corporate law

India and Colombia sign MoU for Cooperation in The Hydrocarbon Sector India and Colombia have signed a Memorandum of Understanding(MoU), for cooperation in hydrocarbon sector. Shri Murli Deora, Minister for Petroleum & Natural Gas, Government of India and Mr. Hernan Martinez Torres, the visiting Minister of Energy & Mines, Government of Colombia inked the MoU. Shri Deora informed that the M..

Dr. Duvuri Subbarao has been appointed as the next Governor of Reserve Bank of India. He will take charge of the new post after the present RBI Governor, Dr. Y.V. Reddy demits his office on 5th of this month. This was announced by the Finance Minister, Shri P. Chidambaram at a press conference, here today. Dr. Subbarao is presently holding the post of Finance Secretary in the Ministry of Financ..

19:40 IST Notification No.8/2003-Central Excise provides full exemption from Central Excise duty to goods manufactured by small-scale units i.e. units whose aggregate value of clearances did not exceed Rs.4 crore in the preceding financial year. The exemption is available for clearances up to Rs.1.5 crore in a financial year subject if the prescribed conditions are fulfilled. One of the condit..

Companies Act 2008 - Key Points Here are the Key Points of Companies Act 2008 - One-person company allowed, more stringent regime for not-for-profit firms - Restrictions on number of partners in partnership firms, banking firms relaxed - Companies will not be able to raise deposits from public, except through Special Acts - Consolidation of financial statements of subsidiaries with..

Delhi HC issues notices to TRAI, I&B Ministry on cable fees The Delhi High Court issued notices to the Telecom Regulatory Authority of India (TRAI) and the Ministry of Information and Broadcasting on a petition filed by a TV channel seeking directions to the authorities not to allow cable operators in Delhi to charge carriage fees from them. Justice G S Sistani issued the notices yesterday o..

Dr. D. Subbarao is the Next RBI Governor ------------------------------------------------ Dr. Duvuri Subbarao has been appointed as the next Governor of Reserve Bank of India. He will take charge of the new post after the present RBI Governor, Dr. Y.V. Reddy demits his office on 5th of this month. This was announced by the Finance Minister, Shri P. Chidambaram at a press conference, here toda..

Companies bill 2008 gets the nod of Union Cabinet The Union cabinet today gave its nod for the introduction of the Companies Bill 2008 in the next session of Parliament to replace the existing Companies Act, 1956 by incorporating far-reaching changes. The proposed Bill seeks to enable the corporate sector in India to operate in a regulatory environment of best international practices so that ..

New Bill proposes one person company concept The new Company Bill, which proposes to do away with redundant provisions of the existing Companies Act, 1956, envisages a new entity in the form of one person company (OPC), while empowering the Government to provide a simpler compliance regime for small companies. “The Bill will provide a substantive legal framework while leaving the procedura..

New Delhi, Aug 31 (PTI) The Supreme Court has issued notice to the Karnataka government on a petition filed by a sugar importer challenging a High Court ruling that allowed levy of sales tax on imported sugar retrospectively. A bench headed by Justice S H Kapadia sought reply from the state government and the commercial taxes department on a petition filed by Shamanur Kallappa & Sons challenging ..

New Delhi, Aug. 28 The much-awaited Bill to replace the existing Companies Act, 1956 is expected to be taken up by the Union Cabinet for approval at its meeting slated for Friday. The Bill envisages a simplified company law that also does away with redundant provisions of the existing Act, official sources said. The proposed new law will give a substantive legal framework while leaving the proc..

UP govt employees to get pay commission benefit from Jan 1,2006 Lucknow, Aug 18 Uttar Pradesh government today announced to revise pay scales of its government employees as per the recommendations of sixth pay commission with effect from January 1, 2006. The revised pay scales to the state employees would be paid in cash from December 1, 2008 while the arrears would be p..

Tax blow to tipplers August, 14th 2008 The next time you visit your favourite watering hole for a drink, be prepared to gulp down a possible price hike, too. The government has claimed a 20 per cent share of the profit on every peg sold by bars, restaurants and star hotels, but it's the customer who could end up paying more. "The idea is to spare the poor and tax the rich. That's why we..

An MoU for conservation and management of Dugongs (Dugong dugon) and their habitats under the Conservation of Migratory Species (CMS) was signed during May, 2008. The Agreement is designed to facilitate national level and trans-boundary actions to conserve dugong populations and their habitats of the Indian Ocean and South East Asia. .The dugong has been hunted for thousands of years, often fo..

The Supreme Court in its Judgment Dated: 12-08-2008 between Valji Khimji & Company Vs. Official Liquidator of Hindustan Nitro Product(Gunjara) Ltd., & Others., held that, "The word `scrap' would ordinarily mean something which cannot be used for the same purpose for which it was being earlier used even after repairing or renovating the same". The SC also observed that, merely because the assets..

The Union Cabinet today gave its approval for signing of MoU between India and Canada on cooperation in the field of agriculture and allied sectors. The MoU will promote bilateral cooperation through (i) Knowledge exchange on emerging technologies; (ii) Agricultural Marketing; and (iii) Animal Development. The MoU shall remain valid for a period of 5 years. ..