Newsletter 7th November,2014

1. PGC NEWSLETTER 1
PGC NEWSLETTER 7th November, 2014
THOUGHT OF THE DAY “HAPPINESS IS THE REAL SENSE OF FULFILLMENT THAT COMES FROM HARD WORK.” ECONOMIC NEWS
 Robert Vadra moves to wind up his six companies i.e. Lifeline Agrotech, Greenwave Agro, Rightline Agriculture, Future Infra Agro, Best Seasons Agro and Primetime Agro. All six have been mostly engaged in acquiring property in Rajasthan, especially cheap land.
 Weak corporate financial health affecting banks' asset quality: Moody's. Says non-performing assets of banks will continue to act as a drag on the bank's credit quality
SEBI/CORPORATE UPDATES
 SEBI set to allow foreign VCs to finance core investment firms. PR issued regarding Consultative Paper seeking public comments on proposal for allowing FVCIs to invest in Core Investment Companies engaged in Infrastructure Sector.
 ONGC and Reliance Industries are the only two Indian companies that disclose tax payments in almost all the foreign countries where they operate, say a report issued by Transparency International.
 NOTIFICATION NO.96 (RE- 2013)/2009-2014 dated 05-11-2014 issued by Directorate General of Foreign Trade regarding Extension of time for export of Red Sanders wood by Government of Andhra Pradesh & Directorate of Revenue Intelligence (DRI) to finalize the modalities and export of respective allocated quantity of Red Sanders wood
RBI / TAX LAW UPDATES
 The Reserve Bank of India (RBI) has made SMS alerts mandatory cheque transactions as soon as the instruments are received for clearing.
 NOTIFICATION NO.101/2014-CUSTOMS (N.T.) dated 5th November, 2014 issued by CENTRAL BOARD OF EXCISE AND CUSTOMS regarding Rate of exchange of conversion of each of the foreign currency with effect from 6th November, 2014.
 Notification issued by DEPARTMENT OF TRADE & TAXES regarding Withdrawal of filing of information related to statutory forms online in Form CD-1 - F.7(450)Policy/VAT/2014/455-466 - Dated 5-11-2014 - Delhi Value Added Tax.
MARKET UPDATES SENSEX
27,836.87-79.01 CNX NIFTY
8,317.70-20.60 DOLLAR/ RUPEE
61.50.08. MCX SILVER 34,316.00-96.00 MCX GOLD 25,240.00-221.00 MCX CRUDE OIL 4,814.00-19.00 Dow Jones Industrial average 17,554.4769.94 Nasdaq Composite 4,638.4717.75
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