Supreme Court judge Justice K Vinod Chandran on Monday recused from hearing a plea seeking directions to authorities to investigate allegations made by US short seller Viceroy Research that billionaire Anil Agarwal's mining conglomerate was "financially unsustainable" and posing severe risk to creditors.
The government on Monday said it proposes to incentivise incorporation of one person companies, a move that will benefit startups and innovators.
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.
Infosys, which is managing MCA21, has been facing flak from different quarters on the woes pertaining to the portal.
The new web form would facilitate on-screen filing and real time data validation for seamless incorporation.
Earlier this week, MCA had asked rival Tata Consultancy Services for temporary assistance to resolve glitches related to the electronic filing system MCA 21 -- currently being implemented by Infosys.
Infosys would take over the programme from its rival Tata Consultancy Services.
MCA portal clocks 5 mn views in 8 months; ministry to integrate company records portal with DGFT, I-T dept this year
Rollout of the Delhi leg of the project is critical because the registry here serves about 1.4 lakh companies
The technical report of the NSSO has generated controversy following its observation that as much as 36 per cent units forming part of MCA-21 database, used in computing GDP, could not be either identifiable or traceable in the field.
The tax department will remain a source of endless nightmares for citizens and 'transparent taxation' will remain an empty slogan and a cruel joke, observes Debashis Basu.
Data on the new series given by a panel on real sector statistics shows that GDP grew by 10.23 per cent in 2007-08 and 10.78 per cent in 2010-11. There are some years for which the new figures show a deceleration in growth as well. The new series has 2011-12 as the base year while the earlier series had 2004-05 and 1993-94.
TCS was in charge of development and management of the portal for seven years, until MCA decided to hand the work of its IT vendor to Infosys.
Corporate social responsibility rules that kicked in on Friday also set a three year time-limit for any CSR project, among a series of other amendments introduced by the government.
The tax portal problem is a goof-up by both sides, and making Infosys the only villain in the story is quite unfair, argues Shyamal Majumdar.
'We are looking at the Budget with the hope that it will address all issues even at the cost of exceeding the fiscal deficit target.'
The MCA notification lays down a deadline of August 31 for the fulfillment of the KYC requirements
Companies would have to furnish digital signatures with the Registrar of Companies for e-filing under the MCA-21 programme of the government.
The impact of this move will be visible in the next three years. This is because manual filing will still continue for a smooth transition to the online filing system. During this period, 53 special kiosks will be set up to facilitate e-filing.
Incorporating a new company or filing annual and other statutory returns will be as simple as clicking the mouse once the government implements its ambitious Rs 300 crore (Rs 3 billion) project for fully computerising Registrar of Companies and Regio
N R Bhanumurthy, professor of economics at the National Institute of Public Finance and Policy, and the author of the series, presented in a report to the National Statistical Commission, explains to Abhishek Waghmare various aspects of the methodology.
The panel finds 'discrepancy' in the Annual Survey of Industries data.
The revision of the consumer price index and GDP base years from 2011-12 and 2012, respectively, were dependent on the outcomes of the consumer expenditure survey of 2017-18 that the government decided to junk recently.
RBI Governor Raghuram Rajan has noted the contradiction.
Subramanian's paper comes at a time when concerns have been raised in various quarters about the official economic growth numbers. The Economic Advisory Council-PM said the Base Year of India's income calculations were shifted to 2011-12 on the basis of recommendations of several committees with experts in national income accounting.
'Instead of doing reforms and restructuring, the present government is busy with the perception that everything is fine and the economy is hunky-dory.' 'Such hollow perceptions are very dangerous for the Indian economy in the long run.' 'The real risk to India is the lack of decent employment opportunities for youth in general and educated youth in particular.'
'The economy may not improve unless you admit there are some problems.'
Sebi has also been asked to put in place a mechanism to monitor the beneficial owner of P-notes
It is pegged at 6.8-8% by various economists, as compared to 6.7%.
Company says faults, which were noticed soon after system upgrade on March 27, have been rectified
The estimates of national income and growth do not pass the 'smell test'.
Only power generation grew faster in 2014 than in earlier years.
The Supreme Court-appointed SIT on Friday called for effective norms to curb betting in cricket and a stronger set of norms for P-Notes, while also making a case for bringing donations to educational and religious bodies under tax net.
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