rough paper
DESCRIPTION
TRANSCRIPT
As September approaches, I can count on a series of spreadsheet questions. One of the popular Excel tutorial requests is how do you look up a value on one Excel worksheet and use it on another Excel worksheet. For example, you need to translate a product number into a product name. One of my favorite Excel functions is the VLOOKUP function and it can help with this task
2) A recent case involved some voter registration data I needed to analyze. On one Excel spreadsheet, the voter’s party was listed as an alphanumeric value called "Pcode" and not the political party. This coding wasn't intuitive. For example, “D” was for “American Independent Party”, but some thought it meant “Democratic Party”.
3) One way to solve this problem is to create a worksheet with the Pcode and translation and have Excel use the VLOOKUP function for the party name. You might think of VLOOKUP as an Excel translator. I could then add a column called “Political Party” to my original worksheet to show the information from a lookup table.
4) Creating a Lookup Table
A lookup table includes the values you wish to "lookup" such as our Pcode and the translation such as political party. You can place this table on the same worksheet, but for this Excel tutorial I'll add a worksheet called "Political Party".
How to Create a Lookup Table,
1. Right-click your spreadsheet’s tab and select Insert…
2. On the Insert dialog, double-click Worksheet. This will be on the General tab.
3. Rename this new worksheet tab with a descriptive name such as “Party Codes”
4. In Column A, enter the unique values that exist on your main worksheet. In my example, these were the codes that showed in the Pcode column in the thumbnail. These values should be in ascending order.
5. In Column B, enter the translated value. You can have more values in column A than appear on your main spreadsheet. For example, I have an entry for “Citizen Party” even though I didn’t show a registered voter with that affiliation.
5) Using the VLOOKUP Function
Excel’s VLOOKUP function uses 4 pieces of information. The function panel may seem intimidating with the terms, but it’s simpler than it looks.
To lookup a value using VLOOKUP,
1. Add your new column on your original worksheet that will display the info pulled from the Lookup table. In my example, I added a column called Political Party in Column D. This is where I will insert the Excel function.
6) 2. Place your cursor in the first blank cell in that column. In my example, this is cell D2.
3. From the Insert menu, select Function…. The Insert Function dialog will appear.
7) 4. In the Search for a function: text box, type “vlookup” and click Go.
5. Highlight VLOOKUP and click OK.
Defining the VLOOKUP Values
After you click OK, Excel’s Function Arguments dialog appears and allows you to define the four values. You’ll see that your starting cell and the formula bar show the beginning part of the function =VLOOKUP(). The Function Arguments dialog adds the needed data elements that will display between ().
For illustration purposes, I have overlaid the Party Codes worksheet on top to show the relationships.
8) 1. Lookup_value – Think of this field as your starting point. In my example, I’ll click cell C2 so the value is filled in the dialog. I'm requesting Excel take the value of C2, which displays as the Pcode of “A”, and find the matching political party on my lookup table on the Party Codes worksheet.
2. Table_array – This is the range for your lookup table. The range can be on your existing worksheet or another worksheet such as our “Party Codes”. When you click another tab and define the range, Excel prepends that tab name to the range such as ‘Party Codes’.
Rules & Caveats
There are several rules to remember about this table array.
Rule 1 - The left column must contain the values being referenced. In other words, I couldn’t have our first column be Political Party.
Rule 2 - You can’t have duplicate values in the leftmost column of the lookup range. I couldn’t have two entries with the value “A” with one being “Democratic” party and another “A” for the “Humanist” party. Excel would complain.
Rule 3 - When referencing a lookup table, you don’t want your cell references to change when you drag and fill to populate the other cells with the VLOOKUP function. As example, if I want to use the same function in cells D3 through D7, I don’t want my lookup cell references to shift each time I move down to the next cell. I need the cell references to be the same. After you define your range, you need to press F4 which will cycle through absolute and relative references. You want to select the option that includes a $ before your Column and Row. ( 'Party Codes'!$A$2:$B$45. ) You can get around this if you know how to use Excel name ranges.
Col_index_num – This is the number of the column on your lookup table that has the information you need. In our example, we want column 2 from the Party Codes worksheet which has the name of the political party.
Range-lookup – this field defines how close a match should exist between your Lookup_value (C2) and the value in the leftmost column on our lookup table. In our case, we want an exact match so we’ll use “FALSE”.
After clicking various cells, my dialog looks like this:
9) You can see in the circled formula bar above, I now have more information based on my entries in the Function Arguments dialog box.
The other item of interest is that when you build these functions, Excel displays the result in the Formula result = text line. This is great feedback which can show if your function is on target. In our example, we can see Excel looked up the Pcode of “A” and returned the Political Party “Democratic”.
Copying the VLOOKUP Function to Other Cells
It doesn’t make sense to use VLOOKUP for one cell in your Excel spreadsheet. Instead, I want to copy the function to other cells in the same column.
To copy VLOOKUP to other column cells,
1. Click the cell containing the VLOOKUP arguments. In our example, this would be D2.
2. Grab the cell handle that displays in the lower right corner.
3. Left-click and drag down the cell handle to cover your column range.
Note: If I hadn’t changed to absolute reference as mentioned in Rule 3, I would’ve seen my table array entry shift by one cell as we dragged down through the other cells.
VLOOKUP is a powerful Excel function that can leverage spreadsheet data from other sources. There are many ways you can benefit from this function. In this example, I used a 1:1 code translation, but you could also use it for group assignments. For example, you could assign state codes to a region such as CT, VT, and MA to a region called “New England”. And for the adventurous, you can use VLOOKUP in your Excel formulas.
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A
Blaze flase courier LTDDocket no- 221025174Date: 22.05.10Party name Avatar Steel Desitnation: Gobindgard
If a person convicted for issuing a cheque without balance in his bank account is ordered to pay compensation to the payee, he can be sentenced to imprisonment under Section 357(3) of the Criminal Procedure Code, the Supreme Court has held in the case, K A Abbas vs Sabu Joseph. In this case, the court asked the drawer to pay Rs 5 lakh as compensation for issuing a cheque which bounced. The drawee did not pay. So he was sentenced to two months more for the default. The Kerala high court reduced it to imprisonment till the rising of the court. Both parties appealed to the Supreme Court, the payee arguing that the sentence was minimal. The court ruled that sentence of imprisonment can be imposed in such cases.
Read more: http://www.taxguru.in/corporate-law/you-may-face-jail-if-compensation-not-paid-for-bounced-cheque.html#ixzz0op1he7cU
ABZPU9786B usha 2907664841
DXF3992054352
DXF399205
Domestic Shipment Tracking
Consignment Numbers
Consignment Number
Booking Date
Origin Destination StatusReceiver Name
& Contact NumberDelivery Status
Time/Reason Date
M2630264526-Apr-
2010pune mumbai Delivered CO.SEAL & SIGN 16:00
27-Apr-2010
Consignment Number : M26302645
Date Serving Location Status
26-Apr-2010 Pune Despatched From Origin
26-Apr-2010 Mumbai Arrived At Destination Hub
27-Apr-2010 Mumbai branch misroute
27-Apr-2010 Mumbai Consignment Delivered
Bottom of Form
Life Insurance Corporation of India, the market leader in insurance sector, cannot charge any fee for transfer or assignment of its policies, the Bombay High Court has held.
The court conceded that transfer of policy is a cumbersome process and puts burden on LIC’s resources and manpower, as it has to be registered.
However, the division bench of Justices FI Rebello and JH Bhatia held that under the LIC Act, or even the Insurance Act, the company has no power to charge such fees.
Earlier, LIC had banned the transfer of insurance policies, but it was challenged, and High Court had in its 2007 decision held that sale of policies was permissible. The present controversy arose after LIC issued a circular (which came into effect in May 2007) whereby it began to charge a fee of Rs 250 on everytransfer of policy.
It was challenged by city-based Dravya Finance, a non-Banking Finance company, engaged in the business of advancing loans against the assignment of life insurancepolicies . It contended that the imposition of the fee was illegal. The division bench upheld its contention, after observing that only the central government had the power to impose such a fee with respect to a policy, and not LIC.
Read more: http://www.taxguru.in/corporate-law/lic-cannot-charge-any-fee-for-transfer-or-assignment-of-its-policies-bombay-hc.html#ixzz0pUH4EBnr
------------------------------------------------------------------------Ref: CO/CRM/ 788/23 14th May 2010
To,All Zonal Managers,All Regional Managers (CRM)All Sr/Divisional Managers,M.D.C., Audit & Inspection
Re: OPTION TO CHANGE DEBIT DATE UNDER EXISTING ECS MODE OF POLICIES
At present, under ECS mode of policies, debit date of premium deduction is decided as per date of commencement of policy.
Date of commencement of policy ECS debit date1st to 7th of the month 7th of same month8th to 15th of the month 15th of same month16th to 31st of the month 28th of the month.
We have received some representations from our policyholders and field staff that due to the auto fixing of the ECS date, respective policyholders are not able to take the benefit of days of grace available under the policy as per mode of payment.
We have reviewed the matter and it has been decided to allow the policyholders to exercise the option of fixing new date of ECS as above (i.e 7 th,15th,28th ) within days of grace of the policy as per date of commencement. This is explained as follows:-
Date of commencement
Mode of payment
Auto ECS due date
New ECS dateOptions available
5/4/2009 ECS- Monthly
7th April 15th April Since 28th April will be after days of grace , this ECS date is not allowed.
20/4/2009 ECS- yearly
28th April 7th or 15th
MaySince 28th May will be after days of grace , this ECS date will not be allowed.
28/4/2009 ECS- Quarterly
28th April 7th, 15th, or 28th of May
Since all new ECS dates are within days of grace, hence allowed.
………….2…………………..
Other conditions:-
1. Written request from policyholder to change the ECS due date should be obtained.
2. Change in ECS date should be effected at least 10 days before old ECS due date.
3. New RFM option no 77 – S.2.1.B.6.3.1.77 is provided.4. Alteration fee will not be charged. No need to make any endorsement.5. Days of grace will be counted from original date of commencement and not
from new / old ECS due date.
ALLOWING OF ECS MODE OTHER THAN MONTHLY AT PROPOSAL STAGE
At present, ECS- monthly mode of payment is allowed at NB stage while capturing the proposal data. Now, it has been decided to introduce other ECS mode like Quarterly, Half-yearly and Yearly at proposal stage also. All other requirements like ECS mandate form, blank cancelled cheque leaflet should be obtained. While making the data entry , proper care should be taken to enter correct information.
The provisions of this circular will come into effect immediately.
EXECUTIVE DIRECTOR( CRM)
Dear Rakesh
We conduct Diploma in Materials Management which is one year DISTANCE LEARNING program. Admission for July, 2010 batch is already started. and u can take admission ASAP.This course is recognized by Distance Education Council (DEC), a body of the Government of India. Students can opt for the program through one of the following options:-
1 Type I Monday to Friday, 6.30 pm to 8.30 pm at Podar / Ruia College, Mumbai. not AVAILABLE2 Type II All Sundays, between 9.00 am to 6.00 pm at Podar / Ruia College, Mumbai. Fees Rs. 22500/- 3 Type III Prescheduled Personal Contact Programs (PCPs) announced from time to time are held in Matunga, Borivali, Dombivli or Pune Fees. -10700/-
Eligibility>>Graduate in any faculty (Arts, Commerce, Science, Engineering, Pharmacy, Medicine, Architecture, Computer Science and Business Administration). Students who have appeared for Final year exams can also apply.
Admission will be granted only on submission of the attested Xerox copies of their degree certificates/final year mark sheets and subject to the student successfully completing the Degree prior to the commencement of the program.
>>Diploma holders in Engineering, Technology, Chemical, Pharmacy, Textile, Printing Technology, Computer Science, Business Administration and other Vocational Diploma courses.
>>Passed Class XII and having two year full-time work experience post class XII may apply. Candidates will need to produce work experience certificate at the time of admission.
Admission procedure :-The Prospectus & Application form for the One Year Diploma Courses can be purchased from the office of our institution by paying Rs. 100/-orYou can also download the application from our website by clicking on Download in which case Rs. 150/- will be added to the course fee.orDIRECT ADMISSION – Send a DD of Rs. 150/- along with the course fee in favour of ‘Welingkar Institute of Management’, payable at Mumbai and all the relevant documents. Online registration will be done by the institution.
Structure of the Program Diploma in Materials Management :-
Semester I Semester IISub-Code
Name of SubjectSub-Code
Name of Subject
1 Principles of Management 6 Human Resource Management2 Marketing Management 7 Information Technology for Management3 Business Communication 8 Supply Chain Management4 Purchasing & Materials Management 9 Inventory Management5 Production Management 10 World Class Manufacturing
Examination-
The examination is carried out on a flexible & convenient online system, based on semester pattern at Aptech Centres. It is held in the month of December & May every year. The duration of each exam is 1 hour. This course has only one final examination. Online exams will be given in English only.
Payment Structure :-
The student can pay the fee either in cash or by local cheque or by a DD in the name of 'Welingkar Institute of Management' payable at Mumbai.
for more details, please go through the website www.welingkaronline.org or revert back
regards
Space magnum pdc cheque details :
Cheque no- cheque date Cheque amt177887 15.06.10 76,366/-177888 25.06.10 97,369/-
----------------- 1,73,735/-
Company Name
FILPACK ENGINEERING PVT LTD
Phone
000-000-91-11-42709291 / 41410432
Address Line1
A 33,PHASE 1,NARAINA INDL AREA
City
NEW DELHI
State
DELHI
Country
India
Zip/Postal Code
110028
Click to send Email
Website
www.filpackengineering.com
Indianexporters.com
JimTrade.com :-
Address : A-33, Phase - 1, Naraina Industrial Area, New Delhi, Delhi - 110028
Telephone No. : 91-11-25893219
Fax No. : 91-11-25791111
2537 5526
.
the confusion over honouring cheques with corrections, the Reserve Bank of India said this will be applicable only for cheques cleared under the image-based cheque truncation system (CTS). According to a RBI notification, this has been introduced to curtail cheque frauds on account of alterations in cheques and protect customers as well as banks.
“Collecting banks should ensure, that such cheques are not accepted for presentment in CTS,” RBI said.
Currently, the cheque truncation project is being run only in the Delhi.
This is not applicable to cheques cleared under other clearing arrangements such as MICR clearing, non-MICR clearing, over the counter collection (for cash payment) or direct collection of cheques outside the Clearing House arrangement .
The RBI had earlier stated that, “No changes or corrections should be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount
(amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This would help banks to identify and control fraudulent alterations.”
Or Call 022-40561937 OR 9869304657 DIPALI
TIN 07500232124
CST Number 07500232124
Dealer Name FIL PACK ENGINEERING (P) LTD
Dealer Address A-32 NARAINA INDL AREA PHASE-I
NEW DELHI 110028
State Name Delhi
Date of Registration under CST Act
(DD/MM/YY)
01/04/05
Dealer Registration Status under CST Act Active Dealer
This record is valid as on
(DD/MM/YY)
09/02/09
http://news.infibeam.com/blog/news/2010/04/16/samsung_intros_corby_tv_metro_tv_with_integrated_broadband_mobile_tv.html
Courses
Course Structure
The course of M.Com. consists of 3 compulsory papers and 5 Papers in each Optional Group. Student has to select any one of the optional group of papers.
Compulsory Papers 1. Strategic Management2. Economics of Global Trade and Finance3. Research Methodology in Commerce
Optional Group of Papers
1. Business Management2. Banking and Finance3. Advanced Accountancy
Syllabus and Examinations
The syllabi in the papers prescribed for the M.Com. examination can be obtained from the office of the University Department of Commerce.
M. Com.:- PART I - Syllabus and Examination
Compulsory Papers :1. Strategic Management2. Economics of Global Trade and Finance
Optional Group :
1. Business Management Paper-I Human Resource Management Paper-II Marketing Strategies and plans
2. Banking and Finance Paper-I Commercial Banks Management Paper-II Financial Banks Management
3. Accountancy Paper-I Advanced Financial Accounting Paper-II Advanced Cost Accounting
Examination : A candidate for being eligible for admission to Part-I of the examination shall have kept two terms subsequent to his/her passing the Bachelor of Commerce Examination.
Standard for Passing Examination :
To pass the Part I examination, a candidate must obtain at least 40% of the marks in each of the paper prescribed for the examination.
M.Com. Part-II
Compulsory Paper1) Research Methodology in Commerce
Optional PapersBusiness Management : Paper III Organisational BehaviorPaper IV International MarketingPaper V Entrepreneurial ManagementBanking & Finance : Paper III Financial MarketsPaper IV International FinancePaper V Investment Management
Ph.D. (in Commerce) Admission ProcedureAdmission in the Department of Commerce is based on Merit
Fee Structure
Fee Head M.Com-I M.Com-II
Tuition Fee Ist and IInd Term Rs.1000/- Rs.1000/-
Application Form Fee --- Rs.100/-
P.G. Registration Rs.800/- ---
Registration Form Fee Rs.15/- ---
Caution Money Deposit Rs.10/- Rs.10/-
Library Fee Rs.200/- Rs. 200/-
Students Union Fee Rs.10/- Rs.10/-
Cult. Activities Fee Rs.16/- Rs.16/-
Gymkhana Fee Rs.125/- Rs.125/-
E-Charge Rs.20/- Rs.20/-
Disaster Fee Rs.10/- Rs.10/-
Group Insurance Fee Rs.20/- Rs.20/-
Total Rs.2226/- Rs. 1511/-
RBI has issued RBI Circular No. – DPSS.CO.CHD.No. 1832/04.07.05/2009-10 dated 22nd February 2010 by virtue of which Banks are supposed to prohibit alterations / corrections on the cheque leaf. Circular summary is as follows:-
Prohibiting alterations / corrections on cheques : No changes / corrections should be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This would help banks to identify and control fraudulent alterations. Based on the above guidelines Banks clearing teams can return cheques which have any alteration in the
Payee Name
Amount in numbers
Amount in words
The only alteration which is allowed is the alteration in the date.
Read more: http://www.taxguru.in/rbi/cheques-with-alterationcorrections-will-not-be-honoured-from-1st-july-2010.html#ixzz0sDaa4jpT
The RBI directive to banks, asking them not to honour cheques with overwriting, will come into effect from December 1 instead of the earlier scheduled date of July 1, the apex bank said in its latest circular. The new rule is intended to prevent fraudulent withdrawal of money and expedite clearance of cheques.
Meanwhile, telecom company Bharti Airtel subscribers received an SMS on June 28 that said “as per RBI, cheques with changes in amount or payee name (despite signature next to them) will not be cleared with effect from July 1.”
However, Airtel today said that it is in the process of sending a revised advisory to its customers informing them about the change in the deadline to December 1.
RBI/2009-10/503DPSS. CO. CHD. No. 2806/04.07.05/2009-10
June 22, 2010
Read more: http://www.taxguru.in/rbi/cheque-with-alterationcorrections-will-be-honoured-till-30th-november-2010.html#ixzz0sP4rX3Km
Read more: http://www.taxguru.in/rbi/cheque-with-alterationcorrections-will-be-honoured-till-30th-november-2010.html#ixzz0sP4ZT6ns
THE KISAN SAHKARI CHINI MILLS LTD.,SATHIAON,AZAMGARH
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श्रे�णी� : भू मिम जो# सं�क्रमणी�या भू मिमधर& का� अमिधका�र म( हे#। र�मचे�ते चे#लई निना0 ग्रा�म 253 0.2430
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- Candidate registering on line application should have a valid e-mail ID.
-Candidates should pay postage/fees at any branch of Bank of Maharashtra and obtain the transaction/journalno. and enter in the online application. And candidates sending application by post must enclose the photostat copy of the counter foil of the pay in slip of fees/postage paid at any branch of Bank of Maharashtra. TheFees paid by DD/Bankers'chque payable at Pune must accompany the application. Without payment offees/postage, the application is liable for rejection. Applications received after closing date will not beaccepted/registered.
-After applying on-line, the registered candidates should obtain a system-generated printout of the registeredinformation, sign at the appropriate place and must submit at the time of interview if called for..
-A recent recognizable photograph should be pasted on the Printout/application.Call Letters for Interview:The short listed and eligible candidates will be issued call letters for interview by e-mail and by a letter at thecorrespondence address given by the candidate in his/her application, by post. Similarly the names of the short listedeligible candidates for interview with roll numbers will be placed on Bank's website.Place: Pune Date:-01-07- 2010General Manager (HRM)Bank of Maharashtra invites applications from Indian Citizens for the posts in Clerical cadre:Total Vacancies : 650Candidates are requested to apply on-line from 01-07-2010 to 20-07-2010 through Bank's websitewww.bankofmaharashtra.in .OR in a prescribed application form by ordinary post to the below statedaddress so as to reach us on or before 24-07-2010. For candidates from far flung areas the last date forreceipt of application in prescribed form is 31-07-2010.Mailing Address"BANK OF MAHARASHTRA CLERICAL RECRUITMENT PROJECT-2010" POST BOXNO. 912 , SHIVAJI NAGAR, PUNE.- 411005Interested candidates may refer Employment News .or the Bank's website www.bankofmaharashtra.in for details.More Information Bank of Maharashtra Recruitment 2010Download ChallanDownload Application FormatOnline Apply
Review these typical interview questions and think about how you would answer them. Read the questions listed; you will also find some strategy suggestions with it.
1. Tell me about yourself:
The most often asked question in interviews. You need to have a short statement prepared in your mind. Be careful that it does not sound rehearsed. Limit it to work-related items unless instructed otherwise. Talk about things you have done and jobs you have held that relate to the position you are interviewing for. Start with the item farthest back and work up to the present.
2. Why did you leave your last job?
Stay positive regardless of the circumstances. Never refer to a major problem with management and never speak ill of supervisors, co- workers or the organization. If you do, you will be the one looking bad. Keep smiling and talk about leaving for a positive reason such as an opportunity, a chance to do something special or other forward- looking reasons.
3. What experience do you have in this field?
Speak about specifics that relate to the position you are applying for. If you do not have specific experience, get as close as you can.
4. Do you consider yourself successful?
You should always answer yes and briefly explain why. A good explanation is that you have set goals, and you have met some and are on track to achieve the others.
5. What do co-workers say about you?
Be prepared with a quote or two from co-workers. Either a specific statement or a paraphrase will work. Jill Clark, a co-worker at Smith Company, always said I was the hardest workers she had ever known. It is as powerful as Jill having said it at the interview herself.
6. What do you know about this organization?
This question is one reason to do some research on the organization before the interview. Find out where they have been and where they are going. What are the current issues and who are the major players?
7. What have you done to improve your knowledge in the last year?
Try to include improvement activities that relate to the job. A wide variety of activities can be mentioned as positive self-improvement. Have some good ones handy to mention.
8. Are you applying for other jobs?
Be honest but do not spend a lot of time in this area. Keep the focus on this job and what you can do for this organization. Anything else is a distraction.
9. Why do you want to work for this organization?
This may take some thought and certainly, should be based on the research you have done on the organization. Sincerity is extremely important here and will easily be sensed. Relate it to your long-term career goals.
10. Do you know anyone who works for us?
Be aware of the policy on relatives working for the organization. This can affect your answer even though they asked about friends not relatives. Be careful to mention a friend only if they are well thought of.
11. What kind of salary do you need?A loaded question. A nasty little game that you will probably lose if you answer first. So, do not answer it. Instead, say something like, That’s a tough question. Can you tell me the range for this position? In most cases, the interviewer, taken off guard, will tell you. If not, say that it can depend on the details of the job. Then give a wide range.
12. Are you a team player?You are, of course, a team player. Be sure to have examples ready. Specifics that show you often perform for the good of the team rather than for yourself are good evidence of your team attitude. Do not brag, just say it in a matter-of-fact tone. This is a key point.
13. How long would you expect to work for us if hired?
Specifics here are not good. Something like this should work: I’d like it to be a long time. Or As long as we both feel I’m doing a good job.
14. Have you ever had to fire anyone? How did you feel about that?
This is serious. Do not make light of it or in any way seem like you like to fire people. At the same time, you will do it when it is the right thing to do. When it comes to the organization versus the individual who has created a harmful situation, you will protect the organization. Remember firing is not the same as layoff or reduction in force.
15. What is your philosophy towards work?
The interviewer is not looking for a long or flowery dissertation here. Do you have strong feelings that the job gets done? Yes. That’s the type of answer that works best here. Short and positive, showing a benefit to the organization.
16. If you had enough money to retire right now, would you?
Answer yes if you would. But since you need to work, this is the type of work you prefer. Do not say yes if you do not mean it.
17. Have you ever been asked to leave a position?
If you have not, say no. If you have, be honest, brief and avoid saying negative things about the people or organization involved.
18. Explain how you would be an asset to this organization.
You should be anxious for this question. It gives you a chance to highlight your best points as they relate to the position being discussed. Give a little advance thought to this relationship.
19. Why should we hire you?
Point out how your assets meet what the organization needs. Do not mention any other candidates to make a comparison.
20. Tell me about a suggestion you have made.
Have a good one ready. Be sure and use a suggestion that was accepted and was then considered successful. One related to the type of work applied for is a real plus.
21. What irritates you about co-workers?
This is a trap question. Think real hard but fail to come up with anything that irritates you. A short statement that you seem to get along with folks is great.
22. What is your greatest strength?
Numerous answers are good, just stay positive. A few good examples: Your ability to prioritize, Your problem-solving skills, Your ability to work under pressure, Your ability to focus on projects, Your professional expertise, Your leadership skills, Your positive attitude
23. Tell me about your dream job.
Stay away from a specific job. You cannot win. If you say the job you are contending for is it, you strain credibility. If you say another job is it, you plant the suspicion that you will be dissatisfied with this position if hired. The best is to stay genetic and say something like: A job where I love the work, like the people, can contribute and can’t wait to get to work.
24. Why do you think you would do well at this job?
Give several reasons and include skills, experience and interest.
25. What are you looking for in a job?
See answer # 23
26. What kind of person would you refuse to work with?
Do not be trivial. It would take disloyalty to the organization, violence or lawbreaking to get you to object. Minor objections will label you as a whiner.
27. What is more important to you: the money or the work?
Money is always important, but the work is the most important. There is no better answer.
28. What would your previous supervisor say your strongest point is?
There are numerous good possibilities:Loyalty, Energy, Positive attitude, Leadership, Team player, Expertise, Initiative, Patience, Hard work, Creativity, Problem solver
29. Tell me about a problem you had with a supervisor.
Biggest trap of all. This is a test to see if you will speak ill of your boss. If you fall for it and tell about a problem with a former boss, you may well below the interview right there. Stay positive and develop a poor memory about any trouble with a supervisor.
30. What has disappointed you about a job?
Don’t get trivial or negative. Safe areas are few but can include:Not enough of a challenge. You were laid off in a reduction Company did not win a contract, which would have given you more responsibility.
31. Tell me about your ability to work under pressure.
You may say that you thrive under certain types of pressure. Give an example that relates to the type of position applied for.
32. Do your skills match this job or another job more closely?
Probably this one. Do not give fuel to the suspicion that you may want another job more than this one.
33. What motivates you to do your best on the job?
This is a personal trait that only you can say, but good examples are: Challenge, Achievement, Recognition
34. Are you willing to work overtime? Nights? Weekends?
This is up to you. Be totally honest.
35. How would you know you were successful on this job?
Several ways are good measures:You set high standards for yourself and meet them. Your outcomes are a success.Your boss tell you that you are successful
36. Would you be willing to relocate if required?
You should be clear on this with your family prior to the interview if you think there is a chance it may come up. Do not say yes just to get the job if the real answer is no. This can create a lot of problems later on in your career. Be honest at this point and save yourself uture grief.
37. Are you willing to put the interests of the organization ahead of your own?
This is a straight loyalty and dedication question. Do not worry about the deep ethical and philosophical implications. Just say yes.
38. Describe your management style.
Try to avoid labels. Some of the more common labels, like progressive, salesman or consensus, can have several meanings or descriptions depending on which management expert you listen to. The situational style is safe, because it says you will manage according to the situation, instead of one size fits all.
39. What have you learned from mistakes on the job?
Here you have to come up with something or you strain credibility. Make it small, well intentioned mistake with a positive lesson learned. An example would be working too far ahead of colleagues on a project and thus throwing coordination off.
40. Do you have any blind spots?
Trick question. If you know about blind spots, they are no longer blind spots. Do not reveal any personal areas of concern here. Let them do their own discovery on your bad points. Do not hand it to them.
41. If you were hiring a person for this job, what would you look for?
Be careful to mention traits that are needed and that you have.
42. Do you think you are overqualified for this position?
Regardless of your qualifications, state that you are very well qualified for the position.
43. How do you propose to compensate for your lack of experience?
First, if you have experience that the interviewer does not know about, bring that up: Then, point out (if true) that you are a hard working quick learner.
44. What qualities do you look for in a boss?
Be generic and positive. Safe qualities are knowledgeable, a sense of humor, fair, loyal to subordinates and holder of high standards. All bosses think they have these traits.
45. Tell me about a time when you helped resolve a dispute between others.
Pick a specific incident. Concentrate on your problem solving technique and not the dispute you settled.
46. What position do you prefer on a team working on a project?
Be honest. If you are comfortable in different roles, point that out.
47. Describe your work ethic.
Emphasize benefits to the organization. Things like, determination to get the job done and work hard but enjoy your work are good.
48. What has been your biggest professional disappointment?
Be sure that you refer to something that was beyond your control. Show acceptance and no negative feelings.
49. Tell me about the most fun you have had on the job.
Talk about having fun by accomplishing something for the organization.
50. Do you have any questions for me?
Always have some questions prepared. Questions prepared where you will be an asset to the organization are good. How soon will I be able to be productive? and What type of projects will I be able to assist on? are examples.
Director Responsibility for Dishonour of Cheque
Cheque Bounce Rule : Sec; 138(legal & finance id dt: 14.07.10)
We need not go into the background concerning the usage of cheque and it is a reality now that the payments through cheque have become an indispensable part of the mercantile community and even the public in general. In fact, payments through cheque is encouraged and made mandatory in view of certain regulations and as a best accounting practice. Considering the usage of cheque and its significance and in order to give the needed credibility to the cheque, the legislature has thought it fit to bring a stringent law dealing with dishonor of cheques. As a result, the Negotiable Instruments Act, 1881 was amended and 138 to 142 have been introduced in the Act specifically dealing with dishonor of cheques. Before the introduction of section 138 to 142, an act of dishonour of cheque is considered as a civil issue and the aggrieved is only provided with Civil Remedy which consumes lot of time and also costly. The legislature had further felt that the provisions introduced in the Negotiable Instrument (N.I.) Act in the year 1989 dealing with the dishonour of cheques could not be effective and speedy, and further provisions 143 to 147 were introduced through 2002 amendment to the N.I.Act. The provisions introduced in the year 2002 were basically of procedural in nature and aimed at reducing delay in disposal of “138 cases”/Dishonour of Cheque cases. Unless otherwise specifically provided, the procedure to be followed in criminal cases is provided in the Code of Criminal Procedure. Despite making efforts to make certain enactments like the provisions dealing with the dishonour of cheques self-contained, the Courts had to depend on certain provisions of Code of
Criminal Procedure very often. Making a balance between the object of special provisions like dishonor of cheques and the rights of the accused has become a complicated exercise for the courts.
The gist of the provisions dealing with ‘dishonour of cheques” is as follows:
1. The holder of cheque in due course can present the cheque to the Bank within 6 months from the date of the cheque.
2. When the cheque is dishonoured, then, the drawee, if chooses to take action against the drawer, should give a notice or intimation in demand to the drawer about dishonour of cheque and there should be a demand for payment of the Amount.
3. The drawee who receives a notice from the drawee for dishonour of cheque is supposed to reply the notice within 15 days or makes the payment.
4. If the payment is not made within 15 days, then the drawee can file a Complaint in writing to the Court within 1 month.
5. If the offence is proved, then, the Court can impose fine and also the accused may be sentenced to imprisonment upto 2 years.
6. There is a presumption in favour of the drawee that the there exists a legally enforceable debt.
7. If the Cheque issued by or on-behalf of the Company is dishonored, then, the persons in-charge of and responsible to the affairs of the Company can also be booked for an offence under section 138 of N.I.Act.
Though the law dealing with the dishonour of cheques appears to be simple, there are so many complications and many feel that the provisions are being misused very often. I do strongly feel that the provisions dealing with dishonour of cheques are being misused very often and some are proceeding with the illegality indirectly using the penal provisions to their advantage. Normally, the cheque is issued for a legally enforceable debt or liability, but, there is a presumption in section 139 of the Act in favour of the drawee that the cheque is issued by the Drawer for a legally enforceable debt. What happens is that, when there is a presumption in favour of drawee, then, it is the duty of the Accused to rebut that presumption. This is one of the controversial areas among many. There are conflicting judgments and views on this and there are allegations that the provisions are being misused and in some cases, the exercise of power by the concerned magistrate in a judicious way is also under suspicion.
Even if one issues a cheque for 2,000/- and if that is dishonored on the instructions of the Drawer for good and justifiable reasons, the drawer can be imprisoned upto 2 years depending upon the discretion of concerned Magistrate. These penal provisions and presumptions are very often misused. The Magistrate can award compensation and fine, and even then, if Magistrate chooses to impose a sentence of imprisonment strictly applying the provisions, then, it may appear legal and even the Appellate Court and Constitutional Courts are at times, support the strict applicability of the penal provisions dealing with dishonour of cheques.
Thus, though, there are only 9 sections in the Act dealing with the criminal liability of dishonour of cheques apart from other few provisions, the subject is so complicated.
Director’s liability for the dishounour of cheque when the cheque is issued on-behalf of the Company:
Company is a juristic person and can not be imprisoned. Dealing with the issue of dishonour of cheques issued by Companies, the provisions dealing with the dishonour of cheques make it clear that that the persons in-charge of and responsible to the affairs of the Company can be taken to task when the cheque issued on-behalf of the Company is dishonoured for want of funds and even for other reasons. The issue as to on what ground the cheque dishonoured is another complicated issue. There is plethora of judgments on the issue of dishonor of cheques issued by the Companies and few issues are as follows:
1. There were judgments saying that there is no need to give a notice to the persons responsible or in-charge for the affairs of the Company and it is sufficient if notice is given to the Company when the cheque is dishonored.
2. There are judgments saying that the Managing Director can never say that he is not in-charge of or responsible to the affairs of the Company.
3. There are judgments saying that the accountants and secretaries of the Company are unnecessarily implicated in ‘dishonour of cheque cases’.
4. There are issues where the Magistrate insists for the personal appearance of the Accused or even the Director, for many reasons and despite the directives of the Constitutional Courts that the presence of the complainant/accused can be exempted unless really required.
I have only mentioned few issues in the provisions dealing with the dishonour of cheque issued by Companies. There are contradictory judgments and views on the issues. In practice, no Company issues a cheque without any documentary proof or basis for the issuance of Cheque, but, this can be ignored easily if the provisions sought to be misused. If really there is involvement and dishonest intention on the part of the Director as proved based on documentary evidence and probabilities, then, he can be taken to task. But, merely, using the provisions dealing with the ‘dishonour of cheques’, the directors or the top of management of Company can not be troubled and the misuse of provisions can not be allowed. There are many judgments on the issue of director’s responsibility and from the background of each case, it can be found that the provisions were misused and the Constitutional Court had to say very often that the directors could not have been taken to task as there can not be any involvement of directors. There are views as to what is wrong if a proceeding under section 138 of N.I.Act is filed and pending against a Director as he can prove his innocence during trial. But, the time and mental torture for the Directors who at times are burdened with so many responsibilities can not be easily ignored. Many issues are to be considered while dealing with the responsibility of the Directors when the cheque is issued on-behalf of the Company and the few issues are as follows:
1. The Cheque Amount.
2. The size of the Company.
3. The status and the relation of the Complainant with the Company.
4. The transaction in particular.
If the required issues are considered by the Magistrates when the Directors contend that they are not responsible and seek for discharge in right perspective and the object of the legislation, then, many cases
now pending on directors for the dishonour of cheques issued by the Company are bound to fail. When Directors feel that they are unnecessary implicated in the issue, then, they will either seek for discharge from the case in the concerned Magistrate Court or approach the High Court seeking to quash the proceedings as such. The issue of Director’s responsibility and even the penal provisions dealing with dishonour of cheques are complicated and there so many complicated issues. I would like to quote a very good observation of High Court of Andhra Pradesh in the matter of Rohinton Noria Vs. M/s. NCC Finance Ltd reported in 2000 (106) CRLJ 4117 AP: 2000 (2) ALT (Cri) 27: 2000 (1) ALD (Cri) 664 and the same is extracted below:
“It is being observed that in complaints filed for offence under Section 138 of the Negotiable Instruments Act, all the Directors of the Company are routinely being proceeded against ‘by invoking the provision under Section 141 of the Negotiable Instruments Act by glibly repeating the words in the section that certain director “was incharge of and responsible to the company for the conduct of business of the company’. It is necessary to emphasize that Section 141 of the Negotiable Instruments Act where an offense under Section 138 of the Negotiable Instruments Act has been committed by a company, the complainant is required to give a serious thought and make enquiries and ascertain the fact as to whether a particular director was incharge of and responsible to the affairs and conduct of the business of the company. Routinely roping in all the Directors by merely repeating the words used in Section 141 of Negotiable Instruments Act without ascertaining the facts is a serious matter which has to be deprecated. However, it is a question of fact which necessarily has to be decided during the trial.”
The detailed directives given by the Constitutional Courts at times on the issue of dishonour of cheques is a testimony to the complications involved in the subject.
Note: though the subject is very vast and complicated, I have only provided a small brief, am aware of all the concerned issues and complications.
AUTHOR:
V.Durga Rao, Advocate, Madras High Court.
Email: [email protected]
Read more: http://www.taxguru.in/company-law/director%e2%80%99s-responsibility-for-dishonour-of-cheques.html#ixzz0teMYstbz
Notice from Praveen Sood (Additional Commissioner for Traffic, Mumbai) - 022 - 22942276."
Dear All,
Please forward this mail as many as you can..do your bit for to help the ignorant. Take a printout of this and keep it in your Vehicle's glove compartment.
May come handy... Not knowing this may leave a big hole in your pocket.
Information you should have: If you are getting caught quite often by traffic police, then please read on.
From now onwards, the Traffic Police cannot catch a motorist just to examine the driving license or vehicle documents.
They can catch you only if you have violated any traffic laws or if you are driving drunk. Remember that when caught for traffic violation, the fine you pay must be limited to the violation. In other words, the police can't bloat the bill saying that you have no insurance cover or emission certificate, etc.
Many motorists do not know this. According to the law, no policeman can slap a penalty on you just because you have no insurance or emission certificate.
If you have not purchased insurance cover for your vehicle, then the police officer must issue a notice, not impose penalty.
You must be given 15 days' time to purchase insurance cover and one week for obtaining the emission certificate.
Days later, meet the sub-inspector at his station with the insurance cover or emission certificate, so that he will annul the charge at once.
Police can fine you only if you fail to produce these documents within the stipulated period.
If your vehicle is brand new, then you need not bother about obtaining the emission certificate for one full year.
In response to a question as to why policemen fine people instantly without giving them time to obtain insurance cover or emission certificate, Additional Commissioner for Traffic Praveen Sood said, "Yes, it is a mistake. People must force policemen to issue notice or complain to me at least the following day.”
The best way to teach the police a lesson is by filing a written complaint with their higher officials and, a week later, using the Right to Information Act (RTI) to know the action taken against them. Remember, any question or application filed under RTI cannot be ignored and no official is bold
enough to ignore the RTI Act.
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Life insurance agents may lose their licences if the annual persistency ratio of their clients’ policies is less than 50 per cent. In an exposure draft on persistency in life insurance policies announced on Saturday, the Insurance Regulatory and Development Authority proposed norms for enhancing the performance of agents.
Conditions
It has proposed a minimum of 20 policies per agent a year and the first year premium income to be procured by an agent at Rs 1.5 lakh per annum. If these two conditions were not met, the agent would have to achieve proportionately more in either one to make up for the shortfall in the other. Spouses and close relatives of employees of insurers should not be engaged as agents.
Disincentive
Further, there should be a disincentive for lapse in the form of commission clawback by the insurer, on a proportionate basis, the draft said. “These proposals would be a step forward in protecting the interests of policyholders, who stand to gain if persistency is high, both in terms of protection of life and profitability of the life insurance business,” Mr A. Giridhar, Executive Director, IRDA, said. Feedback on the proposals could be sent to the Authority on or before, July 31. Persistency is the percentage of business retained without policy lapse or surrender.
Read more: http://www.taxguru.in/irda/irda-proposes-norms-for-enhancing-the-performance-of-agents.html#ixzz0uJaVNWMd
Registered Office Nicholas Piramal Tower, Peninsula Corporate Park, Ganpatao Kadam Marg, Lower Parel,Mumbai - 400013Maharashtra - IndiaPhone : 30466969Fax : 24908824Email : [email protected] : N.A.
Factory/plant ONGC Road Tarsadi Village, Kosamba Surat District - 394120Gujarat - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Gajera Road Ucchad Village Jambusar, Bharuch District - 392150Gujarat - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Branch Office Peninsula Centre, Dr. S. S. Rao Road, Parel Mumbai - 400012Maharashtra - IndiaPhone : 24105685Fax : 66618788Email : [email protected] : N.A.
Registered Office Piramal Tower Ganpatrao Kadam Marg Lower Parel, Mumbai - 400013Maharashtra - IndiaPhone : 30466969Fax : 24908824Email : [email protected] : N.A.
Administrative Office Peninsula Centre, Dr. S. S. Rao Road, Parel Mumbai - 400012Maharashtra - IndiaPhone : 24105685Fax : 66618788Email : [email protected] : N.A.
Registered Office Piramal Tower, Ganpatrao Kadam Marg, Lower Parel Mumbai - 400013
Maharashtra - IndiaPhone : 30466969, 30467836Fax : 24908824, 24902363Email : [email protected] : N.A.
Factory/plant ONGC Road, Tarsadi Village, Kosamba Surat District - 394120Gujarat - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Gajera Road, Ucchad Village, Jambusar Bharuch District - 392150Gujarat - IndiaPhone : Fax : Email : N.A.
Your 'Request For Changes Or Correction in PAN Data for PAN Allotted' Application Status
Acknowledgement Number : 061940100271431
Permanent Account Number (PAN)
: AABPS6310G
Name : MUKESH RAMNIKLAL SHAH
Category : Individual
Status :Your application for 'New PAN Card or/and Changes or Correction in PAN Data' is under process at Income Tax Department
1. PAN card will be despatched only to the communication address provided in your PAN application. *Wherever the Representative Assessee (RA) details (item no.14 in Form 49A) are mentioned in the application, PAN Card will be despatched to the RA's address.
2. If your communication address has changed, please submit a 'Request for New PAN Card or/and Changes or Correction in PAN data' form so that the Income Tax Department's database is updated with your current address.
3. Written communication from the Income Tax Department will be directed to the communication address recorded against your PAN. So to avoid any inconveniences in future, please ensure that your communication address is up-to-date in the Income Tax Department's database
The Supreme Court ruled last week that prosecution for issuing a cheque which was dishonoured for want of credit in the bank can be initiated only against the person who issued the cheque and not against the company or directors who were not aware of it. It quashed the Madras high court order to try the company, the chairman and the managing director in the judgement, PJ Agro Tech Ltd vs Water Base Ltd. The two companies had entered into an agreement for distribution of prawn feed in Andhra Pradesh. However, it did not succeed and PJ Agro authorised the other company to collect its dues from customers who had not paid for the goods. It appointed a coordinator for the purpose. He issued a
cheque to Water Base which bounced, leading to the filing of charges under the Negotiable Instruments Act.
The Supreme Court explained that the coordinator might have issued the cheque for the benefit of PJ Agro, but the directors of the latter company were not responsible for the default.
Read more: http://www.taxguru.in/corporate-law/supreme-court-rules-directors-not-responsible-for-dishonoured-cheque.html#ixzz0vW1qxxKq
The Centralised Processing Centre of the Income Tax Department here has processed over 26 lakh e-filed returns in Forms 1-4 for the assessment year 2009-10. It has determined refunds in over five lakh cases. A release said refunds are being sent through State Bank of India. The status of these refunds can be checked at CPC’s call centre (080-43456700) or at www.tin-nsdl.com.
The department has been informed by the bank that a large number of refund cheques in respect of paper returns for 2008-09 have been returned by the postal authorities owing to change in address or for other similar reasons. Many refunds in ECS mode have not been successfully credited to taxpayers accounts because of incomplete/incorrect MICR and bank account details. Details of these returned intimations are available at www.incometax bangalore-.org. In respect of paper returns of salary ranges of Bangalore for 2008-09 processed at the CPC, taxpayers may contact the PRO, Income-tax Department at Ground Floor, Central Revenue Buildings, Queen’s Road, Bangalore.
They may collect the returned intimation and update their details of address/bank accounts/MICR code by writing to CPC, Bangalore at CPC, Post Bag No. 1, Bangalore–560100. In case of updated bank
account/MICR code, taxpayers should enclose a copy of a cancelled cheque while giving the details, the release added.
REFUND STATUS
The ‘Refund Banker Scheme,’ which commenced from 24th Jan 2007, is now operational for Non-corporate taxpayers assessed in Delhi, Mumbai, Kolkata, Chennai, Bangalore, Bhubaneswar, Ahmedabad, Hyderabad, Pune, Patna, Cochin, Trivandrum, Chandigarh, Allahabad, and Kanpur.
In the ‘Refund Banker Scheme’ the refunds generated on processing of Income tax Returns by the Assessing officers/ CPC-Bangalore are transmitted to State Bank of India, CMP branch, Mumbai (Refund Banker) on the next day of processing for further distribution to taxpayers.
Refunds are being sent in following two modes: i. RTGS / NECS: To enable credit of refund directly to the bank account, Taxpayer’s Bank A/c (at
least 10 digits), MICR code of bank branch and correct communication address is mandatory. ii. Paper Cheque: Bank Account No, Correct address is mandatory.
Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker – by entering ‘PAN’ and ‘Assessment Year’ below.
Other Refunds
Status of ‘paid’ refund, being paid other than through ‘Refund Banker,’ can also be viewed at www.tin-nsdl.com by entering the ‘PAN’ and ‘Assessment Year’ .
‘Refund paid’ status is also being reflected in the ‘Tax Credit Statements’ in Form 26AS.
Please enter your Permanent Account Number and Assessment Year for which status of refund is to be tracked at the link given below.
Click to Kn ow Your Income Tax Refund Status
FAQ in respect of Income Tax Refund
Q. From which date the refund banker has been implemented?
A. The refund banker has been implemented from January 24, 2007.
Q. In which cities the refund banker has been implemented?
A. The refund banker facility is operational for non-corporate taxpayers assessed in Delhi, Mumbai, Kolkata, Chennai, Bangalore, Bhubneshwar, Ahmedabad, Hyderabad, Pune, Patna, Cochin, Trivandrum, Chandigarh, Allahabad, and Kanpur.
Q. Who will send the refund to me?
A. The State Bank of India (SBI) is the refund banker to the Income Tax Department (ITD). The Cash Management Product department of SBI (CMP SBI) processes the refunds under the refund banker
scheme. Details of refunds are forwarded to CMP SBI by the ITD. CMP SBI processes the refunds and sends the refund intimation to the taxpayer.
Q. How will the refund be sent to me?
A. Refunds are generated in two modes i.e., ECS and paper . If the taxpayer has selected mode of refund as ECS (direct credit in the bank account of the taxpayer) at the time of submission of income return the taxpayer’s bank A/c (at least 10 digits ) and MICR code of bank branch and communication address are mandatory .
For taxpayers who have not opted for ECS refund will be disbursed by cheque or demand draft. For generation of refund through paper cheque bank account no, correct address is mandatory.
From May 2008 refund is also effected by National Electronic Fund Transfer (NEFT).
Q. How can I know the status of my refund?
A. The taxpayer can track the status of its refund from the Departmental Website www.incometaxindia.gov.in / NSDL-TIN website www.tin-nsdl.com by clicking on “Status of Tax Refunds”.
Refund status can be tracked by entering the PAN and Assessment Year for which refund is to be tracked.
Status of the refund can also be tracked by contacting the help desk of SBI’s at toll free number: 18004259760 or email at: – [email protected].
Q. If I have shifted my residence whom should I contact for updating my correspondence address for receipt of refund?
A. The tax payer should contact its Assessing Officer and inform about the change in the correspondence address.
Q. If my bank account has been closed how will I get refund credit into the account?
A. In case of change or updation in the bank account number the taxpayer should provide the correct account number along with the MICR code where credit is to be effected to the Assessing Officer.
Q. Whom do I contact if the refund dispatched has not been received?
A. The tax payer can contact its local post office with the speed post ref no displayed at the NSDL-TIN website
Q. I have received the physical ECS refund advice and status of refund is “paid” on website of refund status track but my account has not been credited. Whom do I contact?
A. In case credit is not effected in the taxpayer account through ECS but the refund advice has been received by the taxpayer AND the status shown is “paid”- in that case, the tax payer should contact his bank or SBI. You should contact SBI at the following address.
Cash Management Product (CMP)
State Bank of India
SBIFAST
31, Mahal Industrial Estate
Off Mahakali Caves Road
Andheri (East)
Mumbai – 400 093.
Phone Number: 18004259760 or email at [email protected]
Q. I have neither received the physical ECS refund advice and status of refund is “unpaid” on website track. Whom do I contact?
A. The tax payer should provide the correct account number and MICR code to concerned Assessing officer, where credit is to be effected. The Assessing Officer will inform SBI to send a fresh refund cheque to the taxpayer.
Q. If the date of encashing the refund cheque expires, whom should I contact?
A. The tax payer should contact their Assessing Officer as well as CMP SBI at the below address:
Cash Management Product (CMP)
State Bank of India
SBIFAST
31, Mahal Industrial Estate
Off Mahakali Caves Road
Andheri (East)
Mumbai – 400 093.
Phone Number: 18004259760 or email at [email protected]
Q. How do I rectify any mistakes in the name, assessment year, PAN, account number printed on the refund cheque delivered to me?
A. In case of any mistakes on the refund cheque delivered to you, the following should be done:
i) Send the original refund cheque to CMP, State Bank of India at SBIFAST 31, Mahal Industrial Estate, Off Mahakali Caves Road, Andheri East, Mumbai – 400 093, Phone Number: 18004259760, along with a letter informing the mistakes on the refund cheque.
ii) Send a copy of the letter along with a copy of the refund cheque to your Assessing Officer.
iii) Retain a copy of the letter and refund cheque with you.
Q. If somebody else’s refund cheque / advice is delivered to me what should I do?
A. You should contact SBI at the following address and return the refund cheque / advice.
Cash Management Product
State Bank of India
SBIFAST
31, Mahal Industrial Estate,
Off Mahakali Caves Road,
Andheri (East)
Mumbai – 400 093
Phone Number: 18004259760 or email at [email protected]
Q. Is there any method available to know whether the refund record has been generated for the taxpayer?
A. The taxpayer can track the status of its refund from the NSDL-TIN website www.tin-nsdl.com by clicking on “Status of Tax Refunds”.
Refund status can be tracked by entering the PAN and Assessment Year for which refund is to be tracked.
Status of the refund can also be tracked by contacting the help desk of SBI at 080-26599760.
Q. Whom do I contact for queries related to payment of refund which has been processed by ITD?
A. For any payment related query the taxpayer should contact SBI at 18004259760 or email at [email protected].
Q. Whom should I contact for refund related queries?
A. For any refund related query the tax payer should contact Aaykar Sampark Kendra at 0124 2438000 or email at [email protected].
Location Details of Ceat Ltd
Location Type Address
Registered Office 463, Dr. Annie Besant Road Mumbai - 400030Maharashtra - IndiaPhone : 24930621, 56616054Fax : 66606039Email : [email protected] : N.A.
Factory/plant 82, MIDC Industrial Estate Nasik - 422007Maharashtra - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Village Road Mumbai - 400078Maharashtra - IndiaPhone : Fax : Email : [email protected] : N.A.
Registered Office 463, Dr. Annie Besant Road Worli Mumbai - 400030Maharashtra - India
Phone : 24930621, 56616054Fax : 66606039Email : [email protected] : N.A.
Factory/plant 82, MIDC Industrial Estate Satpur Nasik - 422007Maharashtra - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Village Road Bhandup Mumbai - 400078Maharashtra - IndiaPhone : Fax : Email : [email protected] : N.A.
Registered Office CEAT Mahal, 463, Dr. Annie Besant Road Worli Mumbai - 400030Maharashtra - IndiaPhone : 24930621, 56616054Fax : 66606039Email : [email protected] : N.A.
Factory/plant 82, MIDC Industrial Estate, Satpur Nasik - 422007Maharashtra - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Village Road, Bhandup Mumbai - 400078Maharashtra - IndiaEmail : [email protected]
Location Details - Apollo Tyres
Location Type Address
Secretarial Office Apollo Tyres Ltd Aplio House, 7, Industrial Area, Sector - 32 Gurgaon - Haryana - IndiaPhone : 2383002 - 10Fax : 2383351Email : N.A.Internet : N.A.
Registered Office 6th Floor, Cherupushpam Building, Kochi - 682031
Kerala - IndiaPhone : 2381902 2381903Fax : 2370351Email : [email protected] : N.A.
Factory/plant Perambra, Thrisoor - 680689Kerala - IndiaPhone : 842211, 842216Fax : 842222Email : N.A.Internet : N.A.
Factory/plant Limda, Vadodra District - 391760Gujarat - IndiaPhone : 2580,2582Fax : 2588Email : N.A.Internet : N.A.
Factory/plant Ranjangaon, Nagar Road, Shirur Taluk Pune District - 419209Maharashtra - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Corporate Office Apollo House 7, Institutional Area Sector - 32 Gurgaon - 122001Haryana - IndiaPhone : 2383002 - 10Fax : 2383351Email : [email protected] : N.A.
Registered Office 6th Floor, Cherupushpam Building, Shanmugham Road Kochi - 682031Kerala - IndiaPhone : 2381902 2381903Fax : 2370351Email : [email protected] : N.A.
Factory/plant Perambra, P.O. Chalakudy Thrisoor - 680689Kerala - IndiaPhone : 842211, 842216Fax : 842222Email : N.A.Internet : N.A.
Factory/plant Limda, Taluka Waghodia Vadodra District - 391760Gujarat - IndiaPhone : 2580,2582Fax : 2588Email : N.A.Internet : N.A.
Registered Office 6th Floor, Cherupushpam Building, Shanmugham Road Kochi - 682031Kerala - IndiaPhone : 2381902 2381903Fax : 2370351Email : [email protected] : N.A.
Corporate Office Apollo House, 7, Institutional Area, Sector - 32 Gurgaon - 122001Haryana - IndiaPhone : 2383002/2383003/2383004/2383005/2383006/2383007/23Fax : 2383351Email : [email protected] : N.A.
Factory/plant SIPCOT Industrial Growth Centre, Oragadam (Tamil Nadu) Not Specified - Not Specified - Not SpecifiedPhone : Fax : Email : N.A.Internet : N.A.
Location Details - JK Tyre and Industries
Location Type Address
Factory/plant Mysore Plant I & II Mysore - Karnataka - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Registered Office 7, Council House Street Kolkata - 700001West Bengal - IndiaPhone : 22486181Fax : 2481641Email : [email protected] : N.A.
Factory/plant JK Tyre Jaykaygram Kankroli, Rajasthan Banmore - 0Madhya Pradesh - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Administrative Office 3, Bahadurshah Zafar Marg New Delhi - 110002Delhi - IndiaPhone : 23310154, 23311112-5Fax : 23322059, 23716205Email : [email protected] : N.A.
Factory/plant Pharmaceutical UPSIDC Industrial Area Gajraula - 0Uttar Pradesh - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Mirganj Bareilly - 0Uttar Pradesh - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Vikrant Mysore - Karnataka - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Jaykaygram Kankroli - 0Rajasthan - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Banmore Banmore - Madhya Pradesh - IndiaPhone : Fax : Email : N.A.Internet : N.A.
Factory/plant Mysore Plant I, II & III Mysore - Karnataka - IndiaPhone : Fax : Email : N.A.Internet : N.A.
WEST BENGAL, 700019 KOLKATA, SHIVAM CHAMBERS, 5TH FLOORIndia Manufacturing and Export of Tyres, Tubes and Flaps
FLACON TYRES LTD KARNATAKA, 570016 MYSORE, K R S ROADIndia Manufacturer of Tyres & Tubes
METRO TYRES LTD. DELHI, 110048 NEW DELHI, 134/4India Manufacturer and Exporter of Tyres & Tubes, Sewing Machines (ORTEM), Fans
RUBBER KING TYRES INDIA PVT. LTD.
GUJARAT, 380054 AHMEDABAD, 104, NAINDHARA APARTMENTS, BEHIND GNFC INFO TOWERIndia Manufacturer & Exporter of ''Rubberking'' Brand Butyl Tubes, Flaps & Curing Air Bag for Tyres
STERLING SOLID TYRES LTD. 600007 CHENNAI, NO-11 LETANGS ROAD VEPERYIndia rubber, rubber products
SUPERKING TYRES MARKETING CO. 700013 KOLKATA, F-2 KAMALALAYA CENTRE 156A LENIN SARANIIndia three wheelers
TM TYRES & TUBES PVT. LTD. ANDHRA PRADESH, 502334 MEDAK, 5-35, SURVEY NO. 305 & 321India Manufacturer & Exporter of Butyl Inner Tubes, Curing Bags, Butyl Rubber Envelopes, Automotive Flaps, Vehicle Tyre
ZAHI TYRES PVT LTD TAMIL NADU, COHIN, 403, PIONEER TOWERIndia Manufacutrer of Rubber Tyre
A K SAMY TYRES TAMILNADU, 626123 SIVAKASI, 10/14 V K KAKAK RDIndia automobile repairing, automobile service
BAGRA TYRES LTD 302019 JAIPUR, 4, DEVI NGR MODE NEW SNE RDIndia automobile, gas conversion
APOLLO TYRES LTD MADURAI, 625009 MADURAI, 118 KAMARAJAR SALAIIndia television service, television maintenance
PARAMUN TYRES ERNAKULAM, 683572 ERNAKULAM, ST. GEORGE SHOPPING CENTRE ALUVA RD ANGAMALYIndia rubber, type
A K S TYRES SALEM, 636002 SALEM, 7 P A SHOPPING CMPLX SHEVAPETIndia retail, tyre dealers
A V TYRES VELLORE, 632401 VELLORE, 123 M B T RDIndia retail, tyre dealers
A-1 TYRES DHARWARD, 580028 KARNATAKA, NOORANI MKT P B RD HUBLIIndia retail, tyre dealers
ABDUL RASHID TYRES RAJASTHAN, 302003 JAIPUR, 21, TRANSPORT NGRIndia retail, tyre dealers
ADIGAA'S TYRES CENTRE BANGALORE, 560041 BANGALORE, 76/5 30TH CROSS, SWAGATH MAIN, ROAD, TILAK NAGARIndia retail, tyre dealers
AJAY TYRES COIMBATORE, 641043 COIMBATORE, GS146/A1 METTUPALAYAM RDIndia retail, tyre dealers
AMAR TYRES RAJASTHAN, 302003 JAIPUR, A-28 TRANSPORT NGRIndia retail, tyre dealers
AMARJOTHI TYRES COIMBATORE, 641001 COIMBATORE, 382 DR NANJAPPA RDIndia retail, tyre dealers
AMRUTHESHWARA TYRES KARNATAKA, 575001 MANGALORE, BALMATTA MLRIndia wheel alignment, tyre balancing service, retail, tyre dealers
ANAND TYRES DHARWARD, 580028 KARNATAKA, LAXMI PLAZA NOORANI MN PB RD HUBLIIndia retail, tyre dealers
ANZ TYRES INTERNATIONAL BANGALORE, 560005 BANGALORE, D/480 4TH PH PEENYA INDL ESTIndia wholesale, tyre dealers
ASHOKA TYRES RAJASTHAN, 302003 JAIPUR, A 9/41 AUTOMOBILE NGRIndia wholesale, tyre dealers
AUTO TYRES & TRADERS TIRUNELVELI, 627001 TIRUNELVELI, 182/1 S N HIGH RDIndia wholesale, retail, tyre dealers
BHAVANI TYRES DHARWARD, 580029 HUBLI, SHOP NO 1 BHAVANI ARCADE 127/A NEW COTTON MARKET HUBLIIndia tyre, wholesale, manufacturers, retail, tyre dealers
APOLLO TYRES LTD BANGALORE, 560004 BANGALORE, 8/90 PAMPAMAHAKAVI RD, CHAMARAJPETIndia tyre distrs, tyre manufacturers
APOLLO TYRES LTD CHITTOOR, 517001 CHITTOOR, 24-94 SAI NGR CLNYIndia tyre distrs, tyre manufacturers
APOLLO TYRES LTD. 141009 LUDHIANA, S.C.O.91 TRANSPORT NGRIndia tyre distrs, tyre manufacturers
APPOLLO TYRES ERNAKULAM, 683104 COCHIN, KALAMASSERY P O ALUVAIndia group manager commercial, tyre distrs, tyre manufacturers
APPOLO TYRES LTD VELLORE, 632012 TAMIL NADU, 20-B1 ARCOT RD KAGITHAPATTARAIIndia tyre, manufacturers
BIRLA TYRES VELLORE, 632004 VELLORE, 1 SRI THIRUMALAI COMPLEX NEW BYPASS ROADIndia tyre, manufacturers
FALCON TYRES LIMITED BANGALORE, 560025 BANGALORE, 50 CHA CHE TOWERS, RESIDENCY RDIndia tyre, manufacturers
FALCON TYRES LTD ERNAKULAM, 682026 KOCHI, 48/1704 DESHABHIMANI RD ELAMAKKARAIndia tyre, manufacturers
GOOD LIFT TYRES TIRUVALLUR, 600098 CHENNAI, OLD 93, SIDCO I ESTIndia tyre, manufacturers
BHAVANI TYRES KARNATAKA, 574243 DAK. KANNADA, BUS STAND VITTLAIndia supplies, equipment, tyre recapping retreading, repairing, retail, tyre dealers
JAY KAY TYRES & EQUIPMENTS COIMBATORE, 641012 COIMBATORE, 316 BHARATHIAR RD GANDHIPURAMIndia supplies, equipment, tyre recapping retreading, repairing
JOHNSON TYRES COIMBATORE, 641018 COIMBATORE, 352 DR NANJAPPA RDIndia supplies, equipment, tyre recapping retreading, repairing
M J TYRES TIRUVALLUR, 600019 CHENNAI, 405/6-D, T H ROADIndia solid, tyres, retail, tyre dealers
JOGANI & PAMNANI ASSOCIATES TYRES
http://www.cylex.in/search/tyres.html
Application Form No. 329166
Name YADAV ARCHANA ONKAR
Allotted College
Valia R.C. Junior College of Commerce
College Code [20521226]
Preference No.[1]
College Address C.E.S. Road, D.N. Nagar, Andheri (W) Mumbai: 400
053
Stream Commerce-General
Packaging Industry in IndiaThe current wave of economic development in India is being seen from all over the world. As infrastructure, manufacturing, agriculture, and services grow at high rates the packaging industry is also showing great variety and depth in its growth. India’s packaging industry may achieve an annual turnover as high as US$ 5 billion in the current financial year with a growth rate nearly 25 per cent in significant segments. Leading companies in the Indian packaging industry show a compound annual growth rate of 30 per cent, and the Indian Rupee is strengthening against the US dollar at annual rate of 4 to 5 per cent. Even then, the US$ 5 billion figure would represent about one per cent of the current global packaging industry.In 2001, the packaging industry worldwide generated an annual estimated turnover of US$ 417 billion. The major regions that made up this total include Europe, US$ 129 billion; North America, $116 billion; and Japan, US$ 81 billion. India’s consumer packaging accounted for just US$ 2.3 billion in that year, that is about half of one per cent of the global packaging volume.
Packaging in India in 2001Today, packaging is produced more quickly and efficiently. It is generally lighter in weight, uses less material, is easier to open, dispense from, reseal, store, and dispose. Packaging has evolved from a relatively small range of heavy, rigid containers made of wood, glass, and steel, to a broad array of rigid, semi rigid and flexible packaging options increasingly made from specialized lightweight materials.
Flexible PackagingFlexible packaging consists of multi-layer laminated sheets of plastics (PVC, LDPE, HDPE, BOPP, BOPET), paper, cloth, or metal foils that are used separately or in combination for various packaging applications. However, this article discusses flexible packaging as laminates of plastics that have a unique set of properties that ensure toughness, moisture resistance, aroma retention, gloss, grease resistance, heat sealability, printability, low odour and taste. These find use in packaging food, tea, coffee, spices, chewing tobacco, bakery, confectionary, oils, and in certain other non-food applications such as household detergents, health and personal care, soaps, and shampoos.
Causes of Flexible Packaging Protection:Flexible Packaging gives total consumer protection by keeping the product clean and
protecting it from pilferage and adulteration Barrier:It provides good barrier properties against moisture and gases and protects food from
damage and wastage Convenience:It provides convenience of handling and disposal after use Cost Saving in Material:Flexible Packaging is light — a one kilogram oil pack weighs less than
10 grams compared to at least a 40 gram HDPE jar or 32-35 gram of PET, thereby giving tremendous saving in raw material cost.
Cost Saving in Storage and Transport:It fits closely to the shape of the contents and saves cost of storage and transport.
Savings in Raw Material Consumption:Tremendous saving in raw material consumption, serving the national cause by extension of usage at least times four times.
More Per Pack:It provides much more product per a given amount of package. Good examples include coffee, nuts and snacks that come in foil brick packs and pouches rather than in cans or jars; juice sold in pouches rather than in rigid containers, and household cleaner refills that come in thin pouches rather than in glass bottles.
Smaller Units Possible:Thus the option to buy only the required quantity at a time.
Conservation of Energy:Considerable conservation of energy for conversion. For a steel coffee can to be efficient as a foil brick pack, the can would have to be recycled at a rate of 85 per cent. However, steel cans are currently being recycled at a rate of about 45 per cent.
Important in Lifestyles:Convenience foods, individually packed small servings, microwaveable meals, “easy opening” packaging, secure packaging for pharmaceuticals and hazardous substances, are all examples of packaging playing a role in assisting and promoting our lifestyles.
Builds Brands:Helps product manufactures enhance brand images, increase sales and realize new market opportunities
Flexible Packaging Demand in India and WorldwideWorld demand for converted flexible packaging will grow at more than 4 per cent per year through 2005 to nearly 14 million metric tons, with a value exceeding US$ 50 billion. The best gains are expected in the world’s emerging markets, including Eastern Asia, Eastern Europe, Africa, and Middle East. India holds largely untapped markets with a potential of double digit market growth. The flexible packaging industry in India is currently estimated to be US$ 1 billion and records a high growth rate of approximately 20 per cent.
The expansion of the Indian flex-pack market has accelerated due to : A growing middle class of over 300 million. The conversion of the more traditional rigid packaging into flexible forms. A favourable government tax structure. Excise duty that was once 24% has been reduced to
16%. Liberalization of the Indian economy since 1991. Globalization and the influx of multinational companies. Modern plants and equipment available to the flexible packaging industry.
Considering these factors it is only obvious that flexible packaging has a very bright future in India and is here to stay and grow in a big way.The major Indian players in flexible packaging
The Indian packaging industry is a combination of organized large Indian and International companies and the unorganised small and medium local companies. The organized sector of the industry may be less than 5 per cent of the companies in the overall industry but it nevertheless controls over 70 per cent of the market by volume. The organized sector operates in the laminated product segment such as form-fill-seal pouches, Tetrapacks, and lamitubes.
Converted Flexible Packaging Demand
Item 1990 1995 2000 2005 2010
Converted FlexiblePackaging Demand
63 153 295 595 1125
By Material Polyethylene
19 54 100 190 340
Polypropylene 5 20 60 160 360
Other Plastics 19 35 60 105 175
By Market Nonfood
16 39 74 146 270
Paper and Foil 20 44 75 140 250
Food 47 114 221 449 855
There are around 13,000 converters in India — a majority in the small and medium sector located in all parts of the country. It is estimated that there are more than 200 flex-pack (flexible packaging) converters in India – 50 units in the organized sector constituting 40 per cent of the Indian flexible packaging industry and about 150 in the unorganized sector that make up the remaining 60%. Most small operations have processing capacities of less than 250 tons a month and produce overwraps, coextrusion films, and polysacs.At least ten flex-pack converters process more than 4,000 T/annum and
are on par with leading international operations. These larger Indian flexible packaging companies include
Flex Industries Limited Paper Products Limited (Huhtamaki Group) Positive Packaging Multiflex Paharpur Industries Limited
Demand in IndiaThe current demand for flexible packaging in India, stands at about 500,000 tons.
Consumption of Flexible Packaging — India in Comparison to the Rest of the WorldAccording to industry experts, annual flexible packaging consumption per capita in various parts of the world is roughly as follows:
N. America : US$45 Japan : US$31 W.Europe : US$25 S.Korea : US$15 Thailand : US$3 China : US$2 India : US$1
It is also observed that a mere 20 per cent of the population in India consumes 80 per cent of the packaged production whereas the remaining 80 per cent of the population have an access to only 20 per cent of the packaged production. There exists an exceptional gap in India between the necessary and actual demand for packaging of essential commodities and this is one of the major reasons why the growth of flexible packaging is not an alternative here but is rather an imperative.
Major SegmentsThe consumer market dominates the global packaging industry and accounts for an estimated 70 per cent of sales, with industrial applications taking the remaining 30 per cent of the share. The food industry is the single largest end-user market, valued at around US$ 145 billion, followed by the beverage industry at approximately US $75 billion.
A high degree of potential exists for almost all user segments in India which are expanding appreciably: Processed Foods Mouth Fresheners (pan masala) Beverages Confectionary Bakery Products Spices Edible Oils Soaps and Detergents Drugs and Pharmaceuticals Cosmetics and Personal Care Chemicals and Fertilizers Office Stationary Engineering Products Tattoos
According to Freedonia, food and agricultural markets dominate the sales of converted flexible packaging in India and will continue to expand on account of several factors — rising consumption of packaged foodstuff; the increasing presence of multinational food and beverage firms in India; the trend towards additional processing of food grains and fresh produce; ongoing efforts to improve sanitation and food safety.
Key markets include rice, other grains, food crops, various processed foods, and chewing tobacco. Personal care products such as cosmetics and toiletries are also important with fast growing Indian markets. Growth is seen in the pharmaceutical sector also due to expanding penetration of a large drug-producing industry.
The Indian processed food industry stands at about US$ 30 billion and accounts for about 13 per cent of the country’s exports and involves 6 per cent of the total industrial investment in the country. Of this packaged food stands close to only about US$ 0.85 billion. Thus there is a tremendous potential for growth of flexible packaging in the food and processed food sectors.
In 1999-2000, the total production of rice in India was 90 million tons. If even 5 per cent of the rice produced were to be packaged it would alone generate a demand for 75000 tons of flexible packaging material.
The total wheat production in India was 75 million tons. Even if 7 per cent of it were to be packaged it would create a demand for 90000 tons of flexible packaging material. The total sugar produced in India was 24.84 million tons. If 5 per cent of this was to be packaged it would alone generate a demand for 50000 tons of laminates. The total salt produced in India was 5 million tons. Packing 25 per cent of this quantity would generate a demand of 150,000 tons of flexible packaging. This clearly shows the tremendous potential for the growth of flexible packaging in India.Flexible packaging materials in India
Going by the available data, an estimated 250,000 tons of flexible packaging materials for retail sales in the form of laminates and co-extruded films were consumed in India last year to pack a very large spectrum of products covering processed and convenience foods, fruit juice, beverages, dry and malted products, spices, tea, coffee, edible oils, toiletries, cosmetics, motor oils, and other products. Almost all the raw materials required in flexible packaging such as BOPP, PET, PE granules, aluminium foil, adhesives, and printing inks are made in India. These inputs are of international quality and are exported worldwide.
Packaging Equipment Manufactured in IndiaIndia makes most of the equipment needed by the converting industry, including rotogravure printing presses, laminators, slitters, and pouching machines. A full range of semi-automatic to fully automated filling, sealing and wrapping machines is manufactured in India. These machines are of high quality and are very competitive in price and are exported in a big way to developed countries as well. There are some 600 to 700 packaging machine manufacturers, 95% of which are in small and medium sector and located all over the country.
The Indian market for food packaging equipment amounts to about US$ 80 million. Currently, a mere 2 per cent of India’s food production is being processed, and there are plans in place to increase the food processing level to 10 per cent over a period of ten years thereby increasing the demand for packaging equipment manifold. Another sector with a large demand for packaging machinery is the Indian cosmetic packaging segment that is expected to grow at a rate of over 20 per cent in the next few years.
The flexible packaging industry has a very crucial role to play in the lives of the ordinary people of India and thus has a great future here. Every broad industry or agricultural sector that consumes flexible packaging has its own unique and dynamic set of requirements. The huge possibilities latent in each of these sectors have to be defined and cultivated. India is indeed a dynamic, developing and demanding market and most of its potential has not yet been identified, leave apart conquered or covered. As new aspects of this market and its consumers’ behaviours are defined and chalked out everyday, the need for new solutions unique to the Indian market emerge.
Quality processes such as Six Sigma, waste minimization, the optimisation of supply chain efficiency through, for example, eCommerce initiatives, can contribute much to improved performance. So can “added value” products and services and an imaginative approach to meeting customers’ needs. In a world where commoditization is a fact, it’s evident that companies that develop unique products and services that are “genuinely out of the box” solutions to end users’ problems will gain a significant competitive edge. Goethe rightly said, “Knowing is not enough, we must apply. Willing is not enough, we must do.”
The investment in Unit Link Insurance Plans (ULIPs) is now all set to be governed by new set rules from the Insurance Regulatory and Development Authority (IRDA), to be incorporated in all ULIPs offered from next month. Accordingly, the three-year lock-in period for all unit-linked products will be increased to five years. This lock-in will also apply for top-up premiums. During this period, no residuary payments will be made on policies which are lapsed / surrendered / discontinued and the residuary payments arising from policies which stand lapsed / surrendered / discontinued during the lock-in period will be payable on expiry of the lock-in period.
Also, all regular premium / limited premium ULIPs will have a uniform / level paying premiums. any additional payment will be treated as single premium for the purpose of insurance cover. All limited-premium ULIPs, other than single-premium products, will have a premium-paying term of at least five years. All unit-linked products, other than pension and annuity products, will provide a minimum mortality cover or a health cover. All top-up premiums made during the term of the contract-except for pension / annuity products-must have an insurance cover; and should be treated as a single premium. Insurers shall distribute the overall ULIP charges in an even fashion during the lock-in period.
In regard to unit-linked pension / annuity products, no partial withdrawal will be allowed during the accumulation phase and the insurer will convert the accumulated fund value into an annuity on the vesting date. However, the insured will have an option to commute up to a maximum of one-third of the accumulated value as lump sum at the time of vesting. In case of surrender, only a maximum of one-third of the surrender value can be commuted after the lock-in period. The remaining amount must be used to purchase an annuity, subject to certain provisions.
The maximum loan amount which can be sanctioned under any ULlP policy can not exceed 40% of the net asset value (NA V) in those products where equity accounts for more than 60% of the total share. Moreover, it should not exceed 50% of the NAV of those products where debt instruments account for more than 60% of the total share.
It has been made obligatory on all insurers to conform to these features so that they can introduce the products with due approval from IRDA from September 1, 2010.
Read more: http://www.taxguru.in/irda/ulip-investments-%e2%80%93-new-rules.html#ixzz0wYKdneym
The Supreme Court on Monday admitted the excise department’s plea alleging that Hindustan Coca-Cola Beverages (HCCBL) was liable to pay duty on water treated and purified by the company for supply to vendors for producing aerated beverages.
A bench headed by Justice MK Sharma admitted the petition filed by the excise department seeking to levy duty on treated and purified municipal or bore well water for supply to retail vendors for producing aerated drinks.
HCCL counsel Tarun Gulati argued that there is no manufacture as water remains water even after purification. He said the company was not making water marketable and mere purification does not amount to manufacture.
Challenging the Customs Excise and Service Tax Appellate Tribunal judgment that dismissed its plea, the department said that according to Chapter notes to Chapter 22 of the Central Excise Tariff Act, any exhaustive process like adding bleach solution to kill micro organisms, treatments with lime, soda ash, bleaching powder etc and filtration through sand and carbon purifier, etc, carried out on municipal or borewell water amounts to manufacture.
The department said duty is leviable on goods which are subjected to process like packing or repacking of goods in a unit container or labeling or re-labeling of containers including the declaration or alteration of retail price on it or adoption of any other treatment on the goods to render the product marketable to the consumer
Mining Companies:
Bharat Aluminium Company Limited (BALCO)Bharat Petroleum Corporation limitedBombay MineralEssel Mining & Industries LtdGas Authority of India LimitedHindustan Petroleum Corporation limitedIndian oil Corp.Indian Petrochemicals CorporationKariganur Mineral Mining IndustryKerala Minerals & MetalsNeyveli Lignite CorporationOil and Natural Gas CorporationReliance Industries Limited
Depository Limited (NSDL) provides CIN (Challan Identification Number) based view of direct tax challans to taxpayers to know the status of challan on its web-site. In addition to the above facility, NSDL has launched a Short Message Service (SMS) based facility to know the status of its challans. The procedure for availing this facility is as under:
1. The tax payer can send an SMS to 575758 with a message containing the word CSI followed by a space and CIN provided by the respective Bank at the time of making the Direct tax payment.
2. The CIN should be separated by comma (,). 3. Challan Identification Number (CIN) consists of details such as BSR Code of Collecting Branch
(seven digit) , Challan Tender Date (DDMMYYYY) and Challan Serial No (length less than or equal to 5 digit) and Amount.
4. The amount is an optional field. If the amount is entered by the tax payer he would get the confirmation whether amount entered is matched or otherwise as per NSDL database.
For e.g., if the tax payer input “CSI 0510001,11032009,5,5000″ where in “0510001″ is the BSR code of the collecting branch,
“11032009″ is the Challan tender date, “5″ is the Challan serial number and “5000 is the amount paid by the taxpayer.
The tax payer will get the information against which TANlPAN the payment has been accounted with the confirmation whether amount entered is matched or not. (This is an illustrative challan identification number, actual CIN should be provided in the SMS).
There will be special charges for these SMS. These charges may vary from one mobile service-provider to another. The charge structure can be obtained from the concerned service-provider. The status of the CIN based view will continue to be available from NSDL-TIN web-site www.tin-nsdl.com or NSDL Call Centre at 020-27218080 or Aykar Sampark Kendra at 0124- 2438000.
and cashless facilities
Circular No. IRDA/HLT/MISC/CIR/139/08/2010, dated 23-8-2010
Medical insurance policies offered by different insurers to policyholders are contracts of reimbursement. However, several policies under these contracts offer a cashless facility as a facility of convenience in their Preferred Provider Network (PPN) of hospitals. This PPN is dynamic and subject to change from time to time. With effect from July 1, 2010, the four public sector general insurers have withdrawn the cashless facility to certain hospitals that were previously in the PPN at Mumbai, Delhi, Chennai and Bengaluru.
2. In order to ensure that the interests of the policyholders are not adversely affected, at times when a change in PPN is effected, the insurers are directed to inform the policyholders at all times, the nearest possible alternative hospitals where the cashless facility is available and the conditions thereof.
3. Where a policyholder has been issued a pre-authorisation for the conduct of a given procedure in a given hospital or if the policyholder is already undergoing such treatment at a hospital, and such hospital is proposed to be removed from the list of PPN, then the insurers are directed to continue to provide the benefits of cashless facility for such policyholder as if such hospital continues to be in the PPN list.
4. This circular is issued in exercise of powers conferred upon the Authority under Section 14(1) of the IRDA Act, 1999 to protect the interests of the policyholders and to regulate, promote and ensure the orderly growth of the insurance industry.
Read more: http://www.taxguru.in/irda/irda-circular-on-medical-insurance-policies-and-cashless-facilities.html#ixzz0xh1L05lB
New Circular For electronic settelement
IRDA/NL/ORD/RIN/136/08/2010, dated 24-8-2010
During the inspection of several broker and insurers, it was found that audit trial of many transactions with regard to reinsurance placements and coinsurance was very difficult to track. The trial started going cold after the money reaches the broker and cash flows to and from the reinsurer were not available for monitoring, either with the broker or the insurer. In this context, it is becoming difficult to verify the genuineness of the placements.
After detailed discussions with the experts in the reinsurance sector, it was felt that an electronic platform whereby the treaty, facultative as well as coinsurance placements are tracked by the Regulator as well as companies themselves, needs to be put in place.
In order to study the models existing in other markets and choose the right software & hardware and also to build consensus among the insurers and brokers with regard to the new system a Steering Committee with the following constitution is set up with immediate effect:
1. Chairman, IRDA - Chairman
2. Shri C N S Shastri - Co Chairman
3. Member, Non – Life - Member
4. Member, Life - Member
5. Member, Actuary - Member
6. CMD, GIC - Member
7. Executive Director, Admn - Member Convenor
The Terms of reference of the Committee are as follows:
a) to study various models of electronic transactions and settlement system in reinsurance and coinsurance
b) to develop a system suitable to Indian context
c) to select suitable hardware and software
d) to set up suitable organizational structure for implementation of the system
e) to operationalize the system in a period of six to nine months
In order to ensure that a detailed plan is worked out regarding the necessary accounting software & hardware details and the organizational set up for such a system, a Working Committee is hereby constituted with the following members:
1. Nominee of CMD, GIC 2. Nominee of CMD, LIC 3. Secretary General, Life Insurance Council 4. Secretary General, General Insurance Council 5. JD (Non Life) 6. JD (Health) 7. JD (Information Technology) 8. DD (Finance and Accounts) 9. ED (Admn) as Member Convenor
The Working Committee may co opt any of the experts in the field including the employees of any of the Indian Insurance companies as invitees to the Committee whenever expertise regarding the sector concerned is required.
The Working Committee shall finalize the recommendations within three months and submit report to the Steering Committee. The finalization of the system shall be accomplished within six to nine months.
This issues with the approval of Chairman.
Read more: http://www.taxguru.in/irda/irda-circular-on-electronic-transaction-administration-and-settlement-system-etass.html#ixzz0yFjLYvRc
Circular No. IRDA/CAD/CIR/AGN/137/08/2010, dated 25-8-2010
The Authority is in receipt of complaints from policyholders relating to agency identification and servicing, especially when they have approached insurers directly and are serviced through an agency allotted by the insurer. In particular, there are complaints that there are instances of agency codes that are dummy, with the agent being non-existent. The new agency portal introduced by IRDA has several checks to weed out such alleged dummy agencies. However, as a further measure, there is a need for insurers to make a prominent disclosure to all policyholders about the agent/broker servicing the policy.
Therefore, the Authority, keeping the interests of policyholders in view, now directs all insurers, in terms of Section 14 of the IRDA Act, to display the Agency Code, Agency Name and Mobile number (landline if mobile number not available) and other contact details prominently on the first page of the policy document in bold letters with a font size equal to at least 14 of Times New Roman font. This shall be implemented by insurers on or before 1st November, 2010.
Please confirm receipt of this circular and action taken.
Read more: http://www.taxguru.in/irda/disclosure-of-agency-details-on-policy-document.html#ixzz0yFkP9icK
All Unit Linked Products to Offer Minimum Return to Policyholders from 6th Year Onward
Unit Linked Pension Products to Ensure Minimum Guaranteed Return on Maturity Locking Period Increased From Three to Five Years
The Insurance Regulatory & Development Authority (IRDA) has informed that recently they have issued the following circulars for the benefit of the customers:
(1) IRDA Circular No. 102 dated 28th June, 2010 – This prescribes the minimum quantum of death and health coverage that a unit linked life insurance product must offer. All pension/deferred annuity products must offer a minimum guaranteed return as specified by the IRDA. The minimum guaranteed rate is 4.5% pa for the current financial year and based on reverse repo-rate from 2011-2012 onward. The circular also prescribes the maximum reduction in yield to the policyholders from year 6th policy year and onward.
(2) IRDA (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010 – The regulations aim to benefit the policyholder who discontinues to pay future premium on account of certain difficulties, by assuring him a fixed rate of interest on his policy monies available at the date of discontinuance and the payment can only be made by insurer after 5th policy anniversary of the said insurance policy.
(3) IRDA Circular No. 124 dated 4th August, 2010 – The circular clarifies the limit on premium allocation and policy administration charges and also on guaranteed rates of interest on unit linked pension/deferred annuity products.
The aforesaid circular and regulations shall be implemented with effect from 1st September, 2010.
The likely benefits to the customers are as follows:
(i) The customers will get higher death and /or health coverage in all unit linked products except pension products where the benefits flow in the form of guaranteed benefits. Moreover, in pension/deferred annuity products the policyholders can opt for riders which provide higher amount of mortality and/or health coverage.
(ii) All unit linked pension products shall have a minimum guaranteed return to ensure a minimum amount of cash at the time of maturity which shall be utilized to purchase annuity subject to a lump sum payment of one third of the accumulated amount.
(iii) The lock-in period has been increased from earlier 3 years to 5 years which enhanced the long term feature of the unit linked products. During lock-in period, policyholders can not take the payment of surrender value and also can not make any partial withdrawal. However, the policyholders can avail loan facility during the lock-in period.
(iv) All unit linked products shall offer minimum return to the policyholders from 6th policy year and onward. This provides guaranteed return on the money invested in insurance policies by policyholders.
(v) The maximum charges that an insurer can levy on the fund on discontinuance of the insurance contract are specified in the regulations. This intends to bring uniformity.
This information was given by the Minister of State for Finance, S.S. Palanimanickam in a written reply to an Unstarred Question raised in Lok Sabha today.
Circular No. IRDA/ACT/CIR/MISC/154/09/2010, dated 9-9-2010
1. Objective and target group:
The proposed standard product is aimed to provide a comprehensive package of insurance covers relevant to persons belonging to economically weaker sections in rural and urban areas. The standard product is also aimed to be the primary instrument for fulfilment of the rural and social obligations of insurers under the Insurance Act. The product will have defined options and levels to provide choice and flexibility to customers in order to cater to individual circumstances with a layered basis, although on a pre-defined basis described herein.
2. Micro- Insurance and Rural & Social Sector Obligations:
The proposed standard product may be mandated for the insurers to offer in the market to meet the rural and social sector obligations. The insurers should not be allowed to market any other product which offers either lower benefits for the premiums charged than in the standard product or higher premium which offers lower benefits than the standard product for the premium charged. This is proposed to eliminate the products which provide no real and long term benefits to the policyholders and to ensure the poorer sections have access to products which provide enough risk cover.
The premium rates are indicative for the covers proposed and the insurer may be given liberty to offer the product with its own premium rates which may be allowed to differ from the proposed indicative rates by 10%.
3. Linking with the Government Sponsored Insurance Schemes:
This product would facilitate supplementing or topping up of any existing social security benefit and would not overlap such benefits. The main criterion to be applied in this context is that the insured person would not benefit from two sources from the same event, one from a government on a free or subsidised basis and another through the insurance cover embedded in the standard product, except to the extent of any explicit topping up provisions. In this context, we may propose the standard product to have different layers. The first layer may be treated as the products that are offered through the Government. The second layer may be offered to those who are willing to have insurance cover over and above the first layer. In the second layer, we may propose to have a deductible equivalent to the sum insured of the first layer. The second layer should be the proposed standard product which is to be mandated. If the policyholder is willing to have insurance over and above the second layer, the policyholder may be allowed to take the insurance under commercial terms with a deductible equivalent to sum insured in the first two layers.
4. Distribution / Acquisition Costs:
The distribution channels and the distribution & acquisition costs for the proposed product may be in similar lines with the IRDA (Micro-Insurance) Regulations, 2005.
5. Linking with Kisan Credit Card, Farmer Clubs and Self Help Groups (SHGs):
The proposal to link with the KCC, farmer clubs, SHGs would enable the insurers to reach out to the policyholders easily for premium payment and other servicing. This would also enable the insurers to improve the persistency as these groups are easily reachable and have collective efforts in meeting their needs. With regard to KCC holders, the holders have the access to money in the form of minimum credit limit of Rs.25000/- and maximum credit limit of Rs.10lakhs in the form of working capital (allows any number of withdrawals and repayments in the allowed to provide flexibility) and term loan (to(for ST crop loan, consumption loan and repayment of non-institutional loans and to purchase agricultural implements, plants and machinery and land developing including construction of different types of storage facility). The credit card is valid for 5-7 years subject to annual review.
The proposal to link with these groups would help insurers not only to meet their obligations, but also helps the insurers to issue products with longer durations and with savings oriented.
6. Distribution Mechanism:
The following mechanism may be followed to ensure that the rural and social sector obligations which are met by the insurers not only comply with the obligations but also ensure that the mechanism encourages the spread of insurance across pan India. To achieve this, the following mechanism may be followed:
a. For each State two general insurer and two life insurer may be allotted;
b. The reason for allotting one general insurer and one life insurer to each State is to ensure:
i. The rural /social/micro-insurance groups across the State are covered completely by these insurers;
ii. As the combi product has components of both life and non-life, it may be essential to have the presence of both the insurers to ensure proper underwriting/rating of proposals and settlement
c. Allotment of insurers to each State may need to mandate certain levels of infrastructure/ distribution network/TPA/network hospitals and to consider:
i. the existing infrastructure established by the insurers in terms of branches across the rural areas/ semi-urban areas/urban areas;
ii. the existing arrangements of the insurers with different distributional channels/ NGOS/SHGs for the propose distribution of the insurance cover across the State;
iii. the existing arrangements of the insurers with the TPAS and network hospitals (in similar lines with the RSBY) to ensure that cashless facility is made available in rural/semi-urban/urban areas;
iv. the commitments of the insurers to establish such requirements as mandated within a given time frame;
v. The existing business portfolio in terms of rural/social/micro-insurance business;
vi. The existing business portfolio in terms of serving government sponsored insurance schemes;
d. Need to examine whether this is considered against competition principles.
7. Tie up between life and non-life insurers:
As in the case of Micro Insurance, a life insurer may issue policies under this standard product and have a tie up with a non-life insurer for the benefit structure relating to “General” described below or a non-life insurer may issue policies under this standard product and have a tie up with a life insurer for the benefit structure relating to “Life” described below.
The details of the tie up arrangements between a life insurer and a non-life insurer shall conform to provisions contained in regulation 3 of the IRDA Micro Insurance 2005 Regulations.
8. Benefit structure:
A. Benefit structure:
The benefit structure will include both life insurance and general insurance covers, as listed below.
Life:
(i) Term life cover on death during defined term,
(ii) Pension benefits and costs in line with NPS (PFRDA) and
(iii) On mandatory basis convert accumulated savings in NPS into a pension at the end of the term or on earlier surrender of the policy.
General:
(i) (a) Personal Accident- Accidental Death benefit (PAAD)
(i) (b) Persona Accident- Total and permanent disability (PATPD)
(i) (c) Personal Accident- Partial and permanent disability (PAPPD)
(i) (d)Personal Accident- Medical expenses (PAME)
(ii) (a)Health- Pre-hospitalisation (HPH)
(b)Health- Hospitalisation (HH)
(c) Health- Post-hospitalisation (HPPH)
(iii) Critical illness (CI) covering cancer, stroke, kidney failure, first heart attack and major organ transplant
(iv) (a) Fire- Dwelling (FD)
(b) Fire- Assets, such as pump set, agricultural tools, farm machinery (FA)
(c) Fire- Stock (including livestock) (FS)
(iv) (a) Motor- liability (for 2 wheeler, car and tractor)- (ML)
(b) Motor- own damage (for 2 wheeler, car and tractor)-(MOD)
(v) Weather: Protection against adverse weather incidence, such as deficit and excess rainfall, frost, heat (temperature), relative humidity etc based on official records of a recognised government agency (W)
B. Benefit options:
There will be 4 layers of options in ascending order of coverage (and cost) as listed below:
(i) Base option: This will include Term life, PAAD, PATPD, HH and FD
(ii) Intermediate option: This will include base option benefits plus survival/ pension, PAME, HPPH, FA and ML (2 wheeler)
(iii) Superior option: This will include Intermediate option plus PAPPD, HPH, ML (tractor), MOD (tractor), W
(iv) Supreme option: This will include Superior plus all other benefits listed in A above.
C. Benefit levels:
(i) Sum insured will be available at 6 levels, namely 100000, 200000, 300000, 500000 and 1000000
(ii) Sum insured to be offered will be in line with limits in the KCC or other verifiable monetary values serving as proxies to income of insured.
(iii) Sum insured will be linked between LOBs by the relationship of 100% for death cover in Term life, 200% to 300% for PA, 25% to 50% for H and CI, 50% to 150% for F and 25% to 75% for M.
(iv) Each section such as PA, H or other benefits will be subject to the combined limit of sum insured defined for the section as determined in (iii) above.
(v) Maximum sum insured for different general classes, after application of criteria (i) to (iii) above, are as stated below:
PA 500000
Health, CI 500000
FD 500000
FA 200000
FS 100000
MOD 300000
W 200000
D. Extension of cover to family members:
Only a supporting spouse contributing to the economic activity of an insured head of family can be covered for death benefit under the Term life sections.
Under the general sections, spouse and up to 2 children can be covered for PA, H and CI sections.
Under all sections, wherever applicable, spouse will be covered for 50% of SI for insured head of family. Each child will be covered for 25% of SI for insured head of family. The linkages and limits stated in C (iii) above across LOBs will apply on each family member separately.
9. Period of cover and premium paying term:
The period of cover will be 10, 15, 20 and 25 years in all cases of individual assurances/ insurance policies other than auto insurance. Although group policies may be issued on a one year renewable basis, attempts to design level premium long term basis are expected. Premium paying term may either be equal to the period of cover or end 5 years prior to period of cover.
10. Underwriting aspects:
1.1 Age proof: Standard age proof is compulsory. Where, a standard age proof is not available, a certified extract from records of KCC, associated bank loan or other similar record may be accepted.
1.2 Age limits for entry and cessation of cover: Minimum age at entry 18 and maximum age at entry 50; more liberal limits as per insurer’s normal practice may be allowed. Maximum age for continuation of cover in all cases is 70.
1.3 Health declaration: Simple health declaration by self/ insured head of family attested by an official nominated by the nodal agency is compulsory. In the case of group policies, insurer may, if he deems fit, enter into arrangements with the group policyholder/ nodal agency for maintenance of records of health declaration at the latter’s office.
1.4 In respect of insurance cover for C (critical illness) additional requirement of a short medical examination by a medical examiner acceptable to insurer and a normal body weight and height are required. Further, a survival period of 30 days after diagnosis may be applicable.
1.5 In respect of F (fire policies), declaration on continuous occupation and maintenance will be required.
1.6 In respect of all insurances, reasonable care clause and exclusion of cover for intentional/ malicious acts of self damage will be applicable.
11. Exclusions, deductibles and waiting periods:
1.1 All life insurance covers will be subject to a 3 months waiting period clause. Suicide within 1 year is a further exclusion.
1.2 All health insurance and critical illness covers will be subject to exclusion of pre existing diseases as per currently notified conditions approved by IRDA and also exclude chronic or other ailments needing treatment for more than 3 months.
1.3 All insurance covers will be subject to exclusion of claim/ damage arising out of intentional self injury, illegal activities or malicious self damage.
1.4 Fire and contents cover will be subject to exclusion of cover for thatched houses and jewellery. Burglary cover is not included.
1.5 In respect of Motor, 10% deductible will apply on cover for tractors and 5% deductible on 2 wheelers and private cars. Commercial use of all motor vehicles will exclude cover.
1.6 All general insurance covers on property of any type (moveable and immovable) will be subject to reasonable care clause.
12. Distribution channels:
1.1 Regional rural banks, scheduled banks, self help groups and micro insurance agents will all be eligible to act as agents subject to IRDA regulations.
1.2 Commission rates will be subject to maxima shown in the table below:
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Line of business First year commission as % of premium
Renewal commission as % of premium
Individual Life 10% 2%Group Life 2% 0.5%Non-life- individual
5% 1%
Non-life- Group 2% 0.5%
1.3 Any over-rides spent over and above commission will be subject to upper limit of 10% on commission paid.
13. Premiums:
1.1 Individual life insurance covers will be based on 150% of published mortality rates. Loading for expenses and contingencies, including profit shall fall within a normal range of 20% to 50% in the first year and 5% to 10% in the second and subsequent years.
1. Sample rates for quinquennial in the age range 25 to 50 for terms 15, 20, 25 are worked out. These will indicate the cost involved and help work on any full range of ages and terms required.
2. Bases used for calculation are:
· Mortality: Non medical MMIC (2006-08) rated up by 25%- likely to be 150% of LIC 94-96 and appropriate for population under consideration
· Interest: 5.5%- reasonable in current conditions
· Expenses:
First year: Commission 10% of premium plus 20% of premium for other variable expenses and Rs 200 per policy as fixed cost
Second and subsequent years: Commission 2% of premium plus 5% of premium for other variable expenses and Rs 50 per policy as fixed cost
· Profit and other: Ignored- assumed to be through slender margins in above 3 elements
4. Premium rates for individual assurances:
Age
Premium per 1000 Sum Assured for term
15years 20years 25years20 3.14 3.22 3.3725 3.46 3.65 3.9230 5.15 5.55 5.6535 5.55 5.65 6.2740 6.65 7.42 8.3045 8.86 9.96 11.2050 12.42 13.57 15.29
5. Premium rates for group life assurances: To be worked out from tables in 4 above by allowing reductions as indicated in 1.3.
1.2. Premiums for general insurance covers arranged on individual basis will fall in the ranges suggested below:
PAAD 0.20% to 0.35% of sum insured varying by age bands and number of persons covered in the family
PATPD 0.11% to 0.15% of sum insured varying by age bands and number of persons covered in the family
PAPPD 0.25% to 0.50% of sum insured varying by age bands and number of persons covered in the family
PAME 0.25% to 0.50% of sum insured varying by age bands and number of persons covered in the family
HH 2.5% to 4% of sum insured varying by age bands and number of persons covered in the family
HPPH 2.0% to 3.5% of sum insured varying by age bands and number of persons covered in the family
HPH 2.5% to 4% of sum insured varying by age bands and number of persons covered in the family
CI 0.1% to 5% of sum insured varying by age bands and number of persons covered in the family
FD 0.04% to 0.08% of sum insured depending on construction type. Material used for walls such as rubble stone in lime/ mud mortar, stone masonry or bricks with cement concrete and material used for roof such as asbestos sheets, RCC or country made brick tiles and similar factors may be considered for classification of risk.
FA 0.04% to 0.08% of sum insured depending on nature of assets
FS 0.04% to 0.08% of sum insured depending on nature of stock
ML 1.2% to 2.5% of sum insured depending on vehicle type and vehicle age MOD 2.1% to 4.2% of sum insured depending on vehicle type and vehicle age
W To be worked out as per 1000 SI per hectare considering nature of crops covered, deductible and historical record of the meteorological division, from time to time on an annual basis.
1.3 Premiums under group policies will be calculated with reference to premium rates mentioned in 1.1 above and thereafter subjected to a reduction stated below:
Group size Reduction for Life insurance premiums
Reduction for General insurance premiums
Less than 50
2%
1%
51 to 250 4% 2%251 to 2000 7% 5%More than 2000
10% 7%
1.4 All group insurance policies will also have a profit sharing arrangement subject to a maximum profit share as stated below:
Group size Profit share per cent
Profit share per cent
Less than 50 2%
1%
51 to 250 4% 2%251 to 2000 7% 5%More than 2000
10% 7%
1.5 Life insurance covers and general insurance covers may provide option to continue cover even in the event of non-payment of premiums due continuously for a maximum period of 2 years in a 5 year cycle. The option shall be allowed subject to payment of additional premium of 30% of the normal premium.
1.6 All premiums for general insurance covers shall be subject to a reviewability clause to review premium rates once in every three years.
14. Policy conditions:
Policy conditions relating to free look, loan, surrender, lapse and revival, furnishing data under group policies and renewability will be as per individual company’s normal practice for other policy contracts applicable.
15. File and Use procedure:
Simplified file and use procedure will apply to this standard product. Separate instructions on this aspect will be circulated to companies.
16. Credit for business under the rural and social obligations:
Credit for business under current plans is under review. Insurers will be given credit for business under this product on a special basis, where insurance covers will be grouped into categories and business falling under each unit will get credit for one unit, as shown below;
Life- temporary assurance covers 1 unit
Life- savings element, as an addition, subject to minimum
savings element equal to 50% of premium for temporary
assurance cover 1 unit
PA and Health- any part or all parts 1 unit
Other insurance covers 1 unit
In short, cover for an individual under all categories above will result in credit of 4 units.
17. Total premium:
SI
Total premium* Base
Intermediary Superior Supreme
1lakh Min 2224 4664 8514 8564 Max 4613 9415 16615 19115 2lakhs Min 4448 9228 16928 17028 Max 9226 18654 33054 38054 3lakhs Min 6672 13792 25342 25492 Max 13839 27893 49493 56993 5lakhs Min 11120 22920 42170 42420 Max 23065 46371 82371 94871 10lakhs Min 22240 45740 84240 84740 Max 46130 92566 164566 189566 *excludes premium for weather insurance and pension/survival benefitsMinimum premium and maximum premium refers to lower and upper limits for that cover. The actual premium may vary depending on age/period of cover/house type/ vehicle type/contents etc
The life and non-life insurers are requested to offer their considered opinion on or before 10/10/10. The consumer organizations, NGOs, SHGs, MFIs, may also respond before that date. All responses may be addressed to [email protected]
Source : IRDA
Your request for 'New PAN card and/or Change/Correction in PAN Data' cannot be processed as PAN holder details provided by you in the application do not match with PAN holder details in the Income Tax Department (ITD) database. A letter dated 14-Sep-2010 is being / has been dispatched to you communicating the differences in PAN details. For clarifications contact TIN Call Centre at 020 - 27218080.
The Reserve Bank of India has given permission to the Department of Posts to launch its prepaid debit card, in partnership with Master Card, which will allow customers to purchase products from all major retail outlets across the country.
The prepaid debit card by India Post would have a minimum value of Rs 1,000 and a maximum of
Rs 50,000, a senior official from the department told Business Standard. Subsequently, the cards will be topped up with the required value.
The customers would also be able to withdraw money from ATMs using the new card from DoP. It could also be used for making online transactions, for mobile commerce and to facilitate electronic money transfer.
"The department has already received all the requisite approvals from RBI for the launch of the card and we expect to commercially announce it within a few months," the official said.
DoP might also rope in a bank as partner in the venture, the official added, refusing to divulge further details.
The nature of the card would be in line with debit card offered by different banks. The software for the solution would be offered by one or more banks, while the required infrastructure and staff would be provided by the postal department.
According to the request for proposal issued by the department earlier this year, "the card (magnetic stripe-based) could be operated at merchant establishments or ATMs, where Master Card is acceptable, and in various post offices. Up to four add-on cards are proposed to be issued to one customer, along with the primary card."
The debit card would be issued to customers by major post offices, after a payment of activation fees and the amount to be loaded on to the card.
The official said such cards could also be used by organisations for giving allowances and other benefits to their employees
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CIRCULAR NO. 36/2010-CUSTOMS Sub: Conversion of free shipping bills to export promotion scheme shipping bills and conversion of shippingbills from one scheme to another – reg. I am directed to invite attention to the Board’s circular No.4/2004-Cus dated 16.01.2004 which debars conversion of free shipping bills to Advance License/DFRC/DEPB shipping bills and allows conversion of shipping bills from one export promotion scheme to another only where the benefit of an export promotion scheme claimed by the exporter has been denied by the DGFT/MoC&I or Customs due to any dispute. 2. It has been represented to the Board that the norms for allowing conversion of shipping bills may be relaxed and the Commissioners should be allowed to consider requests for conversion of shipping bills from free to export promotion scheme and from one export promotion scheme to another on a case to case basis depending on the merits of the case. It has also come to notice of the Board that the Tribunals in a series of judgments have held that amendment to shipping bill after export of goods is governed by the proviso to section 149 of the Customs Act, 1962 and if the requirements of the said proviso are satisfied, conversion of shipping bill should be allowed. The conversion of the shipping bill from one scheme to another cannot be linked with denial of benefit of one scheme by DGFT/MoC&I or Customs due to some dispute as no such condition for amendment of shipping bill has been provided in section 149 of Customs Act, 1962. 3. The issue has been re-examined in light of the above. It is clarified that Commissioner of Customs may allow conversion of shipping bills from schemes involving more rigorous examination to schemes involving less rigorous examination (for example, from Advance Authorization/DFIA scheme to Drawback/DEPB scheme) or within the schemes involving same level of examination (for example from Drawback scheme to DEPB scheme or vice versa) irrespective of whether the benefit of an export promotion scheme claimed by the exporter was denied to him by DGFT/DOC or Customs due to any dispute or not. The conversion may be permitted in accordance with the provisions of section 149 of the Customs Act, 1962 on a case to case basis on merits provided the Commissioner of Customs is satisfied, on the basis of documentary evidence which was in existence at the time the goods were exported, that the goods were eligible for the export promotion scheme to which conversion has been requested. Conversion of shipping bills shall also be
subject to conditions as may be specified by the DGFT/MOC. The conversion may be allowed subject to the following further conditions: a) The request for conversion is made by the exporter within three months from the date of the Let Export Order (LEO). b) On the basis of available export documents etc., the fact of use of inputs is satisfactorily proved in the resultant export product. c) The examination report and other endorsements made on the shipping bill/export documents prove the fact of export and the export product is clearly covered under relevant SION and or DEPB/Drawback Schedule as the case may be. d) On the basis of S/Bill/export documents, the exporter has fulfilled all conditions of the export promotion scheme to which he is seeking conversion. e) The exporter has not availed benefit of the export promotion scheme under which the goods were exported and no fraud/ misdeclaration /manipulation has been noticed or investigation initiated against him in respect of such exports. 4. Free shipping bills (shipping bills not filed under any export promotion scheme) are subject to ‘nil’ examination norms. Conversion of free shipping bills into EP scheme shipping bills (advance authorization, DFIA, DEPB, reward schemes etc.) should not be allowed. However, the Commissioner may allow All Industry Rate of duty drawback on goods exported under free shipping bill, without conversion of such free shipping bill to Drawback Scheme shipping bill, in terms of the proviso to rule 12(1) (a) of the Customs, Central Excise and Service Tax Drawback Rules, 1995. 5. Due care may be taken while allowing conversion to ensure that the exporter does not take benefit of both the schemes i.e. the scheme to which conversion is sought and the scheme from which conversion is sought. Whenever conversion of a shipping bill is allowed, the same should be informed to DGFT so that they may also ensure that the exporter does not take benefit of both the schemes. 6. This circular supersedes the Board circular No.4/2004-Cus dated 16.01.2004 and the earlier circulars issued in the past on this issue. This circular shall be applicable only to shipping bills filed on or after the date of issuance of this circular. Till such time as EDI system is modified to allow conversion of shipping bill in the EDI system, conversion may be allowed manually. 7. A suitable Public Notice for information of the Trade and Standing Order for guidance of the staff may be issued. Difficulties faced, if any in implementation of the directions may be brought to the notice of the Board. Kindly acknowledge receipt of this Circular.
(Pramod Kumar)
Technical Officer (DBK)
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The three judges - two Hindus and a Muslim - of the Lucknow bench of the Allahabad High Court who Thursday authored the long-awaited verdict on the Babri Masjid-Ramjanmabhoomi dispute:
Justice Dharam Veer Sharma: He is the one who gave a dissenting verdict and refrained from signing the Sep 17 order issued by the special bench turning down the plea for postponement of the final verdict slated for Sep 24. In his view, parties involved in the case should have been given the freedom to try and work out an amicable settlement.
Justice Sharma, 62, retires on Oct 1, 2010 after pronouncing the most important verdict of his life.
He was chief law officer of the Uttar Pradesh Financial Corporation from July 1989 to October 1991. After a long stint with the state administration, he was made district and sessions judge in 2002 and elevated to Allahabad High Court in 2005.
The judge, who can always be spotted in a white dhoti-kurta or white shirt and trousers, is a vegetarian who cooks for himself -- and occasionally for colleagues and friends. He stays with his elder sister.
Justice Sudhir Agarwal: At 52, Justice Sudhir Agarwal is the youngest of the three judges on the bench. His way of life are quite a contrast to Justice Sharma. A man of many interest, Justice Agarwal reads comics, likes watching TV soaps and mixes with friends and colleagues from the bar.
A stickler for courtroom etiquette, Justice Agarwal is said to prefer English -- even when he is outside the courtroom.
He has a flair for civil law, tax and service matters. His judgments are focused and to the point.
A 1977 science graduate of Agra University, Justice Agarwal did his law from Meerut University (now Chaudhary Charan Singh University) in 1980 and the same year moved to Allahabad High Court to pursue his legal practice.
In 2005, he was moved to the bench and confirmed as a judge of the Allahabad High Court in 2007.
Justice Sibghat Ullah Khan: Justice Khan did his law from Alligarh Muslim University in 1977 and
the same year he moved to Allahabad High court to start his practice.
Justice Khan, 58, practiced in Allahabad High Court for 27 years before he moved to the bench of the high court in 2002 as a permanent judge.
He has a strong sense of history and the role of law in shaping it. He is equally strong on wit which has always endeared him to his colleagues and friends in equal measure.
He has always advocated out of court settlement than prolonged litigations. Nearly 2,000 cases are said to have been settled by mediation on his initiative.
He has exhorted the legal fraternity and others not to shy away from the pronouncement of verdict in the title case of the long-pending dispute.
Circular No. IRDA/NL/CIR/159/09/2010, dated 27-9-2010Following examination of credit insurance covers being marketed by general
insurers to banks offering credit facilities to debtors, it is observed that such covers
appear to be in the nature of credit default insurance. Therefore such covers
necessarily need to have a different regulatory treatment. The Authority under the
powers vested in Section 14(2) of the IRDA Act, 1999 shall therefore frame suitable
guidelines in this regard. In order to do so the Chairman, IRDA under the provisions
of Section 110C of the Insurance Act, 1938 seeks details of the total exposure of
the company under the credit insurance policies issued by them to banks offering
credit facilities to debtors in the enclosed format. The said information shall be
submitted to the Authority within 10 days of the receipt of this letter.
The Authority, after examining the credit default insurance contracts has come to
the conclusion that the insurers are underwriting risks which do not have proper
regulatory framework or sanction. Hence, in exercise of powers under Section
14(1) and 14(2)(i) of the IRDA Act, 1999, the Authority hereby order that all
general insurers to stop selling these policies till such time the Authority comes
with detailed guidelines in this regard
New webside for Central Excise & Service Tax dept:
The central excise & service tax commissionerate Allahabad has launched its website on Friday. The website can be logged in at www.centralexciseallahabad.com. The said website was inaugurated by chief commissioner, central excise & service tax, Lucknow zone, Lucknow, BR Tripathi. The work related to the launching of the
website was done under able guidance and inspiration of commissioner, central excise & service tax, Allahabad, AK Misra.
The website is targeted to contain useful information and links giving a comprehensive insight of the working of central excise & service tax department in general and central excise & service tax commissionerate Allahabad in particular. The up-loading of useful information on website is under process and would shortly be available. The departmental officers as well as the assessees working in the Commissionerate would be benefited from the website, said an official communique.
Within days of opening the registration, exporters have applied for about 30 per cent of the cotton permitted for exports in the backdrop of high global prices. Of the 55 lakh bales (170 kg each) allowed for exports in the current season, traders have already applied for 16.44 lakh bales, leaving the balance of 38.56 lakh bales open for registration, according to the official data. The export registration is being done, for the first time, online. This will ensure "transparency" and reduce transaction costs. It opened on October 1. Despite the projected record level of production this season, beginning October, prices in the domestic market are ruling 68 per cent higher than Rs 22,400 (per candy) in the same period last year. In the New York Futures market, cotton prices are ruling at 98.02 cent per pound compared to 61.
What is Unique ID?
Unique Identification is merely a string assigned to an entity that identifies the entity uniquely. Every person residing in India will soon have a UID. Biometric identification system and checks would be used to ensure that each individual is assigned one and only UID and the process of generating a new UID would ensure that duplicates are not issued as valid UID numbers.
What is the utility of UID?
The programme to provide UID is an opportunity for India to design a 21st century system of identification that could be a significant improvement over the 19th and 20th century systems in use in developed countries like United States of America and Italy.
The tradeoffs made in designing this system will continue to have a long-term impact. A good design for UID could last us for centuries without changes whereas suboptimal choices may dilute or even negate some of the presumed benefits and create future problems.
In an interview to rediff.com in August last year, Unique Identification Database Authority of India chairman Nandan Nilekani said that the unique identification numbers will take into account the database of the poor and the marginalised people, mostly living in the rural areas.
The numbers will, for the first time, provide an identity to those who need it the most. The project has great potential as it sets out to take within its purview the not-so-privileged residents of India.
Some salient features:
Aadhaar (the UID number) is not mandatory. People can choose not to be a part of the exercise.
It is not restricted to Indian citizens only and is meant for residents of India, irrespective of their citizenship. An Aadhaar card does not establish citizenship of India, it is meant for identification.
Even people without proper identification documents can apply for Aadhaar. Authorised individuals, who already have an Aadhaar, can introduce residents who don’t possess any documents to establish their identity to enable them to receive their Aadhaar. Aadhar will not replace other identification documents such as ration card or passport.
The UIDAI will collect only biometric and demographic information about an individual and will not ask for info on caste, religion or language.
Date of Birth is optional (for people who don’t remember/know their date of birth) and approximate age will suffice.
Transgenders have been included in the options under gender and they need not classify themselves as male or FEMAle.
Residents of India have an option to link their UID number to their bank accounts.
To get an UID number residents will have to go to the nearest Aadhaar enrollment camp, details of which will be published in the local media. Residents will have to carry along certain documents, mentioned in the advertisement. Residents will also be photographed and have their fingerprints and iris scanned. The Aadhaar numbers will be issued within 20-30 days.
The draft National Identification Authority of India bill has provisions against impersonation, providing false information and for protection of personal information collected by the UIDAI. Violations can attract penalties in the form of fines of up to Rs 1 crore (Rs 10 million) and imprisonment extending up to a life term.
How to get it?
To get a UID number, residents will have to go to the nearest Aadhaar enrollment camp, details of which will be published in the local media.
Residents will have to carry along certain documents, mentioned in the advertisement. Residents will also be photographed and have their fingerprints and iris scanned.
The Aadhaar numbers will be issued within 20-30 days.
Privacy issues
A great deal has been written about the privacy implications of national ID cards in various countries. And UID too has raised similar concerns.
However, it must be remembered that the UID programme does not issue a smartcard or any type of card or mandate any machine-readable format such as a barcode or RFID.
Even if a barcode were used on the UID letter delivered to the citizen, it would merely encode the UID itself, and not personal information pertaining to the citizen.
In the rediff interview, Nilekani himself had asserted that the UID scheme would not affect civil liberty.
The UID will be used just for verifying someone’s identity, he had said.
It would be a ‘yes’, ‘no’ kind of an exercise. If someone’s identity needs to be verified, only then these numbers will come in handy.
It will just authenticate certain facts about an individual. It will only verify if a certain person’s claim for identity is true or not.
An example of UID’s utility
This form of authentication can be embedded into various forms of services.
For instance, with these numbers, a pensioner can go to a kirana store (a business partner of UIDAI), and can find out the details about the pension due to him by having his biometrics checked at the micro automated teller machine available with the storeowner.
If, for instance, Rs 300 is due to him, the kirana store owner will pay him the same amount from his drawer and have the same Rs 300 credited to his bank account.
The UIDAI had discussed with the Reserve Bank of India for preparing the roadmap for financial inclusion with help of micro-ATMs.
Process for de-duplication
One of the key features of the UID system is ensuring uniqueness in issuing the UID number.
This means that each resident can get one and only one UID number and conversely the UID number can be used by one resident alone.
The only way to ensure uniqueness with a high degree of accuracy is by the use of biometrics.
Biometrics are physical markers of an individual that are unique to an individual such as fingerprints, iris patterns, face structure etc.
Since biometric information contain no ordering and hence cannot be indexed like text based information, when a resident applies for a UID with his/her fingerprints, iris and photo of face, these
biometrics have to be compared against the entire UID database (existing residents with UIDs) to ensure that this new applicant is indeed unique and has not already been allotted a UID (even under a different name, address, etc).
Can UIDs be deactivated?
When a person dies, eventually one would see a need to de-activate the UID associated with the person.
One simple way to deal with that is to flag UID record as inactive once one confirms the death.
In a country of a billion people, updating UID records based on the death register is not easy, especially since a large number of cases of death are not reported and moreover the registration of births and deaths is maintained at local distributed levels across the country making it difficult to update them at a central UID system.
One way to ensure that UIDs are not misused by others after a person’s death is to inactivate the UID if it has not been used say in 10 years (timeout can be changed).
Using the lack of activity as being an indicator of being deceased is also not without its pitfalls. In the case that a UID in inactivated of a person who has simply not authenticated him- self/herself in a long time, s/he can simply activate their UID by a simple re-activation procedure that involves authentication.
Can lost UID numbers be recovered?
When a resident loses his/her UID number (and the associated UID letter) a process is needed to recover the UID number.
This requires a ‘identity check’ which involves capturing the resident’s biometric and comparing it against the entire UID database in order to locate the UID number of the resident — this is the same 1:N check that is undertaken during initial UID enrolment.
Since this is an expensive compute intensive operation, the UID system needs to discourage repeated and frivolous applications of lost UID number — perhaps through a fee for the UID recovery service.
One should set-up a process to change some of the primary information, such as name change, change of primary residence based on the same KYR (know your resident) verification processes that was used for issuing a UID.
What are the types of identifiers?
Several types of identifiers that are provided by different government and private agencies.
Examples are driver license, ration card, election photo identity card, Public Account Number, passport, National Rural Employment Guarantee Act job card etc.
Examples of identifiers that are used for financial transactions include bank account, post office account numbers etc.
Thirdly there are identifiers meant for communication such as mobile numbers, landline phone, email addresses etc.
While the above identifiers of an individual are relevant in specific sectors such as finance, health, communication etc, the UID is a pure identifier which is not tied to any particular sector or application and this abstract quality of the UID has distinct benefit in delivering cross sectoral benefits.
Challenges faced
Designing a Unique Identity Number for a population of more than a billion plus poses incredible management and technical challenges.
One needs to carefully plan the format, namely the structure and the length of the string as well as the method of issuing so as not to run out of available numbers to assign at some future date.
Surprisingly, in the past, there have been several instances of unique numbering systems that had to be changed at a great cost after being in use for several years.
The two main reasons have been
1) unanticipated growth (and types) of objects to which UIDs are assigned, and
2) introduction of structure within the UID format that wastes large parts of the available space of UID values.
Ref. : MT/LC/2010-11
To, Date : 20.10.2010The Manager,UNION BANK OF INDIA,Foreign Exchange Dept.,
176-180, Bhagat Mansion,A.R.Street, Mumbai.
Sub : Open of Import Irrevocable Letter of Credit.
Dear Sir,
We request you to open import irrevocable L/C as per the documents enclosed herewith.1. Original Form for opening Irrevocable Letter of Credit duly Franked for Rs.100/- by Bombay Mercantile Co-Operative Bank.2. Import Proforma Invoice No.101012 Dt. 2010/10/15 for US$ 9469.003. Declaration Cum Undertaking.4. Zerox copy of renewed Limit facility letter Ref. No.ARS:ADV:193-10 Dt.22.04.2010.
We request you to issue typed Draft L/C Copy for approval from beneficiary. Kindly openfinal L/C after our final confirmation only.
You are requested to take FD No. 7787123 dt.16.05.2007 of Rs.1,00,000/- from our CC Account No. 315304010023565 for opening this L/C.
Thanking you,
Yours truly,For Meritt Transmissions,
Mukesh R. ShahPartner
Life insurance policy holders may not be required to keep paper records of their policies once the plan for digitalisation of the sector that is being worked on by the Life Insurance Council is approved by the regulator IRDA.
Life Insurance Council is examining the issue and it is expected to be finalised within a month. If the proposal is approved by IRDA, it could make storage of life insurance related information in digital format possible.
"The proposal will be finalised in a month. We are examining the issue. The current system involves a lot of logistics," S B Mathur, the council's secretary general said. Demat, or digital format of storing information, will significantly save distribution costs for insurance companies.
Currently, two depositories — National Securities Depository Ltd (NSDL) and Central Depository Services (India) Ltd (CDSL) — collectively hold and manage accounts in the electronic form or demat accounts. The NSDL maintains over one crore demat account while more than 64 lakh accounts are managed by the other depository CDSL.
Currently there are 23 life insurance companies operating in the country with 29 crore policies in-force at the end of 2008-09. New policies underwritten by the life insurers were 5.09 crore in 2008-09 against 5.08 crore during 2007-08 showing a marginal increase of 0.10 per cent.
In the first three quarter of the current fiscal, over 3 crore life insurance policies had been sold with new business of life insurance companies growing around 30 per cent to Rs 67,557 crore. The industry had mopped up Rs 52,298 crore during the same period last fiscal.
The Insurance Regulatory and Development Authority (Irda) has suspended sale of universal life policies, which were being promoted as an alternative to unit-linked insurance plans, from October 23. Sales have been suspended until the final guidelines for ULPs are issued. Irda said it had received several complaints on the sale practices of the insurers regarding ULP. “After examining the complaints, the authority is satisfied that the universal life products need a better regulatory framework for protecting policyholders’ interests,” Irda said.
In a draft issued late evening, the regulator defined the Variable Insurance Product, widely known as universal life policies, as life insurance products that provide death and maturity benefits equivalent to the balance in the savings account.
Under this policy, the regulator has proposed to cap the expenses at 25 per cent in the first year and at 5 per cent from second year onwards. Insurance company sources said the commission to agents may also be capped below 5 per cent.
Moreover, single-premium products under ULIPs will not be allowed.
Like unit-linked insurance plans, the minimum policy term will be five years, with a minimum life cover of 10 times for those below 45 years of age. Above 45, the life cover will be seven times. The lock-in under the draft is kept at three years. Also, insurers will not be allowed to collect top-up premium or offer riders with ULPs.
Insurance companies like Reliance Life and Max New York Life have launched these products as a combination of Ulips and traditional plans. Now, they have to follow the investment norms of traditional policies. Under this product, however, the policyholder will have the flexibility to change the policy term as well as the minimum sum assured.
Insurers will have to show the premium separately as risk premium, expense, commission and savings components.
Also, the draft has proposed that the policyholder will have 12 months to revive the policy from the date of first unpaid premium, while the life cover will cease.
Similarly, the benefit paid on death and maturity will be comparable to Ulips. The balance in the savings account will be paid at the time of maturity. On death, the sum assured chosen by the policyholder, along with the balance in the savings account will be paid.
Irda Chairman J Hari Narayan had said ULPs were the next focus area for the regulator as they wanted only fair products to be sold. Last week, insurance companies expressed their concern over capping of charges in ULPs, as agents did not push products with lower fees.
Rampur Distillery, Rampur (Uttar Pradesh)
Radico Khaitan Limited, grain and malt spirit plant (Rampur)
Radico Khaitan Ltd., Bajpur (Uttaranchal )
Radico Khaitan Ltd., Reengus ( Rajasthan)
Radico Khaitan Ltd., Hyderabad ( Andhra Pradesh)
Radico Khaitan Ltd., Aurangabad (Maharashtra)
NORTH
N V DISTILLERIES LTD. (HARYANA)
HIMALAYAN GOLD BEVERAGES (P) LTD. (HIMACHAL)
OAKLAND BOTTLERS PVT. LTD. (J & K)
NEW INDIA DISTILLERS (J & K)
RAJASTHAN LIQUORS (P) LTD. (PUNJAB)
Account Number 12715698 Airtel Number 01145092519
Customer Name M/s FILPACK ENGINEERING PVT LTD
Current Outstanding Rs. 714.00
Last Bill Date 06/10/2010
Last Bill Amount Rs. 0.06
Last Bill Due date 25/10/2010
Last Payment Rs. 952.00
Next Bill Date 05/11/2010
Deposit Amount : Rs. 0.0
View Unbilled Amount
Activate / Deactivate VAS
NV DISTILLERIES & BREWERIES PVT. LTD. (PUNJAB)
SOUTH
KAMAL WINERIES (ANDHRA)
GOWTHAMI AGRO INDUSTRIES PVT. LTD (ANDHRA)
GSB & COMPANY (ANDHRA)
SRI VENKATESHWARA DISTILLERIES (KARNATAKA)
NETHRAVATHI DISTILLERIES PVT. LTD. (KARNATAKA)
POLSONS DISTILLERY (KERALA)
UNITED DISTILLERIES (KERALA)
RAVIKUMAR DISTILLERIES LIMITED (PONDICHERRY)
SOUTHERN AGRIFURANE INDUSTRIES LTD. (TAMILNADU)
SNJ DISTILLERS PRIVATE LIMITED (TAMILNADU)
MIDAS GOLDEN DISTILLERIES (PVT) LTD (TAMILNADU)
EMPEE DISTILLERIES LTD. (TAMILNADU)
EAST
UNITED BROTHERS DISTILLERIES PVT. LTD. (ARUNACHAL)
SEVEN SISTER TRADE & DISTILLERIES PVT. LIMITED (ASSAM)
GOODHOST LIQUORS PVT. LTD. (BIHAR)
GEMINI DISTILLERIES (JHARKHAND) PVT. LTD. (JHARKHAND)
BACCHUS BOTTLING PVT. LTD. (ORISSA)
DIAMOND BOTTLING PLANT COMPANY (WEST BENGAL)
WEST
GWALIOR DISTILLERS LTD. (MP)
WELCOME DISTILLERIES PVT. LTD. (CHATTISGARH)
RADICO NV DISTILLERIES MAHARASHTRA LTD.
BHATIA WINES MERCHANTS PVT LTD (CHATTISGARH)
Commercial
The Commercial Department handles all the purchase requirements of the various manufacturing units and also of the corporate office.
Contact person: Mr. Naresh Raghav
Head - Materials.
Email : [email protected]
Production
The Production Department is responsible for operations in Radico Khaitan's own & strategic bottling units. It
works towards the smooth production and delivery of all the Radico Khaitan brands as per market needs.
Contact person: Mr K.S Raju
President, Manufacturing
Mr KP Singh,
Director – Production
Email: [email protected]
Name Add. Contact Person Web. OtherRadico Khaitan Limited
Bareilly RoadRampur, Uttar Pradesh - 244 901, India
Mr. Rameshwar D. Gupta
http://www.radicokhaitan.com 91)-(595)-2350601/2350602)-9837049961
Radico Khaitan Limited
Plot No. J-I, Block B-I, Mohan Co-Operative Industrial Area, Mathura Road, New Delhi, Delhi - 110044 (India)
Mr. Yogesh Chhabra +(91)-(11)-40975400 / 40975500+(91)-(11)-41678841
Radico Khaitan Ltd
Plot No. B-24, A-25 Shree Khatushyamji, Industrial Complex, RIICO, Reengus
Sikar District -
Rajasthan - India
Radico Khaitan Ltd
B-3, UPSIDC Industrial Development
Area, Phase-I, Sultanpur Patti, BajpurUdham Singh Nagar Di –Uttaranchal - India
Radico Khaitan Ltd
S-59, Timmapur Village, Palmakul Post, Shadnagar TQ,Mahboobnagar - 509325Andhra Pradesh - India
Gwalior Distillers Ltd G.M.(TECH.) A.B. ROAD, RAIRU FARMS Gwalior - 474010, Madhya Pradesh, India
MR. Baldev Singh Athwal (Manager)
91-751-2568305
Moon Beverages Ltd in Ghaziabad
A-32, Sahibabad Indl Area,Site-IV, Ghaziabad, Ghaziabad – 201010
+(91)-(120)-4125076, 4172608
Bhatia Wines Merchants Pvt. Ltd
Village- Dhuma, Tehsil- mungeli,dist-bilaspur,Chattisgarh.
N.V. Distilleris
Village-sindarsi,tehsil-Rajpura,dist- Patiala,
Mr. Aurn Sharma
N.V. Distilleris
10th floor, vandana building,11 tolstoy marg,New delhi- 110001
Mr. K.K. Mathur (AGM Commercial)
http://www.nvgroup.co.in/ 011-431-07000
Sri Shyam Air Service 4-6-145 1st Floor Yanu Seva Pan Bazar Pan Bazar Near Mahakali Police Station Secunderabad
Bansilalpet, Hyderabad - 500003. Phone: 27713453