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Power of AO to Grant Stay — Whether Discretionary or Controlled By the Instructions and Circulars
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Tax Implications in the Hands of Successor / Resulting Company
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Capital Gains Tax Implications in Singapore on Capital Reduction or Liquidation
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Legal Considerations for Start-Ups – Are you overlooking some?
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ATR & AQMM – Audit Reports of Auditors!
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भारत पहले – 75 Year of Independence
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February 2011

Asian Clearing Union (ACU) Mechanism — Indo-Iran Trade

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary

Reading Time 1 mins

New Page 1

Part C : RBI/FEMA

Given below are the
highlights of certain RBI Circulars.

57 A.P. (DIR Series)
Circular No. 31,

dated 27-12-2010

Asian Clearing Union (ACU)
Mechanism — Indo-Iran Trade

This Circular provides that
all eligible current account transactions including trade transactions with Iran
should be settled in any permitted currency outside the ACU mechanism until
further notice. This has been done to mitigate the difficulties being
experienced by importers/exporters in payments to/receipts from Iran.

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February 2011

Asian Clearing Union (ACU) Mechanism — Indo-Iran Trade

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Asian Clearing Union (ACU) Mechanism — Payments for import of oil or gas

Comprehensive Guidelines on Over-the-Counter (OTC) Foreign Exchange Derivatives and Overseas Hedging of Commodity Price and Freight Risks

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February 2011

Asian Clearing Union (ACU) Mechanism — Indo-Iran Trade

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Asian Clearing Union (ACU) Mechanism — Payments for import of oil or gas

Comprehensive Guidelines on Over-the-Counter (OTC) Foreign Exchange Derivatives and Overseas Hedging of Commodity Price and Freight Risks