Corporatisation and demutualisation of stock exchange approved; requires segregation of trading rights, public shareholding and voting cap.
SEBI approved a scheme for corporatisation and demutualisation requiring re-registration of the exchange as a company limited by shares, segregation of ownership and trading rights, vesting of all assets and liabilities in the successor company, allotment of equity shares to identified members, limits on trading-member representation on the Governing Board, uniform standards for admission as Trading Members, transitional clearing arrangements pending transfer to a clearing corporation, mandated public shareholding and voting restrictions for trading-member shareholders, embedding of scheme provisions in constitutional documents, and ongoing compliance and reporting to SEBI.

Demutualisation separates ownership and trading rights, imposing governance and shareholding limits to protect public interest.
SEBI approved CSEA's Demutualisation Scheme requiring segregation of ownership and trading rights, amendment of corporate documents, uniform admission standards for Trading Members, Governing Board composition limiting Trading Member representation to one fourth and the Chief Executive as ex officio director, a continuous public shareholding of at least 51%, a five percent cap on voting rights of shareholder Trading Members, transfer of clearing functions to a recognized Clearing Corporation within the stipulated period, restrictions on use of assets and reserves, and mandatory compliance reporting to SEBI.

Demutualisation: trading members' voting capped and majority public shareholding required, with governance and compliance conditions.
Approval is given for demutualisation of DSE under Section 4B with a Scheme requiring segregation of ownership and management from trading rights, incorporation of Scheme provisions into corporate documents, and SEBI's power to modify the Scheme. Governing Board composition limits trading member representation to one fourth and allows SEBI nominations; trading members and shareholders may be distinct; public must hold at least 51% of equity and trading member shareholders' combined voting rights are capped at 5%. Clearing functions must transfer to a recognized Clearing Corporation within two years, asset/reserve use is restricted to liabilities and exchange operations, and DSE must report compliance to SEBI.

Retrospective Amendment: Para 3 of the rice bran notification now applies retroactively under the foreign trade framework.
Para 3 of Notification No.9 (RE 2005)/2004 2009 relating to De oiled Rice Bran is amended to have retrospective effect from 01.09.2004 pursuant to powers under Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 read with paragraph 1.3 of the Foreign Trade Policy, 2004-2009; the amendment is recorded as issued in the public interest.

Exchange rate determination for export goods set effective in September; specified foreign currencies converted into Indian rupee.
The Board prescribes the rate of exchange for conversion of specified foreign currencies for export goods effective 1st September, 2005, superseding the earlier July notification; Schedule I lists unit rates for major currencies and Schedule II lists the rate for Japanese Yen per one hundred units, with operative exchange values set against each currency.

Exchange Rate Determination for imported goods by government: specified currency conversion rates set, superseding prior notification.
The notification fixes exchange rates for specified foreign currencies to be used for conversion into Indian rupees for imported goods under section 14(3)(a)(i) of the Customs Act, supersedes the prior notification, and makes the scheduled rates the operative conversion factors for customs valuation until further notice.

Research donation deduction approval requires separate research accounts, audited returns and auditor certification for donor-eligible receipts.
Approval is granted to Himalayan Institute Hospital Trust for purposes of research donation deductions, subject to maintenance of separate research accounts, submission of audited Income and Expenditure accounts for each approved year to the relevant tax officer by the later of the return filing due date or the notification period, and furnishing an auditor's certificate specifying amounts received eligible for donor deduction and certifying that expenditure was for scientific research.

Port designation: Tuticorin added for loading and unloading under export promotion schemes, amending existing customs notifications.
Amending notifications substituting the words "Surajpur, Dadri and Tuticorin" for existing references to "Surajpur and Dadri" in specified conditions of multiple customs exemption notifications, thereby extending port authorisation for loading and unloading under export promotion schemes; enacted under sub-section (1) of section 25 of the Customs Act and to take effect on publication in the Official Gazette.

Excise non-recovery for newsprint in reels permitted where tariff definition and clearance conditions were met during the specified period.
Central Government directed that excise duty not levied on newsprint in reels under Chapter 48 during a specified historical period is not required to be paid, provided the goods met the tariff definition of newsprint and the clearances complied with prescribed procedural conditions for duty-free clearance.

Renewal of recognition granted to OTC Exchange of India under securities law for limited period of regulated operations.
The Securities and Exchange Board of India exercised its statutory power to renew recognition of OTC Exchange of India, authorising it to deal in contracts in securities for a limited, time bound period, having been satisfied that renewal served the interests of trade and the public; the renewal is subject to conditions that may be prescribed or imposed during the renewed recognition period.

Amendment to ITC(HS) classifications corrects wording to 'live pig and pig meat products' in the import condition.
Amendment to ITC(HS) classifications corrects a typographical error in Condition No.16 of Chapter IA by revising Sl. No.(vi) to read "live pig and pig meat products" instead of the previously recorded erroneous phrase; the change is an administrative textual correction issued in the public interest under the statutory powers and the Foreign Trade Policy framework.

Approval under Section 35(1)(ii): donors' deduction permitted subject to separate research accounts and auditor certification.
Approval under Section 35(1)(ii) is granted to The Voluntary Health Services, Chennai as an institution partly engaged in research for 1-4-2003 to 31-3-2006, subject to conditions: maintain separate accounts for research; submit audited Income and Expenditure accounts for research each approved year to the Commissioner/Director by the income tax return due date or within 90 days of the notification, whichever is later; and supply an auditor's certificate specifying amounts received for scientific research eligible for donor deduction and certifying that expenditure was for scientific research.

Approval under Section 35(1)(ii) requires separate research accounts, audited filings, and auditor certification for qualifying donations.
Banaras Hindu University is approved as an eligible university partly engaged in research for donor deductions; it must maintain separate research accounts, file audited Income and Expenditure accounts for each approved year by the return filing due date or within ninety days from the notification, and include an auditor's certificate specifying amounts received for qualifying scientific research and certifying that expenditures were for scientific research.

Special Economic Zone designated for information technology in Chandigarh; land parcels specified under central notification.
Central Government notification designates a Special Economic Zone for Information Technology at Chandigarh, identifying specific land parcels by Khasra numbers and Kanal/Marla extents, and recording the aggregate area as approximately one hundred and eleven acres, issued as S. O. 1141 (E) dated 17-08-2005 by the Ministry of Commerce and Industry.

Special Economic Zone designation enables electronics manufacturing, R&D and related services at Sriperumbudur under a formal land notification.
Central Government notified a Special Economic Zone at Sriperumbudur, Tamil Nadu, for M/s. NOKIA India Pvt. Ltd. to permit manufacture and assembling of electronics, telecommunications and IT hardware and to allow associated software development, research and development activities and telecommunication services; the notification lists specific survey parcels and records the aggregate notified area as 85.375 hectares and notes later de notifications of parts of the area.

Self-assessment eligibility expanded: eligible dealers may be assessed on returns without prior enquiry under a summary assessment scheme.
Notification permits eligible registered dealers to be assessed on the basis of their returns without prior enquiry under a summary assessment scheme; eligibility is tied to gross turnover below a specified threshold or dealing in tax-exempt or export sales, subject to filing Form ST-11A with prescribed enclosures and to exclusions for dealers with adverse material, newly registered dealers, closing businesses, businesses involving previously convicted persons, or those defaulting on interest for late returns.

Summary assessment scheme eligibility for works contractors clarified; government-contractors may opt for composition and file Form XIII.
Summary assessment under the Delhi Sales Tax on Works Contract Act, 1999 creates a self-assessment route for contractors who have undertaken government contracts and opted for the composition scheme, applying provisions of the Delhi Sales Tax Act, 1975 to returns, assessment and confidentiality. Eligible contractors must file Form XIII with prescribed enclosures to designated Nodal Officers and will receive an acknowledgement receipt-cum-assessment order. Specific categories of contractors are excluded, and furnishing incorrect accounts or information is an offence attracting penal action.

Duty drawback rate announced for high speed diesel supplies to export-oriented units, effective until further orders.
Announcement establishes a Duty Drawback Rate of Rs. 1025 per metric tonne for High Speed Diesel supplied by domestic oil companies to Export Oriented Units and Special Economic Zone units under the export incentive schemes in Chapters 6-8 of the Foreign Trade Policy, effective until further orders and issued under paragraph 2.4 of the Foreign Trade Policy 2004-09.

Tax exemption recognition under section 10(23C)(iv) requires exclusive charitable application, permitted investments, and return filing.
Notification under section 10(23C)(iv) notifies Indian Merchants Chamber, Mumbai for AY 1998-99 to 2000-01 subject to conditions: apply or accumulate income wholly and exclusively to its objects; invest or deposit funds only in forms specified in section 11(5) (excluding certain voluntary contributions held as jewellery or furniture); treat business income as taxable unless incidental and maintained in separate books; regularly file returns under the Income-tax Act; and on dissolution transfer surplus and assets to a charitable organisation.

Tax exemption notification grants charitable status to Victoria Technical Institute for specified assessment years subject to compliance conditions.
Notification under Section 10(23C)(iv) authorises Victoria Technical Institute for assessment years 2002-03 to 2004-05 subject to conditions: income must be applied or accumulated wholly for its objects; investments restricted to permitted modes (excluding certain voluntary tangible contributions); business income excluded unless incidental and separately accounted; regular filing of returns required; and surplus/assets on dissolution must be transferred to a charitable organisation.