Are shareholders part owners of the company?

Shareholders are not part-owners of the company in the eyes of the law. Shareholders can't claim part-ownership in the property of the company. Shareholders simply stay as members of the company. They have been given certain rights by the law such as, to attend meetings, to vote and to receive dividends. This was stated clearly by the Supreme Court in Bacha F. Guzdar vs CIT (supra).

In the eyes of the law, the Company has a separate legal existence as has been envisaged by The Companies Act, 1956. A Company is a juristic person capable of carrying out business activities in its own name. It is a legal entity distinct from its members or shareholders and thus has its own set of rights, duties and liabilities which are separate from the shareholders'. The limited liability of the shareholders or members of the company arises only from this separate legal existence of the company.

RBI issues fresh directive on Gold imports

Earlier Reserve Bank of India (RBI) had restricted import of gold to consignment basis by banks to meet the genuine needs of jewellery exporters. Now, this provision has been extended to all authorised dealers, nominated agencies or star trading houses taken into account the demands of jewellery exporters. All Letters of Credit (LoCs) are to be issued by such agencies on 100% cash margin basis for all categories of gold imports. Futher, gold will be imported against Documents against Payment basis as against Documents against Aceeptance basis. This requirement willn't be exercised in case of exports of gold jwellery.

Effect of Gold on Current Account Deficit (CAD) of India

First I'll explain as to what exactly Current Account Deficit or CAD really is. Current Account Deficit happens when your export income isn't able to match your import liabilities. It happens when you earn dollars less than what you spend. Since, international trade happens in dollar denominations, earning dollars is primarily important which also reflects upon the strength of an economy.

Now, the question arises: Why're we earning less dollars? Its because global demand is lull post recession periods of 2009 and our export sector, whether its a manufacturing or services sector, isn't able to gather much business growth. Also, we're facing increased competition from other developing nations in terms of capturing demand at lower prices.