Daily Archives: August 13, 2015

PRADHAN MANTRI Suraksha Bandhan Yojana

PRADHAN MANTRI Suraksha Bandhan Yojana GOVERNMENT LAUNCHES SURAKSHA BANDHAN DRIVE IN A MISSION MODE THROUGH PARTICIPATING BANKS AND INSURANCE COMPANIES TO FACILITATE ENROLMENT UNDER PRADHAN MANTRI SURAKSHA PRESS RELEASE, DATED 9-8-2015 In order to build on the very encouraging response to the two very affordable and convenient to subscribe insurance schemes, namely the Pradhan Mantri… Read More »

Upper ceiling of clerkage fee to Standing Counsels of Income Tax Deptt

GUIDELINES FOR ENGAGEMENT OF STANDING COUNSELS TO REPRESENT INCOME-TAX DEPARTMENT BEFORE HIGH COURTS AND OTHER JUDICIAL FORUMS; REVISION OF THEIR SCHEDULE OF FEES AND OTHER RELATED MATTERS INSTRUCTION NO.5/2015 [F.NO.279/MISC./M-75/2011-ITJ], DATED 23-6-2015 I am directed to refer to the above and Board’s Instruction No. 3 of 2012, dated 11-4-2012 on the above mentioned subject. 2.… Read More »

RESTRICTION ISSUANCE OF MANUAL REFUNDS BY ASSESSING OFFICER

SECTION 143, READ WITH SECTION 154, OF THE INCOME-TAX ACT, 1961 – ASSESSMENT – RESTRICTION ON ISSUANCE OF MANUAL REFUNDS BY ASSESSING OFFICER AST INSTRUCTION NO.136 [F.NO.DGIT(S)/DIT(S)-3/AST/MANUAL REFUNDS/85-2015-16, DATED 10-7-2015 Kindly refer to the above subject. 2. The functionalities for passing orders u/s 143(1)(a)/143(3)/154/ appeal effects/penalty etc. exist on the system and, progressively, AOs are… Read More »

FOREIGN DIRECT INVESTMENT POLICY

CONSOLIDATED FDI POLICY CIRCULAR 2015 – INTRODUCTION OF COMPOSITE CAPS FOR SIMPLIFICATION OF FOREIGN DIRECT INVESTMENT (FDI) POLICY TO ATTRACT FOREIGN INVESTMENTS PRESS NOTE NO.8 (2015 SERIES), DATED 30-7-2015 The Government of India has reviewed the extant FDI policy on various sectors and made following amendments in the Consolidated FDI Policy Circular of 2015, effective… Read More »

Ease of Doing Business in India

Government of India Ministry of Commerce and Industries Department of Industrial Policy and Promotion (v. 11.08.2015) Major Initiatives on Improving Ease of Doing Business  in India. The Government of India has taken up a series of measures to improve Ease of Doing Business. The emphasis has been on simplification and rationalization of the existing rules… Read More »

Bar Council proposes rules for identification of fake lawyers

Bar Council proposes to tweak rules again for identification of fake lawyers  Bar Council of India (BCI), the topmost statutory body governing education, enrollment, practice and conduct of lawyers across the country, had earlier notified Certificate and Place of Practice (Verification) Rules 2015 (‘Verification Rules’) to provide for identification of fake lawyers. The Verification rules… Read More »

FAQ’S ON SECONDARY MARKET

SECONDARY MARKET  Disclaimer: These FAQs are not the interpretation of law but provide only a simplistic explanation of terms/concepts related to Secondary market. All information has been updated till February 28, 2009. For full particulars of laws governing the secondary market, please refer to the Acts/Regulations/Guidelines/Circulars appearing under the Legal Framework Section. Some of the… Read More »

STRAIGHT THROUGH PROCESSING QUESTIONS AND ANSWERS

STRAIGHT THROUGH PROCESSING  1. What is STRAIGHT THROUGH PROCESSING (STP )? Straight-through Processing (“STP”) is a mechanism that automates the end-to-end processing of transactions of the financial instruments. It involves use of a single system to process or control all elements of the work-flow of a financial transaction, including what is commonly known as the… Read More »

ACQUISITION OF SHARES AND TAKEOVERS REGULATIONS

SEBI (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011  These FAQs offer only a simplistic explanation/clarification of terms/concepts related to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 [“SAST Regulations, 2011“]. Any such explanation/clarification that is provided herein should not be regarded as an interpretation of law nor be treated as a binding… Read More »

How to Read IPO and Offer Document

GUIDE TO UNDERSTAND IPO AND OFFER DOCUMENT This sub-section attempts to inform the structure of presentation of the content in an offer document. The basic objective is to help the reader to navigate through the content of an offer document. (a) Cover Page Under this head full contact details of the Issuer Company, lead managers… Read More »

FAQ’S ON EQUITY AND CURRENCY DERIVATIVES

EQUITY AND CURRENCY DERIVATIVES  Q1 What are Derivatives? A. The term “Derivative” indicates that it has no independent value, i.e. its value is entirely “derived” from the value of the underlying asset. The underlying asset can be securities, commodities, bullion, currency, live stock or anything else. In other words, Derivative means a forward, future, option… Read More »

FAQ’S ON DEPOSITORY

DEPOSITORY PARTICIPANTS  1. What is a depository? A “Depository” is a provider of facility for holding securities in book entry or electronic form. It is a kind of bank for securities like shares, debentures, bonds, etc. It also facilitates transactions in the securities held by it. 2. What is dematerialization (Demat)? “Dematerialization” is a process… Read More »

FAQ’S DEBENTURE TRUSTEE

DEBENTURE TRUSTEE  1. What is a Debenture? A debenture is an instrument of debt executed by the company acknowledging its obligation to repay the sum at a specified rate and also carrying an interest. It is one of the methods of raising the loan capital of the company. A debenture is thus like a certificate… Read More »

FAQ’s CONSENT ORDER & COMPOUNDING OF OFFENCE

CONSENT ORDER & COMPOUNDING OF OFFENCE  Updated 20-4-2007 Please refer to Circular No. EFD/ED/Cir-1/2007 dated 20 April 2007 for further details about the process of consent and compounding. Q1. What is a Consent Order ? A. Consent Order means an order settling administrative or civil proceedings between the regulator and a person (Party) who may… Read More »

FAQ’s ON CREDIT RATING

CREDIT RATING  1. What is the full form of CRA? The full form of CRA is Credit Rating Agency. 2. What is a credit rating agency? A credit rating agency is an entity which assesses the ability and willingness of the issuer company for timely payment of interest and principal on a debt instrument. 3.… Read More »