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S. 621 of the Companies Act, 1956 – Offences against Act to be cognizable, only on complaint by registrar, shareholder or Government

July 6, 2012 2727 Views 0 comment Print

Section 621 of the Companies Act, 1956 – Offences against Act to be cognizable, only on complaint by registrar, shareholder or Government – Serious fraud investigation officers authorized for purposes of filing and conducting prosecution under the Act. Notification No. GSR 539(E), dated 6-7-2012 – In pursuance of sub-section (1) of section 621 of the Companies Act, 1956 (1 of 1956), the Central Government hereby authorise the following officers in the Serious Fraud Investigation Office, Ministry of Corporate Affairs, for the purposes of filing and conducting prosecution under the Companies Act, 1956, namely:—

Notification for Mah. Act No. VIII of 2012-Date of effect on which Section 7(1), section 23 and section 26(2) of Amd. Act shall come into force

July 4, 2012 1335 Views 0 comment Print

In exercise of the powers conferred by clause (b) of sub-section (2) of section 1 of the Maharashtra Tax Laws (Levy Amendment and Validation) Act 2012 (Mah. VIII of 2012) the Government of Maharashtra

Basmati Rice can be exported without any Minimum Export Price (MEP)

July 4, 2012 901 Views 0 comment Print

Notification No. 6 (RE-2012) /2009-2014 In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby deletes the entry at Point (ii) in the “Nature of Restriction” column [Column No. 6 of the table] against Sl. No. 57 in Chapter 10 of Schedule 2 of ITC(HS) Classification of Export and Import Items relating to Basmati rice.

Section 46 of the Prevention of Money Laundering Act, 2002 – Special Courts – Application of Cr. PC, 1973 to proceedings before Special Court – Appointment of Special Public Prosecutor

July 4, 2012 2833 Views 0 comment Print

In exercise of the powers conferred by sub-sections (1) and (2) of section 46 of the Prevention of Money Laundering Act, 2002 (15 of 2003) read with sub-sections (7) and (8) of section 24 of the Code of Criminal Procedure, 1973 (2 of 1974), the Central Government hereby appoints Shri Mumtaz A. Kapta, Advocate, as Special Public Prosecutor for conducting prosecutions on behalf of the Directorate of Enforcement before the High Court of Jammu and Kashmir and also the Special Court at Srinagar.

Service Tax (Second Amendment) Rules, 2012 – Corrigendum

July 2, 2012 2941 Views 0 comment Print

Notification [F. No. 334/01/2012- TRU], dated 2-7-2012 – In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2012-Service Tax, dated the 20th June, 2012 published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number G.S.R. 478 (E), dated the 20th June 2012, in rule 6A, in sub-rule (1), in clause (f),-

Conditions for export of Carpets, Handicraft items & Silk items

July 2, 2012 5928 Views 2 comments Print

Notification No. 5 (RE-2012)/2009-2014 Export of Handmade Woolen Carpets, Handicraft items and Silk items etc. (details given above) shall not be permitted on the basis of Documents against Acceptance (D/A) except when covered by (a) Guarantee from Bank or ECGC or (b) made to own Subsidiaries etc.

Prohibition on import of milk and milk products from China extended till 23.6.2013

July 2, 2012 384 Views 0 comment Print

Prohibition on import of milk and milk products (including chocolates and chocolate products and candies/ confectionary/ food preparations with milk or milk solids as an ingredient) from China is further extended till 23.6.2013 or until further orders, whichever is earlier.

Service tax exemption to Railways till 30.09.2012

July 2, 2012 6090 Views 0 comment Print

Notification No. 43/2012-St Govt. exempts the taxable services of the description mentioned in the Table below, provided by the Indian Railways from the whole of service tax leviable thereon under section 66B of the said Act, with effect from the date of publication of this notification in the Official Gazette, upto and including the 30th day of September, 2012.

Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977 – Amended upto June 30, 2012

July 2, 2012 487 Views 0 comment Print

As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues updated Circulars / notifications. The instructions contained in the Notification No.DNBC.39/DG(H)-77 dated 20th June 1977 updated as on June 30, 2012 is enclosed. The updated notification has also been placed on the RBI web-site (http://www.rbi.org.in).

Non-Banking Financial (Non – Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 updated till 30.06.2012

July 2, 2012 1376 Views 0 comment Print

As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues updated circulars / notifications. The instructions contained in the Notification No. DNBS. 193 DG(VL)-2007 dated February 22 , 2007 updated as on June 30, 2012 are reproduced below. The updated notification has also been placed on the RBI web-site (http://www.rbi.org.in).

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