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INDIAN Post Office Rules, 1933, have been amended to plug in one more heading after the `competition post cards' category. The Ministry of Communications and Information Technology announcement speaks of `Meghdoot' post card priced at 25 paise. So, what is meghdoot post card? A post card shall be deemed to be a meghdoot post card if it is so marked and provides in the space on the left hand portion of the address side, a space for single colour or multi-colour printed advertisement subject to the following conditions: Advertisement shall bear pictorial depictions or messages or both; no advertisement shall be printed anywhere else except the space provided therefor on such post card; on the address portion of such post card the words `Meghdoot post card' shall be printed in Hindi and English; the obverse side of such post card shall be used for communication only; such post card shall be a single post card; and it shall conform to specified dimensions. That would peg the content versus commercial ratio at 2:1. (Notification No GSR612(E) dated September 2, 2002)

Vitamin C ceiling

In exercise of the powers conferred by Drugs (Prices Control) Order, 1995 the Ministry of Chemicals and Fertilizers, the National Pharmaceutical Pricing Authority, has fixed the price of Vitamin C Tablet (500mg) at Rs 11.68 per strip/blister of 10. This would be ceiling prices exclusive of excise duty, and local tax, if any. (Notification No SO950 (E) dated September 9, 2002)

Service fee hiked

The Securities and Exchange Board of India (Mutual Funds) Fourth Amendment Regulations, 2002, specify the service fees payable by mutual funds, in relation to net assets as on March 31. Service fee payable is Rs 2.50 lakh where net assets are up to Rs 500 crore, Rs 3.50 lakh for the Rs 1,000 crore to Rs 3,000 crore category and so on. At the high end of the scale, the fee is Rs 7.50 lakh where assets are beyond Rs 10,000 crore. The revised service fee structure would be effective from the financial year 2003-2004. (Notification No SO956 (E) dated September 9, 2002)

Time trim

Under the Banking Arrangement dated 6th September, 1993 concluded between Reserve Bank of India (RBI) and the Bank for Foreign Economic Affairs of the USSR (as it was then), Moscow (BFEA), repayment of State Credits is made by way of exports of goods and services from India to the Russian Federation against Letters of Credit (LCs) opened by BFEA. Reimbursement claims sent to RBI, Deposit Accounts Department, where the documents are negotiated within the validity of LCs are honoured by RBI subject to the condition that claim is received by RBI not later than the 37th working day (from the date of expiry of LC). It has now been decided in consultation with the BFEA to reduce the period for lodging the reimbursement claims from 37 working days to 27 working days from the date of expiry of LC. The claims received after the above-stipulated period will be considered only after the receipt of fresh payment instructions from BFEA. (Circular No AP DIR Series 13 dated September 6, 2002).

For 4-lane

A notification from the Ministry of Road Transport and Highways has given a long list of land pieces acquired for four-laning NH5, from KM 61 to KM 136/500 in the Bhubaneswar - Kolkata Section, in the State of Orissa. In exercise of the powers conferred by the National Highway Act, 1956, the Central Government has declared that on the publication of the notification in the Official Gazette the said lands shall vest absolutely with the Central Government free from all encumbrances. Check whether your land figures in the schedule. (Notification No SO942 (E) dated September 5, 2002).

Indirect takeover

In case of indirect acquisition or change in control, a public announcement shall be made by the acquirer within three months of consummation of such acquisition or change in control or restructuring of the parent or the company holding shares of or control over the target company in India. (Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Second Amendment Regulations, 2002).

D. Murali

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Pictorial `Meghdoot' post card at 25 paise

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