Depositories are also required to put up systems to facilitate settlement of transactions by the Clearing House / Clearing Corporation arising out of securities lending and borrowing to meet shortages of pay-in obligations.
The Custodians shall issue instructions in the physical form upto 4 p.m. and in electronic form upto 6 p.m. on T+1 to the DPs for pay-in of securities.
The matter has been examined and it is clarified that exports by EOUs and units in SEZs shall be governed by examination norms, as applicable for EPCG/DEEC schemes, prescribed in para 2.1 (D) of the Circular No. 6/2002-Cus. dated 23.1.2002. However, if the export consignment of EOUs or SEZs unit has been sealed by Customs/Central Excise Officer, the norms at para 2.1 (A) of the said Circular will apply. The norms prescribed in para 2.1(B) of the said Circular for exports under ‘free shipping bill’ is applicable to only those exports which are not under any export promotion scheme.
Circular No. 697/13/2003-CX I am directed to say that instances have been reported to the Board where in respect of commodities notified under Section 4A of the Central Excise Act, 1944 goods are sold only against refundable deposits or against deposit of an empty bottle, container or jar. As for example in the case of sale of soft drinks the soft drink bottle is being sold at the printed MRP only if the buyer leaves some cash deposit for safe return of the bottle or he deposits before hand an empty bottle of the particular brand.
Circular No.695/11/2003-CX I am directed to refer to clauses (1) and (2) of Board’s Circular No.572/9/2001-CX dated 22.02.2001 which interalia provides that in cases where the Department has filed Special Leave Petition/Civil Application along with stay application against the adverse order of High Court/CEGAT as the case may be, no unilateral action should be taken by the Commissioners to release goods/order refund and decision in such cases where stay order is not forthcoming, should be taken only in consultation with the Board. In this connection
The request made by some Companies, particularly companies engaged in production of steel to prescribe an appropriate method, to make provision for depreciation based on unit of production rather than straight line or written down value method has been engaging the attention of the Department for quite some time.
If any document other than Bye Laws / Rules / Regulations is sent for approval, the justification and need for forwarding same to SEBI, indicating whether it forms a part of any Bye Law or Rule or Regulation.
Pursuant to the above Securities and Exchange Board of India (Delisting of Securities) Guidelines 2003, has been issued (Copy enclosed). These guidelines shall come into effect immediately.
There have been representations from the trade that since the procedure of application and issuance of brand rate letters under Rule 7 involves one to two months, they remain out of funds and face financial difficulties.
The trade has however been representing that on occasions it becomes difficult to resolve the composite article into its constituent components and the only alternative is to break the article. This results in wastage of the products and also the exporters are asked to go for laboratory testing to ascertain the composition of individual materials.
