"manupatra" Round Up
No.14 dated [21-05-02]
Format of the Monthly Reporting Format
Circular No. SMD/DC/Cir-12/02 Dated 13.05.2002 : A new format has been prescribed by SEBI to submit the Monthly Activity Report from the month of May 2002 onwards latest by the 7th of the following month.
Amendment to the Listing Agreement- Clause 41
Circular No. SMD/Policy/Cir-11/02 Dated 10.05.2002 : Amendment in clause 41 of the Listing Agreement regarding Publication of annual audited results in the specified format and amendment relating to disclosure of audit qualifications.
Amendment to the Listing Agreement- Clause 12 A
Circular No. SMD/Policy/Cir-10/2002 Dated 07.05.2002 : Insertion of clause (1a) after sub-clause (1) of Clause 12A - Compensation by the company to the aggrieved party for the opportunity losses caused during the period of the delay beyond the period of 1 month in respect of transfer of shares.
Investment in Unlisted Equity Shares
Circular No. MFD/CIR/03/526/2002 Dated 09.05.2002 : With a view to bringing about uniformity in calculation of NAVs of mutual funds schemes, guidelines regarding the methodology for valuation, exercise of due diligence and reporting of compliance, have been issued for valuation of unlisted equity shares.
Revised Annual Statistical Report (ASR)
Circular No. MFD/CIR/02/110/02 Dated 26.04.2002 : It has been decided to disclose the performance of benchmarks in case of various types of debt-oriented schemes and balanced fund schemes while publishing half-yearly results by the mutual funds
Depositories And Custodian Division
Reporting of write off of securities held by Foreign Institutional Investors and Sub-Accounts
Circular No. FITTC/FII/02/2002 Dated 12.05.2002 : Procedure has been prescribed for writing off securities and reporting to SEBI by Foreign Institutional Investors.
Ministry of Finance
Notifications u/s 10 (23C)
Notification No. 112/2002 and No. 111/2002 both Dated 13.05.2002 : Ramakrishna Math and Ramakrishna Mission, West Bengal, has been notified Under section 10 (23C) of the Income-tax Act, 1961 subject to specified conditions.
Approvals u/s 35(1)(ii)
Notification No. 110/2002 and No. 109/2002 both Dated 10.05.2002 and No. 107/2002 Dated 08.05.2002 : Thapar Centre for Industrial Research & Development, Indian Register of Shipping and M/s Ramakrishna Mission Seva Pratishthan, Calcutta has been approved Under Section 35(1)(ii) of the Income-tax Act, 1961 subject to specified conditions.
Approval u/s 10(23G)
Notification No. 108/2002 Dated 08.05.2002 : M/s Fascel Ltd., Ahmedabad has been approved under section 10(23G) of the Income-tax Act, 1961 subject to specified conditions.
Exemption of Goods as specified from the Excise Duty
Notification No. 29/2002 Dated 13.05.2002 : The Central Government has exempted goods falling within the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) , and cleared from
(a) Numaligarh Refinery, or
(b) Bongaigaon Refineries and Petrochemicals Limited, or
(c) Indian Oil Corporation, Guwahati, or
(d) Assam Oil Division, Indian Oil Corporation, Digboi,
from so much of the duties of excise as specified.
Exemption of Goods as specified from the levy of special additional excise duty
Notification No. 28/2002 Dated 13.05.2002 : The Central Government has exempted Motor spirit , commonly known as petrol and High speed diesel oil from the levy of so much of the special additional excise duty as specified.
Amendments to Notification No. 40/2001-Central Excise (N.T)
Notification No. 21/2002 NT Dated 14.05.2002 : Substitution of sub-clause (d) of clause (2) under
the heading "4. Procedure for export to Nepal" - Production of goods before the Nepalese Customs officer at the corresponding border check post
along with the original copy of invoice.
Substitution of Annexure II to the notification - Invoice of goods liable to Central Excise Duty in India transmitted under Central Excise Seal to Nepal.
Amendment to Notification No. 45/2001-Central Excise (NT)
Notification No. 20/2002 NT Dated 14.05.2002 : Amendment in paragraph 1- Full payment for the goods by the importer in Nepal or Bhutan as specified, before the export takes place.
Fixation of Rates of Interest
Notification No. 17/2002 to No. 19/2002 NT all Dated 13.05.2002 : The Central Government has fixed the rate of interest under Central Excise Act, 1944 as under :
(1) 15 Percent U/s 11 AB (2) 15 percent U/s 11AA (3) 8 percent U/s 11 BB
Amendment to Notification No. 21/2002-Customs dated 01.03.2002
Notification No. 52/2002 Dated 13.05.2002 : Amendment in the Table, against S. No. 4 - Substitution of “0406.90” for the entries in column (2).
Levy of Anti-dumping duty on Mild Steel Plates imported from Russia, Kazakhstan and Ukraine under notification No. 100/98-Cus.
Circular No. 25/2002 Dated 09.05.2002 : The DGAD have clarified that the concessional duty under various exemption notifications had not been considered while calculating the anti-dumping duty in the context of anti-dumping investigations on mild steel plates imported from Russia, Kazakhstan and Ukraine.
Amendment to Notification No. 36/2001-Customs (N.T.)
Notification No. 29/2002 NT Dated 16.05.2002 : Substitution of Table - Inclusion of Crude Palmolein and Brass Scrap (all grades) and change of Tariff values.
Fixation of rate of interest
Notification No. 25/2002 to No. 28/2002-NT all Dated 13.05.2002 : The Central Government has fixed the following rates of interest under the Customs Act, 1962
(1) 15 percent p.a. for the purposes of Section 47(2)
(2) 15 percent p.a. for the purposes of Section 28AB
(3) 15 percent p.a. for the purposes of Section 28AA
(4) 8 percent p.a. for the purposes of Section 27A
Amendment to Notifications
Notification No. 5/2002 to No. 7/2002 all Dated 08.05.2002 : Amendment to Notification No. 5/96-Service Tax [G.S.R. 174(E) dated 03.04.1996, No. 44/98-Service Tax [G.S.R. 47(E)] dated 22.01.1998 and No. 1/2001-Service Tax [G.S.R. 504(E) dated 03.07.2002] - Insertion of S.No. 98, 66 and 84 respectively, relating to Armenia in the Schedule to respective notifications
Department of Economic Affairs
Post Office (Monthly Income Account) Second Amendment Rules, 2002
Notification No. GSR350(E) Dated 10.05.2002 : Amendment in Rule 8 - Request to the subscriber by Post Office to withdraw the deposit in excess of prescribed ceilings under rule 4 and payment of interest relating thereto.
Post Office Savings Account (Amendment) Rules, 2002
Notification No. GSR349(E) Dated 10.05.2002 : Amendment in Rule 5
1.Substitution of the words “fifty rupees”, for the words “twenty rupees” and “five hundred rupees" for the words “two hundred and fifty rupees”, in sub-rule (4), and
2.Substitution of the words “twenty rupees” for the words “five rupees”, in sub-rule (6).
Post Office Savings Bank General (Amendment) Rules, 2002
Notification No. GSR348(E) Dated 10.05.2002 : Amendment in Rule 8 and Rule 11.
Rule 8 - Substitution of the words “ten rupees” for the words “two rupees” in sub-rule (3).
Rule 11 - Final withdrawal on closure allowed at the Post Offices authorised by the Director General (Posts).
Rules and Regulations
Notification No. GSR342(E) Dated 07.05.2002 : National Housing Bank (Recovery of Dues of the Approved Institutions) General Regulations 2002
Notification No. GSR341(E) Dated 07.05.2002 : Housing Finance Institutions (Procedure For Recover Of Dues) Rules, 2002
Notification No. GSR340(E) Dated 07.05.2002 : Housing Finance Institutions Debt Recovery Appellate Tribunal (Procedure For Appointment As Presiding Officer Of The Appellate Tribunal) Rules, 2002
Notification No. GSR339(E) Dated 07.05.2002 : Housing Finance Institutions Debt Recovery Appellate Tribunal (Salaries. Allowances And Other Terms And Conditions Of Sen Ice Of The Presiding Officer) Rules, 2002
Notification No. GSR338(E) Dated 07.05.2002 : Housing Finance Institutions Debt Recover Appellate Tribunal (Procedure) Rules, 2002
Notification No. GSR337(E) Dated 07.05.2002 : Housing Finance Institutions Debt Recovery Appellate Tribunal (Salaries, Allowances and Other Conditions of Service of the Officers and Employees) Rules, 2002
Notification No. GSR336(E) Dated 07.05.2002 : Housing Finance Institute Recovery Officers’ (Qualifications and Conditions of Service) Rules, 2002
Notification No. GSR335(E) Dated 07.05.2002 : Housing Finance Institutions Debt Recovery Appellate Tribunal (Financial and Administrative Power) Rules, 2002
Issue of Government Securities
Notification No. F. No. 4(9)-W&M/2000 Dated 06.05.2002 : The Government of India has notified that issue of Government Securities hereafter will be subject to terms and conditions spelt out in this notification (called the 'General Notification') as also terms and conditions notified separately in the Specific notification issued in respect of each security issued until further notice.
Deferred Payments Protocols dated 30th April 1981 and 23rd December 1985 between the Government of India and erstwhile USSR
Circular No. A.P.( DIR Series ) Circular No. 46 Dated 15.05.2002 : Authorised Dealers have been advised that a further change has taken place on 6th May 2002 and accordingly the rupee value of the special currency basket effective from 9th May 2002, has been fixed at Rs.62.5450 with lower and upper limits being Rs. 60.6687 and Rs.64.4214 respectively.
Remittance of Current Income by NRIs
Circular No. A.P. (DIR Series) Circular No. 45 Dated 14.05.2002 : Authorised Dealers may allow repatriation of current income like rent, dividend, pension, interest, etc. of NRIs who do not maintain an NRO account in India based on an appropriate certification by a Chartered Accountant, certifying that the amount proposed to be remitted is eligible for remittance and that applicable taxes have been paid/provided for.
Current Account Transactions - Remittance for Advertisement on Foreign Television
Circular No. AP (DIR Series) Circular No. 44 Dated 14.05.2002 : It has been clarified that before making any remittance for advertisement on foreign television on behalf of residents who do not require any prior permission from the Reserve Bank, authorised dealers should obtain a certificate from a Chartered Accountant certifying that, applicant exporter satisfies the criteria of having export earning of more than Rs. 10 lakhs during each of the preceding two years, and the advertisement for which foreign exchange is being remitted will be broadcast by the foreign television company in foreign countries and not in India alone.
Concessive Rupee Export Credit for Deemed Exports
Notification No. IECD.No. 23/04.02.02/2001-02 Dated 07.05.2002 : All the Banks have been requested to publicise widely the concessionality available in the interest rates for deemed exports and ensure that operating staff are adequately sensitised in this regard.
RBI advances the date for reduction in the CRR
Press Release No. 1272/2001-2002 Dated 18.05.2002 : On a review of the present liquidity situation, the Reserve Bank of India has announced advancement of the date for reduction in cash reserve ratio (CRR). Banks will have to maintain CRR at 5 per cent as against the present level of 5.5 per cent effective next reporting fortnight beginning June 1, 2002.
RBI announces Rate of Interest on FRBs 2006
Press Release No. 1271/2001-02 Dated 18.05.2002 : The Reserve Bank of India has announced that the rate of interest on the Floating Rate Bonds, 2006 (FRB 2006) applicable for the half year ending November 21, 2002 will be 6.23 per cent per annum.
Ministry of Commerce and Industry
Directorate General Of Foreign Trade
Insertion at the end of Chapter 85 of ITC (HS) classifications - Importing licensing notes
Notification No. 4/2002-2007 Dated 15.05.2002 : The Central Government has made amendments by inserting 'Importing licensing Note' at the end of Chapter 85 of ITC (HS) classifications in the ITC (HS) Classifications of Export and Import Items , 2002-2007 published on 31st March, 2002 as amended from time to time.
Anti-Dumping Investigation
Notification No. 14/1/2002-DGAD Dated 09.05.2002 and No. 60/1/2001-DGAD Dated 08.05.2002 : Preliminary findings of Anti-Dumping Investigation concerning imports Of Sodium Tripoly Phosphate (STPP) from People's Republic Of China and Chinese Taipei (Taiwan) and Graphite Electrodes-UHP Grade (of Diameters upto and including 24") originating in or exported from Poland and Brazil has been published.
Anti-dumping duty on Metallurgical Coke
Notification No. 14/13/2002-DGAD Dated 07.05.2002 : Sunset Review regarding anti-dumping duty imposed on Metallurgical Coke from People’s Republic of China has been initiated.
Anti-Dumping Investigation Concerning Imports Of Caustic Soda From People's Republic Of China And Korea RP
Notification No. 14/10/2002 Dated 04.05.2002 : Considering the request of m/s Alkali Manufacturers Association of India (AMAI) on behalf of the Domestic industry, anti-Dumping Investigation Concerning Imports Of Caustic Soda from People's Republic Of China and Korea RP has been initiated.
Exemption of EOUs and units in EPZs & SEZs from payment of Cess on export of tobacco
Notification No. SO496(E) Dated 03.05.2002 : The Central Government being satisfied that it is necessary in the public interest so to do, has exempted the export oriented units (EOUs) and units in the Export Processing Zones (EPZs) and Special Economic Zones (SEZs) from payment of cess on export of tobacco, with immediate effect.
Ministry of Consumer Affairs, Food and Public Distribution
Amendment to Notification No. GSR843(E) dtd. 19.11.2001 relating to Clinical thermometers (Quality Control) Order, 2001
Notification No. GSR328E Dated 07.05.2002 : Substitution of sub-paragraph (2) of paragraph 1 - Enforceability of the order on the expiry of 300 days from the date of publication in the Official Gazette.
Amendment to Notification No. GSR842(E) dtd. 19.11.2001 relating to standard of weights and measures (General)(Second Amendment) Rules 2001
Notification No. GSR327E Dated 06.05.2002 : Substitution of sub-rule (2) of rule 1 - Enforceability of the order on the expiry of 300 days from the date of publication in the Official Gazette.
Bureau of Indian Standards (Recruitment to Scientific Cadre) Regulations, 2002
Notification No. GSR326(E) Dated 03.05.2002 : In supersession of the Bureau of Indian Standards (Recruitment to Scientific Cadre) Regulations, 1988, except as respect things done or omitted to be done before such supersession, the Executive Committee of the Bureau of Indian Standards, has issued the 'Bureau of Indian Standards (Recruitment to Scientific Cadre) Regulations, 2002'.
Ministry of Health and Family Welfare
Amendment in the Indian Medicine Central Council Act, 1970
Notification No. SO516(E) Dated 16.05.2002 and No. SO518(E) Dated 13.05.2002 : Amendment in Second Schedule - Insertion of S. No 98C regarding Sh. Chandrashekhrendra Saraswati Viswa Mahavidyalaya, Kanchipuram (Deemed University) after S. No. 98B in PART 1 “AYURVEDA AND SIDDHA”, relating to Tamil Nadu.
Rules for Competitive Examination - CMSE
Notification No. A.12011/2/2001CHS(I) Dated 11.05.2002 : The rules for a Competitive Examination--Combined Medical Services Examination--to be held by the Union Public Service Commission in 2002 for the purpose of filling specified vacancies have been published with the concurrence of the Ministries/Departments concerned and the Municipal Corporation of Delhi, for general information
Ministry of Law, Justice and Company Affairs
Companies (Fees on Applications) (Amendment) Rules, 2002
Notification No. GSR365(E) Dated 14.05.2002 : Amendment in Rule 2 - Application made by a hotel company to the Central Government under Sub-section (4) of Section 211 of the Companies Act, 1956 for exemption from paras 3(i) (a) and 3 (ii) (d) of Part II of Schedule VI of the Companies Act, 1956 for a period of three years at a stretch, to be accompanied by the appropriate fee as specified in the Table attached.
Appointment of P. Sadasivan Nair as Chairman of the Central Advisory Contract Labour Board
Notification No. SO503(E) Dated 10.05.2002 : The Central Government, has appointed Shri P. Sadasivan Nair as chairman of the Central Advisory Contract Labour Board for a period of three years from the date of publication of this notification in the Official Gazette.
Prohibition of Employment of Contract Labour in Hindustan Petroleum Corporation Limited, Delhi
Notification No. SO502(E) Dated 10.05.2002 : The Central Government has prohibited employment of contract labour in the process, operation or work of maintenance of vehicles and equipments, namely, Tank Trucks, Jeep, Forklifts, DG Sets and Fire Engine, in the establishment of the Hindustan Petroleum Corporation Limited, Shakur Basti installations, Delhi, with effect from the date of publication of this notification in the Official Gazette.
Ministry of Personnel Grievances and Pension
Amendment to Regulations Relating to Physical Examinations of Candidates – Appendix III to Rules for Civil Services Examinations, 2001
Notification No. 13018/8/2000-AIS(I) Dated 10.05.2002 : (1) Substitution of the existing Note below first Regulation - Observance of the relevant provisions of the Persons with Disabilities (Equal Opportunity, Protection of Right and Full Participation) Act, 1995 by the Medical Board while conducting medical examination of the candidates who have applied against the posts reserved for physically handicapped category.
(2) Insertion of clause (iv) relating to 'specified vacancy reserved for physically impaired' in the Note (I) in the Proforma I appended in the Medical Regulations.
Ministry of Petroleum and Natural Gas
Acquisition of Right of User
Notification No. SO514(E) Dated 14.05.2002 : Central Government has declared its intention to acquire the right of user for laying of LPG Pipeline by GAIL in Andhra Pradesh.
Prudential Norms for Nidhi Companies revised
Dated 10.05.2002 : The Department of Company Affairs has issued a notification modifying its earlier notification of July 26, 2001 to fix prudential norms for revenue recognition and classification of assets in respect of mortgage loans or jewel loans of Nidhi companies or Mutual Benefit Society with immediate effect (Please refer to Notification No. GSR309(E) Dated 30.04.2002 issued by DCA)
Presidents assent to two bills
Dated 10.05.2002 : The President has given his assent to the Appropriation (Railways) No. 2 Bill, 2002 and the Appropriation (No. 3) Bill, 2002.
Parliament passes Constitution SC/ST Orders Amendment Bill 2002
Dated 13.05.2002 : The Parliament has passed the Constitution (Scheduled Castes/Scheduled Tribes) Orders (Amendment) Bill, 2002 with Rajya Sabha passing the amendment by a voice vote.
Increase in Managerial Remunerations
Dated 13.05.2002 : For the companies having no profits or inadequate profits, limits of managerial remuneration under schedule XIII to the Companies Act, 1956 have been revised. Based on effective capital of the company, earlier limits were Rs. 75,000/- to Rs. 2,00,000/- per month which have been revised to Rs. 1,50,000/- to Rs. 4,00,000/- per month and linked to good corporate governance practices.
Bill to amend Cable Act Introduced
Dated 14.05.2002 : The Information and Broadcasting Minister has introduced in the Lok Sabha a Bill seeking to amend the Cable Television Networks (Regulation) Act, 1995.
Presidents assent to Finance Bill
Dated 14.05.2002 : The President has given his assent to the Finance Bill, 2002.
The text of the following bills is now available on the site
The Patents (Second Amendment) Bill, 2002
The Foreign Aircraft (Exemption From Taxes And Duties On Fuel And Lubricants) Bill, 2002
The Repatriation Of Prisoners Bill, 2002
The Delimitation Bill, 2002
The Code Of Civil Procedure (Amendment) Bill, 2002
Full Text of the Notifications\Circulars\Acts\Bills\Other information is available on our site "www.manupatra.com."
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