All stories by Ruchika Chitravanshi
IEPFA reaches out to top hundred firms to ease investor claims' processRediff.com7 days ago
The investor education and protection fund authority (IEPFA) has reached out to top hundred companies to reduce the documentation required for individuals trying to claim their shares, according to a senior government official. Recently, the Supreme Court-appointed expert panel on the Adani-Hindenburg case had raised issues such as capacity constraints faced by IEPFA in clearing these claims which are over Rs 5,000 crore. "Our immediate priority is to ensure that claims of those investors whose application was approved a year ago but the transfer has not gone through yet are settled first.
Solution To Real Estate Insolvencies SoonRediff.com18 May 2023
'In real estate project insolvency, no one size can fit all.'
Ravneet Kaur: An IAS officer with varied experienceRediff.com17 May 2023
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
Crowdsourcing ideas: IBBI seeks public views on IBC regulations till dateRediff.com13 May 2023
In what could result in a complete overhaul of the Insolvency and Bankruptcy Code (IBC), the insolvency regulator has sought public comments on the regulations it notified under the code to date. The Insolvency and Bankruptcy Board of India (IBBI) has given a window of eight months ending December 31 to all stakeholders to share their views on its regulations. IBBI has called the exercise "crowdsourcing of ideas".
Guidelines for NCLT to deal with bankruptcy cases in the worksRediff.com9 May 2023
The government is planning to draft rules for the National Company Law Tribunal (NCLT) to deal with Insolvency and Bankruptcy (IBC) cases, according to official sources. The Ministry of Corporate Affairs (MCA) is also looking to fill all vacant posts at various NCLT Benches by August and put in place an IT-enabled system that would use artificial intelligence (AI) for case management. The NCLT, adjudicating authority for matters related to company affairs, was constituted before the IBC came into effect.
MCA portal sees 20 times increase in number of authenticated usersRediff.com22 Apr 2023
A key feature of the new version is to identify the people transacting on its portal by linking each user ID with the person's permanent account number (PAN), followed by a two-factor authentication through mobiles and email IDs. Those who cannot complete the KYC requirements cannot use the portal.
'Every crack will be used by the virus to spread'Rediff.com7 Apr 2023
'Who are the people who are dying?' 'What is their profile?' 'We need to know these things.' 'We do not take health issues seriously.'
Mega Push For Modi's Jal Jeevan MissionRediff.com4 Mar 2023
'The first two years of the Jal Jeevan Mission were wasted in UP.' 'But after a push from the Centre, work has picked up pace in the state.'
New competition law likely to open up settlement route for cartelsRediff.com30 Jan 2023
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".
Are Wealthy Indians Paying Less Tax?Rediff.com25 Jan 2023
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.
Guidelines to improve quality control at audit firms in placeRediff.com21 Nov 2022
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.
Why India Inc is moving to Dubai in drovesRediff.com7 Nov 2022
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.
Glitches in MCA portal: CAs, CS seek extension in annual filing deadlineRediff.com1 Nov 2022
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.
'We have to do everything to avoid a super spreader event'Rediff.com1 Jan 2022
'Health will continue to be at the centre of the government's attention as it underpins economic recovery and our collective well being.'
Omicron in India: 'Surge likely in January'Rediff.com30 Dec 2021
'Whether the substantial hybrid immunity present in India can protect against severe consequences of the disease remains to be seen.'
How govt plans to plug gaps in the bankruptcy codeRediff.com25 Dec 2021
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.
Is A Vaccine Booster Needed?Rediff.com20 Dec 2021
'There is no emergency of a third wave that we are rushing for booster doses.'
Omicron: Europe-like surge may mean 1.4 mn cases a dayRediff.com18 Dec 2021
'We have to ensure the European situation does not occur in India and we don't see a spread like theirs.'
Govt targets 'left-out' people in fresh Covid-19 vaccination pushRediff.com24 Nov 2021
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.
Companies get 2-month extension to hold AGMsRediff.com24 Sep 2021
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.