A reference is invited to Section 6 (1)(f) of the Banking Regulation Act (B.R. Act), 1949 (AACS), in terms of which banks may also engage in managing, selling and realizing any property which may come into its possession in satisfaction, or part satisfaction, of any of its claims.
Refund audit of previous period: To become eligible under this Trade Circular, at least one refund audit of the claimant dealer should have been completed in respect of at least one previous period. This condition will however be not applicable to the newly registered dealers for refund claim of first year.
market adjustments based on the underlying closing prices of the costliest security from the deliverable basket shall be charged on both buying client and selling client.
Attention is invited to Section 86 & 107 of the Finance Act, 2009 vide which amendment with effect from 1st July, 2003 has been carried out under Section 130 of the Customs Act, 1962 and Section 35G of the Central Excise Act, 1944 respectively to the effect that the High Court may admit an appeal after the expiry of the period of one hundred and eighty days if it is satisfied that there was sufficient cause for not filing appeal within the stipulated period. Similarly,
Representations have been received from the Marine Sector that they are unable to fully utilize the benefits granted under the abovementioned schemes. Accordingly, in consultation with Department of Revenue (Ministry of Finance).
On for import of sports weapons by ‘Renowned Shooters’ shall be made to the concerned RA of DGFT. The list of RAs of DGFT along with their addresses and jurisdiction has been provided in Appendix 1 of HBPv1. A copy of this Appendix is available on DGFT website at www.dgft.gov.in.
Attention is invited to Notification No. 88 dated 26.2.2009 and the Policy Circular No. 77 dated 31.03.09 on the above subject and to inform that the provision at Sl. No. 3(c) of the said circular stands amended as follows.
On September 21, 2007 banks were advised, vide our circular RPCD.PLNFS.No 3068 /06.02.31/2007-08, that they may extend collateral-free loans upto Rs. 5 lakh, to all newloans sanctioned to the units of MSE sector (both manufacturing and services enterprises) as defined under MSMED Act, 2006.On September 21, 2007 banks were advised, vide our circular RPCD.PLNFS.No 3068 /06.02.31/2007-08, that they may extend collateral-free loans upto Rs. 5 lakh, to all newloans sanctioned to the units of MSE sector (both manufacturing and services enterprises) as defined under MSMED Act, 2006.
Representations have been received from the Trade and the field formations seeking waiver of pre-authentication of the pass-out documents by the departmental officers as prescribed in Para 3.2(iv) of Board’s Circular No. 569/6/2001-CX dated 09.02.2001 issued from F.No.204/01/96-CX6.
All registered merchant bankers are advised to ensure compliance with this circular including the amendments contained in Annexure I of this circular.
