[FEMA][Revised FC-GPR, KYC report & FIRC]Reporting under FDI Scheme - Revised procedure - Amendment

Dear All,

Reporting under FDI Scheme - Revised procedure

Circular Summary by Mr. G. Thirupal, Practising Company Secretary

In a nut shell,
-Format is prescribed for Advanced Reporting
-Advanced reporting should be signed by Authorised Dealer, apart from company
-Advanced report is routed through Authorised Dealer
-KYC made must for allotments in specific format
-KYC should be signed by the remitting bank on behalf of the non resident
-FC-GPR is revised comprehensively
-Now FC-GPR should be filed with RBI directly
-Practising Company Secretaries are recognized in providing certificates.

The RBI vide its APDIR Circular No.44 dated 30th May 2008 amended provisions of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000, to modify reporting requirement through Form FC-GPR.

As you aware that In terms of para 9 (1) A of Schedule I to the Notification, Indian companies are required to report the details of the amount of consideration received for issuing shares and convertible debentures under the Foreign Direct Investment (FDI) scheme to the Regional Office of the Reserve Bank in whose jurisdiction the Registered Office of the company operates, within 30 days of receipt of the amount of consideration. Further, in terms of Para 9 (1) B of Schedule ibid, the companies are required to report the details of the issue of shares / convertible debentures in form FC-GPR, to the Regional Office concerned, within 30 days of issue of shares / convertible debentures.

Further, RBI vide its A. P. (DIR Series) Circular No.40 dated April 20, 2007 has revised FC-GPR In order to capture the details of FDI in a more comprehensive manner. The reporting framework was again reviewed and further revisions were proposed and the revised draft of form FC-GPR was placed in public domain on March 14, 2008 inviting feedback from the public. Based on the feedback received, form FC-GPR has been revised. The revised form is enclosed at Annex I. Further, a standard format for reporting of the receipt of the amount of consideration for issue of shares / convertible debentures has been prescribed as Annex II. A format for the KYC report on the non-resident investor from the overseas bank remitting the amount required to be submitted along with the form FC-GPR has also been introduced (Annex III). The KYC report should, henceforth, be submitted at the time of reporting the receipt of the amount of consideration from the non-resident investor.

Accordingly, Indian companies are required to report the details of the receipt of the amount of consideration for issue of shares / convertible debentures in Annex II, together with a copy/ies of the FIRC/s evidencing the receipt of the remittance along with the KYC report on the non-resident investor in Annex III, through an AD Category – I bank, not later than 30 days from the date of receipt of the amount of consideration. The report would be acknowledged by the Regional Office concerned, which would allot a Unique Identification Number (UIN) for the amount reported.

The details of the issue of shares / convertible debentures should, henceforth, be reported in the revised form FC-GPR (Annex I). While forwarding form FC-GPR to the Regional Office concerned, the AD Category – I bank should ensure that the UIN is correctly indicated in the form. It is also clarified that the annual report of all investments which is to be filed in Part B of the revised form FC-GPR, which is hitherto to be submitted by June 30 every year, would now have to be submitted by July 31 every year.

Thanks & Regards
Alagar
Investment Banking
Karvy Investor Services Limited
Chennai
Tel: 044-28151034/3445/3658
Moble: 919884731993/ 919790906827
e-mail: alagar.muthu@karvy.com

Agricultural Debt Waiver and Debt Relief Scheme, 2008

RBI / 2007-2008/ 330
RPCD.No.PLFS. BC.72 /05.04.02/2007- 08 - 23/5/08

The Chairman/Managing Director
All Scheduled Commercial Banks (including Local Area Banks)

Dear Sir,

Union Budget – 2008-09 – Agricultural Debt Waiver and Debt Relief Scheme, 2008

As you are aware, the Hon'ble Finance Minister, in his Budget Speech (paragraph 73) for 2008-09 has announced a debt waiver and debt relief Scheme for farmers, for implementation by all scheduled commercial banks, besides RRBs and co-operative credit institutions.

2. The detailed Scheme notified by the Government of India along with necessary explanations is enclosed. The scheduled commercial banks (including Local Area Banks) may take necessary action towards implementation of the Scheme at the earliest. The implementation of the Debt Waiver and Debt Relief Scheme should be completed by June 30, 2008.

3. Further communication in respect of this Scheme would follow.

4. In case of RRBs and co-operatives, a separate circular is being issued by NABARD.

Find the Scheme here

SEBI-Simplification of Offer Document and Key Information Memorandum of Mutual Funds Scheme

SEBI/IMD/CIR No. 5/126096/08 - May 23, 2008

To,

All Mutual Funds Registered with SEBI

Association of Mutual Funds in India (AMFI)

Sub: Simplification of Offer Document and Key Information Memorandum of Mutual Funds Scheme

1. All offer documents (ODs) of Mutual Fund schemes filed with SEBI in terms of Regulation 28 (1) of SEBI (Mutual Funds) Regulation 1996 (hereinafter referred to as Regulation) are prepared as per the format prescribed in circular dated March 31, 1998. The format for memorandum containing key information (Key Information Memorandum/KIM) of Mutual Fund schemes is prescribed in the circular dated July 28, 2004.

2. AMFI had set up a committee to examine the ways of simplification of OD and KIM to make it more reader friendly. The committee recommended that the existing OD may be split into two parts i.e. Statement of Additional Information (SAI) and Scheme Information Document (SID). SAI shall incorporate all statutory information on Mutual Fund.

3. The formats of Standard OD and KIM specified through circulars dated March 31, 1998 and July 28, 2004 respectively stand revised. Henceforth, Mutual Funds shall prepare SID, SAI and KIM in the simplified format enclosed with the circular. Contents of SID,SAI, and KIM shall follow the same sequence as prescribed in the format.

4. Applicability

i. All ODs of mutual fund schemes filed with SEBI in terms of Regulation 28 (1) on or after June 1, 2008, shall be prepared in the aforesaid format. Accordingly, the format of SID, SAI and KIM enclosed here shall be applicable for draft OD filed with SEBI on or after June 1, 2008.

ii. OD of any scheme already filed with SEBI and for which SEBI has not yet suggested modifications as required under Regulation 29 (2) shall, as far as possible, be recast in the format of the SID and SAI after receiving observations (final) from SEBI.

iii. The schemes for which the observations (final) have already been received from SEBI, can use the old format of the OD, if they are launched on or before July 31, 2008. Such schemes which are launched with the old format of the OD shall adopt the SID along with the other schemes as mentioned in clause v.

iv. A single SAI (common for all the schemes) shall be filed with SEBI as a one time filing. The SAI shall be filed along with first draft SID for any scheme filed on or after June 1, 2008. The SAI can also be filed separately in case no scheme draft SID has been filed with SEBI as soon as possible but not later than July 31, 2008. After receiving the comments, if any, from SEBI, AMC shall upload the SAI on its website.

5. The existing schemes shall adopt the SID and KIM format as soon as possible but not later than 12 months from the date of issuance of this circular. A confirmation in this regard shall be given in the half yearly trustee report.

5. Updation of SID and KIM – Henceforth, clause 1 of circular dated February 9, 2001 pertaining to 'Updating the offer document on a continuous basis' shall not be applicable. The procedure for updation of SID and KIM shall be as follows:

i. For the schemes launched in the first half of a financial year, the SID shall be updated within 3 months from the end of the financial year. However, for the schemes launched in the second half of a financial year, SID shall be updated within 3 months of the end of the subsequent financial year. (For example, for a fund launched in May, 2008 the SID shall be updated by June 30, 2009 and for a fund launched in December 2008, the SID shall be updated by June 30, 2010) Thereafter, the SID shall be updated once every year.

ii. The procedure to be followed in case of changes to the scheme shall be as under:

a. In case of change in fundamental attributes in terms of Regulation 18 (15A) SID shall be revised and updated immediately after completion of duration of exit option.

b. In case of other changes:

· The AMC shall be required to issue an addendum and display it on the website.

· The addendum shall be circulated to all the distributors/ brokers/Investor Service Centre (ISC) so that the same can be attached to all KIM and SID already in stock till it is updated.

· Latest applicable addendum shall be a part of KIM and SID. (For e.g. in case of changes in load structure the addendum carrying the latest applicable load structure shall be attached to all KIM and SID already in stock till it is updated).

· A public notice shall be given in respect of such changes in one English daily newspaper having nationwide circulation as well as in a newspaper published in the language of region where the Head Office of the Mutual Fund is situated.

· Further account statements shall continue to include applicable load structure.

iii. A copy of all changes made to the scheme shall be filed with SEBI within 7 days of the change.

iv. KIM shall be updated at least once a year and shall be filed with SEBI forthwith.

6. Updation of SAI – The procedure for updation of SAI shall be as follows:

i. Mutual Funds shall be required to prepare SAI and upload the same on their website and on AMFI website. The printed copy of the same shall be made available to the investor on request. SAI shall be updated within 3 months from end of financial year and filed with SEBI.

ii. Any material changes in the SAI shall be made on an ongoing basis by way of updation on the Mutual Fund and AMFI website. SEBI shall be intimated of the changes made in the SAI within 7 days. The effective date for such changes shall be mentioned in the updated SAI.

7. Other requirements

i. Application forms for schemes of mutual funds for which the offer documents are filed with SEBI shall be accompanied by the KIM in terms of Regulation 29 (4). KIM shall be printed at least in 7 point font size with proper spacing for easy readability.

ii. With effect from June 1, 2008, draft SID of schemes of mutual funds filed with SEBI shall also be available on SEBI's Internet site – www.sebi.gov. in for 21 working days from the date of filing. AMC shall submit a soft copy of SID to SEBI in HTML or PDF format, for this purpose. AMC shall be fully responsible for the contents of soft copies of the SID. AMC shall also submit an undertaking to SEBI while filing the soft copy of SID certifying that the information contained in the soft copy matches exactly with the contents of the hard copy.

iii. SID must reach SEBI before it is issued for circulation. If the printed SID is at variance with the SID which has been filed with SEBI and the variation is in the nature of material alteration or the suggestions made by SEBI under Regulation 29 (2), SEBI shall order immediate withdrawal of the SID from circulation and shall publicise such withdrawal of the SID.

iv. Validity of SID – The scheme shall be launched within six months from the date of the issuance of observations (final) from SEBI. If the AMC intends to launch the scheme at a date later than six months, a fresh SID under Regulation 28 (1) alongwith filing fees shall be filed with SEBI. Further, it is clarified that the mutual funds must file their replies to the modifications suggested by SEBI on draft SID as required under Regulation 29 (2), if any, within six months from the date of the letter. In case of lapse of six-month period, the mutual funds shall be required to file fresh SID alongwith filing fees.

8. Standard Observations – In order to ensure minimum level of disclosures in the SID and SAI, the revised and updated format of Standard Observations as on date of issuance of this circular are enclosed. SEBI may revise the Standard Observations from time to time and in that case the date of revision shall also be mentioned. While filing the SID and SAI, AMC shall highlight and clearly mention the page number of the SAI and SID on which each standard observation has been incorporated.

9. Easy Availability of Offer Document – It has been observed that the ODs are not readily available with all distributors/ISCs of Mutual Funds and investors find difficult to get the same. Trustees and AMCs shall ensure that the SID of the schemes and SAI are readily available with all the distributors/ISCs and confirm the same to SEBI in the half yearly trustee report.

10. SEBI circulars IMARP/MF/CIR/ 06/793/98 dated March 31, 1998, MF/CIR/12/109/ 2000 dated February 22, 2000, MFD/CIR No.2 / 205 /01 dated April 27, 2001, MFD/CIR/ 06 / 275 / 2001 dated July 9, 2001 and SEBI/IMD/CIR No.10/16521/ 04 dated July 28, 2004 stand withdrawn.

11. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Corporate Legal Quiz & Company Secretary (ICSI) exams

Yes,

Exams r very nearing.

Now, refresh your memory, start popping up with answers. Its all on Corporate Laws.

Professional Colleagues, please "add your question & answers" for CS friends benefit.



Get enthused for exams.

Keep quizzin...

Two Indian cos cannot seek international commercial arbitration - SC

Two Indian cos cannot seek international commercial arbitration - SC

Thanks Mr. Dattari of CS Mysore group for this information.

The Supreme Court has ruled that two Indian companies locked in a dispute cannot seek international commercial arbitration, as it tantamounts to condoning the home country's law.

While dismissing a plea by TDM Infrastructure Pvt Ltd for international commercial arbitration (ICA), a bench headed by Justice S B Sinha said: "A companyincorporated in India can only have Indian nationality... Hence, where both parties have Indian nationalities, then the arbitration between such parties cannot be said to be an ICA."

Stating that determination of nationality of the parties played a crucial role in the matter of appointment of an arbitrator, the court said the Chief Justice of India or his designate must bear in mind the nationality of an arbitrator.

Noting that the domicile of a company being an artificial person would depend upon the nature and purport of the statute, it said the nationality of a company is determined by the law of the country in which it is incorporated and from which it derives its personality.

However, for the purpose of taxation, test of residence may not be registration, but where the company does its real business and where the central management and control exists.

"The intention of the legislature appears to be clear that Indian nationals should not be permitted to derogate from Indian law. This is part of the public policy of the country," Justice Sinha observed, adding a distinction, thus, exists in law between a nationality and the residence.

Company Secretary (CS) exams, All the Best!

Yes CS friends,

You are going to enjoy the season, exams are nearing. Get only the positive vibes. Your aim is only to attend the exams at your best. Forget everything, now hero is you & the heroine is your CS exams, atleast till the end of your last exam.

Comeon, its only you & your exam in the exam hall, nobody is going to help you. Just take the maximum advantage of the exams.

Wishing you all the very best, Results are force majeure (act of God), so, the only thing, you have to do is, write your exams to your fullest satisfaction.

I feel the enclosed articles, which was publised in CS Mysore 52nd Newsletter may be helpful, as a last minute enthusiaser for & during the exams.

You may access the same following, Enjoy Passing.

Do communicate & say, Yes, you are the one who has proudly attended the ICSI exam ! there is the Victory...

ICSI 15 months Management/Apprentice Training/Exemption, 5 days TOP, 15 days MSOP, 15 days RoC/SE, 25 hours PDP, procedures, formats & regulations

Yes,

Thanks Mr. R. Anand for helping me to make this presentation on CS-Training & Details.

hmmm... I felt this... what is this, Training? When to do? Can I get exemption? Whom to consult? Which regulation to read? What are these jargons - SIP, EDP, PDP, MSOP [its not TOP, ADP, SMTP anymore] RoC/Stock Exchange Training... Who has to do all these? Can I get exemption for whole 15 months or partial exemption? Why to undergo, that 3 months Training? PCS or Co., which is better? How do I find the list of Companies/PCS imparting Training? What if company is not registered? Is there any any minimum Capital Requirement? Which form do I need to submit for Training or its Exemption. Agreement with Practising Company Secretaries, but how? Whether my Appointment Letter itself will do!

Contact ICSI Noida Office @ 011-25781672 for any queries.

Find a solution with See Yes now, always Yes...Like us, join us, Click

Do read all the 7 pages...

CS Training with SeeYes, complete guide to Company Secretary Training with Company or PCS, Exemption, Regis...


Alternatively you may download the same following Training/Exemption

Now, proceed to submit your Resume/Requirements.





Keep trainin/exemptin...Vj

CS Inter/Executive Program Group/Module II - Securities Law - Ultimate Ready Revision Notes

Yes,

Thanks Mr. CS Madhwesh K of CS Mysore Group for sharing this very valuable piece of information, that too @ a very right time, to help CS Inter (Executive) friends for their Securities Law preparation and believe me, even this article will be very much helpful for CS Final friends and other professionals to brush up their knowledge in various acts, rules & regulations pertaining to Capital Markets.

Really, it will guide you through in last minute preparations.

For - ICSI - Inter (Executive Program)- Group(Module) - II - Securities Law Paper. Yes, the Company Secretaries & Securities Law.

This covers an overview (summary) of,
- SEBI Act;
- SCRA;
- Depositories;
- Primary Market Intermediaries;
- Secondary Market Intermediaries;
- SEBI (Disclosure & Investor Protection - DIP) Guidelines & others;
- Various types of Capital Market Instruments;
& much more, that too, in a most interesting way & format.

Yes, Enjoy Studyin & that will give you a license to Automatic Passin...Vj

You can relish the same in Securities Law - An Interesting Presentation

Do Comment your understandin...Vj

Public Comment on Norms for Branch/Liaison Offices in India by Foreign Entities

Dear All,

Public Comment on Norms for
Branch/Liaison Offices in India by Foreign Entities

As per existing provisions of Foreign Exchange Management (Establishment in India of branch or office or other place of business) Regulations, 2000 both opening and closure of Branch/Liaison/Project Offices in India can be done only after getting prior approval from RBI (Central / Regional Office as applicable). This note covers procedural formalities involved in opening of Branch/Liaison/Project Offices in India.

Vide Press Release dated 6^th May 2008, the Reserve Bank of India has proposed to delegate certain powers to authorised dealers regarding extension of validity period of liaison offices of foreign entities and closure of their branch/liaison offices in India. It has proposed to make the delegated powers effective from July 1, 2008 in order to provide necessary time to authorised dealers to assimilate the revised dispensation. So, once it is implemented, if foreign Companies wanted close its Branch/Liaison/Project Offices in India, it can do so once obtaining approval from concern AD instead of Regional Office of RBI. I believe it will reduce considerable time involved in closure liaison/branch office from current time limit of about 2 months in general to complete all the formalities.

Relaxation in Eligibility Criteria

Further, under the present provisions of Foreign Exchange Management Act, a person resident outside India requires prior approval of the Reserve Bank of India for establishing branch/liaison offices in India. The applications are considered by the Reserve Bank on case by case basis subject to the company meeting the eligibility criteria, such as, track record, financial position, etc. with a view to achieving greater transparency, the Reserve Bank of India has also proposed to place in public domain eligibility criteria and procedural guidelines for establishment of branch and liaison offices by foreign entities in India.

For the purpose of seeking public comments, the Reserve Bank has placed on its website, both - the draft circulars regarding delegation of powers for extension of validity period or closure of liaison offices of foreign entities in India and eligibility criteria and procedural guidelines for branch/liaison offices of foreign entities in India. Comments on these can be sent to The Chief General Manager, Foreign Exchange Department, Reserve Bank of India, Central Office (FID), Central Office Building, 11th Floor, S.B.S.Marg, Fort, Mumbai-400001 or by FAX (Fax No. 022-2261 0623) or by e-mail latest by May 20, 2008.

Thanks & Regards

Alagar
Investment Banking
Karvy Investor Services Limited
Chennai
Tel: 044-28151034/3445/3658
Moble: 919884731993/ 919790906827
e-mail: alagar.muthu@karvy.com

Switchover to New Syllabus- CS Inter to CS Executive Program

Yes, an opportunity to become an Executive but its an irrevocable clause, once excercised...

This is for,
FOUNDATION STUDENTS (WHOSE REGISTRATION IS PRIOR TO 1ST NOVEMBER, 2007)
INTERMEDIATE STUDENTS(WHOSE REGISTRATION IS PRIOR TO 1ST FEBRUARY, 2008)

So, what to do?, fill up the Exam Application & No separate Request
Students interested to switchover to New Syllabus may exercise their option for switchover to the New Syllabus at the relevant space provided in the Examination Application Form effective from December`08 Session onwards. Even if the students have sent earlier any separate request in this regard, they still are required to exercise their option while submitting their Examination Form.
Students are not required to submit a separate request, in this regard, to the Institute.

This is an irrevocable clause, but how?
ONCE SWITCHED OVER TO THE NEW SYLLABUS, NO STUDENT WOULD BE ALLOWED TO REVERT TO THE EXISTING SYLLABUS IN ANY CASE.

Get an all-new Identity Card
Students who switchover to the New Syllabus would be allotted a new Registration Number which alongwith the Old Registration Number would simultaneously be shown in the Admit Card so issued during December, 2008 session of CS Examination (or subsequent sessions when the option will be exercised) and could be retained by the students for future reference and as a supplement to their existing Identity Card.

How about Postal/Oral Coaching?, they say just relax
As regards the Postal/Oral Coaching, the students may continue to complete the same either under the existing syllabus and/or new syllabus – as the case may be.

Any additonal fee?, they say NO but subject to conditions
Students are not required to pay any additional fee; for switchover to the New Syllabus. However, in case the students require the study material under the new syllabus, the same can be purchased against requisite payment.

What for Registration De-Novo or Extension?, the grass looks greener
Notwithstanding the above, if the students would like to switchover to the new syllabus – at the time of Registration De-Novo/Extension; they would be allowed to do so. In such case also, the students who require the study materials under the new syllabus will have to purchase the same against payment.

Details of New Syllabus in http://thisisvj.googlepages.com/CSSyllabus.pdf

Enjoy switchin...

Find relevant notification in http://www.icsi.edu/WebModules/LinksOfWeeks/SWITCHOVER.htm

RBI - Claim Settlement of Missing persons, like Evidence Act & Suitable Grievance Redressal Mechanism for Banks (not RRB's)

Settlement of claims in respect of missing persons

A query has been raised regarding the system which should be followed by banks (not Regional Rural Bank) in case a claim is received from a nominee / legal heirs for settlement of claim in respect of missing persons.

2. The settlement of claims in respect of missing persons would be governed by the provisions of Section 107 / 108 of the Indian Evidence Act, 1872. Section 107 deals with presumption of continuance and Section 108 deals with presumption of death. As per the provisions of Section 108 of the Indian Evidence Act, presumption of death can be raised only after a lapse of seven years from the date of his/her being reported missing. As such, the nominee / legal heirs have to raise an express presumption of death of the subscriber under Section 107/108 of the Indian Evidence Act before a competent court. If the court presumes that he/she is dead, then the claim in respect of a missing person can be settled on the basis of the same.

3. Banks are advised to formulate a policy which would enable them to settle the claims of a missing person after considering the legal opinion and taking into account the facts and circumstances of each case. Further, keeping in view the imperative need to avoid inconvenience and undue hardship to the common person, banks are advised that keeping in view their risk management systems, they may fix a threshold limit, up to which claims in respect of missing persons could be settled without insisting on production of any documentation other than (i) FIR and the non-traceable report issued by police authorities and (ii) letter of indemnity.

Relevant Notification in http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=4157&Mode=0

Grievance Redressal Mechanism in banks

Please refer to our Circular DBOD.No.Leg BC.60/09.07.005/2006-07 dated February 22, 2007 wherein instructions were issued to banks regarding analysis and disclosure of complaints. In this connection, it may be mentioned that a proper analysis and disclosure of complaints would be possible only if there is an effective machinery for redressal of grievances in banks. Banks (not Regional Rural Banks) are therefore advised to ensure that a suitable mechanism exists for receiving and addressing complaints from its customers / constituents with specific emphasis on resolving such complaints fairly and expeditiously regardless of the source of the complaints.

2. Banks are also advised to:

(i) Ensure that the complaint registers are kept at prominent place in their branches which would make it possible for the customers to enter their complaints.

(ii) Have a system of acknowledging the complaints, where the complaints are received through letters / forms.

(iii) Fix a time frame for resolving the complaints received at different levels.

(iv) Ensure that redressal of complaints emanating from rural areas and those relating to financial assistance to Priority Sector and Government's Poverty Alleviation Programmes also forms part of the above process.

(v) Prominently display at the branches, the names of the officials who can be contacted for redressal of complaints, together with their direct telephone number, fax number, complete address (not Post Box No.) and e-mail address etc. for proper and timely contact by the customers and for enhancing the effectiveness of the redressal machinery.

3. Further, in terms of our circular no. BC.60 dated February 22, 2007, banks are required to disclose the brief details regarding the number of complaints alongwith their financial results. This statement should include all the complaints received at the Head Office / Controlling Office level as also the complaints received at the branch level. However, where the complaints are redressed within the next working day, banks need not include the same in the statement of complaints. This is expected to serve as an incentive to the banks and their branches to redress the complaints within the next working day.

4. Where the complaints are not redressed within one month, the concerned branch / controlling office should forward a copy of the same to the concerned Nodal Officer under the Banking Ombudsman Scheme and keep him updated regarding the status of the complaint. This would enable the Nodal Officer to deal with any reference received from the Banking Ombudsman regarding the complaint more effectively. Further, it is also necessary that the customer is made aware of his rights to approach the concerned Banking Ombudsman in case he is not satisfied with the bank's response. As such, in the final letter sent to the customer regarding redressal of the complaint, banks should indicate that the complainant can also approach the concerned Banking Ombudsman. The details of the concerned Banking Ombudsman should also be included in the letter.

5. Banks are also advised to give wide publicity to the grievance redressal machinery through advertisements and also by placing them on their web sites.

Relevant Notification in http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=4158&Mode=0
Yes, keep updatin...

CS Special Forums, CS Training Discussion, CS Quiz & more

Yes,

Its my long time dream to set up an exclusive forum for Company Secretary friends.

This forum is in addtition to and not in derogation of existing forums.

This concentrates more to help cumulating CS-practice related files, circulate CS Trainees Bio-datas and Companies/PCS requirements, quizzing on Corporate Laws and sort out other queries.

Do remember, FILES can be submitted, thats the main intention of creation of this forum.

Hope this platform can help CS friends.

Company Secretaries, & other professionals are welcome to share their ideas/views to make the forum more interestin...

Invite more people to get addressed most of the issues.

The forum can accessed by http://learnlabz.ning.com

Keep Informin...Vj