. In your letter and other correspondences under reference, you have inter alia represented as follows:- i. Terruzzi Fercalx SpA (TERRUZZI), a foreign company incorporated in Italy had acquired 33.50 lacs shares representing 40.90% of Vulcan Engineers Ltd (VEL) by way of preferential allotment on November 20, 2009 and acquired remaining 21.30 lacs shares representing 25.86% shareholding of VEL from the original promoters of VEL under Share Purchase Agreement (SPA) dated October 12, 2009, Thereafter, TERRUZZI made an open offer under Takeover Regulations wherein it acquired 0.15% share capital of VEL. As on the date of the letter, TERRUZZI holds 54.8 lacs shares representing 66.91% of the shareholding of VEL.
In exercise of the powers conferred by sub Section (1-A) of Section 81 of the Companies Act 1956 read with Section 642 of the said Act, the Central Government hereby makes the following rules in supersession of unlisted Public companies (Preferential Allotment) Rules, 2003. 1. Short Title and Commencement -(i) These rules may be called Unlisted Public Companies (Preferential Allotment and Private Placement) Rules 2011 (ii) They shall come into force on the date of their publication on official Gazette.
Order No.4/FT&TR/2011 – In exercise of powers conferred under section 144C of the Income Tax Act, 1961, and in supersession of Order No.1/FT&TR-I/2011 dated 12.012011 and Order No.3/FT&TR-I/2D11 dated 31.03.201, the Board hereby constitutes the Dispute Resolution Panel (DRP) comprising of three Commissioners of Income Tax/Directors of Income Tax as Members of DRP at the places given below, who shall perform such duties in addition to their regular duties with effect from 23.05.2011 and until further order:
CBDT Vide Order No. 81 of 2011 dated 9.5.2011, the CBDT has transferred & posted Additional/ Joint CITs in the Directorate of International Taxation & Transfer Pricing. Vide Order No. 82 of 2011 dated 9.5.2011, the CBDT has transferred & posted Deputy/ Assistant CITs.
In exercise of the powers conferred by sub-section (1) of section 233B of the Companies Act, 1956 (1 of 1956), the Central Government, being of the opinion that it is necessary to do so, hereby directs that all companies to which any of the following rules apply, and wherein the aggregate value of the turnover made by the company from sale or supply of all products or activities during the immediately preceding financial year exceeds hundred crores of rupees; or wherein the company’s equity or debt securities are listed or are in the process of listing on any stock exchange, whether in India or outside India, shall get its cost accounting records, in respect of each of its financial year commencing on or after the 1st day of April, 2011, audited by a cost auditor who shall be, either a cost accountant or a firm of cost accountants, holding valid certificate of practice under the provisions of Cost and Works Accountants Act, 1959 (23 of 1959).
ORDER NO. 78 OF 2011 -The following officer who have come back from deputation and awaiting posting are hereby posted as OSD in the CCIT(CCA) Region as against their names with effect from the date of their reporting back to the Board and until further orders
ORDER NO. 76 OF 2011 – The following local transfers/postings in the grade of Commissioner/Director of Income Tax are hereby ordered with immediate effect and until further orders:
F. NO. 52/26/CAB-2010; Cost Audit made Applicable for the companies in Bulk Drugs, Fertilizers, Sugar, Petroleum, Electricity, Telecom, Alcohol and Petroleum Industry if aggregate value of net worth as on the last date of the immediately preceding financial year exceeds five crores of rupees; or wherein the aggregate value of the turnover made by the company from sale or supply of all products or activities during the immediately preceding financial year exceeds twenty crores of rupees ; or wherein the company’s equity or debt securities are listed or are in the process of listing on any stock exchange,whether in India or outside India
Vide Order No. 75 of 2011 dated 30.04.2011, the CBDT has transferred / posted Additional/ Joint/ Deputy/ Assistant Commissioners of Income-tax. Ordrer no. 75 of 2011
Vide Order No. 72 of 2011 dated 29.04.2011, the CBDT has transferred / posted additional/ Joint Commissioners of Income-tax. Vide Order No. 53/2011 dated 30.03.2011 CBDT has promoted its officers to the grade of Joint Commissioners of Income-tax on ad hoc basis. In continuation of Order No. 53/2011 dated 30.03.2011 CBDT has ordered following Transfer/posting of officer untill further orders vide Order No. 73 of 2011 dated 29.04.2011,
