The newsletter provides updates on corporate law, RBI/tax law, markets, and customs regulations from December 2014. It announces the appointment of heads to four nationalized banks by the government. It also notes that the RBI extended the deadline to exchange pre-2005 banknotes to June 30, 2015 and revised reporting formats for foreign bank representative offices in India. Several notifications issued by the Central Board of Excise and Customs amended customs duty rates and regulations. The newsletter closes with an update on domestic and global market indexes and commodity prices at the end of December.

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
1st
January, 2015
HAPPY NEW YEAR 2015…
“Wishing you and your family a very Happy and Prosperous New
Year 2015. May all your endeavors are met with huge success and
appreciation.”
CORPORATE LAW UPDATES
 Government Appoints MD & CEO of Four Nationalised Banks.
 TRAI sets 3G reserve price at 2,720crper MHz.
RBI / TAX LAW UPDATES
 Vide Notification ref RBI/2014-15/373 DCM (Plg) No.G-8
/3004/10.27.00/2014-15 dated December 31, 2014 issued by RBI, whereby it
has been decided to extend the date for exchanging the pre-2005 banknotes to
June 30, 2015.
 Vide Notification ref RBI/2014-15/374 DBR.I BD. No.9745 /23 .13 .001
/2014-15 dated December 31, 2014 issued by RBI to all The Chief
Representative, All Representative Offices of Foreign Banks in India
regarding Revised format of reporting - Representative Offices of Foreign
Banks in India.
 Notification No- 39/2014-Customs- Tariff, dated 31-12-2014 issued by CBEC
Seeks to amend notification No.12/2012-Cus dated 17.3.2012 so as to extend
zero customs duty on chickpeas (gram) upto 31st March, 2015.
 Notification No- 117/2014-Cus(NT),dated 31-12-2014 issued by CBEC seeks
to Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August,
2001.
 Notification No- 49/2014-Customs (Anti Dumping Duty), dated. 31-12-2014
Seeks to levy definitive anti-dumping duty on imports of Pentaerythritol,
originating in or exported from Chinese Taipei, for a period of five years.
 Circular No. 19/ 2014-Customs F. No. 450/25/2009-Cus IV issued by CBEC
to All Chief Commissioners of Customs/Customs (Preventive), All Chief
Commissioners of Customs and Central Excise, All Commissioners of
Customs/Customs (Preventive), All Commissioners of Customs and Central
Excise regarding 24x7 Customs clearance.
 Policy Circular No.15 (RE-2013)/2009-2014 Dated 31st December, 2014
issued by Directorate General of Foreign Trade regarding Guidelines for
Regional Authorities (RAs) to process Online IEC Applications.
MARKET UPDATES
SENSEX
27,447.26 -52.16
CNX NIFTY
8,264.70 -18.00
DOLLAR/ RUPEE
63.32 0.28.
MCX SILVER
36,145.00 155.00
MCX GOLD
26,732.00 29.00
MCX CRUDE OIL
3,389.00 20.00
Dow Jones Industrial
average
17,823.07 -160.00
Nasdaq Composite
4,736.05 -41.39
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