Liquidity enhancement schemes permitted with board approval, transparent incentives, monitoring and disclosure, and capped exchange-level incentives.
Liquidity enhancement schemes for illiquid equity derivatives may be introduced for specified low volume or new securities, subject to prior Board approval, quarterly Board monitoring, objective non-discriminatory rules for liquidity enhancers, performance linked and transparently measurable incentives, advance public disclosure and monthly dissemination of incentive and volume outcomes by liquidity enhancer and security.

Bank Guarantee renewal: require specific customs file or section reference to ensure correct routing and avoid administrative delays.
Renewal and extension communications for Bank Guarantees must include the specific customs file number or relevant section/group designation so banks can route guarantees correctly; applicants or their representatives should provide that section name to the bank at the time of application to ensure incorporation on the guarantee or renewal letter, thereby preventing delays in locating the appropriate section and in assessment, follow-up and enforcement. Implementation difficulties may be reported to the Commissioner.

Input eligibility expanded to include alloy and non alloy HR coils/plates, with export description amended accordingly.
The SION is amended to permit HR coil/plates made of alloy steel as well as non alloy steel at Sl. No. 1, and the export description is revised to allow Non Alloy/Alloy Steel submerged arc welded pipes or hot formed steel bends; no other changes to permitted inputs or quantities are made.

Public financial institution designation requires corporate form and predominant industrial or infrastructure financing for government notification.
Entities seeking declaration as a public financial institution under section 4A must be established under a Central Act or the Companies Act, have industrial or infrastructure financing as their principal business with financial statements showing predominant income from that activity, meet a prescribed net worth threshold, or be registered as an Infrastructure Finance Company or Housing Finance Company with the appropriate regulator; CPSUs and SPSUs are exempt from sectoral financing and net worth restrictions.

PPF interest entitlement clarified - HUF accounts closed after maturity but before scheme amendment may receive PPF rate interest.
Interest at the PPF rate is to be paid on HUF Public Provident Fund accounts that attained maturity after restriction of new HUF accounts but were closed by subscribers before the later scheme amendment, where deposits were retained beyond maturity without further subscriptions and the accounts were not extended thereafter.

Warehousing extension for non-deteriorating imports may be granted for longer periods where condition and interest realisation are assured.
The proviso to Section 61 permits extensions of warehousing for goods not likely to deteriorate, with Chief Commissioners empowered to grant further periods as they deem fit. Circular No. 47/2002 allows Commissioners limited extensions and directs that Chief Commissioners may grant additional extensions, generally in short increments, provided goods will not deteriorate and interest accrued has been realised. For categories including imports for shipbuilding and manufacture-in-bond units, Chief Commissioners may consider granting longer extensions than routine increments when satisfied about condition and interest realisation, subject to the overall maximum warehousing period under Section 61.

Committee review for write-off of irrecoverable tax arrears enables delegated authorities to recommend and effect write-offs.
Three-member Committees at Chief Commissioner and Commissioner levels will examine proposals submitted in the prescribed Annexure A proforma and recommend write-off of irrecoverable Customs and Central Excise arrears to the competent authority. The Board delegates powers to abandon fines and penalties and to write off duties within prescribed monetary limits, subject to reporting; duty write-off automatically extinguishes related interest. Service Tax write-offs await DFPR amendment.

Corporate filing compliance: registrars will refuse event filings from companies not filing annual accounts and returns.
Registrars shall not accept any request, whether oral, written or electronic, for recording event-based changes from companies that have not filed their updated Balance Sheet, Profit & Loss Account and Annual Return with the Registrar of Companies; specified essential forms (including director appointments, annual returns, DIN intimations, court notices, balance sheet/P&L filings, auditor information, compliance certificates and investor complaint forms) remain acceptable. Directors' e-filings for other companies will be blocked, company secretaries and auditors cannot certify filings for defaulting companies in the electronic system, professional bodies must withhold certificates except for permitted forms, and enforcement may be taken in coordination with other regulators; exceptions apply where filings are prevented by court or management dispute.

Continuous port operations enabled for round the clock customs clearance and vessel boarding to streamline export handling.
Allocation of staff to enable 24x7 operations at MP&SEZ, Mundra Port permits round the clock clearance of factory stuffed export containers sealed by Central Excise and continuous boarding operations, including arrival/departure clearances and loading of export goods in docks and at anchorage. Trade associations and agents are directed to publicize the notice and report implementation difficulties to the Commissioner.

SEZ approvals and denotifications subject to refund of tax benefits, DC certification and committee oversight on co developer ring fencing.
The Board resolved on SEZ approvals, denotifications, authorized operations, co developer requests and extensions, imposing conditions including DC certification of refund of tax/duty benefits before denotification, Assessing Officer scrutiny of co developer receipts under the Income Tax Act, and deferred several proposals pending DC comments or multi agency committee review. Authorized operations approvals were subject to EGoM development guidelines and DC certification of operational necessity. Co developer cases prompted constitution of a committee (JS(SEZ) with CBDT and CBEC) to devise ring fencing to prevent shifting of capital goods or double dipping. Extensions of formal approvals, LoPs and in principle approvals were routinely granted or rejected based on implementation progress.

Director Identification Number compliance requires mandatory identity and PAN filing, digital professional attestation, and online approval.
Director Identification Number allotment requires applicant name, father's name, date of birth, PAN for Indian nationals and passport for foreign nationals. From 12 June 2011, DIN-1 and DIN-4 must be digitally signed and verified by a practicing Chartered Accountant, Company Secretary or Cost Accountant and will be approved online. Existing DIN holders who did not supply PAN must file DIN-4 to furnish PAN by 30 September 2011, or their DIN will be disabled and they will face penalty liability.

Depreciation rules for electricity companies dictate using regulator notified rates and methodology to compute distributable profits for dividends.
For companies engaged in generation or supply of electricity, depreciation for computing profits available for dividend under Section 205 must follow the rates and methodology notified under the Electricity Act and by CERC where inconsistent with Schedule XIV; adherence to the CERC framework constitutes sufficient compliance with Section 205 for entities covered by Section 616(c).

Adjudication limits for customs officers revised; cases allocated to appropriate officer levels under new thresholds.
Revision establishes tiered adjudication authority for Show Cause Notices under section 28 of the Customs Act: Commissioners have unlimited jurisdiction; Additional/Joint Commissioners and Deputy/Assistant Commissioners have intermediate and lower monetary competence respectively. Separate rules apply for drawback and Export Promotion Schemes-simple erroneous drawback demands remain with Deputy/Assistant Commissioners; collusive or wilful cases are escalated to Additional/Joint Commissioners; export incentive adjudications follow a similar tiered allocation. Completed personal hearings remain with the presiding adjudicator; pending matters and records must be transferred to appropriate authorities under the revised scheme.

Deputation appointment for Deputy Development Commissioner: applications invited with prescribed eligibility, clearances and documentation within the stipulated period.
One post of Deputy Development Commissioner in Cochin SEZ is to be filled on deputation; eligible Central/State officers holding analogous posts or meeting prescribed service criteria and with experience in foreign trade or industrial development may apply. Applications must be submitted in the prescribed proforma within the stipulated time with five years' confidential reports, integrity certificate, vigilance clearance, and penalty details. Appointment is on deputation for the ordinarily prescribed term, with option to draw grade pay plus deputation allowance per the referenced DoPT order, and duties include project scrutiny, licensing work, intergovernmental coordination and general administration.

24x7 port operations enable round-the-clock export formalities, vessel boarding and cargo loading to facilitate continuous trade movement.
Continuous port operations authorize importers, exporters and customs agents to submit bills of entry, shipping bills and other customs documents at any hour, while export activities - boarding and clearance of arriving and departing vessels and loading of export goods in docks and at anchorage - will be undertaken on a 24x7 basis; trade participants are invited to report any operational difficulties to the Commissioner.

Electronic payment requirement for MCA fees updated; limited challan exceptions allowed for specified user categories and fund payments.
With effect from 29-5-2011 challan-mode payment for amounts below the prescribed threshold is permitted in three cases: payments to the Investor Education and Protection Fund via 'Pay Misc. Fee'; payments by users categorized as Official Liquidator offices; and payments by users categorized as MCA employee, as a partial modification of the earlier electronic-only requirement.

Overseas direct investment liberalisation expands permitted guarantees, write-offs, disinvestments and reporting requirements under FEMA.
Performance guarantees will be reckoned at fifty per cent for computing an Indian party's financial commitment and may be valid for the contract period, with similar reporting as financial guarantees and prior central bank approval if invocation breaches exposure limits. Indian promoters with controlling stakes may write off capital and receivables within prescribed routes and limits, report such actions within thirty days with certified loss balance sheets and five-year projections, and disinvestments with repatriation shortfalls are allowed for specified promoter categories under the Automatic Route with reporting. Corporate guarantees for first-generation step-down subsidiaries are permitted under general permission; deeper guarantees require approval where majority stake exists.

Bonus benefit to silk carpets expanded to include ITC HS code 57019090 when shipping bill cites drawback code 570102.
An amendment adds ITC HS code 57019090 with drawback code 570102 to the Focus Product Scheme list of silk carpets eligible for bonus benefits; the bonus will be granted only if the shipping bill mentions drawback code 570102, thereby treating such exports as within the scheme's scope.

Deputation and promotion eligibility for Development Commissioner post: criteria, service conditions, application process and deputation limits.
The Development Commissioner, Cochin SEZ post will be filled by promotion/transfer on deputation from eligible All India and Central Services Group 'A' officers or specified Central Government officers meeting substantive-post or pay-band service criteria and possessing relevant experience in industrial development, foreign trade, estate development and administration. Applications must be advertised for thirty days, forwarded to the Department of Commerce, and submitted with a prescribed proforma and a head-of-department certificate; deputation tenure and maximum age limits apply, and departmental feeders and deputationists are mutually ineligible for the alternative route.

Deputation appointment rules: vacancy to be filled with specified qualifications, documents and fixed-term deputation with allowance option.
Filling one post of Deputy Development Commissioner in Noida SEZ on deputation, carrying specified pre-revised/revised pay scales. Eligibility requires holding analogous posts or defined years of regular service in stated pay scales and experience in foreign trade or industrial development; departmental feeder rules and mutual exclusivity of deputation and promotion are noted. Applications (in duplicate) must be forwarded within the prescribed period with five years' confidential reports, an integrity certificate, vigilance clearance and penalty details. Appointment is by transfer on deputation for the ordinarily prescribed period with an option to draw grade pay plus deputation allowance; core duties include project scrutiny, policy/licensing work, state coordination and general administration.