• MINISTRY OF CIVIL AVIATION

Notification No. GSR597(E) Dated 02.08.2011 Airports Authority of India (Major Airports) Development Fees Rules, 2011

Central Government has notified Airports Authority of India (Major Airports) Development Fees Rules, 2011 for the collection of development fees and the utilization of that fees.

• SECURITIES AND EXCHANGE BOARD OF INDIA

Circular No. CIR/ IMD /DF / 14 /2011 Dated 09.08.2011 Investment by Foreign Investors in Mutual Fund Schemes

In consultation with the RBI, SEBI has decided to permit foreign investors who meet KYC requirement to invest in equity and debt schemes of Mutual Funds through direct route and indirect route subject to the conditions specified therein.

Circular No. CIR/MIRSD/15/2011Dated 02.08.2011 Guidelines on SMS and E-mail alerts to investors by stock exchanges

SEBI has issued the guidelines regarding SMS and E-mail alerts to investors by stock exchanges. Accordingly, stock exchanges are required to send SMS and E-mail alerts to the investors subject to the guidelines issued therein.

Circular No. CIR/MIRSD/14/2011 Date : 02.08.2011 Revised procedure for seeking prior approval for change in control through single window

With a view to expedite the process of granting prior approval, SEBI has decided to adopt a 'single window clearance at SEBI', for the intermediaries in case of multiple registrations with SEBI. Accordingly, it has prescribed the revised procedure.

Circular No. CIR/MIRSD/13/2011 Dated 02.08.2011 Processing of Investor Complaints in SEBI Complaints Redress System (SCORES)

SEBI has clarified the processing of investor complaints in a centralized web based complaints redress system 'SCORES' and has issued directions thereon and henceforth all complaints shall be forwarded electronically through SCORES only.

Circular No. Cir/IMD/DF/12/2011 Dated 01.08. Indicative portfolio or yield in close ended debt oriented mutual fund schemes

In order to enable investors to make a more informed decision regarding the quality of securities & risk associated with different close ended debt oriented schemes, SEBI has decided to permit Mutual Funds to make certain additional disclosures without indicating the portfolio or yield

• MINISTRY OF CORPORATE AFFAIRS

Circular No. 59/2011 Dated 05.08.2011 Company Law Settlement Scheme, 2011

In order to provide an opportunity to defaulting companies to enable them to make their default good by filing such belated documents, MCA has introduced the Company law settlement scheme, 2011, condoning the delay & granting immunity from prosecution.

Master Circular No. 1/2011 Dated 29.07.2011

Master Circular on Prosecution of Directors - Regarding

MCA has released the master circular regarding prosecution of directors consolidating circulars previously issued by the ministry on the subject.

• MINISTRY OF FINANCE

CBEC Customs Non Tariff

Order from file No . 437/13/2011-Cus. IV Dated 05.08.2011 Assigns the specified Show Cause Notice to the Commissioner of Customs, Inland Container Depot, for the purpose of adjudication

Show Cause Notice has been assigned by Additional Director General, Directorate of Revenue Intelligence, I.P. Estate, New Delhi in the case of M/s Donyi Polo Timbers to the Commissioner Customs, Inland Container Depot, Tughlakabad, New Delhi for the purpose of proper adjudication

Notification No. 56/2011-CUSTOMS (N.T.) Dated : 02.08.2011 Amendment to the Notification No. 16/2011-Cus (N. T.), Dated, the 1st March, 2011

Central Government has amended Notification No. 16/2011-Cus (N. T.), Dated, the 1st March, 2011. In the said notification, in the Table, (i) against S.No.1, for the entry in column (4), "Filter rod, Pharmaceutical products of Chapter 30" shall be substituted and (ii) against S.No.2, for the entry in column (4), " Filter cigarette, Pharmaceutical products of Chapter 30" shall be substituted.

Notification No. 55/2011-CUSTOMS (N.T.) Dated : 01.08.2011 Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic Partnership Agreement between the Republic of India and Japan) Rules, 2011

Central Government has made Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic Partnership Agreement between the Republic of India and Japan) Rules, 2011 for trade between India and Japan.

• INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY

Circular No. IRDA/F&I/CIR/INV/173/08/2011 Dated 29.07.2011 (1) ULIP - Fund Approval Procedure and (2) NAV Process - Reg

In the process of standardizing the procedure of File & Use applications for Unit linked Products of Life Insurers, IRDA has issued the instructions on Fund Approval Procedures and 'Net Asset Value (NAV) Process' for the ULIP Funds, which is to be followed by life insurers

• RESERVE BANK OF INDIA

DBOD

Circular No. DBOD.No. BP.BC. 27/21.04.157/2011-12 Dated 02.08.2011 Comprehensive Guidelines on Derivatives: Modifications

Guidelines have been issued regarding suitability and appropriateness policy for offering of derivative products to users, as outlined in paragraph 8.3 of the said circular, have been reviewed in the light of experience gained in implementation of the guidelines over last four years.