Daily Archives: May 10, 2016

No additional duty leviable on vessels and floating structures imported into India for breaking up : HC

By | May 10, 2016

HIGH COURT OF GUJARAT Shivam Engineering Company v. Union of India M.R. SHAW AND K.J. THAKER, JJ. SPECIAL CIVIL APPLICATION NOS. 10607 OF 1995, 152 TO 154 & 157 OF 1996 JUNE  11, 2014 Paresh M. Dave for the Petitioner. Ketan A. Dave and Amee Yajnik for the Respondent. ORDER M.R. Shah, J. – As… Read More »

Investor Education and Protection Fund Authority constituted by govt

By | May 10, 2016

SECTION 125 OF THE COMPANIES ACT, 2013 NOTIFICATION NO. SO 1647(E) [F.NO.5/27/2013-IEPF (PART-1)], DATED 2-5-2016 In exercise of the powers conferred by sub-sections (5) and (6) of section 125 of the Companies Act, 2013 read with rules 5 and 7 of the Investor Education and Protection Fund Authority (Appointment of Chairperson and Members, holding meetings… Read More »

FEM Manner of Receipt and Payment Regulations 2016

By | May 10, 2016

RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI 400 001 Notification No. FEMA 14(R)/2016-RB May 02, 2016 Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA.14/… Read More »

RBI cancels Certificate of Registration of 4 NBFCs

By | May 10, 2016

RBI cancels Certificate of Registration of 4 NBFCs Date : May 10, 2016 The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Name… Read More »

Govt Sets Up Committee To Frame Policy For Taxi Operators

By | May 10, 2016

Ministry Of Road Transport & Highways Sets Up Committee To Frame Policy For Taxi Operators The Ministry of Road Transport and Highways has constituted a three member committee to prepare a policy framework for taxi and other transport operators. The committee will be headed by Secretary, Ministry of Road Transport & Highways and have Joint… Read More »

Civil Services Examination 2015 Result Declared

By | May 10, 2016

Civil Services Examination, 2015 – Result Declared Based on the results of the written part of Civil Services Examination, 2015 held by the Union Public Service Commission in December, 2015 and the interviews for Personality Test held in March-May, 2016, following is the list, in order of merit, of candidates who have been recommended for… Read More »

Transfers of Chief Justices at Different High Courts

By | May 10, 2016

Transfers of Chief Justices at Different High Courts In exercise of the powers conferred by clause (1) of article 222 of the Constitution of India the President, after consultation with the Chief Justice of India is pleased to transfer Shri Justice Navin Sinha, Chief Justice of the Chhattisgarh High Court, as the Chief Justice of… Read More »

Transfers of Judges in the Different High Courts

By | May 10, 2016

Transfers of Judges in the Different High Courts In exercise of the powers conferred by clause (1) of article 222 of the Constitution of India, the President, after consultation with the Chief Justice of India, is pleased to transfer Shri Justice Tinlianthang Vaiphei, Judge of the Gauhati High Court, as a Judge of the Tripura… Read More »

Pelican Signaling System in Delhi

By | May 10, 2016

Pelican Signaling System The Government has introduced Pelican Signaling System in the National Capital Territory of Delhi. Delhi Police has installed Pelican Signals at 39 locations in the NCT of Delhi to facilitate the pedestrians to cross the road safely. In this Signaling System, the pedestrian green light is activated once a request is registered… Read More »

National Sex Offenders List

By | May 10, 2016

National Sex Offenders List Draft guidelines on the proposal to set up Sex Offenders Registry in India is under preparation in consultation with relevant Ministries/organizations, before they are put out for wider consultation with the State Governments and the public. The initial consultation draft includes the registration of individuals convicted for offences like rape, voyeurism,… Read More »

Organ Donor Law and Procedures simplified

By | May 10, 2016

Simplifying Organ Donor Law and Procedures  New Delhi, 10th May, 2016  Dialysis and Renal Transplantation are two treatment options for patients with end stage renal disease condition. As per available information, transplantation is usually the first line of treatment for such patients.  As compared with dialysis, Transplantation is considered more effective in improving the quality… Read More »

Action plan for Tobacco-free states

By | May 10, 2016

Action plan for Tobacco-free states Government has taken measures including, inter alia, the following to discourage the consumption of tobacco products: (i) Enactment of the “Cigarettes and other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) Act, (COTPA) 2003”. (ii) Ratification of WHO Framework Convention on Tobacco Control.… Read More »

Tax Policy Council (TPC) and Tax Policy Research Unit set up by govt

By | May 10, 2016

Recommendations of Tax Administration Reform Commission (TARC) in all the four Reports submitted to Government The Tax Administration Reforms Commission (TARC) headed by Dr. Parthasarathi Shome submitted its report in four volumes containing a total of 385 recommendations that pertain to Central Board of Direct Taxes (CBDT) and 201 recommendations that pertain to Central Board… Read More »

Govt Plan to make black money and fake notes circulation ineffective

By | May 10, 2016

Plans of Government to render black money and fake notes circulating in the market ineffective The Government has not issued any guidelines regarding minimising daily financial transactions in cash to curb money laundering, black money and so on. However, the plans of Government to render black money and fake notes circulating in the market ineffective… Read More »

Adoption of Suggestions of Panel on Review of Companies Act

By | May 10, 2016

Adoption of Suggestions of Panel on Review of Companies Act The report of Companies Law Committee (CLC) was submitted on 01/02/2016 vide which the Committee had suggested changes in 78 sections of Companies Act, 2013 not including the consequential amendments in other sections of the Act. The Government has accepted most of the recommendation of… Read More »

Compliance of SEBI Directive on Women Director

By | May 10, 2016

Compliance of SEBI Directive on Women Director The requirement of appointment of woman director emanates from Section 149 of Companies Act, 2013.  SEBI has mandated that listed companies to appoint one woman director on its board.  Companies can appoint any woman as director who is not otherwise disqualified for appointment as a director in terms… Read More »

Declaration of Assets & Liabilities in new ITR forms

By | May 10, 2016

Declaration of Assets & Liabilities in the new ITR forms Central Board of Direct Taxes (CBDT) have released new income-tax return formswith mandatory provisions of declaring Assets & Liabilities (A&L) such as cars, jewellery yacht, aircrafts, shares, properties, etc. Prior to Assessment Year (A.Y.) 2015-16, the Asset –Liability Schedule (AL schedule) was applicable to filers… Read More »

Companies CSR Policy Rules 2014

By | May 10, 2016

COMPANIES (CORPORATE SOCIAL RESPONSIBILITY POLICY) RULES, 2014 NOTIFICATION [FILE NO.1/18/2013-CL.V], DATED 27-2-2014 In exercise of the powers conferred under section 135 and sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely:— Short title and commencement 1. (1)These rules may be… Read More »

Demat holding of Securities by Non-residents on Repatriation Basis :RBI seeks Stakeholders’ Views

By | May 10, 2016

Date : May 09, 2016 Ease of Doing Business in India: RBI seeks Stakeholders’ Views on Proposed Change in Forex Rules to mandate Demat holding of Securities by Non-residents on Repatriation Basis It is proposed to amend the Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000 to… Read More »

Mineral concession rules 2016

By | May 10, 2016

Mineral concession rules 2016 The Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016 prescribe the procedures for regulating the grant of mineral concessions and for purposes connected therewith. The provisions of these rules cover (i) Rights of existing holders of mineral concessions, (ii) Mineral concessions granted through auction, (iii) Terms and… Read More »

Ranking of Higher Education Institutions

By | May 10, 2016

Ranking of Higher Education Institutions The Ministry of HRD has ranked top 100 Universities, 100 Engineering, 50 Management and 50 Pharmacy colleges in the country based on National Institutional Ranking Framework (NIRF). The details of these are available at NIRF websitehttps://www.nirfindia.org/Ranking.   No proposal to conduct independent evaluation of these institutions and universities and to… Read More »

Integrated Waste Management System Web-Based Application

By | May 10, 2016

Environment Minister launches Web-Based Application on Integrated Waste Management System The Government has launched a web-based application on Integrated Waste Management System (IWMS) – www.iwms.nic.in for better management of waste.    Launching the application here today, Minister of State (Independent Charge) of Environment, Forest and Climate Change, Shri Prakash Javadekar, said that it will provide an… Read More »