The Employees' Provident Fund Organisation (EPFO) has launched a facility for online verification of status of the claim under the EPF.
The facility can be availed at http://epfindia. nic.in/indiaepf/ loginnew. aspx the user needs to select,
the State, the EPF office, Establishment Code, Extension code, if any and then enter the employee number to ascertain the claim status.
Yes,
You will get a Fresh Import Export Code (IEC) from RA, once your 100% Export Oriented Unit (EoU) gets converted into a Domestic Tariff Area (DTA) unit.
Same is NOT the case when an existing DTA gets converted into 100% EoU. Meaning, it will continue with the same IEC.
This is as per the Clarification issued by Commerce Ministry which can be accessed in http://164.100.9.245/exim/2000/cir/cir08/cir2608.htm
HOW TO GET REGISTERED AS A FOREIGN VENTURE CAPITAL INVESTOR (FVCI)
1. The Applicant is advised to go through the SEBI (Foreign Venture Capital Investors) Regulations, 2000 for checking the eligibility criteria (Reg 4) and such other information while submitting the application to SEBI.
The application in Form A as specified in First Schedule to SEBI (Foreign Venture Capital Investors) Regulations, 2000 and other documents should be filed along with requisite fees (Application fees of US $ 5000) as prescribed under Second Schedule to the Regulations.
2. The application in Form A along with other documents as enumerated below should be submitted in duplicate. One set of Application along with all the documents is forwarded by SEBI to Reserve Bank of India (RBI) for its approval from FEMA angle.
RBI/2008-09/134 A. P. (DIR Seris) Circular No. 09 dated August 21, 2008
Advance Remittance for Import of Goods - Liberalisation
In cases where the importer (other than a Public Sector Company or a Department / Undertaking of the Government of India / State Government) is unable to obtain bank guarantee from overseas suppliers and the AD Category – I bank is satisfied about the track record and bonafides of the importer, the requirement of the bank guarantee / standby letter of credit may not be insisted upon for advance remittance up to USD 1,000,000 or its equivalent. AD Category – I banks may frame their own internal guidelines to deal with such cases as per a suitable policy framed by the bank's Board of Directors [cf A. P. (DIR Series) Circular No.15 dated September 17, 2003].
Now, it has been decided to enhance the limit of USD 1,000,000 mentioned above to USD 5,000,000 or its equivalent, with immediate effect.
Find full detail in http://rbidocs.rbi.org.in/rdocs/notification/PDFs/86458.pdf
RBI/2008-09/127 A. P. (DIR Series) Circular No. 06 dated August 13, 2008
Attention of Authorised Dealer Category – I (AD Category - I) banks is invited to the paragraph C .7 of A. P. (DIR Series) Circular No.12 dated September 9, 2000, in terms of which AD Category – I banks/exporters have been allowed, in certain cases, to dispatch shipping documents direct to the consignee. All other cases of dispatch of shipping documents by the exporter direct to the consignee are considered by the Reserve Bank on a case to case basis.
With view to further liberalise the facilities available to the exporters and to simplify the procedure, it has been decided to allow AD Category - I banks, to regularize cases of dispatch of shipping documents by the exporter direct to the consignee or his agent resident in the country of the final destination of goods, up to USD 1 million or its equivalent, per export shipment, subject to the following conditions:
a) The export proceeds have been realized in full.
b) The exporter is a regular customer of AD Category - I bank for a period of at least six months.
c) The exporter's account with the AD Category – I bank is fully compliant with Reserve Bank's extant KYC / AML guidelines.
d) The AD Category – I bank is satisfied about the bonafides of the transaction.
In case of doubt, the AD Category – I bank may consider filing Special Transaction Report (STR) with FIU_IND (Financial Intelligence Unit in India).
The directions for Status Holder Exporters and Units in Special Economic Zones issued vide A. P. (DIR Series) Circular No. 35 dated April 1, 2002 and A. P. (DIR Series) Circular No. 10 dated August 14, 2002, respectively, shall remain unchanged.
In the Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993: -
(i) in regulation 6, in sub regulation (2), in clause (d), for the words 'experience as portfolio manager or stock broker or investment manager' the words 'experience in related activities in portfolio management or stock broking or investment management' shall be substituted;
(ii) in regulation 7, -
(a) for the words "fifty lacs rupees" occurring at the end, the words "two crore rupees" shall be substituted;
Yes, the Networth should be Two Crore Rupees & for the existing Portfolio Managers should raise the Networth to 1 Crore in 1st 6 months & should have total Networth of 2 Crores by the end of 12 months from the date of Regulations (11th August 2008). The Capital Adequacy requirement has to be complied in addition to the Networth.
(iii) in regulation 16, for sub - regulation (8), the following shall be
inserted namely:-
" (8) The portfolio manager shall not hold the listed securities, belonging to the portfolio account, in its own name on behalf of its clients either by virtue of contract with clients or otherwise:
Provided that any portfolio manager holding the listed securities belonging to the portfolio account in its own name on behalf of its clients on the date of commencement of the Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2008 shall segregate each clients' listed securities and keep them separately within six months from such commencement:
Provided further that the Board may in the interest of investors or for the development of securities market, on an application made in this behalf by a portfolio manager with respect to any specific investment existing on the date of commencement of the Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2008, relax the strict enforcement of this regulation."
Find full detail in http://www.sebi.gov.in/acts/pmamendreg.pdf
Amendment to the Securities and Exchange Board of India (Intermediaries) Regulations, 2008
4. In the Securities and Exchange Board of India (Intermediaries) Regulations, 2008, in regulation 2, in sub-regulation (1), in clause (g), after the words "a derivative segment" the words "or currency derivatives segment" shall be inserted.
(i) in regulation 2-
a. in clause (ae), after the words "derivatives segment of an exchange" the words "or currency derivatives segment of an exchange" shall be inserted;
b. in clause (gd), after the words "derivatives segment of a stock exchange" the words "or currency derivatives segment of a stock exchange" shall be inserted.
(ii) In regulation 16 I, in sub-regulation (4), for the words "regulation 26" occurring at the end, the words "Chapter VI" shall be substituted.
(iii) After Chapter IIIA, the following Chapter and regulations shall be inserted, namely:-
CHAPTER III B
REGISTRATION OF TRADING AND CLEARING MEMBERS OF CURRENCY DERIVATIVES SEGMENT
Find full detail in http://www.sebi.gov.in/acts/stockbramend.pdfIn the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996 -
(i) for regulation 32, the following shall be substituted, namely:-
Mechanism for investor protection.
32.
The depository shall satisfy the Board (means SEBI) that it has a mechanism in place to ensure that the interests of the persons buying and selling securities held in the depository are adequately protected."
