PGC NEWSLETTER20th March 2014 1
20th March 2014
THOUGHT OF THE DAY
“The starting point of all achievement is
• Infosys co-founder and Congress candidate for Bangalore South Lok
Sabha seat Nandan Nilekani today said he supports job reservation in
public sector, but the private sector should not be over-regulated and
instead be encouraged to be more proactive about inclusion.
• India’s intellectual property (IP) regime and patent laws have got strong
support from US-based law professors and non-profit organisations as
well as leading MNCs.
CORPORATE LAW UPDATES
• Separate meetings of the deputy labour commissioner with Toyota
Kirloskar Motor and the Toyota Kirloskar Motor Employees Union
(TKMEU) remained inconclusive on Wednesday.
• SEBI has barred Jignesh Shah- promoted Financial Technologies India
Ltd ( FTIL) from owning stakes in the country’s stock exchanges.The
capital markets regulator said FTIL was not ‘ fit &proper’ to hold shares
in bourses and directed it to sell its holding in the four exchanges and a
clearing corporation within 90 days.
RBI / TAX LAW UPDATE
• The central bank has suggested that top executives of public sector
banks (PSBs) be selected from a wider pool that includes private sector
candidates, rather than be confined to those from the state-run lenders.
• RBI has barred asset reconstruction companies from acquiring bad
loans from sponsor banks on a bilateral basis. However, it has allowed
such transactions if the asset is auctioned in a transparent manner, on
an arm’s- length basis and if prices are determined by market factors.
MCX CRUDE OIL
Dow Jones Industrial