Pgc newsletter 16 th aug, 2014

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Pgc newsletter 16 th aug, 2014

  1. 1. PGC NEWSLETTER 14TH AUG, 2014 1 PGC NEWSLETTER 16th Aug 2014 THOUGHT OF THE DAY “THE WORDS THAT ENLIGHTEN THE SOUL ARE MORE PRECIOUS THAN JEWELS.” SEBI/COMPANIES UPDATES • MCA (Ministry of Corporate Affairs)- In exercise of the powers conferred under sections 173,175, 177, 178, 179, 184, 185, 186, 187, 188, 189 and section 191 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Meetings of Board and its Powers) Rules, 2014. • The Airport Economic Authority Regulatory Authority Appellate Tribunal has upheld the Mumbai airport's decision to penalise private jets and chartered planes for staying beyond 48 hours. • Reliance Communications (RCom), reported a 21.4 per cent increase in net profit during the quarter ended June at Rs 132 crore, backed by higher voice call rates. • Directorate General of Civil Aviation (DGCA) has decided to conduct surprise checks on Indian and international scheduled carriers as well as non-scheduled operators every month, in a move aimed at ensuring better safety for flyers. • State-run fertliser maker RCF is planning to set up a subsidiary 'RCF Videsh' that will specifically focus on ventures and assets abroad where feedstock natural gas is cheap or raw materials like phosphate are available in abundance. RBI / TAX LAW UPDATES • RBI/2014-15/175 DBOD. AML. No. 2472/14.06.001/2014-15, Implementation of Section 51-A of UAPA, 1967 – Updates of the UNSCR 1988(2011) Taliban Sanctions List. • RBI/2014-15/176 DBOD.AML.No.2476/14.06.001/2014-15, Implementation of Section 51-A of UAPA, 1967- Updates of the UNSCR 1267(1999) / 1989(2011) Committee's Al Qaida Sanctions List. • RBI/2014-15/182 DBOD.No.BP.BC.33/21.04.048/2014-15, Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Projects under Implementation. • RBI/2014-15/179 DPSS.CO.PD.No. 316/02.10.002/2014-2015, Usage of ATMs – Rationalisation of number of free transactions. MARKET UPDATES SENSEX 26,103.23 184.28 CNX NIFTY 7,791.70 52.15 DOLLAR/ RUPEE 60.76 - 0.04 MCX SILVER 43,300.0 - 0.04 MCX GOLD 28,610.0 - 78.0 MCX CRUDE OIL 5,827.0 - 2.07 Dow Jones Industrial Average 16,663.0 -51.0 Nasdaq Composite 4,465.0 12.0 WWW.PROGLOBALCORP.COM

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