Showing posts with label COMMERCE. Show all posts
Showing posts with label COMMERCE. Show all posts

Wednesday, December 21, 2016

TET Exam Coaching Centre in Coimbatore

Shanmugam IAS Study circle is an independent private educational institution. It was established in the Year of 2006 with the noble cause of  training the civil service aspirants in a focus manner and preparing them for facing the lands highest examination.

we are steadfastly committed to quality guidance and holistic training to the IAS IPS IRS TNPSC GROUP I II& IV, VAO, BANKING, SI, POLICE, TET, TRB Railway and all competitive aspirants.

Thursday, January 16, 2014

Rajeev Kher appointed new Commerce Secretary

Senior IAS officer Rajeev Kher has been appointed Secretary in Department of Commerce. Kher, a 1980-batch IAS officer of Uttar Pradesh cadre, is presently Special Secretary, Department of Commerce under Ministry of Commerce and Industry. He will take over from S R Rao, a 1978-batch IAS officer of Gujarat cadre, after his retirement on January 31, a press release issued today by Ministry of Personnel said.
Sudarsanam Srinivasan, a 1980-batch IAS officer of Odisha cadre, has been appointed Member (Finance), Atomic Energy, Space and Earth Commissions.
Srinivasan, who is presently Special Secretary and Financial Adviser in Department of Space, has been appointed in the rank and pay of Secretary following retirement of A P Joshi, a 1978-batch IAS officer of Karnataka cadre.
A Vijayanand, a 1980-batch officer of Indian Revenue Service (C&CE), will be Additional Secretary and Financial Adviser in Department of Space, it said.
V S Madan, Director General and Mission Director of Unique Identification Authority of India (UIDAI) has been given one year extension, till March 2015.
The tenure of Madan, a 1981-batch IAS officer of AGMUT cadre, was to end on March 28 this year. The Appointments Committee of the Cabinet (ACC) has approved extension of tenure of J Sathyanarayana, a 1977-batch IAS officer of Andhra Pradesh cadre, as Secretary, Department of Electronics and Information Technology till his superannuation due on April 30.

Friday, May 10, 2013


Ad valorem duties (tariffs) Is calculated as a percentage of the value of the dutiable items. Contrasts with a specific tariff.

Anti-dumping duties May be imposed if export dumping causes injury to producers of competing goods in an importing country. The duties should be equal to the difference between the export price and the normal value of the dumped goods.

Balance of trade Refers to the difference between the value of exports and imports. It is calculated as the value of exports of goods and services minus the value of imports of goods and services.

Blue Box Comprises measures regarded as exceptions to the general rule that all subsidies linked to production must be reduced or kept within defined minimal levels. Covers payments directly linked to land size or livestock as long as the activity being supported limits production.

Dumping Occurs when goods are exported at a price less than their normal value, generally meaning that they are exported for less than they are sold in the domestic market or thirdcountry markets, or at less than cost of production.

Green Box Contains income support and subsidies that are expected to cause little or no trade distortion. Subsidies have to be funded by governments but must not involve price support. Environmental protection subsidies are included. No limits or reductions are required for such income support or subsidies.

Trade-Related Aspects of Intellectual Property Rights (TRIPS) Is an international treaty under the World Trade Organization (WTO), which sets down minimum standards of intellectual property for all products and services, covering copyrights, trademarks,geographical indications, industrial designs,
integrated circuits, patents and trade secrets.

Venture Capital Fund Is a pooled investment vehicle (often a partnership) that primarily invests the financial capital of third-party investors in enterprises that are too risky for the standard capital markets or bank loans.

Trade liberalization Is the removal of barriers to free trade, such as tariffs, quotas, nominal and effective rates of protection and exchange controls.

Intellectual property rights Is a generic phrase encompassing intangible property rights, including, among others, patents, trade and service marks, copyrights, industrial designs, rights in semiconductor chip layout designs, and rights in trade secrets.

Headcount ratio Is also known as the poverty incidence or headcount index. It measures the share of the total population in a given area whose consumption is below the poverty line. In other words, it is the proportion of the population who cannot afford to purchase the basic basket of goods and services.

Friday, March 8, 2013

Business News

Mahindra & Mahindra has forayed into the motorcycle segment with two 110 cc models—Centuro and Pantero.

Aiming to expand its presence in the agribusiness space, the Tata Group is now looking at launching chillies. Metaheli –a biotech firm acquired by the group in 2010–has developed a hybrid red chilli and the teams at Tata Chemicals and its subsidiary Rallis are studying the possibility of launching the cayenne pepper. Rallis would supply farm management products like seeds and pesticides to farmers in helping them cultivate the plant while Tata Chemicals would buy the chillies, package and market them under the I-Shakti brand. 

Bhavarlal Hiralal Jain, who founded Jain Irrigation Systems about three decades ago and also introduced micro irrigation and several other new technologies in India’s agro sector, is now working on a five-year plan to set up a university that would be dedicated to three hot topics in today’s world: water management, food security and energy conservation. 

Sanjay Kapoor, CEO (India and South Asia) of Bharati Airtel, has resigned. Gopal Vittal, who rejoined India’s largest telecom operator in 2012 as group director, special projects, will take over as the head of its Indian operations with effect from March 1, 2013.

Telecom equipment maker Alcatel-Lucent has won an eight-year contract valued at more than $1 billion to manage Reliance Communications’ mobile and fixed networks in east and south India.

The FIPB has cleared Rs 10,000 crore investment proposal of Swedish furniture major IKEA to set up retail stores in the country with cafeterias.

Chennai-based Apollo Hospitals Enterprise Ltd (AHEL) has inked a Rs 400 crore deal with Belgian medical device manufacturer Ion Beam Applications SA (IBA), to set up Apollo Proton Therapy Center, a proton therapy center for cancer treatment. The therapy focuses primarily on the cancer-affected area and it does not harm healthy tissues. Apollo plans to set up the facility by 2015 and offer the services for Rs 30 lakh per treatement.

Battery maker Exide Industries, the largest stakeholder in ING Vysya Life Insurance, which currently owns a 50% stake, has decided to acquire the remaining stake for Rs 550 crore. It will buy 26% stake from Dutch partner ING Insurance International, which is exiting the insurance business in India with this deal. It will also acquire 16.32% stake from Hemendra Kothari group and 7.68% from Enam group. The deal will value ING Vysya at Rs1,100 crore.

SEBI has notified the SEBI (Investment Advisers) Regulations, 2013, wherein registration has been made compulsory for all financial advisors. Investment advice includes advice relating to investing in, purchasing, selling or otherwise dealing in securities or investment products, and advice on investment portfolio containing securities or investment products. Insurance agents, pension advisors, AMFI-registered mutual fund distributors, solicitors, chartered accountants, cost accountants, actuaries and fund managers do not need to register. Minimum qualifications to register are: postgraduate degree or diploma in finance or related fields; a minimum five years experience in financial products advice. In addition, all registered advisors have to obtain a certification from the National Institute of Securities Markets.

Brookings Institution, a non-profit public policy organisation based in Washington DC, has announced it would open Brookings India to serve as a platform for public policy research and analysis. Vikram Singh Mehta, former Chairman of the Shell group of companies, would be the chairman of Brookings India.

The largest Indian media conglomerate, The Times of India group, has launched a new film award—the times of india Film Awards (ToIFA), a global annual awards function which will directly take on International Indian Film Academy Awards (IIFA).

Royal Philips Electronics NV, 50 years after unveiling the compact cassette for music mix-tapes, has agreed to sell its audio and video units to Japan’s Funai Electric Co for $202 million. Philips now wants to concentrate more on profitable cancer scanners and energy savings light bulbs.

Research in Motion (RIM) has decided to change the name it has used since its inception in 1985 to BlackBerry.

The Union government has given a go-ahead for selling a 10 percent stake in Oil India Ltd, which is expected to raise more than Rs 2,500 crore. 

Friday, February 15, 2013


Company: An organisation consisting of individuals called ‘shareholders’ by virtue of their holding the shares of a company, who can act as one legal person as regards its business through an elected board of directors.

Share: Fractional part of the capital, and forms the basis of ownership in a company; shares are generally of two types, viz. equity shares and preference shares, according to the provisions of The Companies Act, 1956. Preference shares again are of different types based on varying shades of rights attached to them.
Share Capital of a company is collected by issuing shares to either a select group of persons through the route of private placements and/or offered to the public for subscription. Thus, the issue of shares is basic to the capital of a company. Shares are issued either for cash or for consideration other than cash, the former being more common. Shares are said to be issued for consideration other than cash when a company purchases business, or some asset/assets, and the vendors have agreed to receive payment in the form of fully paid shares of a company.

Stages of Share Issue: The issue of shares for cash is required to be made in strict conformity with the procedure laid down by law for the same. When shares are issued for cash, the amount on them can be collected at one or more of the following stages:
(i) Application for shares
(ii) Allotment of shares
(iii) Call/Calls on shares.

Calls in arrears: Sometimes, the full amount called on allotment and/or call (calls) is not received from the allottees/shareholders. The amount not so received are cumulatively called ‘Unpaid calls’ or ‘Calls-in-Arrears’. However, it is not mandatory for a company to maintain a separate Calls-in-Arrears Account. There are also instances where some shareholders consider it descreet to pay a part or whole of the amount not yet called-up on the shares allotted to them. Any amount paid by a shareholder in the excess of the amount due from him on allotment/call (calls) is known as ‘Calls-in-Advance’ for which a separate account is maintained. A company has the power to charge interest on calls-in-arrears and is under an obligation to pay interest on calls-in-advance if it accepts them in accordance with the provisions of Articles of Association.

Oversubscription: It is possible for the shares of some companies to be oversubscribed which means that applications for more shares are received than the number offered for subscription through the prospectus. Under such a condition, the alternatives available to the directors are as follows :
(i) They can accept some applications in full and totally reject the others,
(ii) A pro-rata distribution can be made by them,
(iii) A combination of the above two alternatives can be adopted by them.
If the amount of minimum subscription is not received to the extent of 90%, the issue devolves. In case the applications received are less than the number of shares offered to the public, the issue is termed as ‘under subscribed’.

Issue of Shares at Premium: Irrespective of the fact that shares have been issued for consideration other than cash, they can be issued either at par or at premium. The issue of shares at par implies that the shares have been issued for an amount exactly equal to their face or nominal value. In case shares are issued at a premium, i.e. at an amount more than the nominal or par value of shares, the amount of
premium is credited to a separate account called ‘Securities Premium Account’, the use of which is strictly regulated by law.

Issue of Shares at Discount: Shares can as well be issued at a discount, i.e. on an amount less than the nominal or par value of shares provided the company fully complies with the provisions laid down by law with regard to the same. Apart from such compliance, shares of a company cannot ordinarily be issued at a discount. When shares are issued at a discount, the amount of discount is debited to ‘Discount on Issue of Share Account’, which is in the nature of capital loss for the company.

Forfeiture of Shares: Sometimes, shareholders fail to pay one or more instalments on shares allotted to them. In such a case, the company has the authority to forfeit shares of the defaulters. This is called ‘Forfeiture of Shares’. Forfeiture means the cancellation of allotment due to breach of contract and to treat the amount already received on such shares as forfeited to the company. The precise accounting treatment of share forfeiture depends upon the conditions on which the shares have been issued — at par, premium or discount. Generally speaking, accounting treatment on forfeiture is to reverse the entries passed till the stage of forfeiture, the amount already received on the shares being credited to Forfeited Shares Account.

Re-issue of Shares: The management of a company is vested with the power to reissue the shares once forfeited by it, subject of course, to the terms and conditions in the articles of association relating to the same. The shares can be reissued even at a discount provided the amount of discount allowed does not exceed the credit balance of forfeited shares’ account relating to shares being reissued. Therefore, discount allowed on the reissue of forfeited shares is debited to forfeited shares’ account. Once all the forfeited shares have been reissued, any credit balance on forfeited shares’ account is transferred to Capital Reserve representing profit on forfeiture of shares. In the event of all forfeited share not being reissued, the credit amount on forfeited shares’ account relating to shares yet to be reissued is carried forward and the remaining balance on the account only is credited to capital reserve