| Professional
News |
| Misc. - Indirect
Tax |
| Tamil Nadu government slaps Rs 2,400
crore tax demand notice on Nokia |
|
Delhi : Nokia India found
itself battling on a new front with tax authorities after it
received a Rs 2,400-crore claim from the Tamil Nadu government
alleging that the mobile handset maker avoided taxes on
devices sold within India by masking them as exports. Nokia
India filed a writ petition in the Madras High Court on Friday
against the notice after talks with taxmen, that have been
going on for the last fortnight, failed.
|
| SEBI |
| Sebi to issue details of corporate
governance norms |
|
Delhi : Market regulator
Sebi will soon come out with a detailed framework for the
implementation of new corporate governance norms that pertain
to protecting whistle-blowers, having orderly succession plans
and keeping at least one woman director on company boards.A
circular with regard to detailed corporate governance norms
for listed companies is in the process of being issued,
official sources said.
|
| RBI |
| Reserve Bank has yet to decide on
inflation targeting: Guv |
|
Maharashtra : Amid caution
from various quarters on the Urjit Patel committee’s
recommendation that monetary policy should move towards
inflation targeting, Reserve Bank of India Governor Raghuram
Rajan said on Friday the proposal was still being discussed.
He said the government would also be consulted before a
decision. The central bank had constituted a committee under
the chairmanship of Patel, one of its deputy governors, on
strengthening the monetary policy framework. The panel came up
with far-reaching recommendations, including a monetary policy
committee with the governor as its head, apart from setting
targets for inflation.
|
| Central bank notifies final
guidelines on bad loans for NBFCs |
|
Delhi : The Reserve Bank of
India (RBI) on Friday came out with final guidelines for the
non-banking finance companies (NBFCs) with regard to the early
detection and recovery of bad loans. The guidelines will be
effective from April 1. "Before a loan account turns into a
non-performing asset, NBFCs will be required to identify
incipient stress in the account by creating a sub-asset
category 'special mention accounts' (SMA)," the RBI said.
|
| RBI sends bank licence applicant list
to EC; IDFC, L&T Finance, LIC Housing top
contenders |
|
Maharashtra : Infrastructure
Development Finance Co, L&T Finance Holdings and LIC
Housing Finance could be in the running for new banking
licences along with Reliance Capital, JM Financial and even
India Post. That's according to a list of applicants' names
that qualify for licences which has been sent to the Election
Commission by the Reserve Bank of India.
|
| Finance & Money
Markets |
| Infosys exits begin to worry
investors; analysts fear exodus will impact biz
development |
|
Maharashtra : Investors in
Infosys are getting worried about an exodus of senior-level
executives, because it could stymie a recent turnaround seen
in the business of the nation's second largest software
exporter, analysts say.As many as 10 top management executives
have resigned from Infosys since the Bangalore-based company
called NR Narayana Murthy back from retirement and made him
executive chairman.
|
| Markets post losses for second week
as US Fed’s paring of bond-buying
weighs |
|
Maharashtra : The benchmark
indices ended flat on Friday as the US Fed’s decision to cut
its monthly bond purchases by another $10 billion kept markets
subdued. The BSE Sensex ended 0.06%, or 13.66 points, higher
at 21,753.75, while the NSE’s Nifty ended 0.16%, or 10.10
points, higher at 6,493.20. On Friday, foreign institutional
investors (FIIs) made their biggest purchase in more than a
year, buying $692 million worth of shares as per provisional
data on the BSE.
|
| High interest rates result in flurry
of FMP launches |
|
Maharashtra : Fund houses
are rushing to launch fixed-maturity plans (FMPs) to take
advantage of high short-term rates prevalent in the market
this month. “March typically sees a flurry of FMPs as the
interest rates are higher because of a liquidity crunch. Banks
generally issue a lot of certificate of deposits (CDs) at high
rates to bridge their liquidity requirement. As of now, we are
seeing a large volume of CDs being issued in the two-month and
one-year segments,” said Sanjay Shah, head, fixed income, HSBC
Global Asset Management.
|
| Commodities |
| Gold, silver fall on sustained
selling and global cues |
|
Delhi : Extending losses for
the fourth straight day, gold prices declined by another R95
to R30,330 per 10 gm in the national capital on Friday. Silver
followed suit and lost another R500 to R45,200 per kg on lack
of buying support from industrial units and coin makers.
Traders said sustained selling by stockists against sluggish
demand and weakening global trend mainly kept pressure on
precious metals. Gold in New York, which normally sets the
price trend on the domestic front, fell by 0.16% to $1,328.50
an ounce and silver by 1.65% to $20.27 an ounce. On the
domestic front, gold of 99.9% and 99.5% purity surrendered R95
each to R30,330 and R30,130 per 10 gm respectively. It had
lost R405 in the previous three sessions. Sovereign, however,
held steady at R25,200 per piece of 8 gm.
|
| Global coffee exports fall 8.4% in
Jan: ICO |
|
Delhi : Global coffee
exports fell by 8.4% to 8.7 million bags in January this year
due to sluggish shipments from Vietnam and Indonesia,
according to the International Coffee Organisation (ICO).
Worldwide coffee exports stood at 9.44 million bags in the
same period last year. One bag contains 60 kg of coffee.
"Robusta exports were 17.2% lower as exports from Vietnam and
Indonesia have been limited, despite the large crop expected
this year," ICO said in its report.
|
| Notifications
& Circulars |
| SEBI |
| CIR/MRD/DP/ 10 /2014
(sebi) (Maharashtra) 21/03/2014
|
| Reporting of OTC trades in Corporate Bonds on Trade
Reporting Platforms of Stock Exchanges |
| RBI |
| Notification
No.RBI/2013-14/526 (Delhi) 21/03/2014 |
| Public Provident Fund Scheme, 1968 (PPF Scheme, 1968) and
Senior Citizens Savings Scheme, 2004 (SCSS, 2004) - Revision
of interest rates |
| Notification No.
RBI/2013-14/527 (Delhi) 21/03/2014
|
| The Depositor Education and Awareness Fund Scheme, 2014 -
Section 26A of Banking Regulation Act, 1949 |
| Notification No.
RBI/2013-14/528 (Delhi) 21/03/2014
|
| Early Recognition of Financial Distress, Prompt Steps for
Resolution and Fair Recovery for Lenders: Framework for
Revitalising Distressed Assets in the Economy |
| |
|
 |
| Economy |
| India |
| Gas price increase may be put on hold as Election
Commission plays tough |
| Exporters brace for rough ride on Indian rupee's
relentless rise |
| Retail inflation for farm and rural workers eases
in Feb |
| India's forex reserves rises $1.8 billion in week
to March 14 |
| India's steel output down 3.2% in
Feb |
| |
| International |
| Russian shares tumble as US widens
sanctions |
| ‘Nearly all major US banks better placed to
tackle meltdown’ |
| As spending rises, UK posts larger-than-forecast
deficit |
| Foreign investors raised their holdings of
China’s onshore bonds to a record $62 billion as of
February |
| |
| Corporate
Watch |
| Kwality plans Rs. 300-cr dairy
expansion |
|
Delhi : Sanjay Dhingra, Chairman
and Managing Director, said the company intended to expand its
milk procurement network in Rajasthan, Haryana, Uttar Pradesh
and Punjab and also to increase its chilling centres to 90
from the existing 22.It has six milk processing facilities
with a total capacity of 30 lakh litres a day.Kwality collects
about 28 lakh litres a day, of which about five lakh litres is
directly sourced from farmers and the rest through third party
contractors and vendors.“We plan to increase the share of milk
procured directly from farmers to about 50 per cent of the
total milk sourced in about two to three years,” Dhingra told
reporters. Kwality is in the process of installing equipment
to manufacture products such as cottage cheese, flavoured milk
and yogurt at three of its processing plants. Besides pouched
milk, the company currently markets curd, ghee and skimmed
milk powder (SMP).
|
| Tesco finalises equal joint venture with
Trent Hypermarket |
|
Delhi : British retail major Tesco
on Friday announced that it was forming an equal joint venture
with Trent Ltd., a part of the Tata Group, by picking up 50
per cent stake in Trent Hypermarket Ltd (THL) for about Rs.850
crore. This is further to the earlier announcement regarding
investment by Tesco plc U.K. in THL. In a filing to the Bombay
Stock Exchange (BSE), Trent said both parties have entered
into definitive agreements that envisage that Tesco Overseas
Investments (Tesco Overseas), a wholly-owned subsidiary of
Tesco would buy part of the equity shares held by the company
in THL for about Rs.150 crore and would separately subscribe
to additional THL equity shares for an amount of about Rs.700
crore.
|
| ONGC flaring Gamij gas, losing $4,000 a
day |
|
Maharashtra : India is short of gas
but that hasn’t deterred Oil and Natural Gas Corporation
(ONGC) from flaring natural gas from its marginal gas fields
in Gamij near Kheda, Gujarat.Two ONGC executives told Business
Standard as tenders for the sale of gas hadn’t been finalised,
the company had no option but to flare gas (burn it in open
air). As a result, ONGC was losing $3,800-4,000 daily, they
added. A spokesperson, however, said only a small quantity of
gas was being flared to meet technical requirements.
|
| |
| Tenders
& Assignment |
Air Force Station - Jodhpur Rajasthan
 |
|
Description :Appointment of
Chartered accountant firms for auditing of non public funds at
air force station for the period of three
years.
Last Date : 31/03/2014
Address :Air Officer Commanding Air
Force Station Ratanada,Jodhpur-342011
Phone :0291-2511516
|
| Bharat Bhari Udyog Nigam Limited |
|
Description :Expression of
interest from reputed chartered accountants firm or
consultancy organization for preparation, finalization of
accounts, implementation of merger process/scheme by obtaining
sanction, approval from various authorities as per rules &
companies act till complete.
Last Date
: 03/04/2014
Address :Bharat
Bhari Udyog Nigam Limited( A Government of India Enterprise)
26, Raja Santosh Road, Alipore, Kolkata – 700 027
Phone :033-2479-5535
E-Mail :info@bbunl.com
|
| Housing And Urban Development Corporation
Limited |
|
Description :Appointment of
Ca Firm For Internal Audit Of Loan Accounts And Other
Specified Areas of Hudco For The Year
2014-15.
Last Date : 07/04/2014
Address :Housing And Urban
Development Corporation Limited,India Habitat Centre, Lodhi
Road, New Delhi,
|
| Haryana School Shiksha Pariyojana
Parisad |
|
Description :Appointment Of
Chartered Accountant Firms For Statutory Audit Of Sarva
Shiksha Abhiyan And Rashtriya Madhyamik Shiksha Abhiyan, For
The Financial Year 2013-14
Last Date
: 10/04/2014
Address
:Panchkula - Haryana
|
| |
| Reminders |
| Tenders |
| Food Corporation Of India - Noida Uttar
Pradesh 24/03/2014
|
| Presidency University - Kolkata West
Bengal 25/03/2014
|
| Central Electronics Limited - Sahibabad Uttar
Pradesh 25/03/2014
|
| Jharkhand Agency For Promotion Of Information
Technology 25/03/2014
|
| State Bank Of India 25/03/2014
|
| National Rural Health Mission - State Health
& Family Welfare Society
Sikkim 25/03/2014
|
| Sant Longowal Institute Of Engineering And
Technology 26/03/2014
|
| Heavy Engineering Corporation
Limited 27/03/2014
|
| Income Tax Department - Lucknow Uttar
Pradesh 28/03/2014
|
| State Health Society - Lucknow Uttar
Pradesh 28/03/2014
|
| National Health Mission, Uttar
Pradesh 29/03/2014
|
| |
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