Vasudevan, who was director investigation and inspection ministry of corporate affairs before joining the CLB three months ago, was looking into high profile cases like the Satyam and the Sesa Goa fraud. “No we don’t need to relook, it is the SFIO that has done the investigation, in the beginning it was done at the level of Regional Director and Registrar of Companies and then it was taken over by the SFIO, so I don’t think we need to worry at all…,” Corporate Affairs Minister Salman Khurshid said.
Hon’ble Shri R.V. Easwar, Judicial Member, has been elevated as Senior Vice President and posted to the Mumbai Bench of the Tribunal with effect from 25th November 2009. Shri. Easwar has qualified as LLM and ACA and practised as a lawyer from 1975 to 1991 in Chennai. After his elevation to the Bench in 1991, he has served the Kolkota, Mumbai, Delhi and Bangalore Benches. He has been a party to several landmark judgements such as Mid East Portfolio 87 ITD 537 (Mum) (SB), Lalsons Enterprises 89 ITD 26 (Del) (SB) and Kanel Oil (Ahd) (TM).
Speaking on the occasion, Dinesh Kanabar, PwC tax leader, India said, It is a tremendous achievement and we are delighted to receive this award. The award is in recognition of our commitment towards partnering with our clients in one of the most difficult years of our time. He added, Our global experience of working with a diverse client base spread across economies has helped us gain new perspectives and develop inventive solutions.
India’s National Stock Exchange (NSE) will allow brokers to buy and sell mutual funds through its terminals from Nov. 30, the exchange said. The Securities and Exchange Board of India had earlier in the month permitted stock exchanges to offer their infrastructure for fund transactions, giving money managers access to more than 200,00 terminals in over 1,500 towns.
Reserve Bank of India (RBI) vide its Master Circular dated July 1, 2009 has advised all Scheduled Commercial Banks (excluding Regional Rural Banks) that all cheque forms would be printed in Hindi and English. The customer may, however, write cheques in Hindi, English or in the concerned regional language.
We take the pleasure in announcing that CDSL Ventures Ltd., a wholly owned subsidiary of Central Depository Services (India) Limited (CDSL), has designed an electronic voting system as an alternative to the paper-based postal ballot process, to facilitate voting on company resolutions. This system was inaugurated on November 17, 2009 by Hon’ble Minister Shri Salman Khurshid, Ministry of Corporate Affairs.
To encourage foreign portfolio investment, the Finance Ministry has set up a working group for suggesting changes in the existing policy on foreign capital inflows by FIIs, NRIs and venture capital funds. The 16-member group on portfolio investments, to be headed by UTI MF CMD U K Sinha, will also review the current arrangements relating to participatory notes– instruments through which unregistered foreign entities invest in Indian stock markets, sources said.
The results of CPT online examination held on 24th and 25th October 2009 has been declared on 24th November 2009.
“The German Tax authorities have provided to the Indian Government information available with them regarding accounts concerning Indian nationals with the LGT Bank of Liechtenstein…Assessments have been reopened under the Income Tax Act, 1961 in all these cases,” said the Minister of State for Finance, S S Palanimanickam, in a written reply to the Rajya Sabha.
Dr. Subir Vithal Gokarn has today taken over as the Deputy Governor of the Reserve Bank of India.Dr. Gokarn has been appointed Deputy Governor for three years from the date of his taking over. He will be the fourth Deputy Governor, the other three being Smt. Shyamala Gopinath, Smt. Usha Thorat and Dr. K.C. Chakrabarty. As Deputy Governor, Dr. Gokarn will look after the Monetary Policy Department, Department of Economic Analysis and Policy, Department of Statistics and Information Management, Department of Communication and Deposit Insurance and Credit Guarantee Corporation. Dr. Gokarn will also represent the Reserve Bank at the G-20 Deputies’ forum.
