Newsletter dated 15th June, 2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
15th
June, 2015
THOUGHT OF THE DAY
“ Knowledge is the eye of desire and can become the pilot of the
soul ...”
SEBI/CORPORATE UPDATES
 DSC issuance process to get stringent from 1st July 2015. Procure your
DSC in Advance expiring in near future.
 Payment and Settlement (Amendment) Act, 2015 applicable from June
1, 2015.
 Vide Circular ref CIR/IMD/FIIC/05/2015 dated June 12, 2015, SEBI
clarifies that Foreign Venture Capital Investors can obtain registration
as FPI’s.
 Vide Circular ref CIR/MRD/DRMNP/11/2015 dated June 12, 2015,
SEBI allows stock exchanges to introduce cash settled interest rate
futures on 6-year and 13 year Govt. security.
 London Stock Exchange listed Vedanta Resources on Sunday
announced an all-stock deal, worth $2.3 billion to minority
shareholders, to merge its Indian units Vedanta Ltd and Cairn India
Ltd. As part of the merger, minority shareholders of Cairn India,
including LIC, will receive one equity share in Vedanta for each equity
share they hold and one redeemable preference share in Vedanta Ltd
with a face value of Rs.10 and an assured dividend of 7.5 per cent per
annum. The preference share will have tenure of 18 months, after
which it will be redeemed for cash at face value. The effective swap
ratio, including the preference share, is 1:1.04. Life Insurance
Corporation of India (LIC) may seek some clarifications on the Cairn
India merger with Vedanta Group. The transaction will be tax neutral
for both the company and the shareholders.
RBI/TAX LAW UPDATES
 RBI releases Data on International Banking Statistics of India:
March 2014 to December 2014 (Press Release : 2014-2015/2648).
 The government has asked senior Income Tax (I-T) department
officers to individually contribute at least three innovative ideas, to
widen the tax base.
MARKET UPDATES
SENSEX
26,585.53 160.23
CNX NIFTY
8,004.15 21.25
DOLLAR/ RUPEE
.64.09 0.02
MCX SILVER
36,629.00 35.00
MCX GOLD
26,906.00 12.00
MCX CRUDE OIL
3,844.00 -14.00
Dow Jones Industrial
average
17,898.84 -140.53
Nasdaq Composite
5,051.10 -31.41
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