PGC NEWSLETTER 8TH SEPT, 2014 1

PGC

NEWSLETTER 8

th

Sept 2014

THOUGHT OF THE DAY

“I have been impressed with the urgency of doing.Knowing is not enough; we must apply. Being willing is not enough; we must do.”

SEBI/COMPANIES UPDATES

The Ministry of Corporate Affairs (MCA), which is implementing the Companies Act, has

launched the scheme which offers immunity for thousands of entities that have defaulted

on making statutory filings.

Government provides clarity on CAG Audit provision in new Companies Act, To remove

difficulties faced by stakeholders, the Corporate Affairs Ministry has made changes to

provisions regarding appointment of auditors by CAG for 'deemed government

companies' under the new companies law.

The (SAT) Securities Appellate Tribunal on Monday stayed the payment of a Rs 1,849

crore penalty imposed by capital markets regulator Securities and Exchange Board of

India (SEBI) on Satyam Computers founder and then chairman B Ramalinga Raju and

four others.

Bharat Heavy Electricals Limited's city-based Electronics Division has bagged an order

from National Power Training Institute for design, engineering, testing, supply,

installation and commissioning of Operator Training Simulator for 800MW Super

Critical Power Plant, the company said today.

Larsen & Toubro (L&T) has bagged contracts worth Rs 1,920 crore in its hydrocarbon

business in the offshore and onshore segments.

RBI / TAX LAW UPDATES

Central Board of Excise and Customs (CBEC) deliberated upon seeking information from

municipal authorities, the telecom and insurance regulators, the RBI, Foreign Exchange

Dealers Association of India, stock and commodity exchanges, Regional Transport Office

(for tour operators, rent-a-car agencies) registrar of shops and establishments (for

coaching classes and fashion designers) and IATA.

Dehi HC today admits a WRIT challenging the CBDT notification in the matter of new TAR.

Delhi High Court on Friday 5th Sep, listed for 8th September Monday Diary no. 162371/2014.

W.P. (C) 5990/2014.Mahesh Kumar & Co. vs. UOI.

The Kerala High Court has held that service tax can be levied on the fees and

commissions charged by banks for converting overseas remittances into rupees, a ruling

that is seen as a setback for exporters.

MARKET UPDATES

SENSEX

27,259.34 232.64

CNX NIFTY

8,155.0 69.53

DOLLAR/ RUPEE

60.24 - 0.17

MCX SILVER

42,245.0 0.56

MCX GOLD

27,393.0 15.0

MCX CRUDE OIL

5,609.0 - 0.60

Dow Jones Industrial

Average

17,137.0 67.0

Nasdaq Composite

4,583.0 21.0

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