Newsletter dated 13th June, 2015

1. THOUGHT OF THE DAY
“The three great essentials to achieve anything worth while are:
Hard work, Stick-to-itiveness, and Common sense…”
ECONOMIC UPDATES
 Diversified conglomerate ITC Ltd will invest Rs 8,000 crore in greenfield
and brownfield projects in the country's newest state of Telangana.
 Finance Minister Arun Jaitley said today that the loans to small business
sector may double to Rs one lakh crore in the current fiscal.
 Consumer Price Index-based inflation rose to a three-month high of 5.01
per cent in May, even as the food segment saw a decline in the rate of price
rise, official data showed on Friday.
SEBI/CORPORATE UPDATES
 MCA notified that versions of eforms CRA-2, PAS-3 and MGT-15 are likely
to be modified w.e.f 13th June 2015. Stakeholders are requested to plan
accordingly.
 MCA Notification F.No. 1/4ol2013-cL-v dated 12th June, 2015 notified The
Companies (Cost Records and Audit) Amendment Rules, 2014.
 MCA General Circular No. 8/2015 notified that time for filing of Notice of
appointment of the Cost Auditor for the F.Y, 2015-16 in Form CRA-2 and
filine of cost audit report to the Central Government for the F.Y, 2014-15 in
form CRA-4 has been extended till 31st August, 2015.
 ICAI has invited suggestions from Members on the CSR activities that can
be undertaken by them as CAs/CA Firms.
RBI/TAX LAW UPDATES
 Vide Notificaion RBI/2014-15/640 FMRD.DIRD.10/14.03.01/ 2014-15
dated 12th June, 2015 notified the Exchange-Traded Interest Rate Futures.
 Vide RBI/2014-15/637 A. P. (DIR Series) Circular No. 108 notified that
External Commercial Borrowings (ECB) can be raised by eligible
borrowers, for low cost affordable housing projects, under the approval
route.
 Vide RBI/2014- Series) Circular 15/636 A. P. (DIR No.107 decided to
permit Non-Resident Indians (NRIs) to subscribe to the chit funds,
without limit, on non-repatriation basis subject to the certain conditions.
MARKET UPDATES
SENSEX
26,425.30 54.32
CNX NIFTY
7,982.90 17.55
DOLLAR/ RUPEE
64.06 0.08.
MCX SILVER
36,590.00 -222.00
MCX GOLD
26,895.00 3.00
MCX CRUDE OIL
3,858.00 -37.00
Dow Jones Industrial
average
17,898.84 -140.53
Nasdaq Composite
5,051.10 -31.41
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