| Professional
News |
| INCOME
TAX |
| Income tax department lens on Rs 5
lakh crore share sales by India Inc |
|
Maharashtra : More than
5,000 closely held companies will come under the glare of the
income tax department for transferring funds through
suspicious share-sale deals. According to information compiled
by the tax office, about Rs 5 lakh crore changed hands in past
six years as 26,000-odd unlisted firms belonging to large and
mid-sized corporate houses transferred funds by issuing equity
and preference shares at high premiums.
|
| Swiss agrees to share info on tax
evaders without their approval |
|
Delhi : India’s long-time
demand for the details of secret bank accounts of its
taxpayers in Switzerland may be met soon. After Swiss
authorities enact a new law in this regard by July, they will
share such information, without the permission of account
holders. This, however, will provide only partial relief to
the Indian government, as Switzerland hasn’t yet relented to
providing information on stolen data pertaining to HSBC
Geneva.
|
| COMPANY
LAW |
| Startups wary of companies law; new
rules may hit fundraising plans and appointment of
directors |
|
Karnataka : More red tape
awaits Indian startups as regulators tighten processes
required to raise new investment or add new directors on the
board of new ventures. These strictures, which are a part of
the new Companies Act 2013, are likely to delay investments,
increase the cost of compliance and prove to be a hindrance in
registering a new company said several experts who have
studied the new regulations.
|
| RBI |
| RBI signals it may not let rupee rise
above 60 a dollar |
|
Maharashtra : The Reserve
Bank of India signalled that it will not let the rupee
appreciate beyond 60 to the dollar as it shifts to consumer
prices as a basis for calculating the real effective exchange
rate or REER.The central bank has released a new measure for
REER based on the consumer price index or CPI. REER is the
inflation-adjusted value of the currency factoring in
inflation differentials among trading partners.
|
| RBI might not push bond index
plan |
|
Maharashtra : The Reserve
Bank of India (RBI)’s earlier plan for including Indian bonds
in a global bond index might have been put on the back burner
due to strong foreign exchange reserves. According to the
Street, the central bank might decide to again pursue the idea
in a scenario where there is better domestic stability. For,
such a step could lead to more volatile flows in the debt
segment, a concern RBI is trying to mitigate.
|
| Misc. Corporate Laws
& Other Commercial Policies |
| Reliance Industries asks Oil Ministry
to announce new gas price on May 13 |
|
Delhi : Reliance Industries
has asked Oil Ministry to announce a new natural gas price
immediately after polling ends on May 12, saying this was
necessary to avoid irreparable loss to all parties, including
the government. While a new formula for pricing of all
domestically produced natural gas was notified on January 10
and published in Gazettee on January 17,
|
| Finance & Money
Markets |
| Government to United Bank of India:
Focus on recovery of sticky loans |
|
West Bengal : The government
has told the United Bank of India to keep focusing on recovery
of sticky loans for another few quarters to clean up its
balance sheet which has been strained by bad assets and record
losses. The government, which owns 88% stake in the bank, told
this last week after it reviewed UBI's performance for the
quarter to March, before the bank's board is set to meet on
May 5 to consider the results.
|
| Shares of FMCG companies may hit
roadblock due to weak monsoon; El Nino may add to
worries |
|
Maharashtra : The shares of
consumer goods companies have fallen out of investors' favour
due to concerns over slowdown in consumption and lofty
valuations. Now, analysts warn the Indian Meteorological
Department's (IMD) warning of sub-normal monsoon may be the
final nail in the coffin for these stocks.Rural India accounts
for over half of consumer goods sector's revenues.
|
| Commodities |
| Behind copper’s current
surge… |
|
Tamil Nadu : Copper prices
are on the upswing on the back of the Chinese State Reserve
Bureau buying 200,000 tonnes of the metal in the last couple
of weeks.After having slipped to a four-year low of $6,321 a
tonne on March 19, copper prices have bounced back, gaining
over seven per cent since then. On Tuesday, copper for
delivery in July was quoted at $6,745.50. In the domestic
futures market, copper hasn’t seen that much of a surge,
rising to Rs. 419.50 a kg from Rs. 403 during the same
period.
|
| Gold price dips back below $1,300/oz
ahead of data onslaught |
|
Delhi : The gold price
dipped lower again on Tuesday morning, failing to garner
support from the continuing crisis in Ukraine, with investors
also content to remain on the sidelines ahead of an FOMC
statement and US jobs data later this week Spot gold was last
at $1,289.25/1,290 per ounce, down $6.50 on Monday’s close and
not far from intraday lows close to $1,286.
|
| INTERNATIONAL
BUSINESS |
| Megadeals drive torrid pace for
M&A activity, hits $1 trillion in four
months |
|
The value of corporate takeovers
announced in 2014 hit the $1 trillion mark Monday, reaching
that level at the fastest pace in seven years. That threshold
was crossed 54 days earlier than in 2013, after more than $300
billion in purchases were announced by companies from Eli
Lilly and Co. to Valeant Pharmaceuticals International Inc. to
Alibaba Group Holding Ltd.
|
| Banking |
| Non-CTS cheques may face further
clearance delay from May 1 |
|
Delhi : If your cheques are
not CTS 2010 complaint, there can realisation delays, as they
will be cleared at less frequent intervals.With banks
continuing to accept old format cheques, customers who are not
familiar with the CTS 2010 (Cheque Truncation System) cheques
seem not to worry much about surrendering their old cheque
books.From May 1, the frequency of clearing such instruments
would be reduced from the present three sessions a week to
two.
|
| Reminders |
| Tenders |
| Housing And Urban Development Corporation
Limited 01/05/2014
|
| Department Of Health Services - Lakshadweep
05/05/2014
|
| Urban Administration And Development - Jabalpur -
Madhya Pradesh 05/05/2014
|
| Urban Administration And Development - Rewa -
Madhya Pradesh 05/05/2014
|
| Urban Administration And Development - Gwalior -
Madhya Pradesh 05/05/2014
|
| Urban Administration And
Development 05/05/2014
|
| Panchayat And Rural Development Department -
Kolkata West Bengal 05/05/2014
|
| Urban Administration And Development - Indore -
Madhya Pradesh 05/05/2014
|
| Urban Administration And Development - Sagar -
Madhya Pradesh 05/05/2014
|
| Army Public School 05/05/2014
|
| Urban Administration And Development - Bhopal -
Madhya Pradesh 05/05/2014
|
| Urban Administration And Development - Ujjain -
Madhya Pradesh 05/05/2014
|
| Punjab Land Records
Society 06/05/2014
|
| National Institute Of Fashion
Technology 06/05/2014
|
| |
| Notifications
& Circulars |
| SEBI |
| CIR/IMD/FIIC/ 09/
2014 (Maharashtra) 28/04/2014
|
| Infrastructure facilities and submission of periodic
reports |
| RBI |
| Notification No.
RBI/2013-14/575 (Delhi) 28/04/2014
|
| Usage of Transaction Type Code (TTC) in RTGS |
| Notification No.
RBI/2013-14/576 (Delhi) 28/04/2014
|
| Auction of Government of India Dated Securities |
| |
No comments