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The Reserve Bank of India (RBI) today placed on its website (www.rbi.org.in) the Report of the Committee to Review the Facilities for Individuals under Foreign Exchange Management Act (FEMA), 1999. The Report was submitted to the Reserve Bank of India on August 8, 2011.
The Union Government has framed new rules, viz., the Foreign Contribution (Regulation) Rules, 2011 under the Foreign Contribution (Regulation) Act, 2010 for monitoring receipt and utilization of foreign contributions by any person in the Country. Both the Foreign Contribution (Regulation) Act, 2010 and foreign Contribution (Regulation) Rules 2011 have come into effect with effect from 01.05.2011. Both the Act and the rules are available in this Ministry’s website www.mha.nic.in
Pending Trademark Disputes The number of trademark dispute applications/files, which are under opposition and pending in the various offices of the Trade Marks Registry, is as under:-
The Government has informed the Rajya Sabha that it is seized of the matter arising out of the judgement of the Supreme Court delivered on 11.05.2010 in the Civil Appeal No. 3067 of 2004 (Union of India Vs. R. Gandhi ) wherein the Court has affirmed its observations made in L. Chandra Kumar’s case (1977) 3 SCC 61 that uniformity in administration of tribunals may be brought in and there is a need of a nodal authority to oversee the functioning of tribunals and authorities set up by the Central Government.
The government is considering a proposal to extend Employees Provident Fund Scheme to all companies with over 10 employees, the Parliament was informed today. The proposal is under examination and consideration of the government, Labour and Employment Minister Mallikarjun Kharge said in a written reply.
The long pending issue of opening of multi-brand retail to foreign investment moved one more step, with the top secretaries forwarding 10 recommendations to the commerce and industry ministry on Friday. We have formally received the minutes of the Committee of Secretaries (CoS) meeting held on July 22 and appropriate decision will be taken soon, an official on the condition of anonymity said. The ministry is examining it and would take the proposal before the Cabinet soon, the official added.
Rajendra G. Shah V/s Maharashtra State Electricity Distributiohn Company Limited (Bombay High Court) -The petitioner had thus admitted even in the plaint in the suit that the premises were used exclusively for the purpose of office not only by him but were shared with another advocate principally practicing in Mumbai. In view of the fact that the suit premises are exclusively used for the purpose of office, the petitioner is not entitled to claim that he should be charged for electricity consumed at the rate meant for domestic use, i.e. LT I – Residential use. The user of the suit is clearly a non-domestic and non-residential. The executing Court below therefore did not commit any error in holding that the decree which was passed in RCS No. 194 of 2000 was non-executable in view of the fact that the revised tariff had been fixed by the MERC which make the classification of the tariff only on the basis of domestic and non-domestic uses and not on the basis of residential use as opposed to commercial use.
These rules may be called the Competition Commission of India (Form and Time of Preparation of Annual Report) Amendment Rules, 2011. They shall come into force from the date of their publication in the Official Gazette.
ICSI is pleased to inform that the Ministry of Corporate Affairs vide its General Circular No. 58/2011 dated 01.08.2011 has now modified clause (c) of General Circular no. 54/2011 dated 26.07.2011 providing that in each case the Official Liquidator will file an application praying to the Court to direct the management of the company to submit following information duly verified by a Company Secretary in Practice besides other professionals:
Complainant is free to file fresh complaints on the Ministry’s website – www.mca.gov.in/MCA21/, in respect of the unresolved complaints filed earlier on the website- www.investorhelpline.in. Further, the members of the public are informed that henceforth they may file their grievances online on the Ministry’s website – www.mca.gov.in/MCA21/. The filing of the grievances on this website does not require any registration. The user would be required to file his/her grievance through an e-form, which would capture his/her relevant details.
