CIRCULAR NO-2/2008-Income Tax Securities and Exchange Board of India (SEBI) vide circular No.-MRD/DoP/SE/Dep/ Cir14/2007 dated 20/12/2007, has decided to permit all classes of investors (individuals, institutional, etc.) to short sell. Further, with a view to provide a mechanism for borrowing of securities to enable settlement of securities sold short, SEBI has also decided to put in place a full-fledged Securities Lending and Borrowing (SLB) Scheme for all market participants in the Indian securities market under the overall framework of “Securities Lending Scheme”, 1997″ of SEBI (Circular No.SMD/Policy/ SL/CIR-09/ 97 dated May 07, 1997).
.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 month of November 2007
The undersigned is directed to refer to Circular No. 752/68/2003-CX dated 01.10.03 (as amended) on the above subject. This circular prescribes monetary limits of Central Excise Officers at various levels for adjudicating of cases under sections 11A and 33 of Central Excise Act, 1944.
There is no need to specify the agencies whose certificates alone, issued at the port of loading, would be accepted. The number of such agencies should not be limited.
RA shall grant the benefits using Focus Product Scheme Code 45, upon submission of such application from exporters of Handloom Products. Any one of the export documents passed by Customs which bears Handloom Mark Label Numbers should be acceptable as proof for grant of benefits under the scheme.
The matter has been considered in this office. It would be evident from paragraph 4.20.1 that the said facility is available for clubbing of more than one authorization provided the imported inputs are properly accounted for as per norms. Accordingly, it is clarified that as long as imported inputs (for which clubbing has been sought) are same, the facility of clubbing would be available for closure of the authorisations irrespective of the fact that the export products are different.
.In consultation with RBI, it has now been decided to extend the facility of refund through ECS in public/rights issues to 68 centers. List of these 68 centers as provided by RBI is enclosed at Annexure I.
In consultation with RBI, it has now been decided to extend the facility of refund through ECS in public/rights issues to 68 centers as provided by RBI. List of these 68 centers is enclosed at Annexure I.
.This circular is being issued in exercise of the powers conferred under sub-section (1) of Section 11 of the Securities and Exchange Board of India Act, 1992.
All FII transactions in debt-oriented mutual fund units which were previously reported as Equity transactions should be reported as debt on February 15, 2008, through the existing reporting system.
