SEBI Circular No. CIR/MIRSD/13/2011 , – SEBI has commenced processing of investor complaints in a centralized web based complaints redress system ‘SCORES’. The salient features of this system are: Centralized database of all complaints., Online movement of complaints to the concerned intermediaries, Online upload of Action Taken Reports (ATRs) by the concerned entities, and Online viewing by investors of action on the complaints and its current status.
A.P. (DIR Series) Circular No. 07 Export-Import Bank of India (Exim Bank) has concluded an Agreement dated July 26, 2010 with the Government of the Co-operative Republic of Guyana, making available to the latter, a Line of Credit (LOC) of USD 4 million (USD four million) for financing eligible goods, services, machinery and equipment including consultancy services to be exported from India for the purpose of acquiring, installing and commissioning of fixed and mobile irrigation pumps in Guyana. The goods, services, machinery and equipment including consultancy services from India for exports under this Agreement are those which are eligible for export under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this Agreement.
SEBI receives complaints from investors against stock brokers which include alleged unauthorized trading in their accounts. SEBI has taken steps in the past to address this issue. As an additional measure, it has now been decided in consultation with the major stock exchanges and market participants that the stock exchanges shall send details of the transactions to the investors, by the end of trading day, through SMS and E-mail alerts. This would be subject to the following guidelines:
Cir/ IMD/ DF/12 /2011 This refers to circular SEBI/IMD/CIR No. 14/151044/09 dated January 19, 2009 regarding indicative portfolio and yields in mutual fund schemes. It was mentioned that mutual funds shall not offer any indicative portfolio and indicative yield and that no communication regarding the same in any manner whatsoever, shall be issued by any mutual fund or distributors of its products.
References were received that divergent practices were being followed by field formations regarding classification of Chlorinated Paraffins/Chloroparaffins. It was stated that against the long and & existing practice of classification of the said goods under Chapter 38 of Central Excise Tariff, some field officers were classifying them under Chapter 27 during the period prior to Budget 2010.
In each case the OL will file an application praying to the Court to direct the management of the company to submit following information duly verified by a Chartered Accountant/a Company Secretary/a Cost Accountant in practice: Now in case of winding up, the CS, ICWA may also verify the information
Circular No. 33/2011-Customs – In order to reduce the transaction cost of the importers and expedite the time taken for customs clearance the Board has decided to make e-payment of duty mandatory for the importers paying an amount of Rupees one lakh or more per transaction. Additionally, for Accredited Clients under the Customs Accredited Client Programme irrespective of any amount of duty, the Customs duty will have to be paid through E- payment mode only. The date from which the E- payment will be made mandatory will be notified separately.
CIR/IMD/FIIC/11/2011 Based on the assessment of the allocation and the utilization of the limits to FIIs for investments in debt, it has been decided to allocate the unutilized limits in Government debt long term in the following manner:- 2. Allocation through bidding process: The bidding for these limits shall be done on the BSE from 15:30 hrs to 17:30 hrs, on August 05, 2011, in terms of SEBI circular IMD/FII&C/37/2009 dated February 06, 2009, subject to the modifications stated below:-
MCA draft circular proposes ban on gifts at AGMs, allowing only light refreshments and treating violations as misconduct under corporate governance norms.
All companies falling in Phase-I class of companies (excluding exempted class) are permitted to file their financial statements without any additional fee up to 30.11.2011 or within 60 days of their due date, whichever is later.
