The Stock Exchanges are advised to report to SEBI, the action taken in this regard in Section II, item no. 13 of the Monthly/Quarterly Development Report.
It has been brought to our notice that some banks are collecting third party account payee cheques on behalf of co-operative credit societies who are their constituents. While reiterating that such practice of collection of third party cheques is not permissible, in order to facilitate collection of cheques from the payment system angle, account payee cheques deposited with the sub-member for credit to their customers’ account can be collected by the member bank (referred to as the sponsor member) of the Clearing House.
Your attention is invited to Policy Circular No. 2/2009-2014, dated 27.08.2009 on the subject mentioned above issued by this office. In this regard, it is stated that the expression sports weapons wherever occuring in the Policy Circular referred to above may be read as sports weapons and ammunitions for sports weapons.
The remaining limit for investment in Government debt shall be allocated among the FIIs/sub-accounts on a first come first served basis in terms of SEBI circular dated January 31, 2008, subject to a ceiling of Rs. 249 Cr. per registered entity.
CIRCULAR NO. 24/2009-Cus F.No.609/09/2008-DBK Government of India Ministry of Finance Department of Revenue Central Board of Excise & Custom New Delhi, the 3rd September, 2009 To All Chief Commissioners of Customs All Chief Commissioners of Customs & Central Excise All Commissioners of Customs /Customs (Preventive)/ Customs & Central Excise/Central Excise DG, CEIB, New Delhi DGRI/DGCEI/DG […]
Please refer to our Master Circular RBI/2009-10/56 IDMD.PDRS. 01/03.64.00/2009-10 dated July 1, 2009 on Operational Guidelines to Primary Dealers, in terms of which, Primary Dealers (PDs) are allowed to borrow from call/notice money market, on an average in a reporting fortnight, up to 200 percent of their Net Owned Funds (NOF) as at the end March of the preceding financial year.
The Securities and Exchange Board of India (Sebi) has allowed pricing of employee stock options (ESOPs) on the Black-Scholes model or a Binomial model. This model uses an option-racing model that takes into account, as of the grant date, the exercise price and expected life of the option.
Companies will have to bear interest on any cenvat credit wrongly taken even if it is not utilised, according to the Central Board of Excise and Customs, the apex indirect tax body. Cenvat credit is the set-off for levies paid on inputs. In other words, for every rupee of service tax or manufacturing tax (excise duty) paid by the company on inputs, it earns a credit that can be used against setting off its liability.
A reference is invited to our Master Circular RBI/2009-10/56 IDMD.PDRS. 01/03.64.00/2009-10 dated July 1, 2009 on Operational Guidelines to the Primary Dealers (PDs) prescribing, inter alia, the minimum Net Owned Funds (NOF) of Rs.50 crore for non-bank stand-alone PD and Rs.100 crore in case the PD intends to diversify into other permissible activities.
Please refer to our Master Circular RBI/2009-10/56 IDMD.PDRS. 01/03.64.00/2009-10 dated July 1, 2009 on Operational Guidelines to Primary Dealers, in terms of which, Primary Dealers (PDs) are allowed to borrow from call/notice money market, on an average in a reporting fortnight, up to 200 percent of their Net Owned Funds (NOF) as at the end March of the preceding financial year.
