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  1. 1. PGC NEWSLETTER1st April 2014 1 PGC NEWSLETTER 1st April 2014 THOUGHT OF THE DAY “The way to get started is to quit talking and begin doing” ECONOMICS NEWS • The Reserve Bank of India is expected to keep its policy interest rate unchanged on Tuesday after retail inflation, which has become its preferred price gauge, eased to a 25-month low in February. CORPORATE LAW UPDATES • The new Companies Act, 2013, will come into force from today. 60%percent law applicable from today. • Scheme of arrangement between parent company and resulting company was of demerger which amounts to reconstruction as per article 20(d) of Schedule-I of Gujarat Stamp Act, 1958 and applicant was required to pay for change of ownership as per section 2(g) and article 20(d) of Schedule-I of Stamp Act. • The government on Monday issued the rules governing the audit applicable from today contains mandatory rotation of auditors. RBI / TAX LAW UPDATE • RBI: RBI has recommended the Centre reduce its holdings in public sector banks. This, it says, is essential for robust corporate governance practices, considering these lenders’ deteriorating asset quality and rating downgrades. • IT: Derivative losses weren't bogus merely because transaction involved two client codes which was rectified by NSE. MARKET UPDATES SENSEX 22,365.66 -20.61 CNX NIFTY 6,694.70 -9.50 DOLLAR/ RUPEE 59.91 -1.02 MCX SILVER 42648.0 -0.37 MCX GOLD 28,400.0 -136.0 MCX CRUDE OIL 6097.0 -0.38 Dow Jones Industrial Average 16,457.66 134.60 Nasdaq Composite 4198.99 43.23