New Annual Return on Foreign Assets & Liabilities
To be filed with RBI on or before 15th July every year
Replacing the erstwhile requirement of filing Part B of FC-GPR
RBI has replaced Part B of the Form FC-GPR by a separate ‘Annual Return on Foreign Liabilities and Assets’ given as Annex-I. The return should be submitted by July 15 of every year to the Director, Balance of Payment Statistics Division, Department of Statistics and Information Management (DSIM), Reserve Bank of India, C-9, 8th floor, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051. Further, the return should be submitted by all the Indian companies which have received FDI and/or made ODI abroad (i.e. overseas investment) in the previous year(s) including the current year. The Annex –II gives the concepts and definitions useful in filling the Annual Return on Foreign Liabilities and Assets. Remember, Part -A of FC-GPR remains as such.
Circular: A.P. (DIR Series) Circular No. 45 dated 15th March 2011 and is applicable with immediate effect from July 2011 onwards. & Definitions.
This requirement is to enable International Monetary Fund (IMF) for the purpose of compiling information to be used in the compilation of India’s Balance of Payments (BoP), International Investment Position (IIP), Coordinated Direct Investment and Coordinated Portfolio Investment. Hence, the formats are ensured to collect such COMPREHENSIVE & DETAILED information with proper definitions for various aspects. Interestingly, apart from the Audited Financials which needs to be annexed to the Annual Return, there is only a certification by Authorised official of the company.
It has the following sections:
1. Section I: Identification Particulars
· Block 1A : Total Paid up Capital of Indian Company
· Block 1B : Free Reserves & Surplus and Retained Profit
2. Section II: FOREIGN LIABILITIES
Investments made under Foreign Direct Investment (FDI) scheme in India:
· Block 2A: Foreign Direct Investment in India (10% or more Equity Participation
· Block 2B: Foreign Direct Investment in India (Less than 10% Equity Holding
Portfolio and Other Liabilities to Non-residents (i.e. position with unrelated parties)
· Block 3A: Portfolio Investment
· Block 3C: Other Investments: (like External Commercial Borrowings)This Other investment is a residual category that includes all financial outstanding not considered as direct investment or portfolio investment (outstanding liabilities with Unrelated Parties).
3. Section –III: FOREIGN ASSETS
· Block 4: Direct Investment Abroad under Overseas Direct Investment Scheme
· Block 4A: Direct Investment Abroad (10 % or more Equity holding
· Portfolio and Other Assets Abroad (i.e., position with unrelated parties)
· Block 5A: Portfolio Investment Abroad
· Block 5B: Financial Derivatives (with non-resident entities only)
· Block 5C: Other Investment (Outstanding claims on Unrelated Parties)
· Block 6: Equity Capital, Free Reserves & Surplus of Direct Investment Enterprise Abroad
[Please report here the total equity, the equity held by your company and the total free reserves & surplus of those nonresident enterprises in each of which your company held 10 per cent or more shares on the reporting date].
· Block 7: Contingent Foreign Liabilities
· Block 8: Employee Information of reporting Indian company
NEW CONCEPTS
Reverse Investment is defined and needs to be reported. It is when where the recipient of investment (being an Indian company) also holds LESS THAN 10% shares in the investor (in case of FDI into India). Same way, in case of ODI from India, the reverse investment is when the recipient of investment (being a foreign company) also holds LESS THAN 10% shares in the investor (being an Indian company).
Methodology for valuation of foreign liabilities and foreign assets:
• Debt securities should be valued at market price, while all other types of debt, viz., loan, trade credit, deposits, other accounts payable/ receivable should be valued at nominal value.
• For the valuation of the outstanding investment, use the corresponding endMarch/ end-December market price/exchange rate.
• For listed companies, the share price on the closing date of reporting period should be used for valuation of Equity.
• For unlisted companies, use the concept of "Own Funds at Book Value (OFBV)" for valuation of Equity, to have consistency in valuation. OFBV reflects the value of enterprise recorded in the book of Direct Investment Enterprise. To put in simple terms, OFBV is based on the books of the direct investment enterprise and can be seen on its balance sheet as shareholder‘s equity. The definition of OFBV contains paid-up capital, all types of reserves and net value of non distributed profits and losses (including result for the current year).
Example for OFBV:
Suppose company's paid up capital = Rs 250 lakh, with FDI 50 % (i.e. Rs 125 lakh)
Accumulated reinvested earnings = Rs 75 lakh
Revaluation of land & shares = Rs 159 lakh
Total = Rs 484 lakh
Therefore, Equity investment by foreign direct investor based on OFBV method is Rs 242 lakhs (50 per cent of Rs.484 lakh).
Enjoy filing Annual Return after reading the Definitions.
The reasoning behind this challenge is to groom and nurture Professional students of Company Secretary (CS), Chartered Accountant (CA), Cost Accountant (CWA), & LL.B/B.L by recognizing their capabilities and providing a platform for knowledge sharing & enrichment.
OnlyThisMuch (OTM) will provide various opportunities to the participants (selected) and the winners, which inter alia includes:
1. Opportunity to write and contribute to OTM by co-authoring OTM books
2. Opportunity to undergo Training (15 months training as indicated in CS course)
3. Opportunity to become a faculty (part-time or full-time) at Learn Labz
4. WIN Cash prizes, gift vouchers & goody bags
Results & prize distribution will be on 1st May 2011, 6 PM onwards.
OTM Challenge Schedule Round I of OTM challenge
(commences on 1st Dec 2010 and closes on 28th Feb 2011 @ 6 PM)
Click here & Take the Challenge Now
100 winners from India will be handpicked for Round II of OTM Challenge!
Results will be declared on our blog http://onlythismuch.blogspot.com on 15th March 2011.
Keep your friends informed and Enjoy challenging...
The results of the CS Foundation Course, Intermediate and Final (Old Syllabus) and Foundation Programme, Intermediate/Executive Programme, and Professional Programme (New Syllabus) examinations of the Company Secretaries held in June, 2010 are scheduled to be declared at 12.00 Noon on 25th February, 2011 and it released on time.
Result is available on the following servers.
TAKE AWAY YOUR RESULT ON MOBILE - SMS
FINAL (OLD SYLLABUS) EXAMINATION DECEMBER 2010
SMS - Result<space>ICSIFINAL<space>ROLL NUMBER to 56263
Example: RESULT ICSIFINAL 123456 - Send it to 56263
FOUNDATION PROGRAMME (NEW SYLLABUS) EXAMINATION DECEMBER 2010
SMS - Result<space>ICSIFOUN<space>ROLL NUMBER to 56263
EXECUTIVE PROGRAMME (NEW SYLLABUS) EXAMINATION DECEMBER 2010
SMS - Result<space>ICSIEXEC<space>ROLL NUMBER to 56263
PROFESSIONAL PROGRAMME (NEW SYLLABUS) EXAMINATION DECEMBER 2010
SMS - Result<space>ICSIPROF<space>ROLL NUMBER to 56263
Candidates registered upto and including the month of Feburary in a year are eligible for appearing in both the groups of the Executive Programme or all 4 modules of Professional Programme examination held in June of next year. So, its mandatory for you to submit prescribed forms before 28th February 2011 to appear for all modules in December 2011. You shall also complete Student Induction Programme (SIP), Executive Development Programme (EDP) and Professional Development Programme (PDP). Details in http://yehseeyes.blogspot.com/2010/02/newcstrainingsipedpmsoppdpparttimeicsic.html
Before visiting the nearest ICSI office, make sure you are ready with following things:
Click here to register online for CS Executive Program Application -http://www.icsi.in and arrange for fees as per http://www.icsi.edu/LinkClick.aspx?link=http%3a%2f%2fwww.icsi.edu%2fwebmodules%2flinksofweeks%2fREVISION+OF+FEES.doc&tabid=528&mid=3166
Get to know your subjects and classes schedules at http://csclasses.learnlabz.com
Register for Computer Training with Aptech or produce your Certificates to write Exemption exam: www.icsi.aptechtrainingsolutions.com
Enroll for Student Induction Programme (SIP), a 7 full day program with ICSI which shall be completed within 6 months. Details in http://yehseeyes.blogspot.com/2010/02/newcstrainingsipedpmsoppdpparttimeicsic.html
Collect & preserve your Marksheets as per http://yehseeyes.blogspot.com/2010/06/preserve-your-mark-sheets-as-no-more-cs.html
Get your Bcom degree too BCom CS Executive & MCom CS Professional programme is possible -IGNOU & ICSI offers this mutli-degrees for Company Secretaries
Get your scholarship based on your school marks from 10&12th Standard Marks for 100% Company Secretary Course fees, says ICSI by Students Education Fund Trust scheme-60/75/90%
Start writing CC papers for eligibility Just write 1 CC paper for CS Executive/Professional/Foundation programme, instead of 3 CC papers per subject but to secure 40% marks and submit on or before August 2011.
Enjoy reading CS Executive Programme books Only This Much for Company, Economic, Labour & Securities Law from http://csbooks.learnlabz.com
Click here to register online for CS Executive Program Application -http://www.icsi.in OR Click here to download & fill CS Professional Program Application -http://www.icsi.edu/webmodules/student/final.doc and arrange for fees as per Apply for Executive Development Program (EDP) and find details from nearest ICSI -http://www.icsi.edu/webmodules/student/TopForm.doc (its a mandatory pre-requisite to commence CS Training). EDP is a 8 full day program offered at ICSI and your training will commence only on completion of this program. Details in http://yehseeyes.blogspot.com/2010/02/newcstrainingsipedpmsoppdpparttimeicsic.html
Collect & preserve your Marksheets as per http://yehseeyes.blogspot.com/2010/06/preserve-your-mark-sheets-as-no-more-cs.html
Then, start sending emails & applications of RESUME for CS Training to
For 15-month CS Training related information, you can visit http://yehseeyes.blogspot.com/2008/05/icsi-15-months-managementapprentice.html
Start looking out for Professional Development Programs (PDP) as its mandatory to attend for 25 hours or you have the option to register for National Convention of ICSI.
Get your Mcom degree too BCom CS Executive & MCom CS Professional programme is possible -IGNOU & ICSI offers this mutli-degrees for Company Secretaries
Get your scholarship based on your school marks from 10&12th Standard Marks for 100% Company Secretary Course fees, says ICSI by Students Education Fund Trust scheme-60/75/90%
Get to know your subjects and classes schedules at http://csclasses.learnlabz.com
Start writing CC papers for eligibility Just write 1 CC paper for CS Executive/Professional/Foundation programme, instead of 3 CC papers per subject but to secure 40% marks and submit on or before February 2011.
Enjoy reading CS Professional books for all law subjects @ http://csbooks.learnlabz.com
Collect & preserve your Marksheets & Pass certificates as per http://yehseeyes.blogspot.com/2010/06/preserve-your-mark-sheets-as-no-more-cs.html
Pending Training you are eligible for Licentiate Membership of ICSI -http://www.icsi.edu/webmodules/student/Licentiate.doc and you will get Chartered Secretary (Members magazine) free of cost.
Complete your CS Training or Claim exemption from it following http://yehseeyes.blogspot.com/2008/05/icsi-15-months-managementapprentice.html
Complete RoC Training or Stock Exchange training, if applicable. Send e-mail to training2@icsi.edu to get the sponsorship letter.
Complete 25 hours PDP's, 15 full days MSOP’s, etc… in http://yehseeyes.blogspot.com/2010/02/newcstrainingsipedpmsoppdpparttimeicsic.html
Then, apply for the esteemed membership of ICSI following, http://yehseeyes.blogspot.com/2009/01/checklistformsfeesguide-to-apply-for.html
Are you not satisfied with your CS results? then apply for Verification of marks (casually called revaluation or re-counting) within 30 days from today (ie) within 30 days from declaration of CS results. For more details, visit http://yehseeyes.blogspot.com/2009/02/revaluation-retotalling-cs-marks.html
Those who not able to clear CS Final in Old Syllabus. If you have not cleared CS Final in this attempt, then you have to mandatorily switch over to the New Syllabus for your next attempt and details of exemptions you will get can be found from http://thisisvj.googlepages.com/CSSyllabus.pdf. More details as below.
Enjoy passin... Of course, you can keep track of all updates, happenings and all about Company Secretaries by following http://yehseeyes.blogspot.com/and Get See Yes -> Yes, ACS delivered by email
All students who are pursuing CS Final are hereby informed that from next examination onwards ( i.e. June 2011 session onwards ) institute’s examination will be conducted under new syllabus only.
As such all concerned students may note that w.e.f. 26th February 2011 all students who are presently in Final ( old syllabus ) will be compulsorily switched-over to Professional Program ( i.e. under new syllabus ).
Students who have already passed any subject of Final ( under old syllabus ) may note that they will be eligible for exemption in corresponding subjects under new
syllabus as per details mentioned below :
|
| ||||
| Sl No | FINAL ( old Syllabus ) | Subject Code | PROFESSIONAL PROGRAM ( New Syllabus ) | Subject Code |
| 1 | Advanced Company Law and Practice ( ACLP) | 131 | Company Secretarial Practice ( CSP) | 231 |
| 2 | Secretarial Practice relating to Eco. Laws and Drafting & Conveyancing ( SPRELDC) | 132 | Drafting, Appearances and Pleadings ( DAP) | 232 |
| 3 | Secretarial, Management and System Audit ( SMSA) | 133 | Due Diligence & Corp. Compliance Mgt. ( DDCCM) | 237 |
| 4 | Financial, Treasury and Forex Management ( FTFM) | 134 | Financial, Treasury and Forex Management ( FTFM) | 233 |
| 5 | Corporate Restructuring Law and Practice (CRLP) | 135 | Corporate Restructuring and Insolvency ( CRI) | 234 |
| 6 | Banking and Insurance – Law and Practice ( BILP) | 136 | Governance, Business Ethics and Sustainability ( GBES) | 238 |
| 7 | WTO-International Trade, Jt. Venture and Foreign Collaborations ( WTO-ITJVFC) | 137 | Strategic Mgt, Alliances and International Trade ( SMAIT) | 235 |
| 8 | Direct and Indirect Taxation – Law and Practice ( DITLP) | 138 | Advanced Tax Law and Pracice ( ATLP) | 236 |
| 9 | Human Resources Mgt & Industrial Relations ( HRMIL) | 139 | Governance, Business Ethics and Sustainability ( GBES) | 238 |
CS Bulletin updation for Tax law (Assessment year & updates), Company law (Additional Filing Fees), Economic & Labour law (Competition law case) for June 2011 Company Secretaries exam as on February 2011. Do read for both Company Secretary Executive & Professional Programme exams.
ICSI Directorate of Academic & Professional Development
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The Commission found that these practices constituted abuse by Intel of its dominant position on the x86 CPU market that harmed consumers throughout the European Economic Area. By undermining its competitors ability to compete on the merits of their products, Intel’s actions undermined competition & innovation. The CCI has also ordered Intel to cease ongoing abusive practices immediately.
A brief analysis of Intel case under Competition Act, 2002:
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![clip_image018[12]](http://lh3.ggpht.com/_LqxdOyCO0zE/TVuSpKv74iI/AAAAAAAAFFU/r4S8wmKBYH0/s1600-h/clip_image018%5B12%5D%5B2%5D.gif "clip_image018[12]")
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Enjoy passing!!!
Students whose registration is valid up to February 2011 ( i.e. students registered in March 2006 ) are, however, eligible to appear in June 2011 Company Secretary examination without seeking extension of registration / registration de-novo subject to fulfilling other requirements as laid down in the regulations.
Enjoy passing.
All about CS: OnlyThisMuch. The information are given in detail hereunder for your complete understanding about Company Secretaryship Course or CS Course or ACS exams or by whatever name it is called. This will enable you to join ICSI and become a Company Secretary, a coveted corporate legal professional. If you are already a professional, do share this information to all for the benefit of budding students and Company Secretaries. Enjoy sharing.
Those students who are having e-mail address may communicate the same to the Student Services Section (giving reference of their name & registration no.) at naveen.kumar@icsi.edu, which will facilitate quick and economic communication from the Institute’s side. You will start receiving Student Company Secretary in email only if your correct email address is available with ICSI.
PIN CODE is required to be mentioned for quick delivery of the mail. Students may, therefore, check up the computerised mailing address as printed on the ‘Student Company Secretary’ bulletin. In case, it does not carry or carry the wrong PIN CODE number, the same may be intimated immediately quoting student registration number and full postal address with Postal Index Number so that it could be incorporated in the computerised mailing list.
As per the existing system, the Student Company Secretary Bulletin is dispatched by post to all active regular students on monthly basis.
Keeping in view the changing times, the Council of the Institute has decided that the Student Company Secretary Bulletin ( in physical form ) will be sent to the students on bi-monthly basis (once in two months), instead of on monthly basis, w.e.f. January 2011. However, the academic inputs as is being covered in the Student Company Secretary Bulletin will be uploaded on the website of the Institute, viz., www.icsi.edu and the same will also be sent through e-mail on monthly basis. With this arrangement, it is expected that the students will get updated contents promptly with the latest academic developments. All students are advised to take a note of it.
Enjoy registering, passing & practising.
CS Course details with Cut off dates details fees exemption de nova registration timelines & all about Comp...Source: http://www.scribd.com/full/47522720?access_key=key-ij6yvlnfihe1lm4899q or e-bulletin of Directorate of Student Services January2011 of ICSI
Learnlabz distributed Company Secretary Exam revision DVD’s outside CS Exam Centres at Chennai and it was nice to get students reviews out of the Exam hall.
We were glad that lot of CS exam writers used OnlyThisMuch books and thier feedback after writing the exams was remarkable.
Enjoy watching the same VIDEO online now…. (Playlist contains 8 videos)
Source: www.youtube.com/learnlabz or http://www.youtube.com/view_play_list?p=D7FE18DDD7B99345
Do share your listening and recapitulating experience!!!
OTM Challenge 2011 is on…Take your challenge now…
Enjoy passing.
The most memorable OnlyThisMuch book release event started with a blessing speech by our Mentor Mr. MRV who described OTM as an Indian Thaali and went on with Mr. Sreevathson releasing the book, followed by an awe-inspiring speech and what not of the joy….:)))
More Videos in http://www.youtube.com/onlythismuch
Photos of the event:
Enjoy all the videos together in a playlist from http://www.youtube.com/watch?v=FxWqN_ql4RM&feature&p=4761E2F32ABA5D49&index=0&playnext=1
Do say if you like it in http://www.facebook.com/pages/OnlyThisMuch/171985196164559
SEBI extends the role of its Regional offices to accept applications for public issues under ICDR regulations vide CIR/CFD/DIL/9/2010 dated 13th October 2010
SEBI, New Delhi office for Companies proposed to be listed in Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Uttar Pradesh, Chandigarh, Delhi & Uttarakhand
SEBI, Kolkata office for Companies proposed to be listed in Assam, Bihar,
Manipur, Meghalaya, Nagaland, Orissa, West Bengal, Tripura, Arunachal Pradesh, Mizoram & Jharkhand
SEBI, Chennai office for Companies proposed to be listed in Andhra Pradesh, Karnataka, Kerala, Tami Nadu & Puducherry
SEBI, Ahmedabad office for Companies proposed to be listed in Gujarat & Rajasthan.
At SEBI Bhawan, Mumbai.
Merchant Bankers are accordingly advised to file the draft offer documents / offer documents with the concerned office of SEBI, based on the estimated issue size accordingly.
Hope you would have got your Admit Card or Hall tickets for CS Foundation Programme, CS Executive Programme or CS Professional Programme exams by now.
The CS Admit Card issued by ICSI gives you the details of Roll Number, Examination centre and the details of the exams that you are allowed to write along with the Date of the Exams and the exemptions granted.
So, its the time to wish all the best!!! Just be confident of your preparations now, irrespective of how much you have studied. Just make sure, you spend 3 hours of your time for every exam with 100% concentration and every exam is independant of each other. The performance of one exam has connection to the performance in the other exam. So, simply give your best for each & every exam. Its Only This Much!!!
Refresh your exam knowledge by participating in Quiz from http://onlythismuch.blogspot.com
For those, who have not got the same, not to panic! there is a very easy way to download, which is valid for Exams too from ICSI site itself. Just you have to know your ICSI registration number. (Enter Either Registration number or Roll Number) 17 Digit Registration No (Third character is Zero and not "O") or 9 digit numbers followed by / month (2 digit) / year (4 digit) and you will get your Admit Card Extract.
Now, click here to get your Admit Card Click here to download ICSI Hall Ticket for December 2010 exams using http://www.icsi.edu:8888/AdmitCard/LoginScreen.aspx [New Website Link]
The other option would be log in to your www.icsi.in
COMPANY LAW EASY EXIT SCHEME under The Companies Act, 1956:
The Ministry of Corporate Affairs, has announced an EASY EXIT SCHEME to facilitate the defunct company to get rid of it. The scheme has made very simple for the exit of the defunct company without much effort.
In the normal circumstances closing of a company may take several years and may need to spent lakhs of rupees.
Please contact us immediately for filing the application, for closure of your defunct company, if any at the earliest and avail this golden opportunity.
The opportunity may come once in blue moon. So do ACT IMMEDIATELY and get rid of your defunct company once for all without any future litigation for non compliances.
The Scheme is valid from 1st January to 31st January 2011.
After the closure of the scheme, it is expected that ROC may take actions on those companies who continue to default the compliances.
Take the opportunity immediately.
For assistance, you may also contact:
044-24340416
Reach us @ 7/13, South Boag Road, T.Nagar, Chennai, 600017
Mail us: solutions@lawlabz.com
Keep closing!!!
