"manupatra" Round Up
No. 10 [05-04-02]
Securities and Exchange Board of India
Activity Schedule for the exchanges for the T+3 rolling Settlement
Guidelines for Investment in Foreign Securities by Mutual Funds
Department of Economic Affairs
Interest Rate on Deposits Made Under Special Deposit Scheme an Specified
Issue of 6.96 Percent Oil Companies' Government of India Special Bonds, 2009
Issue of 8.50 Percent Nationalised Banks' (Non-Transferable) Special Security, 2014
Part Redemption of 10 Per Cent Nationalised Banks' (Non-Transferable) Special Security, 2009
Part Redemption of 10 Percent Government of India Nationalised Banks' Recapitalisation Bonds, 2006
Restoration of the Facility of Rebooking of Cancelled Forward Contracts
RBI simplifies Procedure for Exhibition and Sale of Goods outside India
Export of Goods and Services - Facilities to Status Holder Exporters
Facilities to Status Holder Exporters - Credit to the EEFC account
Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2002
Ministry of Consumer Affairs, Food and Public Distribution
Department of Industrial Policy
Ministry of Environment and Forests
Ministry of Personnel, Public Grievances and Pensions
Justice A. M. Khanwilkar appointed as Judge of Bombay High Court
Law Minister releases statement on peer review accounting system
Announcement of First Five Year Exim Policy of the Millennium (2002 - 2007)
Standing Committee recommends incentives to promote diversification of crops
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Securities and Exchange Board of India
Circular No. SMD/POLICY/ Cir -07/2002 Dated 28.03.2002: SEBI has issued clarifications on the representations received from the brokers in their individual capacities as well as their representative capacity regarding the fees payable by the Stock brokers.
Activity Schedule for the exchanges for the T+3 rolling Settlement
Circular No.SMD/Policy/Cir- 05/2002 Dated 26.03.2002: Pursuant to discussions with the exchanges of NSE and the BSE, the activity schedule has been decided for the exchanges for the T+3 rolling settlement.
Guidelines for Investment in Foreign Securities by Mutual Funds
Notification No. MFD/CIR/ 17 / 419 /02 Dated 30.03.2002: The mutual funds have been permitted to make investments in foreign debt securities in the countries with fully convertible currencies, short term as well as long term debt instruments with highest foreign currency credit rating by accredited/registered credit rating agencies subject to certain guidelines.
Circular No. MFD/CIR/ 16 / 400 /02 Dated 26.03.2002: In order to give the investors objective analysis of the performance of the mutual funds schemes in comparison with the rise or fall in the markets, it has been decided in consultation with AMFI to disclose the performance of benchmark indices also whereby at present all mutual funds are required to disclose the performance of the benchmark indices in case of equity oriented schemes below the yields of the schemes in the format for half-yearly results.
Income-tax (Fifth Amendment) Rules, 2002
Notification No. 70/2002 Dated 01.04.2002: Amendment in Rule 11K
Amendment to Notifications as specified
Notification No. 24/2002 Dated 28.03.2002: Amendment to Notification No.83/94 and No. 84/94-Central Excise, both dated the 11th April, 1994, No. 9/96-Central Excise, dated the 23rd July 1996 and No. 26/2001-Central Excise, dated the 11th May, 2001.
Exports - furnishing of examination report
Circular No. 630/21/2002-CX Dated 27.03.2002: The Board has directed that whenever the Central Excise Officers examine and seal the export goods at a factory or a warehouse, the duly completed Examination Report must accompany the export goods to the port/airport of export.
Amendment to Notification No. 21/2002-Customs
Notification No. 36/2002 Dated 03.04.2002: Amendment in the Table and Annexure to the notification.
Notification No.29/2002 to 33/2002 all Dated 27.03.2002 and Notification No. 34/2002 and No. 35/2002 both dated 28.03.2002: Anti dumping duty has been imposed on the products as mentioned below :-
| Product | Imported From |
| Hydrofluoric acid | China |
| Sodium Nitrite | European Union, Taiwan |
| Pentaerythritol | Canada, Japan, Taiwan |
| Sodium hydroxide | Qatar |
| Hexamine | Saudi Arabia, Russia |
| 2-Methyl (5) Nitro Imidazole | China |
| Peracetamol | China, Taiwan |
Department of Economic Affairs
Interest Rate on Deposits Made Under Special Deposit Scheme an Specified
Notification No. F.5(7)-PD/2002 Dated 30.03.2002: It has been notified that the deposits made under the Special Deposit Scheme for non-Government Provident, Superannuation and Gratuity Funds, shall with effect from 1st April, 2002 and until further orders, bear interest at 9 (Nine) per cent per annum.
Issue of 6.96 Percent Oil Companies' Government of India Special Bonds, 2009
Notification No. 4(7)-W&M/2002 Dated 30.03.2002: Government of India has notified the issue of 6.96 per cent Oil Companies Government of India Special Bonds, 2009 on 30th March, 2002.
Issue of 8.50 Percent Nationalised Banks' (Non-Transferable) Special Security, 2014
Notification No. 4(8)-W&M/2002 Dated 28.03.2002: Government of India has notified the issue of 8.50 per cent Nationalised Banks' (Non-Transferable) Special Security, 2014 on March 30, 2002.
Part Redemption of 10 Per Cent Nationalised Banks' (Non-Transferable) Special Security, 2009
Notification No. F.4(2)-W&M/2002 Dated 27.03.2002: Government of India has notified part redemption of 10 per cent 'Nationalised Banks' (Non Transferable) Special Security, 2009 for an amount of Rs. 25.72 crore (nominal) out of the special security issued to Vijaya Bank for value aggregating Rs. 302 crorc (nominal) subject to certain terms and conditions.
Part Redemption of 10 Percent Government of India Nationalised Banks' Recapitalisation Bonds, 2006
Notification No. F.4(2)-W&M/2002 Dated 27.03.2002: Government of India has notified part redemption of 10 per cent Government of India Nationalised Banks' Recapitalisation Bonds, 2006 for value aggregating Rs. 150.42 crores (nominal) subject to certain terms and conditions.
Establishment of Debts Recovery Tribunal at Coimbatore
Notification No. GSR221(E) Dated 22.03.2002: The Central Government has notified the establishment of the Debts Recovery Tribunal at Coimbatore.
WMA Scheme, 2002 for State Governments
Press Release No. 1092/2001-2002 Dated 01.04.2002: The revised Ways and Means Advances Scheme, 2002 will come into effect from April 1 2002 whereby the total revised normal WMA limits has worked out to Rs. 6,035 Cr as against the present limit of Rs. 5,283 Cr.
Restoration of the Facility of Rebooking of Cancelled Forward Contracts
Press Release No. 1067/2001-2002 Dated 26.03.2002: It has been decided to extend the freedom of rebooking of cancelled forward contracts covering exposures arising out of import and non-trade transactions upto 100 per cent of the unhedged exposures (including contracts cancelled earlier) falling due within one year, subject to a cap of US dollar 100 million in a financial year per corporate.
RBI simplifies Procedure for Exhibition and Sale of Goods outside India
Press Release No. 1066/2001-2002 Dated 25.03.2002: The Reserve Bank of India has decided to simplify the procedure for taking goods for exhibition and sale outside India under which the authorised dealers can approve the export of goods for exhibition outside India and any prior permission from the Reserve Bank would not be required.
Issue of General Insurance Policies in foreign currency
Circular No. AP (DIR Series) Circular No. 36 Dated 02.04.2002: It has been decided that insurance companies registered with IRDA may issue general insurance policies denominated in foreign currency and receive premium in foreign currency without prior approval of the Reserve Bank, in certain specified cases.
Export of Goods and Services - Facilities to Status Holder Exporters
Circular No. A.P.(DIR Series) Circular No.35 Dated 01.04.2002: It has been decided to extend the facilities in the following areas to the exporters with proven track record who have been certified as "Status Holder Exporters" in terms of the EXIM Policy
1.Despatch of Shipping Documents
2.Enhancement in normal period for realisation of export proceeds
Facilities to Status Holder Exporters - Credit to the EEFC account
Circular No. A.P.(DIR Series) Circular No.34 Dated 01.04.2002: It has been decided that the exporters with proven track record who have been certified as "Status Holder Exporters" in terms of the EXIM Policy, may be permitted to credit amount upto 100% of their eligible receipts of foreign exchange to their Exchange Earners’ Foreign Currency (EEFC) account.
Circular No. A.P.(DIR Series) Circular No.31 Dated 27.03.2002, Circular No.32 and 33 both Dated 28.03.2002: Exim Bank has concluded an agreement with the Banco Centroamericano de Integracion Economica (BCIE), Vnesheconombank, Russia (VEB, The Bank for Foreign Economic Affairs of the USSR) and Banco Nacional de Comercio Exterior, S.N.C., (Bancomext), Mexico, respectively, for making available a line of credit upto an aggregate sum of US$ 10 million subject to certain conditions.
Export of Goods for Exhibition / Trade Fairs outside India
Circular No. AP(DIR Series) Circular No. 30 Dated 26.03.2002: With a view to liberalizing the facilities available to exporters and simplifying the export procedures further, it has been decided to permit residents to take / export goods for exhibition and sale outside India without the prior approval of the Reserve Bank of India.
Guidance Note on Market Risk Management
Notification No. BP./21.04.103/2001 Dated 26.03.2002: On the basis of feedback received from the members of the Working Group, a draft Guidance Note on Credit Risk has been prepared by RBI for comments by banks and other market participants.
Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India)(Second Amendment) Regulations, 2002
Notification No. FEMA 58/2002-RB Dated 01.04.2002: Amendment in the Schedule - Substitution of Paragraph (I) and Insertion of Sub-paragraph (IA)
Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2002
Notification No. FEMA 57/2002-RB Dated 01.04.2002: Amendment in Regulation 9
Sale of Government of India Dated Securities by Auction
Notification No. IDMC. 4343 /08.02.30.01/2001-02 Dated 02.04.2002: Government of India have offered to sell a new dated security of 7 years tenure for Rs.3,000 crore (nominal) and a new dated security of 10 years tenure for Rs.4,000 crore (nominal).
Ministry of Consumer Affairs, Food and Public Distribution
Notification No. SO323(E) to SO325(E) and SO338(E) all Dated 21.03.2002 and Notification No. SO346(E) Dated 28.03.2002: The Central Government has granted recognition for a further period of one year from 1st April, 2002 to 31st March, 2003 in forward contracts, to Central Gujarat Cotton Dealers Association, Vadodara , South India Cotton Association, Coimbatore and Ahmedabad Cotton Merchants Association, in respect of cotton and Vijai Beopal Chamber Ltd., Muzaffarnagar and Meerut Agro Commodities Exchange Co. Ltd., Meerut in respect of Gur.
Ministry of Commerce and Industry
Condition on import of textile and textile articles
Policy Circular No. 1/2002-2007 Dated 31.03.2002: It has been clarified that the condition on import of textile and textile articles as specified in paragraph 11 of chapter 1A of General notes regarding import policy of ITC (HS) Classifications of Export and Import Items, 2002-2007 shall not be applicable on imports made by units operating under the conditions of section 65 of Customs Act, 1962.
Amendment in the Handbook of procedures (Vol. 1)
Public Notice No. 4/2002-2007 Dated 01.04.2002: Amendment in Paragraph 4.31
Diamond Imprest Licence for cut and polished diamonds
Public Notice No. 3/2002-2007 Dated 31.03.2002: The Director General of Foreign Trade has notified arrangements in respect of the following:
1.Diamond Imprest Licence
2.Export obligation
3.Execution of LUT
4.Further licences
5.Extension of Export Obligation Period
6.Regularisation of Bonafide Default
7.Transitional arrangements
Fixation and modification of input output norms
Public Notice No. 74(RE-2001)/1997-2002 Dated 28.03.2002: The Director General of Foreign Trade has made amendment in the statement of Standard Input Output Norms in the Handbook of Procedures, Vol.2, 1997-2002, as amended.
Department of Industrial Policy
Geographical Indications of Goods (Registration and Protection) Rules, 2002
Notification No. GSR176(E) Dated 08.03.2002: The Central Government has made the Geographical Indications Of Goods (Registration and Protection) Rules, 2002.
Ministry of Environment and Forests
Amendment to Notification No. SO671(E) dated 30.9.96
Notification No. SO348(E) Dated 28.03.2002: In Para 1, substitution of period of five and half years by Six years
Ministry of Law, Justice and Company Affairs
Disqualification of Directors under Section 274(1)(g) of the Companies Act, 1956 - Clarification
Circular No. 8/2002 Dated 22.03.2002: The Government has decided to (i) clarify the legal position in respect of the Public Financial Institutions/Banks having non-obstante clause in their statute (ii) to give some relief to the nominees of the Public Financial Institutions/Banks/Central and State Government subject to certain conditions; and (iii) to exempt Government Companies from the applicability of the provisions of Section 274(1)(g) of the Companies Act, 1956.
Ministry of Personnel, Public Grievances and Pensions
Andhra Pradesh Administrative Tribunal (Salaries and Allowances and Conditions of Service of Chairman, Vice-Chairman and Members) Amendment Rules, 2002
Notification No. GSR225(E) Dated 26.03.2002: Amendment in Rule 12
Creation of a “Petroleum Planning and Analysis Cell”
Resolution No. P-20029/22/2001-PP Dated 30.03.2002: It has been decided to dismantle the Administered Pricing Mechanism (APM) in the petroleum sector and to create a "Petroleum Planning and Analysis Cell" w.e.f 1st April, 2002, to be attached to the Ministry to assist in the discharge of specified functions.
Dismantling of the APM in the hydrocarbon Sector
Notification No. GP-20029/22/2001-PP Dated 28.03.2002: The Government has decided to dismantle the APM in the hydrocarbon sector with effect from 1st April 2002
Exemption Extended by one year
Notification No. SO328(E) Dated 22.03.2002: The Central Government on the recommendation of the Chief Controller has extended the exemption granted from the provisions of rule 16 for a further period of one year and Notification No. SO183 (E) dated 23-03-1999 has been accordingly amended.
Railway Claims Tribunal (Salaries and Allowances and Conditions of Service of Chairman, Vice-Chairman and Members) Amendment Rules, 2001
Notification No. GSR206(E) Dated 11.03.2002: Amendment in Rule 6
Indian Railways Personnel Service (Recruitment) Amendment Rules, 2002
Notification No. GSR175(E) Dated 06.03.2002: Amendment in Rule 8
Building Bye-laws to be amended to provide barrier free environment in Public buildings for disabled persons
Dated 03.04.2002: With a view to provide barrier free environment in the public buildings for the disabled persons, the Ministry of Urban Development and Poverty Alleviation have issued a Public Notice proposing amendments in the Unified Building Bye-Laws, 1983, pertaining to National Capital Territory of Delhi.
Nine Anti-retroviral drugs exempted from excise duty
Dated 03.04.2002: With the objective to bring down prices of Anti Retroviral Durg, the Government has decided to exempt nine Anti Retroviral Drugs from central excise duty which include Lamivudine, Stavudine, Didanosine, Saquinavir, Ritonavir, Indinavir, Efavirenz, Nelfinavir and Nevirapine
Justice A. M. Khanwilkar appointed as Judge of Bombay High Court
Dated 02.04.2002: Shri Justice Ajay Manikrao Khanwilkar, Additional Judge of the Bombay High Court, has been appointed as the Judge of the Bombay High Court with effect from the date he assumes charge of his office.
Presidential assent to Four more bills
Dated 02.04.2002: The President has given his assent to the Inter-State Water Disputes (Amendment) Bill, 2002, the Prevention of Terrorism Bill, 2002, the Institute of Technology (Amendment) Bill, 2002 and the Passport (Amendment)Bill, 2002.
Building & Other Construction Workers Act
Dated 01.04.2002: The Centre will soon convene the State Labour Ministers' conference to speed up implementation of the Building & Other Construction Workers Act 1966.
Law Minister releases statement on peer review accounting system
Dated 01.04.2002: The Union Minister of Law, Justice and Company Affairs, Shri Arun Jaitley released a Statement on Peer Review Accounting System, which has been evolved by the Council of the Institute of Chartered Accountants of India (ICAI) to regulate the profession of Chartered Accountants.
Announcement of First Five Year Exim Policy of the Millennium (2002 - 2007)
Dated 31.03.2002: The first Five-Year Export & Import (Exim) Policy of the new millennium for the period 2002-2007 containing a comprehensive package intended to give a massive thrust to India's exports has been unveiled.
Status of implementation of administrative law reforms
Dated 27.03.2002: The Government has repealed 315 Amendment Acts by enactment of the Repealing and Amending Act, 2001 following recommendations of P.C. Jain Commission on Review of Administrative Laws.
Maran Clears FDI proposals worth Rs. 500 Crore
Dated 26.03.2002: Shri Murasoli Maran, Union Minister of Commerce & Industry, has cleared 29 Foreign Direct Investment (FDI) proposals involving FDI worth Rs.500 Crore.
Standing Committee recommends incentives to promote diversification of crops
Dated 23.03.2002: The Standing Committee of Union Ministers and Chief Ministers on Food Management and Agricultural Exports has recommended that State Cooperative Acts need to be amended to make cooperatives autonomous, self-reliant, democratically managed and member -driven institutions.
Prevention of Terrorism of Terrorism Act, 2002: Act No. 15 of 2002 assented by President on 02-04-2002.
Full Text of the Notifications\Circulars\Acts\Bills\Other information is available on our site "www.manupatra.com."
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