BUSINESS
Exclusive | Company law panel may call for more teeth against directors amid alleged irregularities at Byju's, others
The committee, which is considering stronger regulations for unlisted companies, was set up in the wake of governance issues coming to light at a number of companies.
BUSINESS
Higher CCI exemption may encourage companies to pursue M&A route for growth: Experts
The government on March 8 raised the threshold for combination filing i.e. smaller business deals, including mergers and acquisitions, to happen without prior approval of the Competition Commission Of India (CCI). This move has been welcomed as a positive step by industry and experts.
BUSINESS
Govt aims to reduce time taken for voluntary closure of companies to 3 months: Official
The time taken for voluntary closure has already come down to 110 days since the Ministry of Corporate Affairs operationalised Centralised Processing for Accelerated Corporate Exit (C-PACE) on May 1, 2023.
BUSINESS
How Indians will benefit from trade deal with European Free Trade Association
Presently, India levies an import duty of 30 percent on chocolates and chocolate products and 20 percent on most variants of watches from Switzerland.
BUSINESS
MCA raises exemption limit for M&A without prior CCI approval
The increased asset and revenue thresholds described above are applicable for a period of 2 years, with effect from March 7, 2024.
LOK-SABHA-ELECTION
After Paytm Payments Bank crisis, need comprehensive policy for fintechs: CAIT’s Praveen Khandelwal
As far as Paytm goes, since most traders have shifted to other payment options, there will not be any implications on the trading community, says Khandelwal. As far as Paytm Payments Bank is concerned, the funds of depositors or account holders should be returned safely, he says,
BUSINESS
NLC India OFS subscribed 2.92 times; finmin to exercise green shoe option
The base offer comprises the sale of around 6.93 crore equity shares, whereas the greenshoe option will include 2.77 crore shares.
BUSINESS
Exclusive: MCA to intensify action against Chinese companies, finds fraud in a majority of 500 companies investigated
Against the backdrop of heightened tensions, there has been tighter scrutiny of investments from the neighbouring country.
BUSINESS
Timely payment to MSMEs rule to be enforced from April 1: Finmin officials
"Any change to it can now be brought in the next Union Budget in July. No change is feasible before that as it has to be approved by the Parliament."
BUSINESS
FM calls for clarity on classification-related issues under GST at the earliest
Finance Minister Nirmala Sitharaman exhorted GST officials to engage with stakeholders to understand their concerns, enhance compliance and streamline processes.
BUSINESS
Reduced VAT on ATF will spur aviation sector growth, no need to wait for GST: Ministry sources
Thirty-one states and union territories have already reduced VAT on aviation turbine fuel to between 1 and 5 percent. Aviation ministry sources say the remaining five will also reduce VAT in the near future, lifting the burden of high costs on airlines.
BUSINESS
Nirmala Sitharaman to inaugurate conference on combating GST evasion today
Discussion on GST evasion via fake invoicing and strategising effective methods to combat it collaboratively will be on agenda in the conference.
ECONOMY
India has eliminated extreme poverty: Surjit Bhalla and Karan Bhasin, for Brookings
Bhalla and Bhasin note that it took 30 years for India to witness a similar decline in poverty levels, which has now been witnessed over 11 years.
BUSINESS
Govt to look at policy, fiscal support in sunrise sectors, AI, space going ahead: FM
Sitharaman was speaking at the Pandit Hriday Nath Kunzru Memorial Lecture in Delhi's JNU.
BUSINESS
Explained: Why India's Q3 FY24 GDP growth touched 8.4%
The 8.4 percent Q3 GDP growth rate is the highest in seven quarters, albeit on a lower base.
BUSINESS
India's world-beating GDP growth spurs exuberance, but sustaining it remains key
Though the growth rate unexpectedly accelerated to 8.4 percent in the December quarter, economists pointed out the divergence between GDP and Gross Value Added (GVA), which was primarily due to a rise in net tax collections and a sharp decline in subsidy spending.
BUSINESS
Exclusive: MCA to complete probe into Hero MotoCorp, MG Motor by June
The government ordered an investigation on Hero MotoCorp in June 2023 to probe an alleged violation of corporate governance norms and fund diversion.
BUSINESS
I-T Dept’s faceless tax assessment facility enabling faster grievance redressal: FM
The Central Processing Center is located in Bengaluru, which drives the faceless assessment of the income tax system in the entire country
BUSINESS
Govt to decide on direct overseas listing of cos after GIFT City experience: Official
Currently RBI, Sebi and the Ministry of Corporate Affairs (MCA) are discussing a framework for Indian listed companies to move to GIFT City. This is expected to help companies boost their valuation and access better global opportunities.
BUSINESS
Drop in food expense in household consumption survey a good sign: Piyush Goyal
The commerce minister was speaking at an event on the theme of 'Viksit Bharat @2047' organised by industry body Ficci.
LOK-SABHA-ELECTIONS
No proposal for FM Sitharaman to contest Lok Sabha polls: Source
Union Finance Minister Sitharaman and External Affairs Minister Jaishankar are Rajya Sabha members from Karnataka and Gujarat respectively.
BUSINESS
Exclusive: Govt likely to focus on strengthening related party clause in company law
All the big investigations, including ZEEL, are likely to expose violation of related party transactions
BUSINESS
SCI divestment faces more hurdles as pension scheme and ongoing court case may delay process further: Sources
SCI is the midst of a court case for non-payment of medical dues to its employees. There is also no clear picture of how employees will be compensated after the demerger under the pension scheme of the company.
BUSINESS
Corporate affairs ministry asks to speed up inspection report on Byju’s
There is no separate Serious Fraud Investigation Office (SFIO) probe ongoing against Byju’s, the official clarified.
