The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
But it does not mention its views on the government demand to ban these two auditors for five years from business.
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore under the approved resolution plan. The National Company Law Tribunal (NCLT) on June 22, approved the consortium's resolution plan for Jet Airways, which has been undergoing insolvency resolution process since June 2019. The carrier shuttered operations in April 2019.
Multiple agencies to probe, regulatory crackdown on more companies expected.
There was no law or autonomous body governing digital content in India so far. Now, OTT and other platforms, including digital news websites, are expected to fall within a governmental framework of rules and regulations.
The G-20 meeting of finance ministers and central bank governors at London recently discussed the issue of high salary and bonuses.
Reliance Power is yet to get a new CEO after J P Chalasani quit as managing director and chief executive officer.
Modi has appointed P K Sinha, who superannuated as cabinet secretary on Friday, as Officer on Special Duty (OSD) in the Prime Minister's Office (PMO), he said.
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
The government wants the RBI to part with most of its profit as dividend.
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
Central Bureau of Investigation on Wednesday registered a record number of 46 cases in a day in connection with its probe in the Rs 10,000-crore Saradha chit fund scam naming Trinamool Congress' sitting Rajya Sabha MP Kunal Ghosh as one of the accused.
Uttam Prakash Agarwal alleged that Citax and Braich offers were incomplete and did not include firm commitment as to the price, size, timings, confirmation from the banks about availability of the funds.
If cleared, the ONGC arm will become the first subsidiary company of an existing Maharatna to get into this superior league among government-owned entities.
The task force has provided probe agencies with a list of attributes, including disproportionate investments, debt, advances or cash, to red-flag such firms.
The measures include operationalising of standards on food additives for use in various categories.
Corporate Affairs Secretary Injeti Srinivas said the issue is how the interests of stakeholders are to be balanced
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
Trust explores options on reinduction of ousted founder on board as firm closes ranks.
A bench of Justices Arun Mishra and U U Lalit also cancelled the leases of Amrapali's properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group.
Compliance costs and legal scrutiny could rise.
Likely to select from 3 shortlisted; follows Sanjeev Kaushik's refusal to take the job if made to retire from IAS
There are four first information reports against Saradha Group in which it is alleged that thousands of investors were allegedly duped by the company officials and their associates who swindled their deposits.
'If you talk about any kind of equality, you are under attack.'
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
Penalties for undisclosed foreign income and assets extend up to 300%.
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
Close to 9 lakh registered companies are not filing annual returns with the ministry of corporate affairs and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.
Etihad's acquisition of 24 per cent stake in Jet Airways was the first FDI in an Indian carrier by a foreign airline.
Pitching for greater transparency in rule-making and other functions of regulators, Finance Minister Arun Jaitley has asked Sebi to work towards attracting more retail investors to the capital markets.
POSCO officials have said it was unlikely to build the plant without assured supply of iron ore.
He said action was akin to holding highway builders responsible for lane violations
Sebi has pushed for better corporate governance of listed companies through measures such as the need for a succession policy
It is hard enough to make a profit in e-commerce without having to deal with excessive paperwork, legal fees and the constant threat of harassment by revenue officials.
This is perhaps for the first time the CBI raided a serving police chief of a state.
While Rahul Gandhi led Congress has a pan Indian presence, Naidu described regional leaders, including himself, West Bengal Chief Minister Mamata Banerjee, Stalin and Deve Gowda as strong leaders in their respective states, who are coming together against the BJP.
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