| Professional
News |
| INCOME
TAX |
| Income Tax department manpower
shortfall at 29.47% |
|
Delhi : The Income Tax
Department and Directorates had shortfall of 29.47 per cent
manpower as of March 31, 2012, the Parliament was informed
today. The sanctioned strength of department is 57,793 while
the working strength is 40,756; thus a shortfall of 29.47 per
cent, the Minister of State for Finance S S Palanimanickam
informed the Lok Sabha in a written reply. "The Investigation
Directorates, Intelligence and Criminal Investigation
Directorate and Central Charges of the Income Tax Department
are facing acute workforce shortage which is hampering their
effective functioning," he said.
|
| SEBI |
| Three-year disclosure must for
promoter share transfer: SEBI |
|
Delhi : Promoters of a
listed company need to have made their shareholding
disclosures at least three years before any transfer of shares
between themselves without triggering an open offer for public
investors, SEBI has said. The capital markets regulator has
said disclosure as promoters in the shareholding pattern
filing is a must for at least three years to get exemption
from open offer, even if the company has been listed for a
shorter period of time. If the shareholding of any entity hits
the 25 per cent threshold limit in a listed company, it is
required to make an open offer for an additional 26 per cent
shares from public shareholders of the company.
|
| Sebi probe shows DLF disclosures
inadequate |
|
Maharashtra : Investigations
by the Securities and Exchange Board of India ( Sebi) show
that DLF Ltd, which raised a little over Rs 9,000 crore
through a public issue in 2007, had made inadequate
disclosures in its then offer documents. Sebi sources say
their probe shows Sudipti Estates, against which a criminal
complaint was registered with the Delhi Police, is part of DLF
group. Yet, the company had failed to give details about it in
their initial public offering ( IPO) prospectus.
|
| Sebi to tighten oversight mechanism
for brokers |
|
Maharashtra : Sebi proposed
a strict oversight mechanism for brokers and other market
intermediaries to cover the risks posed by their business
activities on investors and the overall market. Besides, the
regulator has also asked various stock exchanges to establish
an "information sharing mechanism" among themselves for
exchange of inspection results of their respective member
brokers.
|
| IRDA |
| Fresh norms for new insurance plans
soon |
|
Andhra Pradesh : Insurance
sector watchdog Insurance Regulatory Development Authority
(Irda) is looking at issuing fresh guidelines for new products
in both life and non-life sectors, while also redesigning
rules for certain old products. The draft guidelines would be
released by the end of this year, Irda chairman J Hari Narayan
said. “We are working with the industry to come up with a
design template, based upon what we would like to see in the
products and what we would not want. We would be issuing fresh
guidelines, which hopefully should shortly become
regulations,” he said on Friday.
|
| FDI
Policy |
| Retail FDI victory fuels govt's
reforms push |
|
Delhi : The government is
preparing to push through at least three pieces of key
economic legislation in the winter session of Parliament,
after securing votes for foreign direct investment ( FDI) in
multi-brand retailing. It has put aside the insurance Bill to
raise the FDI cap in the sector from 26 to 49 per cent, as it
would mean sending it back to the standing
committee,
|
| Misc. Corporate Laws
& Other Commercial Policies |
| States have to be part of investment
board: Mines Ministry |
|
Delhi : The constitution of
National Investment Board (NIB) would be futile without
considering State level representations, says the Ministry of
Mines. In its response to a note circulated by the Ministry of
Finance for constituting the nodal body for accelerating
infrastructure projects the Ministry has said this. On
Thursday, the Union Cabinet deferred the decision for setting
up of NIB, as it required more consultations. The Mines
Ministry is agreeable to setting up of NIB to monitor and
fast-track important infrastructure projects.
|
| Finance & Money
Markets |
| FII inflows cross $21
billion |
|
Maharashtra : With the road
paved for additional reforms measures — after the UPA-led
government won the vote on foreign investment in retail — and
increased expectations of interest rate cut by the Reserve
Bank of India, foreign institutional investors (FIIs) are on a
buying spree, with year-to-date inflows into Indian equities
crossing $21-billion mark — the highest since 2010 and second
highest in the last 14 years. According to BSE and Bloomberg
data, FIIs pumped-in $1 billion into Indian equities during
the last five trading sessions,
|
| BSE Sensex edges lower on
profit-taking |
|
Maharashtra : The Sensex
fell on Friday on profit-taking, after the government
expectedly won a vote for foreign investment in retailing in
the Rajya Sabha, while technology stocks such as Infosys
extended declines on worries over the sector’s revenue
outlook. While Parliamentary Affairs Minister Kamal Nath said
victory in the Parliament vote on retail opened way for
financial sector reform bills to be taken up next week, some
market participants argue the reform optimism-led buying could
give way to a technical correction. The Sensex rose 26.1 per
cent in 2012, as of yesterday’s close,
|
| Re falls, snaps three sessions of
gains |
|
Maharashtra : The three
sessions of gains came to an end on Friday, when the rupee
fell due to the euro’s weakness. The rupee closed at Rs 54.48
per dollar compared with previous close of Rs 54.14. On Friday
Germany’s central bank the Bundesbank cut the gross domestic
production (GDP) forecast of Germany for next year dampening
demand for the 17-nation shared currency euro. The rupee
opened at Rs 54.25 per dollar and traded in the range of Rs
54.11-54.56 during the day.
|
| INTERNATIONAL
BUSINESS |
| Facebook in talks to buy Microsoft ad
technology |
|
Facebook Inc is in negotiations with
Microsoft Corp about acquiring advertising technology that
could allow the social network displays ads on other websites,
broadly expanding its advertising business, according to media
reports on Thursday.
|
| Pension/Provident
Fund |
| EPFO takes steps to ensure
compliance |
|
Delhi : The Employees
Provident Fund Organisation (E PFO) has decided to take strict
steps to ensure the money collected in the name of a worker by
his or her employer is deposited and that action is taken
against defaulters, specifically covering contractual staffers
as well. It recently issued two circulars, on November 30 and
December 5, to address such action by contractors or
employers. These say the EPFO and its website would now have
not just the total number of subscribers
|
|
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| Economy |
| India |
| ADB cuts India growth forecast for
2012-13 |
| Steps to address liquidity issue will continue,
says Gokarn |
| Rising current account deficit - a
concern |
| Centre seeks Parliament nod to spend Rs 28,500 cr
on oil subsidy |
| PE investments double to $754 m in
healthcare |
| Forex reserves dip $471 million |
| P Chidambaram seeks extra expenditure of Rs
32,120 crore |
| |
| International |
| US adds 146,000 jobs jobless rate falls to
7.7% |
| UN Climate Change Negotiations 2012: Five EU
nations pledge availability of funds |
| |
| |
| Corporate
Watch |
| EGoM cuts 2G spectrum auction base price
30% |
|
Delhi : The empowered group of
ministers ( EGoM) on telecom today decided to cut the
1,800-MHz band spectrum auction reserve price by 30 per cent
for four circles that did not attract bidders in November. The
ministerial panel, headed by Finance Minister P Chidambaram,
also decided that the spectrum under the 900-MHz band would be
auctioned in the Delhi, Mumbai and Kolkata circles. Both
auctions would be held simultaneously.
|
| Jatia consolidation of firms to give boost
to McDonald's |
|
Maharashtra : The BL Jatia group is
consolidating Hardcastle Restaurants, which runs the
McDonald’s franchise in the west and south, into its listed
company, Westlife Development. Hardcastle will become a direct
subsidiary of Westlife, hitherto an indirect subsidiary. The
move is to boost the diversified group’s consumer business.The
group will basically consolidate two companies, Hardcastle and
Westpoint Leisureparks, into Westlife. Westpoint is the
holding company of Triple A Foods and the latter is the
holding company of Hardcastle. This way, company operations
and structure will be streamlined, said Amit Jatia,
vice-chairman, Westlife.
|
| DLF to raise Rs 3,000 cr by this
fiscal-end |
|
Delhi : In order to ease its debt
position, realty firm DLF on Friday said it will raise up to
Rs 3,000 crore by end of this fiscal from sale of its two
non-core business assets — luxury hotel chain Aman Resorts and
the wind energy business. It also said it will launch
three-four projects in Gurgaon by March 2013, which would
generate about Rs 15,000 crore sales realisation over the next
three-four years. “Aman Resorts is a complex deal. It will
take time. It looks like that wind energy will be concluded
faster than Aman Resorts,” DLF Group executive director Rajeev
Talwar said. The company is engaged in active negotiations in
both the deals and expects to close the transactions by end of
this fiscal, he added.
|
| |
| Tenders
& Assignment |
Orissa State Seeds Corporation Limited
![]() |
Description :Expression of Interest for
Chartered Accountants firms based in for Appointment as
Internal Auditor for Conducting the Audit of its head office
& units for the year 2011-12 & 2012-13 along with bank
reconciliation.
Last Date :
15/12/2012
Address :Orissa State
Seeds Corporation Limited (A Government
Undertaking)
Santarapur,Bhubaneswar-751002.
Phone :0674-2340573
E-Mail :osscltd@bsnl.in
|
Shipping Corporation Of India Limited
![]() |
Description :Appointment Of Chartered
Accountants Firm / Co As Auditor For Scrutiny Of Bills Under
Deck , Engine And Saloon Contract
Last Date
: 17/12/2012
Address
:Shipping Corporation Of India Limited
(A
Government Of India Enterprise)
Regd.Office:Shipping
House,245,Madama Cama Road,Mumbai-400021.
|
Women Development Corporation ![]() |
Description :Appointment of Internal
Auditor for Audit of Self Help Group Federation (Block Level
Bodies) spread across 66 blocks of the State
Last Date : 24/12/2012
Address :Women Development
Corporation
(Dept. of Social Welfare, Govt. of Bihar)
2nd floor, Indira Bhavan, R C Singh Path, Patna
800
001,
Phone :0612 2534096
|
| |
| Reminders |
| Tenders |
| Jammu And Kashmir Economic Reconstruction
Agency 10/12/2012
|
| State Health And Family Welfare
Society 10/12/2012
|
| Jharkhand State Agriculture Marketing
Board 12/12/2012
|
| District Panchaya 12/12/2012
|
| Bihar Urban Infrastructure Development
Corporation Limited 14/12/2012
|
| Central Bank Of
India 15/12/2012
|
| Andrew Yule And Company
Limited 15/12/2012
|
| Indian Overseas
Bank 15/12/2012
|
| |
| Notifications
& Circulars |
| CUSTOMS |
| NOTIFICATION No. 60 / 2012-
CUSTOMS (Delhi) 06/12/2012
|
| Amends the Notification No. 158/95-Customs |
| Notification No.52 /2012-Customs
(ADD) (Delhi) 06/12/2012
|
| Extend the validity of Notification No. 11/2008-Customs,
dated the 23.01.2008 by one more year |
| RBI |
| Notification
No.RBI/2012-13/319 (Delhi) 07/12/2012
|
| Checklist for NBFCs, Non Banking Financial Company-Micro
Finance Institutions (NBFC-MFIs), Non Banking Financial
Company-Factoring Institutions (NBFC-Factors) and Core
Investment Companies (CICs) |
| Notification
No.RBI/2012-13/317 (Delhi) 06/12/2012
|
| RRBs - Bank finance for purchase of gold |
| Notification
No.RBI/2012-13/318 (Delhi) 06/12/2012
|
| RRBs - NPA Management – Requirement of an Effective
Mechanism and Granular Data |
| |
|
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