The National Company Law Tribunal on Tuesday approved the Jalan-Kalrock Consortium's resolution plan for the bankrupt Jet Airways.
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.
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for Covid-19 vaccination, saying they are exposed to high risks during these difficult times.
In the first phase, most of the outdated regulations in the state and central Acts will be removed. Further, compliances with regard to annual inspections, licence renewal, and storage of multiple data will be eased.
The Supreme Court on Friday stayed criminal proceedings against former chairman of Wipro, Azim Premji, and his wife on their plea seeking quashing of the summons issued by a Bengaluru trial court on a "frivolous"and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three firms with a Premji group firm. A bench of Justices Sanjya Kishan Kaul, Dinesh Maheshwari and Hrishikesh Roy also issued notice to an NGO, Indian Awake for Transparency and others and sought their response. Senior advocates Mukul Rohatgi, A M Singhvi appearing for Premji and others said that the complaint was "mischievous" in nature.
The Centre has slapped as many as 148 notices on e-commerce players in the past three months for not complying with the mandatory display of the 'country of origin' tag on products sold. "Of the 148 notices, 56 have compounded it (the offence) and paid up around Rs 34 lakh," a senior official told Business Standard. "Every product has to display the country of origin, along with other basic information," the official added. In the case of e-commerce companies, these details have to be clearly displayed on their portals.
Blinken and Indian leaders on Wednesday will discuss a plethora of pressing issues such as the fluid situation in Afghanistan, regional security concerns, COVID-19 response and ways to boost Indo-Pacific engagement, people familiar with the agenda of talks said.
In the last two years, winter sessions have been convened on November 21 and ended in the first week of January.
Amid allegations of dubious funding into the companies of Bharatiya Janata Party chief Nitin Gadkari, the Corporate Affairs Ministry on Thursday said it is looking into investments made in his company.
Rejecting the contention of the auditors and others that they cannot be treated as part of the management, which is responsible for managing the affairs of the company and therefore should not be charged as per the said section, the NCLAT said that rules of natural justice are to be followed.
The media report said Ukraine's National Anti-Corruption Bureau has sent a request to the ministry of home affairs seeking legal assistance in its probe into the alleged kickbacks.
'PM-CARES money is for the relief of citizens, so what is the secrecy then?' 'Why will it harm anyone if it is revealed where the money came from and where it is going?' 'What is there to hide?'
North Block is concerned that when India is trying to attract more investment, putting up restrictions on audit firms could create an avoidable bad advertisement.
The Supreme Court on Wednesday directed a full-fledged probe into the collusion of Tihar jail officials with Unitech's imprisoned ex-promoters Sanjay and Ajay Chandra, based on Delhi police commissioner Rakesh Asthana's report filed in a sealed cover.
The sanctioned individuals and their immediate family members are prohibited from entering the mainland, Hong Kong and Macao of China. They and companies and institutions associated with them are also restricted from doing business with China, according to the statement by the Chinese foreign ministry.
The government had moved NCLT to freeze the assets of 19 people after CBI filed a charge sheet in Nirav Modi's case and Gitanjali Group cases.
According to proposed norms, companies will need to spend at least 2 per cent of net profit on corporate social responsibility-related activities.
One of the changes being proposed is allowing LLPs to issue non-convertible debentures.
The government has withdrawn its order directing companies and commercial units to pay full wages to workers even when they are not in operation during the COVID-19-induced nationwide lockdown, which began on March 25. The government's move is expected to bring relief to a large number of industries and companies which were unable to pay full wages to their employees.
The BJP ignored the principle of the Cabinet's joint responsibility and the adage of the buck stopping at the top, observes Amulya Ganguli.
Ashok Kumar Gupta, chairman of the Competition Commission of India (CCI), has never minced words while talking about the giant technology companies, referring to them on multiple occasions as "centres for entrenched and unchecked dominance". The anti-trust regulator has, in fact, been cracking down on big technology companies such as Google, Apple, Facebook, and others, after they were hauled up by regulators and lawmakers in Europe and Australia. However, in several instances, existing regulations have prevented the CCI from going all out against these companies for anti-competitive activities.
Ministry has ordered a closer scrutiny into the affairs of six companies that were covered in the report.
Deepti is one of the 27 athletes who will be getting the Arjuna Award on August 29 this year.
Recently, the finance ministry waived off basic customs duty and health cess on imported oxygen and related equipment for three years.
The CBDT asks ministry of corporate affairs not to oppose its application to restore the companies struck off by the Registrar of Companies, as it would prevent the board from launching tax recovery proceedings against them.
The central government is importing COVID-19 vaccines and is in talks with COVID-19 vaccine manufacturers Pfizer and Johnson & Johnson, Union Minister of State for Home Affairs G Kishan Reddy said.
The government on Friday notified the rules for insolvency and liquidation proceedings of financial service providers (FSPs). These rules, notified by the ministry of corporate affairs, will not be applicable to banks, reports Ruchika Chitravanshi.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
In a communication to the empowered committee on PLI recently, the Indian Cellular & Electronics Association (ICEA) has stated that except one player (Samsung), all the other eight players (which include vendors of Apple Inc) selected under the scheme were facing numerous challenges in fulfilling the qualification criteria.
Except for laws pertaining to the payment of minimum wages, following safety norms and adequate compensation for workers in case of industrial accidents, no other provisions of the labour law would apply to all new companies that wish to operate in the state for at least 1,200 days, and for those that have already been operational for that period.
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
Vinai Kumar Saxena's current job as lieutenant governor of an Opposition-ruled state will raise the bar -- not just for him, but also for the Aam Aadmi Party government, which never says no to a fight with the representative of the central government in India's capital.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
This will be the second all-party meeting called by the government to discuss the COVID-19 situation since the outbreak of the pandemic.
Each dept could handle a designated area.
Prime Minister Narendra Modi on Sunday said India is a natural ally for the G7 countries in defending the shared values from a host of threats stemming from authoritarianism, terrorism and violent extremism, disinformation and economic coercion.
The Serum Institute of India has informed the Centre that it will be able to supply around 22 crore doses of Covishield in October as the Union government has announced resuming export of surplus Covid vaccines in the coming fourth quarter under the 'Vaccine Maitri' programme, official sources said.
Goyal is expected to discuss the targets for the banks for 2019-20, as well as priority sector lending, recovery on non-performing assets, and the bankruptcy proceedings of various companies, which owe money to the banks.
A magisterial court had on July 2 dismissed his bail plea and sent him to 14-day judicial custody (JC) in the case, citing the nature and gravity of the offences against the accused and observing that the matter was at an initial stage of investigation.
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