It has been decided to allocate a quantity of 8,500 MTs ( Eight thousand five hundred MTs ) of Raw sugar out of free sale portion of 2002-2003 ( October 1, 2002 to September 30, 2003 ) season’s production for export to USA as a Preferential Raw Cane sugar Tariff Rate quota for the fiscal year 2003 (October 1, 2002 to September 30, 2003 ) and place the same at the disposal of M/s Indian Sugar Exim Corporation Ltd., New Delhi.
System for online transmitting the client wise pay-in obligation to depository so that the depository in turn could download the security pay-in instructions to depository participants in respect of the investor maintaining account with them.
The total exposure of the portfolio client in derivatives should not exceed his portfolio funds placed with the portfolio manager and the portfolio manager should basically invest and not borrow on behalf of his clients.
It must be ensured that the market verifications are not resorted to in a routine manner and should be undertaken only on the basis of information/intelligence and/or prima-facie evidence which should be first recorded and, thereafter, orders of Additional Commissioner/Joint Commissioner or in their absence Commissioner’s be obtained to do market verification. Administrative authorities should also ensure that market verifications are expeditiously concluded and no harassment is caused to the Trade nor are any exports held up.
According to Regulation 33(3) of SEBI (Mutual Funds) Regulations 1996, the units of a close ended scheme may be converted to open ended scheme, if the offer document of such scheme discloses the option and the period of such conversion or the unitholders are provided with an option to redeem their units in full.
directed to forward herewith a copy of the Companies (Second Amendment) Act, 2002 (No.11 of 2003) published in the Gazette of India (Extraordinary) on 14th January, 2003 for your information and necessary action.
In terms of Para 2.56 of Handbook of Procedure, Vol. I of 2002-2007 EXIM Policy, in cases where the exporter is denied benefit of one export promotion scheme by Customs or DGFT, he is permitted to avail benefit of another export promotion scheme provided otherwise he is entitled to the benefit of such scheme. DOR has issued couple of Circulars in the past in terms of which conversion of free shipping bill into drawback shipping bill or Advance License shipping bill into old Pass Book shipping bill etc. is permitted subject to fulfillment of specified conditions.
Constitution of an Advisory Committee to be called the National Advisory Committee on Accounting Standards under section 210A(1) of the Companies Act, 1956.
Companies have approached the department and courts for refund of the excess registration fees paid by them on account of the said anomaly.
Commissioner of Customs (Preventive), New Delhi has brought a case of misuse of Duty Drawback Scheme where the exporters tried to avail benefits of Drawback Scheme by misdeclaring export goods as ‘leather harness’ whereas on an actual examination the consignments were found to contain rags of leather hunters/whips on which no drawback is admissible. This case has been made by Preventive Commissionerate at ICD, Patparganj and another container of the same intelligence has been detained at Nhava Sheva for investigation.
