PGC Newsletter dated 10th January,2015

1. PGC NEWSLETTER 1
PGC
NEWSLETTER
10th
January, 2015
THOUGHT OF THE DAY
“ The difference between the Impossible and possible lies in the
person’s Determination ...”
ECONOMIC UPDATES
 The Tamil Nadu National Law School, Tiruchi on Thursday signed a
memorandum of understanding with the Institute of Company Secretaries
of India (ICSI), New Delhi.
 Government Approves Twelve (12) Proposals of Foreign Direct Investment
(FDI) Amounting to Approx Rs.1827.24 Cr
 The Supreme Court on Friday asked the Sahara group to take Fema
approval from Reserve Bank of India for its deal with Mirach Capital
Group to raise over $1 billion by mortgaging its three hotels in London and
New York.
SEBI/CORPORATE UPDATES
 DGFT issued Public Notice No. 81 (RE-2013)/2009-2014 dated 09th
January, 2015 reg Amendment in Appendix – 30A relating to Export
Obligation Period under Advance Authorization/DFIA Schemes.
 SEZ norms relaxed. Developers allowed to do infra activities within, with
conditions and without tax concessions
 New rules proposed for I-T on companies. The draft, among other matters,
provides for recognising segment-wise income for works spread over a
period of time
RBI/TAX LAW UPDATES
 RBI releases Guidelines on Criteria for Institutions, seeking Financial
Assistance from the Depositor Education and Awareness Fund (Press
Release: 2014-2015/1453 dated 09 Jan 2015)
 Vide RBI Notification ref RBI/2014-15/397 DNBR.CC.PD.No.010/03.
10.01/2014-15 dated January 09, 2015 issued to all NBFC’s reg Inter-
Governmental Agreement (IGA) with United States of America (US) under
Foreign Accounts Tax Compliance Act (FATCA) – Registration.
 CBDT issues revised draft on Income Computation and Disclosure
Standards; seeks public comments.
HISTORICAL EVENT
 In 1839, Tea from India 1st arrives in UK
MARKET UPDATES
SENSEX
27,458.38 183.67
CNX NIFTY
8,284.50 49.90
DOLLAR/ RUPEE
62.32 -0.36.
MCX SILVER
36,815.00 -139.00
MCX GOLD
26,791.00 -10.00
MCX CRUDE OIL
3,000.00 -55.00
Dow Jones Industrial
average
17,737.37 -170.50
Nasdaq Composite
4,704.07 -32.12
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