SEBI imposes Rs 40 cr fine on Reliance Industries for Manipulative Trades
- The Securities Exchange Board of India imposed a fine of Rs 25 cr on Reliance Industries 15 cr on the Chairman, Mukesh Ambani for manipulating shares of Reliance Petroleum in November 2007.
- The issue is related to manipulation during the sale and purchase of Reliance Petroleum Limited shares in the cash and the futures segment in November 2007.
- SEBI found that Mukesh Ambani is the Managing Director of RIL was responsible for the manipulative activities under Prohibition of Fraudulent and Unfair Trade Practices.
To read the official Notification, Click on https://www.sebi.gov.in/enforcement/orders/jan-2021/adjudication-order-in-respect-4-entities-in-the-matter-of-reliance-petroleum-limited_48637.html
Scheme Guidelines for the Atmanirbhar Bharat Rozgar Yojana Implementation
- The Ministry of Labour issued a guideline for the implementation of the Aatmanirbhar Bharat Rozgar Yojana to encourage the generation of employment opportunities in Employment Provident Fund registered establishments.
- This step has been taken while keeping in view the COVID 19 recovery phase for providing assistance to the employees and to recruit unemployed people.
To read full official notification click on https://www.epfindia.gov.in/site_docs/PDFs/Circulars/Y2020-2021/caiu_abry_11769.pdf
Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme shall be implemented from 1st January 2021
- The Ministry of Finance made an important announcement for exporters to extend the benefit of the scheme for the Remission of Duties and Taxes on Exported Products (RoDTEP) on all export goods effective from 1st January 2021.
- This scheme will also refund to exporters the embedded Central State and local duties or taxes that were so far not being refunded.
To read the notification click on https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1685206