Civil Services Mains 2020 Results: In or Out ? Way ahead, gratitude and Pain
The Civils Mains result has been declared. This thread is for sharing your grief , joy , mixed feelings - absolutely anything and everything.
@D503 https://www.thehindu.com/news/national/the-hindu-explains-what-is-foreign-contribution-regulation-act-and-how-does-it-control-donations/article32590504.ece
I agree with the point of electoral bonds being the new way through which unaccounted funds can be transferred to the political parties but not getting into politics , the above thing which you stated that how a foreign company can make enourmous contribution is somewhat wrong. The above article shws that there needs to be some sort of indian holding or presence then only they can transfer.
The amendment was precisely brought to save both congress and bjp from court judgement that held them guilty of violating FCRA by taking funding from vedanta. And pardon my bias but I will trust Milan Vaishnav over Vijaita singh.
Even the same article says that Indian subsidiaries of foreign company are exempt form FCRA so Flipkart which is 80% owned by walmart can make unlimited contribution through electoral bonds for 2 reasons - first 7.5% limit has been removed, second FCRA was amended...these 2 changes in conjunction means only sky is the limit for donations or FEMA whichever is higher 😆
Nevertheless I am not an expert and I maybe wrong but as far as my understanding goes the amendment has opened floodgates for unaccounted money to flow into the system .
https://pib.gov.in/newsite/PrintRelease.aspx?relid=177082
Clause 217 of the Finance Bill, 2018 seeks to amend Section 236 of the Finance Act, 2016 which relates to amendment to sub-clause (vi) of the clause (i) of Sub-section (1) of Section 2 of the Foreign Contribution (Regulation) Act, 2010. The proviso to the said sub-clause inserted under the Finance Act, 2016 states that where the nominal value of share capital is within the limits specified for foreign investment under the Foreign Exchange Management Act, 1999 (42 of 1999), or the rules or regulations made there under, then,notwithstanding the nominal value of share capital of a company being more than one half of such value at the time of making the contribution, such company shall not be deemed to be a foreign source, if the foreign investment is within the limit specified under the Foreign Exchange Management Act, 1999 or the rules or regulations made there under.
EiChan,sstarrr
@sstarrrthis is not a political issues , this received bipartisan support in line with chor chor mosere bhai.The amendment was precisely brought to save both congress and bjp from court judgement that held them guilty of violating FCRA by taking funding from vedanta. And pardon my bias but I will trust Milan Vaishnav over Vijaita singh.
Even the same article says that Indian subsidiaries of foreign company are exempt form FCRA so Flipkart which is 80% owned by walmart can make unlimited contribution through electoral bonds for 2 reasons - first 7.5% limit has been removed, second FCRA was amended...these 2 changes in conjunction means only sky is the limit for donations or FEMA whichever is higher 😆
Nevertheless I am not an expert and I maybe wrong but as far as my understanding goes the amendment has opened floodgates for unaccounted money to flow into the system .
https://pib.gov.in/newsite/PrintRelease.aspx?relid=177082
Clause 217 of the Finance Bill, 2018 seeks to amend Section 236 of the Finance Act, 2016 which relates to amendment to sub-clause (vi) of the clause (i) of Sub-section (1) of Section 2 of the Foreign Contribution (Regulation) Act, 2010. The proviso to the said sub-clause inserted under the Finance Act, 2016 states that where the nominal value of share capital is within the limits specified for foreign investment under the Foreign Exchange Management Act, 1999 (42 of 1999), or the rules or regulations made there under, then,notwithstanding the nominal value of share capital of a company being more than one half of such value at the time of making the contribution, such company shall not be deemed to be a foreign source, if the foreign investment is within the limit specified under the Foreign Exchange Management Act, 1999 or the rules or regulations made there under.
Are you a lawyer? :D
Accepted all your arguments, but the time for discussion on forum is always either post prelims or post mains.
I thought you were asking something related to pre ya kuch. My bad. And for me also Milan Vaishnav first, only if I get time to read him now. Good luck :)
Dionysus,EiChan
Hey guys, Can anybody re-share the document which contains important terms related to ancient and medieval history ? Thanks.
HISTORYKEYWORDS4961617245170.pdf
balwintejas,rocknrolla
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