The Exchange (NSE), in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Escorts Ltd has vide its letter inter-alia stated, “No official communication was given by us to anybody on the above matter. Further, we deny any such news”.
Shri Kamal Nath, Union Minister of Commerce and Industry and Mr. Akira Amari, Minister of Economy, Trade and Industry of Japan today signed the Memorandum of Understanding (MoU) between India and Japan for cooperation in the field of Intellectual Property Rights at Tokyo.
Capacity building, human resource development and public awareness programmes are the three main areas of cooperation covered in the MoU. Information exchange and experience sharing are also envisaged in the agreement.
Both countries will draw up Annual Action Plans to implement the MoU which will include the detailed planning for carrying out of the co-operation activities including the scope of the action. It is hoped that the MoU will go a long way in fostering the cooperation between India and Japan.
The MoU follows the Joint Statement towards Japan-India Strategic and Global Partnership made by Prime Minister Dr. Manmohan Singh and Prime Minister Mr. Shinzo Abe on 15th December, 2006 which confirmed the willingness of the two Governments to continue to co-operate in capacity building activities in intellectual property, including in developing human resources.
The Annual supplement to the Foreign Trade Policy released in April, 2007 had stated that service tax on exports shall be exempted. Various newspapers have been reporting that differences persist between the Finance and Commerce ministries on this issue.
On the issue concerning rebate or refund of service tax paid on various input services used for goods or services exported, it is hereby clarified that there are no differences between the Finance and Commerce Ministries and this decision was taken with the approval of the Commerce Minister, the Finance Minister and the Prime Minister. The taxes paid on inputs or input services used for manufacture of export goods or for providing export services are already being neutralized under rebate, refund and drawback schemes. However modalities for refund/rebate service tax on certain services, which are not input services, but are related to goods or services exported from India, and to neutralize service tax on services received/rendered abroad are being worked out in consultation with the Department of Commerce.
For all the assessees paying excise and service tax to the tune of Rs. 50 lakh and above per annum, it will be mandatory to make the payment through e-mode from 1st April, 2007. This was disclosed by the Finance Minister, Shri P. Chidambaram while launching the Electronic Accounting System in Excise and Service Tax (EASIEST) here today. Corporates are already familiar with the e-payment mode of the income tax.
Stating that e-payment is the most convenient method for payment of excise & service tax, Shri Chidambaram said that in course of time everyone will be required to use the e-payment mode. The ultimate goal is the data collection synergy in direct and indirect taxes. The Finance Minister urged the manufacturers and industry businesses to pay excise duty correctly and punctually as the evasion of duty do not pay in the long run. He said we have deterrent measures to stop duty evasion and also soft measures to help the honest payers.
The Central Board of Excise and Customs in association with Principal Chief Controller of Accounts, Reserve Bank of India and 28 Scheduled Banks has introduced a simplified electronic accounting system for central excise and service tax payments called EASIEST. The scheme is conceptualized to address the weaknesses in the existing tax accounting system, which is a manual system. The manual system required the taxpayer to file four copies of Challan. EASIEST would require only a single challan for payment of Central Excise and Service Tax. It would capture all the essential information required from the assessee in relation to his tax payments.
EASIEST uses the electronic environment for expeditious transmission of tax information, so as to ensure greater accuracy and reliability of tax payment data. As part of the ongoing e-governance initiative of the Government of India, it is also proposed to reconcile the data so captured from the single challan with the tax returns filed by central excise and service tax assesses. It would be uploaded and hosted on a central database for excise and service tax as part of the Automation Project in Excise and Service Tax (ACES). Senior officials of the Ministry of Finance, RBI, State Bank of India and Commercial banks were also present on the occasion.
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NEW YORK (Feb. 13, 2007) – Already one of the most trusted consumer brands in the world, GE will soon become one of the hottest names in high-quality digital still cameras.
GE and corporate newcomer General Imaging Co. announced today that the two companies have reached an exclusive worldwide licensing agreement by which General Imaging will design, manufacture and distribute an all-new line of GE-branded digital cameras.
“We were seeking to enter the digital camera arena and found a perfect partner,” said Brad Irvine, GE President of Trading and Licensing. “The cameras from General Imaging are truly worthy of the GE name, representative of GE’s leadership in technology and innovation.”
General Imaging Co. Chairman and CEO Hiroshi “Hugh” Komiya said the GE brand comes with instant credibility.
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“GE is a brand that consumers around the world know and trust,” he said. “This is a brand known for innovation and technical leadership. We fully intend to deliver on the GE brand promise and even further enhance the GE brand value.”
Headquartered in Torrance, California, General Imaging brings together an all-star cast of photo industry veterans.
Komiya is a former president of Olympus Imaging Corporation.
Leading sales efforts in North America will be Rene Buhay, a former Vice-President of Global Sales for ArcSoft who had also headed North American sales for both Samsung and Ricoh. Noted industrial designer Takeyoshi Kawano will be the company’s chief designer. Kawano’s design credits include the Sony Walkman, the Sony VAIO computer and the Olympus Stylus camera series.
“Style will play an important part in our product development,” Kawano noted. “Consumers are demanding not just advanced features but stylish designs. We’re responding to that demand with cameras that are a statement of style and at the same time have all the latest technology.”
According to Kawano, advanced features such as image stabilization, high ISO sensitivity, and
panoramic stitching will be standard on ALL models.
“With advanced features like this on all our cameras, it will be diffi cult to take a bad photo,” he said.
“GE cameras will literally change the quality of pictures for today’s consumers.”
Entry-level GE digital cameras will start with 7 megapixels of resolution and 2.5-inch LCD screens.
Higher-end GE cameras will offer up to 12 megapixels of resolution and 3-inch LCD screens. A photo printer will also be included in the line.
The GE digital cameras will make their debut at the annual Photo Marketing Association trade show, March 8-11, in Las Vegas. Cameras will be available in North America from mid-April. Shipments to Europe and Asia are scheduled for later this year.
Buhay believes that response to the new camera line from retailers and consumers alike will
be overwhelming.
“I’ve been in the electronics fi eld for many years, and the GE cameras are like nothing I’ve ever seen before,” he said. “Our aim is to be Number 1 in all aspects – quality, technology, performance and value – and these cameras will do that.”
For more information go to www.ge.com/digitalcameras
The Serious Fraud Investigation Office (SFIO) has forwarded a list of some companies suggesting an examination based on the market performance of their shares during the period 1999-2001, with a view to ascertaining their involvement, if any, in the reported market
The names of the companies referred above are as under:-
i) Adani Exports Ltd.
ii) Aftek Infosys Ltd.
iii) Cadilla Healthcare Ltd.
iv) Digital Super Highway Pvt. Ltd.
v)Himachal Futuristic and Communications Ltd.
vi) Lupin Laboratory Ltd.
vii) Maars Software Ltd.
viii) Mascon Global Ltd.
ix) Nirma Ltd.
x) Padmalaya Telefilms Ltd.
xi) Padmini Technologies Ltd.
xii) Ranbaxy Labs Ltd./Vidyut Investments Ltd.
xiii) Zee Telefilms Ltd.
The involvement of the above companies in capital market manipulation as alleged is being ascertained.
This information was given by Shri Prem Chand Gupta, Minister of Company Affairs in reply to the question raised by Shri Tapan Kumar Sen and Shri Chittabrata Majumdar in Rajya Sabha today.