Customs for necessary processing at their end. It may also further be noted that for all DEPB Shipping Bills issued w.e.f. 17.5.2010 from these ports, application will have to be filed mandatory in EDI mode:
The Union finance minister had introduced the Finance Bill, 2010 in the Lok Sabha on February 26, 2010 and proposed to tax 8 new services. On May 8, 2010, the President gave her consent to the Finance Bill and thus the Finance Act, 1994 (14 of 2010) has come into effect from that date. SERVICE TAX IS BEING IMPOSED ON THE FOLLOWING SPECIFIED SERVICES:
RPCD.CO.RF.AML.BC. No. 84/07.40.00/2009-10, May 14, 2010 Government of India vide its Notification No. 7/2010-E.S.F.No.6/8/2009-E.S dated February 12, 2010 has amended the Prevention of Money-Laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005. A copy of the Notification is enclosed for ready reference.
Notification No.63/2010-Customs Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.96/2008-Customs, dated the 13th August, 2008 which was published in the Gazette of India, Extraordinary, vide number G.S.R. 590 (E), dated the 13th August, 2008, namely
The Challenge to the NCLT & NCALT: The five-judge Constitution Bench of the Supreme Court of India Justice KG Balakrishnan, Justice RV Raveendran, Justice DK Jain, Justice P Sathasivam and Justice JM Panchal has delivered its judgment on the legality of the constitution of National Company Law Tribunal and National Company Law Appellate Tribunal under the Companies Act, 1956 through Companies (Second Amendment) Act, 2002.
