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Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident and Non-Resident (External) Accounts

July 18, 2012 1253 Views 0 comment Print

Please refer to paragraph 5 of the directives enclosed to the circular DBOD.Dir.BC.47/13.03.00/2000-2001 dated November 4, 2000 and mail box clarification dated May 13, 2005 in terms of which it was clarified that in the case of Non-Resident (External) deposits of staff members, existing or retired, interest rate including any additional interest paid to them by virtue of their being staff members, should not exceed the ceiling stipulated by RBI from time to time.

RBI – Interest Rates on Deposits held in FCNR (B) Accounts

July 18, 2012 520 Views 0 comment Print

Please refer to paragraph 4 of the directives enclosed to our circular DBOD.Dir.BC.49/13.03.00/2000-2001 dated November 4, 2000 and mail box clarification dated May 13, 2005 in terms of which it was clarified that in the case of FCNR(B) deposits of staff members, existing or retired, interest rate including any additional interest paid to them by virtue of their being staff members, should not exceed the ceiling stipulated by RBI from time to time.

Services of brokers can be availed to Sale of securities allotted in Primary issues on the same day

July 16, 2012 577 Views 0 comment Print

Kindly make a reference to para 2(v) of our circular IDMC. PDRS. No. PDS.1/03.64.00/2000-01 dated October 6, 2000 on the captioned subject wherein it has been stated that services of brokers should not be used for sale of securities allotted in primary issues on the same day. 2. The guidelines have since been reviewed and it has been decided that services of brokers can also be availed for carrying out such sale contracts.

RBI rationalises customer charges for NEFT

July 13, 2012 1592 Views 0 comment Print

The Reserve Bank of India has, in consultation with stakeholders, today rationalised charges that banks can levy on customers for transfer of funds through National Electronic Funds Transfer (NEFT). Now banks can levy not more than `2.50 (exclusive of service tax) for funds transfer upto Rs. 10,000. Charges for transfers beyond this limit would remain unchanged, that is, Rs. 5 for transfers between Rs. 10,001 to Rupees one lakh; Rs. 15 for transfers between Rupees one lakh and above and upto Rs. 2 lakh; and Rs. 25 for transfers beyond Rs. 2 lakh.

Amends in the Notification No. 12/2012- Customs, Dated: 17.03.2012

July 13, 2012 859 Views 0 comment Print

Notification No. 45/2012-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. 12/2012- Customs, dated the 17th March, 2012, which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 185(E), dated the 17th March, 2012, namely:-

Sections 51, 63, 64, 65 of LLP Act,2008 notiifed

July 10, 2012 3593 Views 0 comment Print

Central Government hereby makes the following amendments in the notification number S.O. 891(E), dated the 31st March, 2009, namely:- 2. In the said notification,- (a) after serial number 5 and the entries relating thereto, the following serial number and entries shall be inserted, namely: 5A. Section 51

Limited Liability Partnership (Winding up and Dissolution) Rules, 2012

July 10, 2012 23570 Views 0 comment Print

Circumstances in which LLP may be wound up voluntarily.- (1) Any LLP may be wound-up voluntarily if the LLP passes a resolution to wind up the LLP with approval of at least three-fourths of the total number of its partners: Provided that where the LLP has creditors, whether secured or unsecured, the winding up shall not take place unless approval of such creditors takes place in pursuance of rule 7.

CL – Rules & Forms related to filing of petitions to Central Government (Regional Director)

July 10, 2012 4981 Views 0 comment Print

Notification [F No. 1/1/2003-CL.V], dated 10-7-2012 – Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2012 – INSERTION OF RULES 4BBB, 6C, 6D, 6E & 6F, FORM 24AAA and annexure ‘e’ – These rules may be called the Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2012. (2) They shall come into force with effect from 12th August, 2012.

Delegation of powers of Central Government to Regisrar of Companies

July 10, 2012 934 Views 0 comment Print

Government hereby delegates to the Registrar of Companies, the power and functions vested in it under the following sections of the said Act, subject to condition that the Central Government may revoke such delegation of powers or may itself exercise the powers and function under the said sections, if in its opinion such a course of action is necessary in the public interest, namely :-

Delegation of Powers of Central Government to Regional Director

July 10, 2012 1288 Views 0 comment Print

Central Government hereby delegates to the Regional Directors at Mumbai, Kolkata, Chennai, Noida, Ahmedabad and Hyderabad, the power and functions vested in it under the following sections of the said Act, subject to condition that the Central Government may revoke such delegation of powers or may itself exercise the powers under the said sections, if in its opinion such a course of action is necessary in the public interest, namely :-

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