Minerals (Other than Atomic and Hydro Carbons Energy Mineral) Concession (Fourth Amendment) Rules, 2021.
The amended penalty for contravention of these rules is imprisonment for a term which may extend to two years or with fine which may extend to rupees five lakhs, or with both, and in the case of a continuing contravention, with additional fine which may extend to rupees fifty thousand for every day during which such contravention continues after conviction for the first such contravention.
Spices Board (Registration of Exporter (Amendment) Regulations, 2021
The amendment provides that every applicant for certificate of registration as exporter of spices shall notify Spices Board, of each establishment or unit under its control that carries out any of the stages of warehousing, processing, value addition etc of spices for export and shall also ensure that the Board always has up-to-date information on such establishments, including any significant change in activities and any addition or closure of an establishment or unit.
BSE notifies SOP for Listed companies in Scheme of Arrangements.
The Scheme of Arrangement seeking Stock Exchange’s NOC under Regulation 37 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’) shall be submitted to the Exchange along with all the documents as per the Exchange Checklist within 15 working days of board meeting approving the draft scheme of arrangement. In case the application is not submitted within 15 working days, the company shall take fresh approval from its board considering fresh financials, valuation report, etc.
Government of Andhra Pradesh extends the grace period for payment of motor vehicle tax.
The Governor of Andhra Pradesh has hereby ordered that no penalty shall be levied under Section 6 of the Andhra Pradesh Motor Vehicle Taxation Act, 1963 , if the Motor Vehicles Advance Tax due for payment by 31.10.2021 quarter ending 31-12-2021 under Section 4 of the said Act in respect of Motor Transport Vehicles is paid on or before 30-11-2021.
RBI revises the Prompt Corrective Action (PCA) Framework for Scheduled Commercial Banks (SCBs).
The PCA Framework would apply to all banks operating in India including foreign banks operating through branches or subsidiaries based on breach of risk thresholds of identified indicators.
RBI issues master circular on Guarantees, co-acceptances and letter of credit for Urban co-operative banks.
UCB shall confine their guarantees to relatively short-term maturities. Guarantees should not be issued for periods exceeding ten years in any case. The total volume of guarantee obligations outstanding at any time may not exceed 10 per cent of the total owned resources of the bank comprising paid up capital, reserves and deposits.
