Of the Rs 4,405 crore unpaid debt of 12 companies, more than half was locked in just one Mumbai-based real estate company, Kohinoor CTNL Infrastructure.
Thousands of unlisted companies registered with RoCs will soon go under watch on lines similar to the oversight by the Securities and Exchange Board of India of listed companies.
After taking action against 226,000 shell companies last year, the ministry of corporate affairs has now zeroed in on a fresh batch of suspected shell companies.
Bhavdeep Singh, the CEO of Fortis Healthcare said that they haven't been able to focus on the business due to an internal issue, especially with regard to the promoters
By April, operational guidelines for the scheme will be finalised and shared with states
While the basic premise and spirit of the Code will remain the same, the commas and the full-stops in the draft report being prepared by a high-level committee will make interpretation of the law simpler
The rules are being framed to maintain absolute transparency and fair play in investigations.
ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
'What would be questioned next?' 'Will the Copernicus theory of the sun being the centre of the universe, or Newton's theory of gravity?' asks Veena Mani.
The order was passed with dissent by two members, and four members feeling that there had been abuse of the search engine's dominant position.
Experts believe that states will be in a predicament because of their tight fiscal position and reluctance to replace their own health schemes with this newly announced National Health Protection Scheme.
A surge in taxi fares earlier led Maharashtra govt to set up committee to recommend prices for these players
This is being done keeping in mind the urgency of these transactions, and it would help the ongoing insolvency cases, including the 12 accounts referred by RBI to banks.
The Philippines launches probe after Sanofi reveals WHO-approved dengvaxia - a dengue vaccine - aggravates symptoms in some cases.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
Ministry of Corporate Affairs is now likely to examine whether all active companies have PAN or not
Their bank accounts have been frozen. State governments have been told to restrict sales and transfers of real estate assets these companies own.
Veena Mani reports.
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
The government plans to rationalise trade margins for many other medical devices, besides stents and knee implants.
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