The newsletter provides updates on economic, corporate, regulatory and market news. It notes that the Tamil Nadu National Law School signed an agreement with the Institute of Company Secretaries of India. It also mentions that the government approved 12 foreign direct investment proposals totaling approximately 1.8 billion rupees. Additionally, the newsletter outlines new rules proposed for income tax on companies and revisions to the draft on income computation and disclosure standards by the Central Board of Direct Taxes.

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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