Newsletter dated 6th August, 2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
6th
August, 2015
THOUGHT OF THE DAY
“Success is the sum of small efforts, repeated day in and day
out…”
ECONOMIC UPDATES
 The Union Cabinet has cleared amendments to the Arbitration and
Conciliation Act, 1996, almost mirroring an earlier ordinance making
arbitration time-bound and fee-bound to ensure faster resolution of
commercial disputes at a cheaper rate.
 The Reserve Bank of India has warned banks against under-declaring non-
performing assets (NPAs) and on ever-greening of accounts. RBI has been
taking a number of steps like asking banks to constitute joint lenders
forum and strategic debt restructuring for revitalising distressed assets.
SEBI/CORPORATE UPDATES
 Vide SEBI CIR/CFD/POLICYCELL/3/2015 dated 5 August, 2015 notified
Formats under SEBI (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011(Regulations) which shall come into force with
immediate effect.
 SEBI issued guidelines on Overseas Investments and Other Issues
/clarifications for AIFs/VCFs.
 Vide DGFT Public Notice No. 29/2015-20 dated 4 August, 2015 provided
facility for exporters to continue to file applications for benefits under
Chapter 3 schemes of the earlier Foreign Trade Policy as per procedures
prescribed in the amended HBPs, which shall be effective from 1.07.2015.
 Public Interest Litigation filed by former Head of Southern Region of ICAI
praying for issuance of writ of certiorarified mandamus to quash
proceedings of ICAI relating to grant of approval for registration of CPT on
the ground that it was ultra vires of the Chartered Accountants
(Amendment) Act 2006 was quashed by Madras High Court.
RBI/TAX LAW UPDATES
 Vide Circular No.17 dated 04-08-2015 issued by DVAT, last date of filing of
online/hard copy of first quarter return for the year 2015-16, in Form
DVAT-16, DVAT-17 and DVAT-48 along with required
annexure/enclosures has been extended to 07/08/2015.
MARKET UPDATES
SENSEX
28,185.82 -37.26
CNX NIFTY
8,556.10 -11.85
DOLLAR/ RUPEE
63.76 0.01
MCX SILVER
33,510.00 31.00
MCX GOLD
24,716.00 25.00
MCX CRUDE OIL
2,890.00 2.00
Dow Jones Industrial
average
17,540.47 -10.22
Nasdaq Composite
5,139.94 34.40
http://www.proglobalcorp.com