1. PGC NEWSLETTER28th March 2014 1
PGC
NEWSLETTER
28th March 2014
THOUGHT OF THE DAY
“A man should look for what is,
and not for what he thinks should be”
ECONOMICS NEWS
• Multi Commodity Exchange (MCX), the country’s largest bourse in this
segment, plans to change its norms to enable transfer of shares of a
shareholder declared ‘not fit and proper’ by the regulator to an escrow
account.
• The Forward Markets Commission, the commodities market regulator,
has permitted closure of applications of e- series investors on the scam-
hit National Spot Exchange.
CORPORATE LAW UPDATES
• The bondholders of Mumbai based software firm, Geodesic, have filed a
complaint with the corporate affairs ministry last week to look into an
alleged cash mismanagement of Rs 1,200 crore by the company
• The Ministry of Corporate Affairs has notified the rules of Companies
act, 2013
• Indian Hotels, a company promoted by the Tata Group, is planning to
raise up to Rs 1,000 crore from existing shareholders through a rights
issue.
RBI / TAX LAW UPDATE
• RBI: RBI has issued notification regarding implementation of Basel III
Capital Regulations in India. RBI gave banks another year to implement
Basel- III capital regulations. With this, the deadline now stands at
March 31, 2019.
• IT: Registration granted under section 12A cannot be cancelled on basis
of general observation not substantiated by any fact.
MARKET UPDATES
SENSEX
22,254.17 39.80
CNX NIFTY
6,661.65 19.90
DOLLAR/ RUPEE
60.06 -0.26
MCX SILVER
42940.00 0.12
MCX GOLD
28363.00 -0.34
MCX CRUDE OIL
6123.00 -0.28
Dow Jones Industrial
Average
16,264.23 -4.76
Nasdaq Composite
4151.23 -22.35