{"id":747,"date":"2015-12-08T12:41:34","date_gmt":"2015-12-08T07:11:34","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=747"},"modified":"2021-12-16T15:29:32","modified_gmt":"2021-12-16T09:59:32","slug":"corporate-other-laws-update-december-6-2015","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/","title":{"rendered":"corporate &#038; other laws update december"},"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-69e5951388609\" 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-69e5951388609\"  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-other-laws-update-december-6-2015\/#Corporate_Other_Laws_Update_December\" title=\"Corporate &amp; Other Laws Update December\u00a0\">Corporate &amp; Other Laws Update December\u00a0<\/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-other-laws-update-december-6-2015\/#Finance_Ministry_to_clean-up_trade_transfer_pricing_norms_to_make_doing_business_easy\" title=\"Finance Ministry to clean-up trade transfer pricing norms to make doing business easy\">Finance Ministry to clean-up trade transfer pricing norms to make doing business easy<\/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-other-laws-update-december-6-2015\/#Prospects_brighten_for_key_tax_reform_Arvind_Subramanian_panel_may_suggest_18_GST_rate\" title=\"Prospects brighten for key tax reform; Arvind Subramanian panel may suggest 18% GST rate\">Prospects brighten for key tax reform; Arvind Subramanian panel may suggest 18% GST rate<\/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-other-laws-update-december-6-2015\/#SEBI_Bangladesh_SEC_sign_pact\" title=\"SEBI, Bangladesh SEC sign pact\">SEBI, Bangladesh SEC sign pact<\/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-other-laws-update-december-6-2015\/#Investment_via_P-Notes_rises_to_Rs_258_lakh_cr_in_Oct\" title=\"Investment via P-Notes rises to Rs 2.58 lakh cr in Oct\">Investment via P-Notes rises to Rs 2.58 lakh cr in Oct<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#Supply_surge_robs_cardamoms_flavour\" title=\"Supply surge robs cardamom\u2019s flavour\">Supply surge robs cardamom\u2019s flavour<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#AstraZeneca_sells_US_drug_rights_to_Perrigo_for_380_million\" title=\"AstraZeneca sells U.S. drug rights to Perrigo for $380 million\">AstraZeneca sells U.S. drug rights to Perrigo for $380 million<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#IDBI_Bank_becomes_first_commercial_state-owned_bank_to_raise_350_million_via_selling_green_bonds\" title=\"IDBI Bank becomes first commercial state-owned bank to raise $350 million via selling green bonds\u00a0\">IDBI Bank becomes first commercial state-owned bank to raise $350 million via selling green bonds\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#Tata_Steel_likely_to_raise_15_billion_to_refinance_debt\" title=\"Tata Steel likely to raise $1.5 billion to refinance debt\">Tata Steel likely to raise $1.5 billion to refinance debt<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#The_market_mood_remains_bearish_for_December\" title=\"The market mood remains bearish for December\u00a0\">The market mood remains bearish for December\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#Delhis_private_discoms_BSES_Tata_Power_want_to_join_debt-recast_scheme\" title=\"Delhi\u2019s private discoms BSES, Tata Power want to join debt-recast scheme\u00a0\">Delhi\u2019s private discoms BSES, Tata Power want to join debt-recast scheme\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#Government_to_set_up_new_agency_to_probe_corporate_accounting_frauds\" title=\"Government to set up new agency to probe corporate accounting frauds\">Government to set up new agency to probe corporate accounting frauds<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#Indias_oil_import_bill_likely_to_dip_35_to_Rs_473_lakh_crore_in_FY16_Indias_crude_oil_import_bill_is_likely_to_dip_by_35_per_cent_to_73_billion_this_fiscal_as_global_energy_prices_slumped_on_weak_demandIndia_had_imported_18943_million_tons_of_crude_oil_in_2014-15_for_Rs_687_lakh_crore_This_fiscal_the_imports_are_projected_at_18823_million_tons_almost_the_same_level_as_last_year\" title=\"India&#8217;s oil import bill likely to dip 35% to Rs 4.73 lakh crore in FY&#8217;16 \nIndia&#8217;s crude oil import bill is likely to dip by 35 per cent to $73 billion this fiscal as global energy prices slumped on weak demand.India had imported 189.43 million tons of crude oil in 2014-15 for Rs 6.87 lakh crore. This fiscal the imports are projected at 188.23 million tons, almost the same level as last year.\">India&#8217;s oil import bill likely to dip 35% to Rs 4.73 lakh crore in FY&#8217;16 \nIndia&#8217;s crude oil import bill is likely to dip by 35 per cent to $73 billion this fiscal as global energy prices slumped on weak demand.India had imported 189.43 million tons of crude oil in 2014-15 for Rs 6.87 lakh crore. This fiscal the imports are projected at 188.23 million tons, almost the same level as last year.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#SEBI_has_extended_the_date_from_30_June_to_15_Sept_2020_for_the_filing_of_financial_results\" title=\"SEBI has extended the date from 30 June to 15 Sept 2020 for the filing of financial results\">SEBI has extended the date from 30 June to 15 Sept 2020 for the filing of financial results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/corporate-other-laws-update-december-6-2015\/#Amendments_in_SEBI_-Listing_Obligations_and_Disclosure_Requirements_Regulations_2015\" title=\"Amendments in SEBI -Listing Obligations and Disclosure Requirements Regulations 2015\">Amendments in SEBI -Listing Obligations and Disclosure Requirements Regulations 2015<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><\/h2>\n<h2 style=\"text-align: justify;\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Untitled266.png\" rel=\"attachment wp-att-1559\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1559\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Untitled266-300x141.png\" alt=\"Untitled266\" width=\"591\" height=\"278\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Untitled266-300x141.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Untitled266.png 661w\" sizes=\"(max-width: 591px) 100vw, 591px\" \/><\/a><\/h2>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Corporate_Other_Laws_Update_December\"><\/span><span style=\"color: #000080;\"><strong>Corporate &amp; Other Laws Update December\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Finance_Ministry_to_clean-up_trade_transfer_pricing_norms_to_make_doing_business_easy\"><\/span><span style=\"color: #33cccc;\"><strong>Finance Ministry to clean-up trade transfer pricing norms to make doing business easy<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">India proposes a major clean-up of decade-and-a-half old rules that govern the prices of imports by related parties &#8211; such as arms of multinationals from their parent &#8211; in an attempt to reduce delays and disputes and make it easier to do business.<\/p>\n<p style=\"text-align: justify;\">The finance ministry is not just looking at changing the rules but also the process itself, which is riddled with delays and cumbersome paperwork.<\/p>\n<p style=\"text-align: justify;\"><strong>Source: Economic Time<\/strong><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Prospects_brighten_for_key_tax_reform_Arvind_Subramanian_panel_may_suggest_18_GST_rate\"><\/span><span style=\"color: #33cccc;\"><strong>Prospects brighten for key tax reform; Arvind Subramanian panel may suggest 18% GST rate<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">A key panel on goods and services tax is likely to recommend a revenue-neutral rate of about 18 per cent. The group, headed by Chief Economic Adviser Arvind Subramanian, has zeroed in on the rate after considering various scenarios, brightening the chances for this important reform as the low rate should be acceptable to everyone.&#8221;It has worked out to about 18 per cent,&#8221; a government official privy to discussions said.<\/p>\n<p style=\"text-align: justify;\"><strong>Source: Economic Time<\/strong><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"SEBI_Bangladesh_SEC_sign_pact\"><\/span><span style=\"color: #33cccc;\"><strong>SEBI, Bangladesh SEC sign pact<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Equities and commodities market regulator <a href=\"https:\/\/carajput.com\/blog\/category\/sebi\/\">SEBI<\/a> and the Bangladesh Securities and Exchange Commission (BSEC) signed a memorandum of understanding on bilateral cooperation and technical assistance. The MoU seeks to promote further development of economic links and cooperation between the two and aims at enhancing investor protection and creating conditions for effective development of securities markets in both countries.<\/p>\n<p style=\"text-align: justify;\">SEBI has been actively engaging with the regulators in the SAARC region. The regulator has already signed 20 bilateral MoUs with other countries.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Investment_via_P-Notes_rises_to_Rs_258_lakh_cr_in_Oct\"><\/span><span style=\"color: #33cccc;\"><strong>Investment via P-Notes rises to Rs 2.58 lakh cr in Oct<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Investment through Participatory Notes (P\u2014Notes) into India\u2019s capital market grew to over Rs. 2.58 lakh crore (about $39 billion) at the end of October. P\u2014Notes, mostly used by overseas HNIs (High Net Worth Individuals), hedge funds and other foreign institutions, allow such investors to invest in Indian markets through registered foreign institutional investors (FIIs).<\/p>\n<p style=\"text-align: justify;\">This saves time and cost for them, but the flip side is that the route can also be used for round\u2014tripping of black money. According to SEBI data, total value of P\u2014Notes investment in Indian markets (equity, debt and derivatives) increased to Rs. 2, 58,287 crore at October\u2014end, from Rs. 2,53, 875 crore in the previous month.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Supply_surge_robs_cardamoms_flavour\"><\/span><span style=\"color: #33cccc;\"><strong>Supply surge robs cardamom\u2019s flavour<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Cardamom lost flavour last week as supply outstripped demand at auctions in Kerala and Tamil Nadu. Arrivals surge continued and hit around 900 tonnes. Markets were finding it difficult to absorb the supplies, PC Punnoose, General Manager, CPMC, told Business Line.<\/p>\n<p style=\"text-align: justify;\">Prices declined by ?20-30 a kg, he said. Some dealers in Bodinayakannur said growers themselves should regulate the release of cardamom. Upcountry dealers were buying but not aggressively. Exporters, however, bought an estimated 100 tonnes last week. The individual auction average last week fell and was moved between Rs. 575 and Rs. 605 a kg.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"AstraZeneca_sells_US_drug_rights_to_Perrigo_for_380_million\"><\/span><span style=\"color: #33cccc;\"><strong>AstraZeneca sells U.S. drug rights to Perrigo for $380 million<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">AstraZeneca (AZN.L) said on Monday it had finalized plans to divest its Crohn\u2019s disease drug Entocort by selling U.S. rights to the medicine to Perrigo (PRGO.N) for $380 million (250 million pounds). The move is part of an &#8220;externalization&#8221; drive by the British drugmaker, which is selling non-core products to help it fill a short-term revenue gap caused by older products going off product, while investing in a pipeline of new medicines.<\/p>\n<p style=\"text-align: justify;\">Entocort had U.S. sales of $89 million in the first nine months of 2015. The deal, which is expected to complete by the end of 2015, follows AstraZeneca&#8217;s sale of rights to Entocort outside the United States in July to Tillotts Pharma, part of the Zeria Group.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"IDBI_Bank_becomes_first_commercial_state-owned_bank_to_raise_350_million_via_selling_green_bonds\"><\/span><span style=\"color: #33cccc;\"><strong>IDBI Bank becomes first commercial state-owned bank to raise $350 million via selling green bonds\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">IDBI BankBSE -1.97 % has become the first commercial state-owned bank to raise $350 million via selling green bonds, where proceeds are used for clean energy projects. &#8220;We have got huge oversubscription more than $1.10 billion,&#8221; said Kishor Kharat, managing director &amp; chief executive director of IDBI Bank.<\/p>\n<p style=\"text-align: justify;\">&#8220;We have a pipeline of more than $1 billion clean energy projects requiring credit lines. In futures, we may sell more such bonds depending on that project status.&#8221; IDBI Bank had to decline the oversubscription in excess of $350 million, which the lender mopped up from 60-70 investors.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Tata_Steel_likely_to_raise_15_billion_to_refinance_debt\"><\/span><span style=\"color: #33cccc;\"><strong>Tata Steel likely to raise $1.5 billion to refinance debt<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Tata Steel is looking to raise at least $1.5 billion to refinance its bloated debt and reduce interest cost, several people aware of the development told ET.The fund size could go up to as high as $3 billion.<\/p>\n<p style=\"text-align: justify;\">The proposed mobilisation done through the company&#8217;s Singapore subsidiary would primarily be for Tata Steel Europe, earlier known as Corus, while balance sheet debt of others may also be refinanced.<\/p>\n<p style=\"text-align: justify;\"><strong>Source: Economic Time<\/strong><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"The_market_mood_remains_bearish_for_December\"><\/span><span style=\"color: #33cccc;\"><strong>The market mood remains bearish for December\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">The Nifty rollover figure for November, as of now, is decent at around 53 per cent when compared to 41 percent on the same day last month. FII&#8217;s build-up in Index futures in the last week is also notable and is suggestive towards a hedging approach.<\/p>\n<p style=\"text-align: justify;\">However, except for this period, the exchange traded values of equity derivatives had shown a dip for most part of the month, presumably due to the lot size increase that became effective since late October. The option picture for the November series in Nifty is showing profit booking in most of the Out-of-the money Call and Put options.<\/p>\n<p><strong>Source: Economic Time<\/strong><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Delhis_private_discoms_BSES_Tata_Power_want_to_join_debt-recast_scheme\"><\/span><span style=\"color: #33cccc;\"><strong>Delhi\u2019s private discoms BSES, Tata Power want to join debt-recast scheme\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Tata Power Delhi Distribution Company has written to Delhi Power Minister Satyendar Jain, seeking permission to issue tax-free bonds to replace the existing revenue gap loans with cheaper funds.<\/p>\n<p style=\"text-align: justify;\">The Centre&#8217;s Ujwal Discom Assurance Yojana (UDAY) aims to wipe out losses of discoms with incentives and penalties, but it has been offered only to state entities.<\/p>\n<p><strong>Source: Economic Time<\/strong><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Government_to_set_up_new_agency_to_probe_corporate_accounting_frauds\"><\/span><span style=\"color: #33cccc;\"><a style=\"color: #33cccc;\" href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/policy\/government-to-set-up-new-agency-to-probe-corporate-accounting-frauds\/articleshow\/49927368.cms\"><strong>Government to set up new agency to probe corporate accounting frauds<\/strong><\/a><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">The government will soon set up a specialised agency to investigate large corporate accounting frauds. It is keen to establish a robust mechanism for faster inquiries into scams such as the one at Satyam Computer Services BSE 0.00 %, which overstated earnings for several years under a previous management.The proposed agency is likely to examine accounting frauds of certain classes of listed companies or those of Rs 500 crore and more.<\/p>\n<p style=\"text-align: justify;\"><strong>Source:\u00a0<\/strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/policy\/government-to-set-up-new-agency-to-probe-corporate-accounting-frauds\/articleshow\/49927368.cms\"><strong>https:\/\/economictimes.indiatimes.com\/news\/economy\/ policy\/government-to-set-up-new-agency-to-probe-corporate-accounting-frauds\/articleshow\/49927368.cms<\/strong><\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #33cccc;\"><a style=\"color: #33cccc;\" href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/agriculture\/government-may-import-more-pulses-to-check-prices\/articleshow\/49921500.cms\"><strong>Government may import more pulses to check prices<\/strong><\/a><\/span><br \/>\nExpecting a further increase in the supply-demand gap of pulses, the government is considering importing more lentils to check prices, which are still ruling as high as Rs 180 per kg.<\/p>\n<p style=\"text-align: justify;\">So far, state-owned MMTC has imported 5,000 tonnes of tur on behalf of the government. The stock has been given to some state governments including Delhi at a subsided rate for further distribution in the open market.<\/p>\n<p style=\"text-align: justify;\"><strong>Source: Economic Time\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #33cccc;\"><strong>Warburg Pincus joins race for MedPlus; General Atlantic also in fray\u00a0<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Global private equity fund Warburg Pincus has joined the race to acquire a controlling stake in India&#8217;s second-largest retail pharmacy chain MedPlus. Warburg is competing with General Atlantic, a global peer, and rival, for buying the company. MedPlus, 69 percent owned by a clutch of PE investors, is being valued at $350-400 million, said four people aware of the matter.<\/p>\n<p style=\"text-align: justify;\">In 2011, PE investors Mount Kellett Capital Management, TVS Capital, and India Venture Advisors bought a 69 percent stake in MedPlus for Rs 410 crore ($90 million) from Bahrain-based Arcapita Bank.<\/p>\n<p style=\"text-align: justify;\">The rest is held by promoter Madhukar Gangadi and his family. Going by this, the three private equity investors are expected to make more than two-and-a-half times their investment in 2011.<\/p>\n<p><strong>Source: Economic Time\u00a0<\/strong><\/p>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Indias_oil_import_bill_likely_to_dip_35_to_Rs_473_lakh_crore_in_FY16_Indias_crude_oil_import_bill_is_likely_to_dip_by_35_per_cent_to_73_billion_this_fiscal_as_global_energy_prices_slumped_on_weak_demandIndia_had_imported_18943_million_tons_of_crude_oil_in_2014-15_for_Rs_687_lakh_crore_This_fiscal_the_imports_are_projected_at_18823_million_tons_almost_the_same_level_as_last_year\"><\/span><span style=\"color: #33cccc;\"><strong>India&#8217;s oil import bill likely to dip 35% to Rs 4.73 lakh crore in FY&#8217;16<\/strong><\/span><br \/>\nIndia&#8217;s crude oil import bill is likely to dip by 35 per cent to $73 billion this fiscal as global energy prices slumped on weak demand.India had imported 189.43 million tons of crude oil in 2014-15 for Rs 6.87 lakh crore. This fiscal the imports are projected at 188.23 million tons, almost the same level as last year.<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><strong>Source: Economic Time<\/strong><\/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<p>For details refer to the circular:<\/p>\n<h4><span class=\"ez-toc-section\" id=\"SEBI_has_extended_the_date_from_30_June_to_15_Sept_2020_for_the_filing_of_financial_results\"><\/span><strong><a href=\"https:\/\/carajput.com\/press-releases\/sebi-has-extended-the-date-from-30-june-to-15-sept-2020-for-filing-of-financial-results.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">SEBI has extended the date from 30 June to 15 Sept 2020 for the filing of financial results<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Amendments_in_SEBI_-Listing_Obligations_and_Disclosure_Requirements_Regulations_2015\"><\/span><strong><a href=\"https:\/\/carajput.com\/archives\/amendments-in-sebi-listing-obligations-and-disclosure-requirements-regulations-2015.pdf\">Amendments in SEBI -Listing Obligations and Disclosure Requirements Regulations 2015<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Corporate &amp; Other Laws Update December\u00a0 Finance Ministry to clean-up trade transfer pricing norms to make doing business easy India proposes a major clean-up of decade-and-a-half old rules that govern the prices of imports by related parties &#8211; such as arms of multinationals from their parent &#8211; in an attempt to reduce delays and disputes &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,4],"tags":[162,5,9086,3953],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/747"}],"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=747"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/747\/revisions"}],"predecessor-version":[{"id":19952,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/747\/revisions\/19952"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}