Corporate Updates – 28-08-2014

Department of Industrial Policy & Promotion:

The Government of India has reviewed the FDI policy with regard toFDI in Defence Sector and amended certain paragraphs of the consolidated FDI Policy Circular 2014. In the I & B sector where the sectoral cap is less then 49%, the company would need to owned and controlled by the resident Indian citizens and Indian Companies, which are owned and controlled by resident Indian citizens. Further the limits for FDI in Defence Industry subject to Industrial Licence under IDRA have been raised from 26% to 49% under Government Route and for above 49% approval of cabinet committee will be required.


The Central Government has issued Guidelines for considering request for exemption from payment of Customs Duty under Section 25(2) of Customs Act, 1962. The Central Government has provided exemptions from payment of duty of customs for import of specified goods for charitable purposes and for specified organizations engaged in relief & rehabilitation In view of the various requests received seeking grant of exemption from time to time and after due consideration to the existing general exemptions, the revised guidelines are issued for considering the pending and future requests for exemption under Section 25(2) of the Customs Act, 1962, in suppression of the previous guidelines.

Corporate Updates 9 July 2014

Industrial License: 

Government of India issues guidelines for extension of Initial validity of Industrial License from 2 years to 3 years to streamline the procedure for grant of Industrial Licenses as a measure for ease of doing business. These new guidelines are applicable for extension of validity of Industrial license in cases where the license holder has not commenced production of the items within three years of issue of license. The applicants fulfilling the all the prescribed guidelines may be granted extension of Industrial License with the approval of concerned Joint Secretary of the Administrative Ministry without referring the application to Licensing Committee. To view and download the revised Guidelines, please Click Here.


SEBI with a view to guide market participants on SEBI (Foreign Portfolio Investors) Regulations, 2014 has prepared FAQs on laws governing the Foreign Portfolio Investors (FPI). For full particulars of laws, stakeholders are requested to refer to the Acts / Regulations / Guidelines / Circulars etc. appearing under the Legal Framework Section of SEBI website i.e. Any queries about the FPI Regime can be addressed to the Investment Management Department, SEBI.

Corporate Updates 02 May 2014

Minimum Wages in Delhi: 

The NCT of Delhi has revised the Minimum Wages payable from 1st April, 2014 to the unskilled, semi-skilled and skilled workers as per the details furnished below:

Category Previous Revised w.e.f. 1/04/2014
Unskilled 8086 8554.00
Semi-skilled 8918 9438.00
Skilled 9802 10374.00
Clerical and Supervisory Staff
Non-matriculates 8918 9438.00
Matriculate but not graduate 9802 10374.00
Graduate and above 10686 11310.00

To view & download the circular, please Click Here.

Revenue Department – Delhi: 

Revenue Department has issued an Order stating that all sub registrar Offices shall accept documents for Registration upto 3;00 pm on all working days as the general public is facing problems in getting their documents registered due to the online appointment system is giving appointment for next 15-20 days.

Corporate Updates 17 April 2014

Labour Laws: 

In the case Kakali Ghosh Versus Chief Secretary, Andaman & Nicobar Administration And Ors. (Supreme Court), Civil Appeal No. 4506 Of 2014, Date- 15.04.2014, the Hon’ble Supreme Court has held that the woman government employee’s having minor children below 18 years can avail Child Care Leave (CCL) for maximum period of 730 days at a stretch i.e. during the entire service period for taking care of upto two children. The care of children is not for rearing the smaller child but also to look after any of their needs like examination, sickness etc. As per Sub Rules (3) and (4) of Rule 43-C of the Central Civil Services (Leave) Rules, 1972 it is clear that CCL even beyond 730 days can also be granted by combining other leave if due with CCL to any women employee.


RBI amends FDI norms for Pharmaceuticals and empowers Government to specify terms and to incorporate appropriate conditions for FDI in brownfield cases, at the time of granting approvals and ‘Non-compete’ clause would not be allowed except in special circumstances with the approval of the Foreign Investment Promotion Board. FDI in Greenfield will be 100% Automatic and in Brownfield with 100% Government approval. To view and download the notification, please Click Here.