Relaxation in the norms relating to infrastructure lending and 70 per cent loan loss coverage ratio are likely to top the agenda when bankers meet Reserve Bank of India on January 14, ahead of the quarterly policy review. “Banks will press their demand to relax the norms on infrastructure lending. They may also ask for some easing in the guidelines announced for banks to augment their loan loss coverage ratio to 70 per cent,” Indian Banks’ Association chief executive, K Ramakrishnan told PTI in Mumbai.
Various kind of meetings are conducted in a Company as required under the provisions of Companies Act, 1956 and other corporate regulations, and it is also not a difficult issue to deal with the various kinds of meetings too. A new Company may have to conduct a statutory meeting and every company may have conduct Board Meetings, Annual General Body Meeting and Extraordinary General Body Meeting. Besides these meetings as specifically referred to in the Companies Act, 1956, a Company may have to conduct meetings upon the orders of Company Law Board and the Company Court at times.
The ice freezing waves of recession had frozen the prospects of Indian industrial growth after September 2008.Indian industries have to cut short production, rescheduling the production, stopped investments in new projects and finally followed the gate of retrenchments. No vacancy was the song being played on the streets of Indian corporate houses.
The 3rd quarter results are all set to get out from the second week of January. Lot of predications and calculations as well as bets are being held on different sectors prospects. In this article I will like to dig out the invisible facts, trends and insight which we will provide us some light inside the deep fog of 3rd quarter results.
Most likely, Monday, January 4th 2010 is when you would have recovered from the new year celebrations and the weekend that follows. It will also be the day when Indian stock markets first open at 9 am. The leading association of brokers, Association of National Exchanges Members of India (ANMI), has made a last ditch attempt to stick to the current timings. But the stock exchanges have reiterated that markets would open 55 minutes earlier. Given the keen competition, they are vying to garner as much volumes for themselves as possible.
A public prosecutor representing the state in criminal cases need not divulge details of the legal opinion given to the government as it is privileged communication, the Madras High Court has ruled. In a similar case Supreme Court said that a judge could not be asked under the Right to Information (RTI) Act as to how and why he came to a particular conclusion in a judgment.
Can a judge be asked under the Right to Information (RTI) Act as to why and how he came to a particular conclusion in a judgment? No, says the Supreme Court. The apex court saw the mischief potential of queries under the RTI Act in relation to a judge and his judgments and a Bench comprising Chief Justice K G Balakrishnan and Justice B S Chauhan firmly said that a judge speaks through his judgments and he could not be made to answer questions relating to his verdict in a case.
Preparations for Finance Minister Pranab Mukherjee’s second full Budget under the Manmohan Singh government should be an area of interest for a variety of reasons. His first Budget was presented in July 2009 under trying circumstances, with the Indian economy struggling hard to tide over the impact of a global economic downturn. His second Budget, to be presented in less than eight weeks from now, will have a different set of challenges.
Writing off the Inputs and Capital Goods for the stock account purpose in the books of accounts and reversal of CENVAT Credit has always been a matter of dispute between the assessees and the departmental authorities. This issue was clarified with the introduction of the Circular No. 645/36/2002-CX.,dated 16-7-2002 which has been explained in detail in this article. This issue was there, as it is. unresolved in its entirety and a new issue arose relating to the CENVAT burden in case of “Writing Off” of WIP and Finished goods in books of accounts. We in this article have made an endeavor to elucidate the issues relating to such “writing off” of value of goods and the CENVAT burden thereon.
The Indian automobile industry is performing with a consistency cap on its head. It has again plucked off another feather to decorate its growth hat. The automobile sector in India surprisingly did well and outperformed our expectations in terms of sales growth during 2009.When the western economies were struggling to survive their big auto giant’s Indian economy propelled to the path of growth on strong growth of auto sector in India.
