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'ICSI House', 22 Institutional Area, Lodi Road, New Delhi-110003, India.

Phone-(011) 41504444, 24617321-24, Fax-(011)24626727, Email - info@icsi.edu

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Forthcoming Programmes • FIRST ICSI WEBINAR ON IFRS

SEBI Updates

• Exit load - Parity among all classes of unit holders

TAX LAW Updates • All Industry Rates of Duty Drawback, 2009-2010

Disclaimer: - CS Update contains government notifications, case laws and contributions received from the members. Due care and diligence is taken in compilation of the CS Update. The Institute does not own the responsibility for any loss or damage resulting from any action taken on the basis of the contents of the CS Update. Anyone wishing to act on the basis of the contents of the CS Update is advised to do so after seeking proper professional advice.

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• FIRST ICSI WEBINAR ON IFRS HOME

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FIRST ICSI WEBINAR ON IFRS

The use of International Financial Reporting Standards (IFRS) as a universal financial reporting language is gaining momentum across the globe. In line with Government of India’s expressed intent to facilitate the convergence of the Indian accounting standards with IFRS by April 1, 2011, the Institute in association with Reliance World is organizing webinar on IFRS: An Overview and Opportunities for members through out the country at 90 Reliance world outlets on August 22, 2009. Eminent speakers will lead the discussion. The announcement in this regard was already published in the August 2009 issue Chartered Secretary. Date & Day: : August 22, 2009 (Saturday) Timing : 3.00 pm to 6.00 pm Programme Credit Hours: Two Programme Credit Hours will awarded to the participants. Fee: The programme is free for ICSI Members. Registration Procedure: Each Reliance outlet can accommodate 15 persons at a time; therefore the registration is on First come First serve basis. You are requested to register by sending an e-mail to Mr. S.N. Mishra, Assistant Director at surya@icsi.edu mentioning the city and preferred Reliance World Outlet latest by 13th August 2009. The list of 90 Reliance World outlets which are available for the programme, is as under.

Sr.No.

City City Circle Webstore Name

Address

1

Agra Agra UP Kamla Nagar-Agra

B-53, Upper Ground Floor Maruti Builders , Central Bank Road, Kamlanagar, Agra-282005

2

Ahmedabad Ahmedabad GUJ C G Road - Ahmedabad

Grasim-Gwalior, Maradia Plaza, Ahmedabad

3

Ahmedabad GUJ Navrangpura-Ahmedabad

Gr Floor, Raja Complex Building, Vijay Cross Road,

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Navrangpura

4

Ahmedabad GUJ Satellite Road-Ahmedabad

7-8 Silicon Valley, Shivrangini Cross Roads, Satellite Road

5

Allahabad Allahabad UP Civil Lines Allahabad

23,Mahatma Gandhi Marg, Near NPA Arcade, Allahabad

6

Amritsar Amritsar PUJ The Mall-Amritsar

Reliance Web World 35/13,LIC BUILDING,THE MALL, AMRITSAR

7

Asansol Asansol WB Asansol BURNPUR ROAD, OPPOSITE POLICE LINE, BELOW HOTEL ASANSOL INN

8

Aurangabad Aurangabad MAH Aurangabad City

Reliance Web World Shop No.6,7 &14, Chandrakala Arcade, Nirala Bazar, Aurangabad 431001 Reliance Web World chandrakala Arcade, Nirala Bazar, Aurangabad 431001 (0240-3042992/3/1

9

Bangalore Bangalore KAR Brigade Road No 158, Mota Royal Arcade, Brigade Road

10

Bangalore KAR Jayanagar Narendra Plaza, 452/3-16, 27th cross,4th block, Jayanagar,

11

Bangalore KAR Koramangala The Forum, No23 & 24, On Housur Road

12

Banglore Kar Airport Road Reliance World, No:16,17&18 , Ground Floor Carlton Towers,

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No:1, Airport Rd

13

Bareilly Bareilly UP Civil Lines-Bareilly

87, Lata Arcade,Ayub Khan Crossing,Civil Lines, Bareilly

14

Bhopal Bhopal MP Bhopal Bittan Market

E-5/7, Bittan Market, Arera Colony, Opp. Habibganj Police Station, Bhopal - Madhya Pradesh

15

Bhubaneswar Bhubaneswar MP Fortune Tower

Fortune Towers, Fortune Towers Square, Chandrasekharpur, Bhubaneshwar

16

Calicut Calicut KER Nadakavu - Calicut

Building No: 622A, East Nadakkavu Near Manorama Junction, Wayanad Road, Calicut

17

Chandigarh Chandigarh PUJ Sector 35 C-Chandigarh

SCO 449-450 Sector 35-C Chandigarh

NA

18

Chennai Chennai TN Adyar No.105, 1 Main Road, Gandhi Nagar,Near Malar Hospital, Adyar, Chennai-20.

19

Chennai TN Kilpauk no:27,balfour road,kilpauk,chennai-10

20

Chennai TN Parry No:71/94,Armenian street (opp.Sical Building),Parrys

21

Chennai TN Spencerplaza No.G 174 A, Phase III, Spencer Plaza, Mount Road, Chennai - 600 002.

NA

22

Chennai TN Tnagar 'Gold Crest',No.54 & 55 , North

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Usman Road,Near Panagal Park,T.Nagar,

23

Coimbatore Coimbatore TN Gandhipuram 526,527,Dr.Rajendra Prasad Road, Gandhipuram,Coimbatore.

24

Cuttack Cuttack MP Buxibazar Cuttack

Swastik Center, Mission Road, Buxi Bazar, Cuttack

25

Dehradun Dehradun UP Rajpur Road-Dehradun

56,Rajpur Road City Centre Dehradun

26

Durgapur Durgapur WB Durgapur A-101, KALPATARU, CITY CENTER,

27

Faridabad Faridabad DEL Sector 15-Faridabad

S.C.F - 51 , Sector-15 MARKET, FARIDABAD

28

Ghaziabad Ghaziabad DEL Rajnagar-Ghaziabad

C-6,AMIT COMPLEX RDC,RAJ NAGAR

29

Goa Goa MAH Miramar Pinto Complex,Opp Football Ground Near Kala Academy,Miramar Road,Campal,Panjim ,Goa

30

Gorakhpur Gorakhpur UP Civil Lines Gorakhpur

Reliance Webworld Opposite Hotel President 13 A Mangalam Towers Civil lines Golghar Gorakhpur

31

Gurgaon Gurgaon DEL Gurgaon Sec-14

SCO-23, Sector - 14 old delhi gurgaon road, near Nirulas

32 Howrah Howrah WB Howrah 23,Maulana Abul

Kalam Azad Road

33 Hubli Hubli KAR Hubli Niel Plaza, Club

Road, Near Port

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Circle

34

Hyderabad Hyderabad AP Abids-Hyderabad

MPM MALL, 1ST FLOOR OPP GPO, ABIDS,

35

Hyderabad AP Begumpet Ground Floor,Visaka Towers, Next to Pizza Corner, SP Road,Begumpet

36

Hyderabad AP Himayatnagar Reliance Webworld, Shop No.1 & 6, Sai Dutta Arcade, Beside Maruthi Showroom Himayatnagar, Hyderabad-500 029

37

Hyderabad AP Jade Arcade - SD Road

Reliance Webworld,Jade Arcade, Opp:Paradise Hotel,Secunderabad-500003

38

Hyderabad AP Kukatpally Reliance Webworld, Sai Vikram Towers, Near chaitnya college, kukatpally-500072

NA

39

Indore Indore MP MG Road-Indore

UG 1&2, Classic Center, 575, M.G.Road, Near Globus, INDORE - Madhya Pradesh

40

Jabalpur Jabalpur MP Shastri Bridge-Jabalpur

Napier Town, Near Shastri Bridge, Model Road, Jabalpur - Madhya Pradesh

41 Jaipur Jaipur RAJ M I Road Om Towers WW

M.I Road Jaipur

42

Jallandhar Jallandhar PUJ GT Road-Jallandhar

Ground Floor, Grand Mall Building Near Radisson Hotel B M C Jalandhar

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43

Jamshedpur Jamshedpur WB Jamshedpur-Reliance Webworld

Shop No3 ,Bistupur Main Road,Beside Chhappan Bhog Opposite Nataraj Hotel

44 Jodhpur Jodhpur RAJ Nai Sarak-

Jodhpur 26, NAI SARAK NA

45

Kalyan Kalyan MUM Ashish Bungalow-Kalyan

"Reliance Web World Ashish Bunglow, Plot no. 3110, Murbad Road, Kalyan (West)"

46

Kanpur Kanpur UP Mall Road 14/125, Parade, The Mall, Opp. PPN Market.

47 Kochin Kochin KER Alwaye Regency, Palace

Road Aluva NA

48

Kolhapur Kolhapur MAH Kolhapur Sagar Matha ,1780/1B,E Ward Rajarampuri,2nd lane Kolhapur Sagar Matha ,1780/1B,E Ward Rajarampuri,2nd lane Kolhapur

49

Kolkata Kolkata WB Camac Street Azimganj House, 7 Camac Street, Kolkata

50

Kolkata WB SA Ali Avenue Shivam Chamber, 53,Sayed Amir Ali Avenue,(opp Ice Skating Rink)--

51

Kolkata WB Sarat Bose Road-Kolkata

19C Sarat Bose Road (Opp Nepal Sweets)

52 Kolkata WB Tollygunj-

Kolkata 32,DPS Road Merlin Building

53

Kottayam Kottayam KER Kottayam Thyparambil Building K.K Road Kanjikuzhy, Kottayam

54

Lucknow Lucknow UP Gomti nagar 4/293,Vivek Khand,Opp Sahara Plaza Patrakarpuram, Gomti Nagar,

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55

Ludhiana Ludhiana PUJ Chaura Bazar-Ludhiana

Unit no B-||-1387 opp Bahadur House, Near Central Post Office, Ludhiana

56

Madurai Madurai TN Annanagar-Madurai

Reliance web world Hyder Ali Complex 37A/17,80Feet Road, Anna Nagar, Madurai-625020

57

Mangalore Mangalore KAR Bunts Hostel Circle

Essel Towers, Shop No. 14-1-58/15 to 22, Buntshostel Circle, Kodialbail

58

Mumbai Mumbai MUM Andheri East Center point bldg, Opp RPG tower, J.B. Nagar, Andheri Kurla rd, Andheri E, Mumbai-59.

59

Mumbai MUM Bandra "Reliance Web World, 354, Linking Road, Next to Only Parathas, Bandra (West)"

60

Mumbai MUM Borivali(W) Reliance Web World,Anuradha Bldg., Shop No. 1,2 &3 Ground Floor,Chandavarkar Road, Borivali (West),

61

Mumbai MUM Chembur "Reliance Web World PARC, Sion-Trombay Rd, Near Bezzola Complex, Chembur "

62

Mumbai MUM DAKC ADMIN Test2

DAKC, Kopperkhairane Navi Mumbai

NA

63

Mumbai MUM HeeraPanna "Reliance Web World, Shop No. 1, Vellard View, Tardeo Road,Heera

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Panna, Haji Ali, Mahalaxmi."

64

Mumbai MUM Juhu "Reliance Web World,IPCL, JVPD Scheme,Near Invitation 365,Juhu, Vile Parle (W)"

65

Mumbai MUM Kandivali "Reliance Web World Shop no. 65, Bldg No. A-8, Plot No. B, Saraf Choudhary Nagar Co-op Soc (13), Western Express Highway, Kandivali (East)"

66

Mumbai MUM Shivaji Park "Reliance Web World, Atharva building, opposite Nebula Restaurant, Next to Sena Bhavan, Shivaji Park, Dadar"

67

Mumbai MUM Thane (W) "Reliance Web World Shop No. 109,110,111,112&113, Savour, Ram Nivas Bldg., Next to Airtel, Jn of MG Road & Gokhale Road, Naupada, Thane (West)"

68

Mumbai MUM Vashi "Reliance Web World Shop No. 8C and 22, Gagangiri Bldg., Sector 17,Vashi."

69

Mysore Mysore KAR Devraj Urs Road (Mysore)

# 115, D DEVARAJ URS ROAD DEVRAJA MOHALLA

NA

70

Nagpur Nagpur MAH Dharampeth 4-6 ,Vijay Arcade, North Ambazari Road, Shankar Nagar

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71

Nasik Nasik MAH Nasik City Utility Center, Opp. Rajiv Gandhi Bhavan, Sharanpur Road Nasik.

72

New Delhi New Delhi DEL Green Park Shop No S-37,Basement and Ground Floor Green Park New Delhi

73

New Delhi DEL Lajpatnagar II K-3, Main Alankar Road, Lajpatnagar II

74

New Delhi DEL Pitampura A-7 SARASWATI VIHAR, NEAR DEEPALI CHOWK, OUTER RING ROAD, NEW-DELHI-110034

75 New Delhi DEL South

Extension E-18, South Extension Part-2

76

NOIDA NOIDA DEL Noida P-8 Sector 18 Noida - 210301 (U.P)

77

Palakkad Palakkad KER Metro Complex Palakkad

Metro Complex, Opp. Ayurveda Hospital, HPO Road, Palakkad

78

Patiala Patiala PUJ Dharampura Bzr-Patiala

Shop No. 238/3,Dharampura Bazar Near Eko ELectronics, Patiala-147001

NA

79

Patna Patna WB Fraser Road Jagat Trade Centre Fraser Road Patna

80 Pondicherrry Pondicherrry TN Kamaraj Salai 172,Kamaraj

Salai,Saram

81

Pune Pune MAH Bajirao Road 1358 A, Bajirao Road, Natu Baug, Shukrwar Peth, Pune 411030 1358 A, Bajirao Road, Natu Baug, Shukrwar Peth, Pune 411030

82 Pune MAH M.G.Road Opp - Aurora

Towers, Sterling

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Centre, M.G.Road Pune - 411 001 As Above

83

Pune MAH Paud Road Rahul Complex near Krishna Medical Shop no 17,18. Paud Road pune 411038 Rahul Complex near Krishna Medical Shop no 17,18. Paud Road pune 411038

84

Pune MAH Pimpri Ishwarlal Palace, Plot no 293/294 opp MUCC college Pimpri

85

Raipur Raipur MP Krishna Complex-Raipur

Shop No. 124/125/126, Krishna Complex, Kutchery Chowk, Raipur

86

Rajkot Rajkot GUJ Sanjayraj Complex-Rajkot

Dew Drops, Race Course Ring Road

87

Ranchi Ranchi WB Hariom Tower Hari Om Tower (opp Ranchi Womens College) Circular Road

88

Rohtak Rohtak PUJ Rohtak ground floor,jawahar market,opp d park,delhi road ,rohtak na

89

Salem Salem TN Salemomalur Road-Salem

254.255 OMALUR ROAD OPP TVS,LOYAL AUTOMOBILE BUILDING,SALEM - 636 007

90

Surat Surat GUJ Ring Road Surat

House D,21st Century Business Centre,Beside World Trade Centre,Ring Road.

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91

Trivandrum Trivandrum KER Kesavadasapuram

CD Tower , Adjacent to Kalpana Theatre Kesavadasapuram, Trivandrum

92

Udaipur Udaipur RAJ Udaipur Meera Complex, Sardarpura,, Opp. Meera Girls College, Udaipur (Rajasthan)

93

Vadodara Vadodara GUJ Fatehgunj Baroda

Pastonji Club, Near Safferon Towers Fatehgunj.

94

Varanasi Varanasi UP Durgakund B 27/90 SHAKUMBARI COMPLEX, UPPER GROUND FLOOR , DURGAKUND,

95

Vijayawada Vijayawada AP Manasa Towers-Vijayawada

# 40-1-144,Reliance WebWorld, Mansa Towers, Labbipet

96

Vishakhapatnam

Vishakhapatnam

AP Vizag - Dwarkanagar

47-14-10, Vidisha Towers,Dwarakanagar, Visakhapatnam-16 08913012993 is the additional phone number

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• Exit load - Parity among all classes of unit holders

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DEPUTY GENERAL MANAGER INVESTMENT MANAGEMENT DEPARTMENT

SEBI / IMD / CIR No. 6 /172445/ 2009 August 7, 2009

All Mutual Funds, Asset Management Companies (AMCs) and Association of Mutual Funds in India (AMFI) Sir / Madam, Sub: Exit load - Parity among all classes of unit holders 1. SEBI vide circular No. SEBI/IMD/CIR No. 5/126096/08 dated May 23, 2008 has simplified the formats for Offer Document and Key Information Memorandum of Mutual Funds Scheme. The simplified Scheme Information Document format provides that “Wherever quantitative discounts are involved the following shall be disclosed – The Mutual Fund may charge the load within the stipulated limit of 7% and without any discrimination to any specific group of unit holders. However, any change at a later stage shall not affect the existing unit holders adversely” 2. It is observed that the mutual funds are making distinction between the unit holders by charging differential exit loads based on the amount of subscription. In order to have parity among all classes of unit holders, it has now been decided that no distinction among unit holders should be made based on the amount of subscription while charging exit loads. 3. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provisions of Regulation 77 of the SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, Ruchi Chojer

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• All Industry Rates of Duty Drawback, 2009-2010 HOME

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D.O. F.NO. 609/67/2009-DBK

3rdAugust, 2009

NAJIB SHAH Joint Secretary (Drawback) Tele fax : 2334 1079 Dear Chairman/President, Sub: All Industry Rates of Duty Drawback, 2009-2010.

Under the Duty Drawback Scheme administered by this Department the duties (Customs & Central Excise) paid on inputs and service tax paid on input services used in the manufacture of export goods are refunded to the exporters in the form of drawback. The drawback rates are worked out and notified every year after taking into account the budgetary changes in the duty structure and other relevant facts.

2. The exercise is underway in the Ministry to re-work and revise the rates of duty drawback for the year 2009-2010. 3. As you are aware, All Industry Rates of Duty Drawback are worked out by considering the consumption of input materials/ services and the incidence of duties/taxes on these input materials/ services. We would, therefore, request you to provide us with a comprehensive cost and consumption data regarding the various inputs/input services which are used in the manufacture of export products. A proforma in three parts is enclosed. I would like to emphasize that the consumption of input materials/ services and incidence of duties / tax, which is shown against the export of products must be relatable to the actual business activity of exports. Therefore, the second part of this proforma requires information on the actual cost incurred for making the exports and the sales realization on such exports. The third part of the proforma relates to the incidence of service tax on exports. 4. Please ensure that data provided is as representative as possible. Data pertaining to at least five units should be submitted for each export product. The units should be selected from amongst the small, medium as well as large exporters so that the data is truly representative. Needless to say the data should be collected only from the manufacturers/manufacturer exporters. As far as possible, data should be supported by relevant documents such as Bills of Entry, Shipping Bills, invoices etc. Further, while submitting

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data in respect of a particular export item manufactured by a manufacturer, details of any/all input(s)/service(s) used in the manufacture of all types/styles of that particular export item should be indicated i.e. for instance, data on T-shirt/shoes should include total quantity/value of inputs/services used by that manufacturer for manufacture of all types of T-shirts/shoes. Secondly, the data should indicate the total FOB value of T-shirts/shoes exported by that manufacturer. 5. You are also requested to inform regarding anomalies, if any, noticed in the Drawback Schedule, both with reference to description of the goods or the rates. This will help us rationalize the schedule. Your suggestions are also welcome on any other aspect of the drawback scheme which you feel need to be examined. 6. Since, the work is time bound in nature, you are requested to kindly furnish information in the prescribed proforma by 21st August, 2009. The information sought for with regard to anomalies may be sent separately in the form of a note. The information may also be sent by e-mail at mofdbkdatabank@hotmail.com. 7. The government has, like the previous year, constituted a three-member committee consisting of Shri Saumitra Chaudhuri, Member, Planning Commission of India, Shri S. B. Mohapatra, Secretary to the Government of India (retired) and Shri T. R. Rustagi, Chief Commissioner of Customs & Central Excise (retired) for the formulation of All Industry Rates of Duty Drawback, 2009-2010. Should you wish to make a presentation before the committee, you may intimate in advance so that it can be organized.

Yours sincerely,

Click here for Proforma

(NAJIB SHAH)

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