{"id":564,"date":"2015-11-03T09:09:23","date_gmt":"2015-11-03T03:39:23","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=564"},"modified":"2021-12-15T15:26:51","modified_gmt":"2021-12-15T09:56:51","slug":"corporate-update-for-28th-october-2015","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-update-for-28th-october-2015\/","title":{"rendered":"CORPORATE UPDATE FOR 28TH OCTOBER 2015"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e177cde160f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e177cde160f\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-28th-october-2015\/#CORPORATE_UPDATE_FOR_28th_OCTOBER_2015\" title=\"CORPORATE UPDATE FOR 28th\u00a0OCTOBER 2015\">CORPORATE UPDATE FOR 28th\u00a0OCTOBER 2015<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-28th-october-2015\/#DIRECT_TAXES\" title=\"DIRECT TAXES\u00a0 \u00a0\">DIRECT TAXES\u00a0 \u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-28th-october-2015\/#INCOME_TAX\" title=\"INCOME TAX\">INCOME TAX<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-28th-october-2015\/#FINANCIAL_MANAGEMENT\" title=\"FINANCIAL MANAGEMENT\u00a0\u00a0\">FINANCIAL MANAGEMENT\u00a0\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-28th-october-2015\/#MISC_BANKING\" title=\"MISC.\u00a0\u00a0BANKING\">MISC.\u00a0\u00a0BANKING<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-update-for-28th-october-2015\/#RBI\" title=\"RBI\">RBI<\/a><\/li><\/ul><\/nav><\/div>\n<h2><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled270.png\" rel=\"attachment wp-att-1705\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1705\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled270-300x161.png\" alt=\"Untitled270\" width=\"786\" height=\"422\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled270-300x161.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/11\/Untitled270.png 659w\" sizes=\"(max-width: 786px) 100vw, 786px\" \/><\/a><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"CORPORATE_UPDATE_FOR_28th_OCTOBER_2015\"><\/span><span style=\"color: #000080;\"><strong>CORPORATE UPDATE FOR 28th\u00a0OCTOBER 2015<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"DIRECT_TAXES\"><\/span><span style=\"color: #3366ff;\"><strong>DIRECT TAXES\u00a0 \u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #808000;\"><strong>India to apply 5% withholding tax to offshore rupee bonds<\/strong><\/span><br \/>\n<strong><em>Oct 28, 2015<\/em><\/strong><br \/>\nIndia will apply a 5 percent withholding tax to offshore rupee bonds for foreign investors, in line with the rate applied to domestic debt, Manoj Joshi, joint secretary at the country&#8217;s finance ministry, told reporters on Tuesday. The clarification comes amid some confusion about whether the withholding tax also applied to offshore debt. India had cut the tax for debt investments to the current rate from 20 percent in 2013, which will remain in effect until July 2017.<\/p>\n<p style=\"text-align: justify;\"><strong>Source:<\/strong><span style=\"color: #3366ff;\">https:\/\/economictimes.indiatimes.com\/markets\/bonds\/india-to-apply-5-withholding-tax-to-offshore-rupee-bonds-official\/articleshow\/49551117.cms<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INCOME_TAX\"><\/span><span style=\"color: #3366ff;\"><strong>INCOME TAX<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/economictimes.indiatimes.com\/news\/politics-and-nation\/supreme-court-ruling-gives-clarity-on-carrying-forward-tax-losses\/articleshow\/49561126.cms\"><strong><span style=\"color: #808000;\">Supreme Court ruling gives clarity on carrying forward tax losses\u00a0<\/span><\/strong><\/a><br \/>\n<strong><em>Oct 28, 2015<\/em><\/strong><br \/>\nIn what could benefit companies making acquisitions and internal restructuring, a recent Supreme Court judgement has given clarity on whether tax losses could be allowed in the event of a change of shareholding beyond 51%. A problem that many Indian companies faced was the uncertainty on whether the buyer in a transaction \u2014 acquisition or restructuring of a group company \u2014 can add tax losses.<\/p>\n<p style=\"text-align: justify;\"><strong>Source:<\/strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/economictimes.indiatimes.com\/news\/politics-and-nation\/supreme-court-ruling-gives-clarity-on-carrying-forward-tax-losses\/articleshow\/49561126.cms\"><strong>https:\/\/economictimes.indiatimes.com\/news\/politics-and-nation\/supreme-court-ruling-gives-clarity-on-carrying-forward-tax-losses\/articleshow\/49561126.cms<\/strong><\/a><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FINANCIAL_MANAGEMENT\"><\/span><span style=\"color: #3366ff;\"><strong>FINANCIAL MANAGEMENT\u00a0\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #808000;\"><a style=\"color: #808000;\" href=\"https:\/\/www.thehindubusinessline.com\/markets\/renew-power-raises-265-million-of-equity-funding\/article7809466.ece\"><strong>ADIA leads $265-m funding in ReNew Power<\/strong><\/a><\/span><br \/>\n<strong><em>Oct 28, 2015<\/em><\/strong><br \/>\nSumant Sinha-promoted ReNew Power Ventures Pvt Ltd has raised $265 million of fresh equity funding from investors. The latest round of fund raising was led by Abu Dhabi Investment Authority (ADIA). ADIA has invested $200 million to join the list of ReNew Power&#8217;s investors.<\/p>\n<p style=\"text-align: justify;\">Existing investors Goldman Sachs and Global Environment Fund have invested $50 million and $15 million, respectively, in the current round of funding.After the latest round of funding, the company has raised a total of $655 million of equity.<\/p>\n<p style=\"text-align: justify;\">Of this, the largest is from Goldman Sachs with $370 million, ADIA will be the next largest investor with $200 million, Asian Development Bank has $50 million invested, while Global Environment Fund has invested $35 million.<\/p>\n<p style=\"text-align: justify;\"><strong>Source:<\/strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.thehindubusinessline.com\/markets\/renew-power-raises-265-million-of-equity-funding\/article7809466.ece\"><strong>https:\/\/www.thehindubusinessline.com\/markets\/renew-power-raises-265-million-of-equity-funding\/article7809466.ece<\/strong><\/a><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"MISC_BANKING\"><\/span><span style=\"color: #3366ff;\"><strong>MISC.\u00a0\u00a0BANKING<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #808000;\"><a style=\"color: #808000;\" href=\"https:\/\/www.business-standard.com\/article\/companies\/axis-bank-net-profit-up-19-115102700781_1.html\"><strong>Axis Bank net profit up 19%<\/strong><\/a><\/span><br \/>\n<strong><em>Oct 28, 2015<\/em><\/strong><br \/>\nAxis Bank, India&#8217;s third largest private sector lender, reported a 19 per cent rise in net profit to Rs 1,916 crore for the July-September quarter against Rs 1,610 crore in the same quarter of the previous financial year. The net profit inched up on the back of higher net interest income and reduction in provisions.The net interest income, difference between interest earned and expended, increased 15 per cent to Rs 4,062 crore in the quarter ended September.<\/p>\n<p style=\"text-align: justify;\"><strong>Source:<\/strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.business-standard.com\/article\/companies\/axis-bank-net-profit-up-19-115102700781_1.html\"><strong>https:\/\/www.businessstandard.com\/article\/companies\/axis-bank-net-profit-up-19-115102700781_1.html<\/strong><\/a><\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"RBI\"><\/span><span style=\"color: #3366ff;\"><strong>RBI<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #808000;\"><a style=\"color: #808000;\" href=\"https:\/\/www.business-standard.com\/article\/finance\/short-term-corp-bonds-rbi-hints-at-re-looking-at-ban-on-fiis-115102701178_1.html\"><strong>Short-term corp bonds: RBI hints at re-looking at ban on FIIs<\/strong><\/a><\/span><br \/>\n<strong><em>Oct 28, 2015<\/em><\/strong><br \/>\nRBI Deputy Governor H R Khan on Tuesday said the central bank could &#8220;take a bit of a chance&#8221; by allowing foreign investors to buy corporate debt of under-three-year residual maturity as its works towards deepening the nascent corporate debt market.&#8221;The present curb is only on residual majority (of short term corporate bonds) and we will look at whether some of the areas we can see because corporate debt is slightly different from G-secs, so we can take a little bit of chance and see which are the areas where we can do it,&#8221; he said addressing a capital market summit organised by Ficci here.<\/p>\n<p><strong>Source:\u00a0<\/strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.business-standard.com\/article\/finance\/short-term-corp-bonds-rbi-hints-at-re-looking-at-ban-on-fiis-115102701178_1.html\"><strong>https:\/\/www.businessstandard.com\/article\/finance\/short-term-corp-bonds-rbi-hints-at-re-looking-at-ban-on-fiis-115102701178_1.html<\/strong><\/a><\/span><\/p>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact:\u00a0<a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0\u00a0or call at 9555555480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE UPDATE FOR 28th\u00a0OCTOBER 2015 DIRECT TAXES\u00a0 \u00a0 India to apply 5% withholding tax to offshore rupee bonds Oct 28, 2015 India will apply a 5 percent withholding tax to offshore rupee bonds for foreign investors, in line with the rate applied to domestic debt, Manoj Joshi, joint secretary at the country&#8217;s finance ministry, told &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,11],"tags":[3654,3655,3653],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/564"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=564"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/564\/revisions"}],"predecessor-version":[{"id":19873,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/564\/revisions\/19873"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}