Accordingly, a standard format of the letter of offer alongwith the general instructions/guidelines has been prepared and enclosed. The said format is also available on SEBI’s web site at www.sebi.gov.in.
Amendment of Notification No. S.O. 219(E) dated 23.2.2004 – “State Industrial Development Corporation of Maharashtra Limited” has been replaced by “SICOM Limited.
In continuation of Policy Circular No. 9(RE-2004)/2002-2007 dated 30.6.2003 and No.15(RE-2004)/2002-2007 dated 17.9.2003. whereby import of approved and unapproved drugs were allowed without the requirements of registration procedure under the Drugs and Cosmetics Act.etc., it is further clarified that the import of bulk drugs in terms of Para 4.2.7 of the EXIM Policy,2002-07 is allowed without the requirement of manufacturing site registration and import licence as required under Ministry of Health Notification No.GSR 604(E) dt. 24.8.2001.
Bring the provisions of this circular to the notice of the member brokers/clearing members and listed companies of the Exchange and also to disseminate the same on the website.3.3 communicate to SEBI.
I am directed to refer to Circular No. 704/20/2003-CX dated 31.3.2003 on the subject mentioned above. The circular has been set aside by the Hon’ble High Court of Karnataka in the case of M/s Grasim Industries Ltd. [2004 (163) ELT 10 (Kar.)].
I am directed to say that Board’s attention has been drawn to treatment of CENVAT credit balance lying unutilized at the end of the financial year in Income Tax returns by the manufacturers of excisable goods which would provide possibility of availing unintended double benefit both under Central Excise and Income Tax law.
This circular is being issued in exercise of powers conferred by section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with section 10 of the Securities Contracts(regulation) Act 1956, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Vide order dated 24th September 2003, the Hon’ble Apex Court has at page 15 of the order allowed a time period of 12 months for upgradation of Customs laboratories at gateway ports as well as posting of manned staff. Action has been initiated by C.R.C.L. in this regard.
In this regard, you are advised to note that circulars pertaining to amendments to SEBI (Disclosure and Investor Protection) Guidelines, 2000 would henceforth be issued only in electronic form with digital signatures in conformity with the information Technology Act, 2000 and that physical dispatch of circulars would be discontinued.
The Stock Exchanges shall clear and settle the trades on a sequential basis i.e., the pay-in and the pay-out of the first settlement shall be completed before the commencement of the pay-in and payout of the subsequent settlement/s.
