It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories during the months of April and May 2007.
In the light of the position explained above, it is clarified that interest is chargeable on duty paid by way of debit in DEPB on goods cleared from the warehouse.The contents of this Circular may be brought to the notice of the field formations under your jurisdiction.
We have been receiving queries from authorised dealers whether such undertaking and certificate should be obtained in all cases of remittances in foreign currency to non-residents including remittances for trade payments.
A suitable Public Notice for information of the Trade and Standing Order for guidance of the staff may be issued. Difficulties faced, if any in implementation of the changes may be brought to the notice of the Board at once.
Communicate to SEBI, status of implementation of the requirements of this circular in the next Monthly Development Report.
With an objective of effective and relevant disclosure to the regulator, it has been decided that instead of filing complete CTR with SEBI, the AMCs shall only do exceptional reporting on a bimonthly basis. While the format and contents of CTR would continue,
It has come to SEBI’s notice that the Depository Participants (DPs) are operating through branch offices which are having Depository Participant Modules (DPMs) directly linked to the Depository server and branch offices.
Director General, Directorate General of Inspection – Based on the request by ADG, Directorate of Data Management, necessary inspection may be conducted of the refund section in select Customs Houses where the pendencies are high and the disposal action has not resulted in the desired action for specific action.
All field formations are requested to take note of the charter of functions of RMD and the creation of NRM / LRM Committees for effective implementation of the Risk Management System. The above instructions may be brought to the notice of all concerned.
In view of the practical difficulties being faced by the Mutual Funds in uploading the NAV of Fund of Fund Schemes on AMFI’s website and their own website it has been decided that the time limit for uploading of NAV for fund of fund Schemes shall be extended to 10:00 am the following business day.
