BUSINESS UPDATES

• Within 18 months the first Annual General Meeting of a new company to be held after its incorporation.

• Duty Drawback is the incentive in import duty given to importers for re-exporting imported goods.

• As per the Indian Partnership Act, 1932, the maximum number of partners that a firm conducting trading business should be 20.

• Non-Profit Companies registered under Section 25 of the Indian Companies Act are exempted from inserting the word “Limited’ or ‘Private Limited’ at the end of the name.

• All merchants banks in India have register with Securities Exchange Board of India (SEBI)

• The Union Budget is called as the Annual Financial Statements in the Constitution of India.

• The term GMV is used mostly commonly in evaluating an e-commerce firms. GMV stands for Gross Merchandise Value.

• Honda is recalling 2.24 lakh cars, making it the largest recall ever in India.

• Mahindra and Mahindra launched an ecommerce site M2All dot com for selling its product and services.

• Kochi International Airport has the distinction if being the world’s first solar energy powered airport.