- Sebi wants IPO forms short and simple
- 500 tax information exchange deals inked
- 2G: govt likely to announce JPC probe on Tuesday
Sebi wants IPO forms short and simple
As part of its efforts to make it easier for investors to enter the stock market through public issues, the Securities and Exchange Board of India (Sebi) is considering making application forms simpler and shorter for initial public offerings (IPOs). The market regulator is also considering a common IPO application form for both Asba and non Asba investors. Under the Asba (application supported by blocked amount) facility, money gets debited from the investor's account only after allotment of shares and not at the time of bidding. The mat ter is being actively considered for expeditious implementation by Sebi and was discussed at its board meeting earlier this month, a senior official said.
500 tax information exchange deals inked
Finance minister Pranab Mukherjee has said about 500 tax information exchange agreements have been signed between different countries across the globe, a development that will help fight the menace of tax evasion and track ill gotten money.
Mukherjee, who is spearheading the fight against tax evasion at the G20 grouping, also made a case for collective action against those countries that refuse to part with tax and banking information essential for tracking slush funds. “Till now, nearly 500 tax Information exchange agreements (TIEA) have been signed all over the world. India Paris
2G: govt likely to announce JPC probe on Tuesday
Putting aside its winter fiasco, Parliament is all set for a relatively smooth budget session from Monday with the government telling the opposition that an announcement on the constitution of a joint parliamentary committee (JPC) into the alleged irregularities in the al- location of 2G spectrum will be made on Tuesday.
Leader of the House in the Lok Sabha and finance minister Pranab Mukherjee gave the assurance to opposition leaders at a meeting convened by speaker Meira Kumar that the government will make the announcement in the House on JPC on Tuesday. On Monday, the session gets a formal start with the President's address to the joint sit- ting of both the Houses of Parliament. Prime Minister Manmohan Singh expressed the hope that the budget ses- sion would be “fruitful and productive“. The general bud- get for 2011-12 will be presented on 28 February.
Officially there was no word from the government on its plans on conceding to the JPC demand over which the en- tire winter session was washed out, but opposition leaders coming out of the meeting disclosed the government's intention. Communist Party of India (CPI) parliamentary party leader Gurudas Dasgupta told reporters, “Why you want me to break the niceties? (The) government has agreed on the JPC. It has come in the media”.