The exemptions to Mega/ Ultra-Mega Power Projects were extended to augment the power generation capacities in the country considering the acute shortages and requirements. The facilities such as Ash Disposal System including ash dyke, water intake including treatment and storage facilities and coal transportation facilities are essential for viability and sustenance of Mega/ Ultra-Mega power Projects and hence are considered vital and inalienable part of such projects.
. In the Companies (Accounting Standards) Rules, 2006, (hereinafter referred to as the said rules), in the Annexure, Under the heading ‘B. ACCOUNTING STANDARDS’, in the sub-heading ‘Accounting Standard (AS) 11’ relating to The Effects of Changes in Foreign Exchange Rates’, after paragraph 46, the following paragraph shall be inserted, namely,- ‘ 46A. (1) In respect of accounting periods commencing on or after the 1st April, 2011, for an enterprise which had earlier exercised the option under paragraph 46 and at the option of any other enterprise (such option to be irrevocable and to be applied to all such foreign currency monetary items), the exchange differences arising on reporting of long-term foreign currency monetary items at rates different from those at which they were initially recorded during the period, or reported in previous financial statements , in so far as they relate to the acquisition of a depreciable capital asset, can be added to or deducted from the cost of the asset and shall be depreciated over the balance life of the asset, and in other cases, can be accumulated in a ‘Foreign Currency Monetary Item Translation Difference Account’ in the enterprise’s financial statements and amortized over the balance period of such long term asset or liability, by recognition as income or expense in each of such periods, with the exception of exchange differences dealt with in accordance with the provisions of paragraph 15 of the said rules.
UBD.BPD.(PCB)CIR No. 16/13.01.000/2011-12 . With a view to providing greater flexibility to banks in mobilising non-resident deposits and also in view of the prevailing market conditions, it has been decided to deregulate interest rates on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non-Resident (NRO) Deposit Accounts (the interest rates on term deposits under Ordinary Non-Resident (NRO) Accounts are already deregulated).
As you are aware, the period of maintenance of short position in G-Sec was extended beyond intraday to five trading days vide circular RBI/2006-07/243 dated January 31, 2007. In continuation, as announced in the Monetary Policy Statement 2011-12, it has been decided to extend the period of Short Sale from the existing five days to a maximum period of three months (including the day of trade), effective from February 1, 2012.
Notification No.92(RE-2010) /2009-2014 Supplies to non mega power projects shall henceforth be entitled to benefits for Deemed Exports only under Para 8.3(a) of FTP, viz., Advance Authorisation / Advance Authorisation for annual requirement / DFIA.
SEBI had initiated preliminary investigations into certain recent Initial Public Offers (IPOs), on receipt of information of irregularities from various sources. Based on the findings of the preliminary investigations carried out, Shri Prashant Saran, Whole Time Member, SEBI, has passed ad interim, ex-parte orders dated December 28, 2011 in matters related to the IPOs by the following companies: PG Electroplast Limited, Brooks Laboratories Limited, RDB Rasayans Limited, Taksheel Solutions Limited, Tijaria Polypipes Limited, Onelife Capital Advisors Limited , Bharatiya Global Infomedia Limited
Policy Circular No. 51(RE-2010)/2009-14 Through Notification No. 40 (RE-2010)/2009-14 dated 31.03.2011, export of cotton yarn was made “Free” subject to registration of export contracts with DGFT, for ITC(HS) Code 5205, 5206 & 5207. Procedure for registration of contracts of cotton yarn was notified through Policy Circular No. 27 of 01.04.2011. Thereafter, Trade Notice No. 19 dated 30.08.2011 stipulating procedure for imposition of penalty for failure to export cotton yarn in terms of Policy Circular No. 27 was issued.
In case capital goods have been imported by the contractor/sub-contractor and supplied as such to project authorities, then custom duties paid on such imports can not be refunded back as deemed export duty drawback under paragraph 8.3(b) of FTP.
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.82/2011-CUSTOMS (N.T.), dated the 28th November, 2011 vide number S.O. 2684(E), dated the 28th November, 2011, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 1st January, 2012 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.
Notification No. 115/ 2011 – Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.85/2004-Customs, dated the 31st August, 2004, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 560 (E), dated the 31st August, 2004, namely:-
