SEBI has reviewed the data submitted by the foreign institutional investors in pursuance of our circular no.32, dated October 16, 2008. SEBI disapproves of the activity of the foreign institutional investors lending shares abroad.
Representations were received from the trade and industry for permitting allowance of maximum permissible error on net quantity by weight declared in packages of cement. These representations were received consequent to issuance of show cause notices by the field formations to cement manufacturers, based on the sample weighment that is done as per BIS requirements
This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996,
The deletion of the addition of Rs. 33 lacs, which had been made by the Assessing Officer on account of unexplained share capital under Section 68 of the said Act. The second issue pertains to the deletion made by the Tribunal of the addition of Rs. 35,06,292/- by the Assessing Officer on account of alleged unexplained security deposits under Section 68 of the said Act.
For the purposes of trading and settlement operations, you are advised to inform the trading/clearing members of your Stock Exchange accordingly.
The Reserve Bank of India (RBI) has capped fees charged by banks for electronic payment (e-payment) and collection of outstation cheques. The move is aimed at popularising electronic payments and discouraging higher charges levied by banks on customers.
Amendment to Section 20 of the Indian Trusts Act, 1882 (2 of 1882) which relates to investment of trust money has been approved by the Cabinet today. A Bill will be introduced in the ensuing Session of Parliament.
The Principal notification was published in the Gazette of India, Extraordinary, vide Notification No.36/2001 – Customs (N.T.), dated, the 3rd August, 2001 (S.O.748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No. 112/2008-Customs (N.T.), dated, the 1st October, 2008 (S.O. 2366 (E) dated 1st October, 2008).
Accordingly the enhanced limit for investment in corporate debt shall be allocated among the FIIs on a ‘first come first served’ basis in terms of our Circular dated January 31, 2008, subject to a ceiling of US $300 million per registered entity.
The format for the information pertaining to securities lent by the FIIs to entities abroad is enclosed in Annexure A for cash securities & Annexure B for derivatives positions.
