Newsletter dated 20th April, 2015

1. THOUGHT OF THE DAY
“Be as you wish to seem…”
ECONOMIC UPDATES
 The finance ministry will soon approach the Cabinet with plans to sell
stakes in about a dozen companies to create an asset-disposal pipeline as it
looks to meet a record disinvestment target. The government also needs to
sell shares in some listed companies to meet Securities and Exchange
Board of India (Sebi) public holding norms by the end of this fiscal year.
 Finance Minister Arun Jaitley has said that Indian economy is now clearly
on a recovery path with a 7.4 per cent growth in the first three quarters
and the new government is committed to maintain overall macroeconomic
conditions on a sustained basis.
SEBI/CORPORATE UPDATES
 SEBI mulls 'bright line' rules to define control in merger and acquisitions.
In a major step towards bringing greater regulatory clarity for M&A deals,
Sebi plans to put in place new guidelines to define 'bright lines' identifying
the change of control in such transactions.
 SEBI grants 18 months' time to Cos of non-operational Stock Exchanges
to obtain listing in a recognized Exchange.(Circular ref-
CIR/MRD/DSA/05/2015 dated April 17, 2015).
 Vide Notification No. P. 6/3/2006-SEZ dated 06.04.2015 issued by
Ministry of Commerce & Industry, SEZ, Govt. directs Development
Commissioner to allow setting-up of power plants only in non-processing
area of SEZs.
RBI/TAX LAW UPDATES
 RBI specified that With this makeover, we also take a small step into social
media. We will now use Twitter (albeit one way) to send out alerts on the
announcements we make and YouTube to place in public domain our press
conferences, interviews of our top management, events, such as, town halls
and of course, some films aimed at consumer literacy.
 Don't pay higher service tax of 14% as Finance Bill not yet passed. Revenue
Secretary Shaktikanta Das said customers should lodge a complaint with
the local Chief Commissioner if any establishment asks for 14 per cent
service tax.
MARKET UPDATES
SENSEX
28,234.45 -207.65
CNX NIFTY
8,544.45 -61.55
DOLLAR/ RUPEE
62.56 0.18
MCX SILVER
36,547.00 92.00
MCX GOLD
26,872.00 60.00
MCX CRUDE OIL
3,454.00 45.00
Dow Jones Industrial
average
17,826.30 -279.47
Nasdaq Composite
4,931.81 -75.98
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