It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories. Towa Sokki Limited, Atreya Petrochem Limited, The Chemo-Pharma Laboratories Limited, Associated Fin Lease Limited, Hindoostan Mills Limited, Naisargik Agritech (India) Limited, Asianlak Capital And Finance Limited, Thyrocare Laboratories Limited, Moryo Industries Limited, Vivo Bio Tech Limited
Considering the specific needs of the micro finance sector, the existing External Commercial Borrowings (ECB) policy has been reviewed in consultation with the Government of India and it has been decided that Micro Finance Institutions (MFIs) may be permitted to raise ECB upto USD 10 million or equivalent during a financial year for permitted end-uses, under the Automatic Route.
SEBI (Debenture Trustee) Regulations, 1993, allow DTs to incorporate additional clauses in the trust deed provided that these clauses do not dilute or contravene the provisions of the clauses specified in the Schedule-IV of the said Regulations. However, it has been observed during inspections that certain clauses are included in the trust deed that limit or extinguish the obligations of DTs in relation to any rights or interests of investors or are in conflict with the provisions of the Regulations. It may be noted that such clauses in the existing or new trust deeds shall not be applicable and shall stand null and void.
CIRCULAR NO 149/18/2011-ST So far Service Tax Refund (STR) was made available to exporters (other than SEZ Units/Developers) on specified services used for export of goods covered in Notification 17/2009-ST dated 07.07.2009 (as amended) subject to certain conditions. In this connection, Honourable Finance Minister, had stated in his Budget Speech that
last date for filing form DIN-4 by DIN holders for furnishing their Income tax PAN and to update Income- tax PAN details has been extended up to 29th February, 2012. For details kindly see General Circular No: 70/2011 given below:-
Last date for availing benefit under Company Law Settlement Scheme (CLSS), 2011 has been extended up to 15th January, 2012. It is further stated that this Scheme will not be extended beyond 15th January, 2012. For details kindly see General Circular No: 71/2011 available on MCA portal under News & Events and under heading Act, Bills and Rules.
Keeping in view the developments in the foreign exchange market, it has been decided by RBI to implement the following measures with immediate effect until further review. i. Under contracted exposures, forward contracts, involving the Rupee as one of the currencies, booked by residents to hedge current account transactions, regardless of the tenor, and to hedge capital account transactions, falling due within one year, were allowed to be cancelled and rebooked.
Merchant Bankers/Registrars to An issue and Share Transfer Agents/Debenture Trustees/Bankers to An Issue/Underwriters/Credit Rating Agencies/Mutual Funds/Portfolio Managers/Venture Capital Funds/Collective Investment Schemes/Custodians
Circular No. 148/17/2011 – ST dated 13.12.2011: CBEC has clarified the taxability of profit/revenue sharing arrangement in case of distribution of films and exhibition of movies in the following manner:i. Where the arrangement between the distributor/sub-distributor/area distributor and the movie exhibitor/theatre owner in exhibiting the film produced by the producer (the original copyright holder) is on principal to principal basis, service tax liability would be as under:
As a measure of customer service and in order to facilitate the operational convenience, it has been decided to delegate the powers to the Regional Offices of the Reserve Bank of India mentioned below to compound the contraventions of FEMA involving (i) delay in reporting of inward remittance, (ii) delay in filing of form FC-GPR after allotment of shares and (iii) delay in issue of shares beyond 180 days (viz. paragraphs 9(1)(A), 9(1)(B) and 8, respectively, of the Schedule I to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000, notified vide Notification No. FEMA 20/2000-RB dated 3rd May 2000 and as amended from time to time:
