In a relief to industry, the government has accepted a parliamentary panel's recommendation on allowing cartels to opt for the settlement scheme under the Competition Amendment Bill, according to official sources. The proposed Bill seeks to introduce a clause for settlement and commitment that offers any enterprise against which an inquiry has been initiated to file an application for settlement. The Parliamentary Committee on Finance had suggested including cartels in the scope for settlement "as a pragmatic recourse to the whole process".

While movie stars like Akshay Kumar, Amitabh Bachchan and Salman Khan are among the top I-T payers, very few of the wealthiest Indians figure on the list.

The National Financial Reporting Authority (NFRA) has issued guidelines to inspect select audit firms to identify areas and opportunities for improvement in the audit firm's system of quality control, a statement said. "Inspections will consist firm-wide review of audit quality and individual file reviews on test-check basis to evaluate the level of compliance with applicable auditing standards and quality control policy and processes," NFRA said. The selection of the audit firm or the auditor for such inspection by NFRA would be based on assessment of risks in the audit environment.

Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.

In a multi-city protest on Monday, a large number of company secretaries (CS) and chartered accountants (CAs) came together to seek extension of the deadline for annual filing due to glitches in the ministry of corporate affairs (MCA) portal. According to the Companies Act, firms are supposed to submit Form AOC 4 for filing of the balance sheet within 30 days of holding the annual general meeting (AGM). This deadline was over on October 29.

'Health will continue to be at the centre of the government's attention as it underpins economic recovery and our collective well being.'

'Whether the substantial hybrid immunity present in India can protect against severe consequences of the disease remains to be seen.'

In a move to plug gaps in the Insolvency and Bankruptcy Code (IBC), the ministry of corporate affairs (MCA) has proposed robust norms against avoidance transactions, wrongful trading, and inordinate delays via changes to look-back period and fixed timelines for the tribunals to reject or approve plans, among other measures. The MCA has proposed that the IBC should provide the adjudicating authority with 30 days for approving or rejecting a resolution plan under Section 31. If a decision is not made on the resolution plan within that period, the adjudicating authority will record reasons in writing for the same, the ministry has proposed.

'There is no emergency of a third wave that we are rushing for booster doses.'

'We have to ensure the European situation does not occur in India and we don't see a spread like theirs.'

The Union health ministry has directed states to identify all left-out people and ensure everyone gets their Covid jab through initiatives such as workplace vaccination, as part of the government's "Har Ghar Dastak" campaign. Health Minister Mansukh Mandaviya held a review meeting on vaccination progress with Manipur, Meghalaya, Nagaland and Puducherry on Monday. In a tweet, the minister said, "Spoke about augmenting Govt's #HarGharDastak vaccine campaign. Requested help from religious leaders, NGOs & political groups to speed-up vaccination coverage." Health secretary Rajesh Bhushan has asked state officials that workplace vaccination should be organised for targeting people due for their doses.

The government said it had received many representations seeking extension of time citing many difficulties due to the second wave of Covid-19 and the subsequent lockdowns. MCA has asked the registrar of companies to approve the extension of the time limit to hold the AGM.

While some experts believe that a large part of India is still vulnerable to the virus that could trigger a third wave, others feel the country is not likely to be engulfed by another deadly wave unless a new variant emerges.

States should ensure a weekly positivity rate of less than 5 per cent, vaccination coverage of at least 70 per cent among the vulnerable section, and community ownership of Covid-appropriate behaviour, reports Ruchika Chitravanshi.

Hardly anyone wears a mask and most brush off concerns over a pandemic. It is not just scepticism over the existence of the pandemic. A common refrain across villages is the fear of vaccines, reports Ruchika Chitravanshi.

'If you approached it with that level of aggression in 100 days, you would have vaccinated more than half of your country.' 'On a mass scale you will be able to eliminate that wave.'

India is expecting 156 million doses of the vaccine from August to September, reports Ruchika Chitravanshi.

If that outcome were to happen, the Modi government would be responsible for presiding over a self-inflicted national catastrophe.

But the numbers have continued to rise in 23 states including Bihar, Goa, Andhra Pradesh, Tamil Nadu and Kerala.

'The Insolvency and Bankruptcy Code cleans up non-performing assets and puts companies in capable and credible hands.'