The Reserve Bank of India wide its Circular RBI/2012-13/173 A. P. (DIR Series) Circular No. 16 dated August 22, 2012 has allowed a person who is a citizen of Pakistan or an entity incorporated in Pakistan, with the prior approval of the Foreign Investment Promotion Board of the Government of India, purchase shares and convertible debentures of an Indian company under Foreign Direct Investment Scheme, provided that such FDI is not allowed in defence,space and atomic energy and sectors/ activities prohibited for foreign investment.
Wednesday, August 22, 2012
Monday, July 2, 2012
CCI Chairman Reveals it
The Chairman of Competition Commission of India, Mr. Ashok Chawla
reveals the following information to the media, reports Business Standard.
- CCI has initiated a suo motu inquiry against milk retailers for frequent price rise;
- Further, Real estate, pharmaceuticals, aviation, telecom and tyre industries are on its radar;
- The inquiry against tyre companies is in an advanced stage and a decision is expected soon;
- CCI hinted that it would take note of the increase in petroleum prices by oil companies;
- A proposal has been mooted to form a cabinet committee on competition under the chairmanship of the prime minister to overcome the disconnect between the government policy and competition law;
- CCI has so far investigated about 267 matters relating to violation of Section 3 and 4 out of which final order has been issued in 200 cases imposing penalty when needed. The cases are mainly from the sectors like insurance, automobiles, real estate, pharmaceuticals, financial services and the entertainment industry.
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