Apollo Commercial Real Estate Finance to begin public offering of 6 million share

NEW YORK — Apollo Commercial Real Estate Finance Inc. said Tuesday it plans a public offering of 6 million common shares.
The company has granted the underwriters a 30-day option to buy up to an additional 900,000 shares to cover excess demand.
Apollo plans to use the net proceeds from the offering for general corporate purposes, including paying back debt, investments in performing commercial first mortgage loans, commercial mortgage-backed securities and other assets.
JP Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. are acting as joint book-running managers for the offering.
Shares in Apollo Commercial Real Estate Finance fell 70 cents, or 4 percent, to $16.70 in aftermarket trading after slipping 13 cents to $17.40 during the regular session.
MANALI
PGDM,1st sem 

New Delhi: The country has fully switched over to cleaner Euro-III and Euro-IV petrol and diesel as of yesterday and well ahead of the October one deadline, Minister of State for Petroleum Jitin Prasada said today.
"We launched Euro-IV grade petrol and diesel in 13 big cities from April 1 and Euro-III grade fuel was to be introduced in the rest of the country in phases by October one. We introduced Euro-III petrol and diesel in North Eastern states (the last of the regions) yesterday," he told reporters here.
With this, the launch of ultra low sulphur and benzene fuel has been completed ahead of schedule, he said. "The roll-over happened without a glitch. There are no disruptions of fuel (supplies) anywhere in the country."
When Euro-IV grade fuel was launched in April, petrol prices were increased by Rs 0.50 a litre and diesel by Rs 0.26 per litre. For introduction of Euro-III grade, petrol prices have been raised by Rs 0.26 per litre and diesel by Rs 0.21 a litre in phases as the fuels were introduced throughout the country.
"There will be no further increase in prices as a result of introduction of Euro-III fuel. Whatever had to be done, has already been done," Prasada said.
He said public sector firms spent over Rs 32,000 crore in upgrading refineries to produce higher quality fuel. "This (introduction of Euro-III and IV grade fuel) will considerably improve the air quality with reduction in emission of pollutants in fuels."
As against the approved scheduled of introducing Euro-III fuel by October one, introduction of higher grade petrol was advanced in 20 states and that of diesel in 23 states.
In the last leg, Bharat Stage-III (the India equivalent of Euro-III) petrol and diesel has been introduced in the seven North Eastern States on September 22, he said.
The government had already introduced BS-IV (the India equivalent of Euro-IV grade) petrol and diesel in all 13 identified cities (NCR of Delhi, Agra, Kanpur, Lucknow, Kolkata, Mumbai, Ahmedabad, Surat, Pune, Solapur, Chennai, Bangalore and Hyderabad) on a single day effective April 1, 2010.
The Auto Fuel Policy had prescribed a road map for introduction of BS-IV and BS-III grades of petrol and diesel (equivalent to Euro ¿III and Euro-IV Petrol and Diesel) in the country.

Name :-  Rakesh prasad
PGDM 1 YEAR
..

hello sir

Korean oil company claims control of UK's Dana

Korea National Oil Corp. claims control of UK's Dana Petroleum with 64 pct of shares

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On Friday September 24, 2010, 3:00 am

LONDON (AP) -- Korea National Oil Corporation says its takeover bid for Dana Petroleum PLC has won support from holders of 64 percent of Dana shares.
KNOC declared its offer unconditional, and said Friday that it intended to delist Dana.
Dana's board had argued that KNOC's offer worth 1.87 billion pounds ($2.9 billion) undervalued the company by at least 26 percent, but the Korean company refused to raise its bid of 1,800 pence per share.
KNOC said that if it gets acceptances from holders of 90 percent of



NAME;- DEEPAK KUMAR JHA   CORSE;-PGDM(1ST)                                                                                                                         

MARKET THIS DIWALI

Mkts this Diwali: Experts' views on stocks/sectors

Published on Thu, Sep 23, 2010 at 19:04   |  Updated at Thu, Sep 23, 2010 at 22:17  |  Source : Moneycontrol.com

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An experts poll conducted by CNBC-TV18 to ascertain whether the stock markets will hit new highs before Diwali has thrown up some very interesting views on stocks, sector outlook, FIIs flow and about flooded IPOs.

Index: Major experts believes benchmark indices would rise to new highs before Diwali.

ALSO READ See what other Experts & Brokerages are saying about Tata Steel See messages about Tata Steel

Stocks Picks: Talking about the laggards that they would prefer to buy now, N Jayakumar, President, Prime Securities and Kirti Doshi, MD, Antique Stock Broking picked Tata Steel and Reliance Infrastructure. They told CNBC-TV18 that they would go with the said stocks.

While, Nilesh Shah, Deputy MD, ICICI Prudential AMC liked Bharti, NTPC and Reliance Industries, Raamdeo Agrawal, co-founder and director of Motilal Oswal said he would like to buy Bharti Airtel and Tata Steel at current levels.

On sectors: A few of them said that there was hype in the consumption stories and indicated that in their opinion FMCG, auto, bank stocks were expensive, they declined to call it a bubble.

FIIs flows: Expert believes that FII inflows would not sustain at current levels, and dollar inflows may see a dip soon.

IPOs: Speaking on the government's disinvestment drive, specifically the Coal India IPO, 83% say the issue will soak up liquidity from the secondary markets.

PRABHAKAR MANI PGDM 1 SEM

TAX EVASION

Tax evasion and its implications

BankBazaar.com August 30, 2010

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Individuals have the freedom to self assess income and pay taxes. That doesn’t mean that if you do not declare a particular stream of income to evade taxes, you will go scot free!

Tax evasion is an illegal activity which entails not filing income tax returns altogether or misrepresenting the tax payable amount. It is different from tax avoidance, which is a legal activity because tax laws are used to reduce the tax amount payable. 
Income tax returns are scrutinized only if income tax authorities feel that there is tax evasion. If they conclude that you have deliberately concealed income to reduce tax liability, you will be penalized.    

What does scrutiny of income mean?

Scrutiny essentially means evaluating the income tax return for its authenticity i.e. the income tax assessing officer will go through the returns filed and various other documents such as bank statement, Form 16 among other things to check if there is any mismatch in tax liability assessed by the individual and the actual tax liability. The income tax officer will request all bank account statements, credit card statements, details of all family members, Form 16 and other relevant documents as part of the scrutiny process.

In most cases, if a return is picked up for scrutiny, a scrutiny notice will be served within a period of one year from the month in which returns have been filed. So if you have filed your returns on 30th July, 2010, then you may get a scrutiny notice anytime on or before 29th July, 2011. The notice is in a standard format and it will contain relevant details of the tax payer and also will contain a date on which the tax payer needs to appear before the concerned income tax officer. 

The tax payer need not attend this meeting in person. He can send across a representative to plead his case which in most cases will be the chartered accountant of the tax payer. 

How is an income tax return picked up for scrutiny?

There are various guidelines/thresholds in place which will determine the selection of income tax return for scrutiny. Some of them include
•    All assessments pertaining to search and seizure cases
•    All returns where deduction claimed under chapter VI-A of the Income tax act is Rs. 25 lakhs or above
•    All returns where refund claimed is Rs. 5 lakh and above
•    Withdrawal of less than Rs. 50,000 p.a. will be picked up for scrutiny. The logic being that you may have access to black money which you may be using for your daily expenses and hence withdrawals from the bank account are minuscule. 
•    In addition, cases will be picked through a Computer Assisted Scrutiny System (CASS) by giving specific instructions. 

What are the implications?

If the income tax officer figures that you have concealed income, a penalty will be levied which can be anywhere up to 3 times the amount of income concealed. So if the tax evaded amount is Rs. 10,000, you can be charged a penalty of anywhere between Rs. 10,000 to Rs. 30,000. 

What should you do to avoid such a situation?

Many salaried individuals believe that since Tax is deducted at source for salary and for other streams of income, when it crosses a particular threshold, their tax liability is nil. That may not necessarily be the case.

There are several other streams of income, where tax may not be deducted at source. For e.g. Post office saving deposit interest, interest on bank savings account, rent received from property among other things. Also if you have switched jobs, it is likely that if you haven’t declared that your old organization has taken into consideration deductions under Section 80 while calculating TDS, the amount of TDS charged by the new organization may be lower as they would consider the full quantum deductible under Section 80, resulting in you paying lower tax. 

Therefore, while filing returns make sure you consider all these factors. It is better to take precautions while filing returns because if your return is picked up for scrutiny because of some anomaly, apart from the financial impact, you will witness a lot of mental stress.

PRABHAKAR MANI PGDM 1 SEM

USE CRACKS RS 45485 CRORE BIZ ON DEBT

PRABHAKAR MANI PGDM 1 SEM