PGC NEWSLETTER18th March 2014 1
18th March 2014
THOUGHT OF THE DAY
“We become what we think about”
• The upstream regulator, Directorate General of Hydrocarbon
(DGH) has backed Oil and Natural Gas Corp (ONGC)’s
demand for appointment of an international expert to assess
if Reliance Industries Ltd (RIL) was drawing out any of its gas
in the KG basin.
• India and China held their third round of the Strategic
Economic Dialogue here today focusing on collaboration in a
number of areas, including railways and Information
CORPORATE LAW UPDATES
• Capital market regulator Sebi has identified investor
empowerment, capacity building and further strengthening of
enforcement and supervision actions as its core areas for
focus in 2014-15.
• Toyota Kirloskar Motor Private Limited (TKM) declared a
lockout at its plants on Sunday morning after talks over wage
negotiation between the management and workers' union
RBI / TAX LAW UPDATE
• RBI: The central bank's foreign exchange reserves in gold fell
15% in value between March and September last year, and the
yield on reserves fell 2 basis points amid low interest rates
across the developed world.
• IT : Where company had not incurred even a single penny to
achieve its objectives, i.e., charitable purpose, it was not
eligible to grant of registration under section 12A.
MCX CRUDE OIL
Dow Jones Industrial