Newsletter dated 26th June, 2015

1. THOUGHT OF THE DAY
“Success means having the courage, the determination, and
the will to become the person you believe you were meant to
be…”
ECONOMIC UPDATES
 Making a strong pitch for investments in India, Finance Minister Arun
Jaitley has asked long-term US investors to start investing without any
delay as India's growth story is on a firm footing and all outstanding issues
are under the government's active consideration.
 The union cabinet on Wednesday approved a pact between India and
Japan for cooperation in the field of intellectual property. The
Memorandum of Cooperation will be signed between the Department of
Industrial Policy and Promotion (DIPP) and the Japan Patent Office. The
pact will be renewed automatically every four years.
SEBI/CORPORATE UPDATES
 Vide SEBI Notification No. F. No. 5/11/CM/2006 notified Securities and
Exchange Board of India (Procedure for Holding Inquiry and imposing
penalties by adjudicating officer) Amendment Rules, 2015 whereby SEBI
adopts e-route for service of notice and allowed service via email and fax
by adjudicating officer.
 The Institute of Cost Accountants of India makes an Invitation to give
comments/ suggestions on the Companies Act 2013 and Rules thereunder
latest by 15th July, 2015.
 High-level committee to look at more changes in Companies Act.
Provisions related to intercorporate loans, managerial remuneration,
independent directors, insolvency and SMEs are likely to be taken up by a
high-level committee set up by the government in the first round of review.
RBI/TAX LAW UPDATES
 Vide Notification No. RBI/2014-15/648 DNBR. CC.PD. No.041/ 03.10.01/
2014-15 dated June 25, 2015 notified appointment of Non-Deposit
Accepting NBFCs with asset size of Rs.100 crore and above as sub- agents
under Money Transfer Service Schemes (MTSS).
 Vide RBI Circular ref RBI/2014-15/649 A.P. (DIR Series) Circular No. 112
dated June 25, 2015, RBI clarifies that Now Authorised Dealer banks
needn't require case-by-case approval of RBI for borrowing overseas
funds.
MARKET UPDATES
SENSEX
27,811.52 -84.45
CNX NIFTY
8,378.00 -20.00
DOLLAR/ RUPEE
63.63 0.03
MCX SILVER
36,115.00 -67.00
MCX GOLD
26,517.00 32.00
MCX CRUDE OIL
3,812.00 -18.00
Dow Jones Industrial
average
17,890.36 -75.71
Nasdaq Composite
5,112.19 -10.22
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