The government plans to relax the contiguity norms for special economic zones, a move that will benefit developers of zones such as Navi Mumbai SEZ in Maharashtra and Iffco Kisan SEZ in Andhra Pradesh. The existing guidelines, which stipulate continuity within SEZs, would have forced developers to invest in building bridges and flyovers over railway lines or water bodies falling within such zones, even if they are located in the non-processing areas where there is no production activity.
Market regulator SEBI has asked the mutual fund (MF) houses to submit reports, pertaining to compliance with a recent rule that dividends be paid only from realised gains and not premium income, by June 17.
If the market regulator Securities and Exchange Board of India (Sebi) has its way, persons investing in mutual funds must have their own demat accounts. Sebi has sought suggestions on this issue from the Association of Mutual Funds in India (Amfi) which are to be provided by June 15.
Hit hard by the mass exodus of investors, amounting to an average of over 1 lakh a month, the mutual fund houses are knocking on the doors of Sebi, which in turn, is mulling over possible remedial actions including an expanded distribution model for these investment products.
If you are a Mahindra Satyam investor and eagerly awaiting their results by the end of this month then you may have to wait a bit longer. Mahindra Satyam has applied to the Company Law Board seeking an extension for financial restatement till September 30.
Aided Schools heading for a closure. Education Policies of the Maharashtra Govt. The Right of Children to Free and Compulsory Education Act 2009.[ RTE Act ]. SERIOUS NEED FOR REVIEW. I writing this article I make a presumption that school education is an important subject for the State and central Govt. I fear to prove myself otherwise. Since we are professionals let me make a point wise presentation.
Government Infuses Total Sum of Rs. 8911 Crore During the last Four Months, the Highest Capital Infusion in the Public Sector Banks in Recent Times. As part of the budgetary promise to provide a sum of Rs.16,500 crore to ensure that the Public Sector Banks are able to attain a minimum 8 per cent Tier-I capital by March 31, 2011, the Government today approved infusion of Rs. 6211 crore in five Public Sector Banks.
A fashion designer is an artist, insisted Tarun Tahiliani’s lawyers before the Bombay HC on Friday. The court has been called upon to decide whether fashion designers are eligible for I-T exemption available to artists. “Designing a garment or jewellery is the work of an artist. The designer conceptualises the work, uses his creative skills,’’ said his lawyers.
The Pune ROC has over 21,000 companies registered under it The scheme Company Law Settlement Scheme, 2010, gives an opportunity to the defaulting companies to submit the required documents, get concession in the fine and become a regular compliant in future. On the other hand, the Easy Exit Scheme, 2010, gives an opportunity to the defunct companies to get their names struck off the register under Section 560 of the Companies Act, 1956.
In the year ahead, we have a tough task before us. We have to achieve a budget collection target of Rs.4.30 lakh crore. The FM in his speech yesterday had implied and hoped that the direct tax collection will exceed its Budget Estimates. However, I shall be direct and urge all of you to take all necessary steps for not only realizing, but exceeding the B.E. Exceeding our collection targets will be a form of thanksgiving to the FM for the benevolence and encouragement shown towards this Department. “
