It has been observed that SEBI registered FVCIs making investments in an Indian Company under FDI Scheme in terms of Schedule 1 of Notification No. FEMA.20 / 2000 – RB dated May 3, 2000, as amended from time to time, also report the same transaction under Schedule 6 of the Notification ibid, resulting in double reporting of the transaction.
Attention of AD Category-I banks is also invited to A.P.(DIR Series) Circular No.94 dated April 1, 2013 in terms of whichthe present limit for investments by FIIs, QFIs and long term investors in Government securities and for corporate debt stood at USD 25 billion and USD 51 billion respectively.
n exercise of the powers conferred by sub-section (1) of Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby, makes the following regulations,
The Committee recommended that the requirement of submitting personal identification documents such as copy of passport, photograph etc. of the designated officials of FPIs belonging to Category I and Category II shall be done away with. SEBI would separately prescribe the documentation needed for the three categories.
Reference has been received regarding the application of the threshold limit prescribed vide Instruction ibid to cases where either redemption fine alone is in dispute or both redemption fine and penalty are in dispute. For example, in one case the Tribunal confirmed the duty but set aside the penalty of Rs. 5 lakhs and redemption fine of Rs. 15 lakhs imposed by the adjudicating authority.
Notification No. 43/2013 – Income Tax SO 924(E) – Whereas an Agreement (hereinafter referred to as the said Agreement) between the Government of the Republic of India and the Government of the Principality of Monaco for the exchange of information relating to tax matters was signed at Monaco on the 31st day of July, 2012 ; And whereas, the date of entry into force of the said Agreement is the 27th day of March, 2013, being the date of later of the notifications of completion of the
In excise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC) hereby makes the following further amendments in the Notification of the Government of India, Ministry of Finance
To the existing authorised laboratories, two additional laboratories are added for purpose of certification/grading of diamonds of 0.25 carats & above. (xvi) International Gemological Institute (IGI) – Antwerp, Belgium; (xvii) International Gemological Institute (IGI) – Hong Kong.
Introduction of Basic Savings Account under Post Office Savings Account Rule 1981 to facilitate opening of Zero Balance Accounts by beneficiaries of any Government Welfare Scheme-regarding.
The said Regulations provide for a comprehensive regulatory framework for public issuance of non-convertible redeemable preference shares and also for listing of privately placed redeemable preference shares. Further, as per Basel III norms, Banks can issue non-equity instruments such as Perpetual Non-Cumulative Preference Shares and Innovative Perpetual Debt Instruments, which are in compliance with the criteria specified by RBI for inclusion in Additional Tier I Capital. The Regulations shall also be applicable to such instruments issued by banks.
