Newsletter dated 19th June, 2015

1. THOUGHT OF THE DAY
“Formal education will make you a living; self-education will
make you a fortune…”
ECONOMIC UPDATES
 Government is looking to push stake sales in smaller state-run companies
as part of a revised strategy aimed at meeting its ambitious disinvestment
target.
 India is set to formally consider next week a proposal to join China-led
Asia Infrastructure and Investment Bank. The finance ministry has moved
the proposal ahead of June 29, when all member countries have to ink the
articles of association for the multilateral lender.
SEBI/CORPORATE UPDATES
 MCA issued Link to Submission of Suggestion to Company Law Committee
http:// feedapp.mca.gov.in/
 MCA General Circular No. 9/2015 dated June 18, 2015 issued Clarification
under section 74 on repayment of deposits accepted by the companies
before the commencement of the Companies Act, 2013.
RBI/TAX LAW UPDATES
 Vide Notification RBI/2014-15/643 A.P.(DIR Series) Circular No. 110
notified that banks were required to submit BEF statement to respective
regional offices of Reserve Bank of India, in the Business Reporting
Language (XBRL) system from half year ended June 2015.
 Vide Notification RBI/2014-15/644 A.P. (DIR Series) Circular No.111
notified that Export-Import Bank of India (Exim Bank) has entered into an
Agreement with the Government of Socialist Republic of Vietnam, for
making available to the latter, a Line of Credit (LOC) of USD 100 million
(USD One Hundred million) for financing supply of High Speed Patrol
Vessel to the Socialist Republic of Vietnam.
 Vide Notification RBI/2014-15/645 DBOD. No. DEAF Cell.BC.105/
30.01.002/2014-15 issued Operational guidelines regarding The Depositor
Education and Awareness Fund Scheme, 2014 –under Section 26A of
Banking Regulation Act, 1949.
 E-commerce portals to file tax returns every quarter. Delhi government's
Value Added Tax department has decided to bring all big and small players
on e-commerce platforms under the scanner to check evasion of tax.
MARKET UPDATES
SENSEX
27,313.45 197.62
CNX NIFTY
8,226.35 51.75
DOLLAR/ RUPEE
63.82 0.09
MCX SILVER
36,850.00 -42.00
MCX GOLD
27,170.00 14.00
MCX CRUDE OIL
3,888.00 -4.00
Dow Jones Industrial
average
18,115.84 180.10
Nasdaq Composite
5,132.95 68.07
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