Rishi Ranjan Kala

Crackdown on shell firms: Rules amended to ensure stricter compliance

Gaurav Mohan, CEO of AMRG & Associates, noted that this would push the corporate governance to next level and would hold all directors directly responsible for non-compliance by a company in filing ACTIVE forms.

Economy News

Jaypee Infratech resolution plan: NBCC says its bid is ‘feasible and viable’, but ready to negotiate

On May 17, the National Company Law Appellate Tribunal (NCLAT) directed JIL’s CoC to renegotiate with NBCC on the revised bid by May 30 and then start afresh the voting a day later, from May 31.

Jaypee Infratech resolution plan, Jaypee Infratec, NBCC, NBCC, NCLAT, committee of creditors, YEIDA News

Jaypee infratech insolvency: Adani Group bid turned down by CoC

AIDPL is a wholly-owned subsidiary of Adani Properties, which, in turn, is held by the Adani family. It is engaged in real estate and is the holding firm for various real estate special purpose vehicles of the Adani group.

Adani Group, Jaypee Infratech, committee of creditors, Adani Infrastructure and Developers’, industry news

Ease of Doing Business: Commerce Ministry seeks cut in compliant burden on firms

Sources said that commerce ministry earlier this week approached the MCA requesting it to explore options regarding bringing down the number of compliances companies have to follow to reduce their regulatory burden.

Economy News

Jaypee Infratech case: CoC asks NBCC for clarifications on exit clauses, financing

The committee of creditors (CoC) of Jaypee Infratech (JIL), which met on Thursday, directed NBCC to furnish clarifications in writing about exit clauses that the state-run company has made in its revised bid and also inquired

Industry News

Jaypee Infra insolvency: Debt recovery tribunal bars Manoj Gaur from selling assets

Manoj Gaur was also directed to disclose on affidavit his assets, movable and immovable, before the tribunal on or before next date of hearing, which is scheduled for May 29.

Industry News

Real estate crisis: Representative voting by homebuyers likely

The MCA has placed two options on the table — representative voting among home-buyers by treating them as a sub-class among the financial creditors or by stipulating that the majority threshold could be met by just counting

Suraksha Realty, Suraksha Realty bid, Jaypee Infratech, committee of creditors, NCLT, Jaypee Group, Insolvency and Bankruptcy Code News

War on fakes: Govt may verify WhatsApp, Twitter, Facebook accounts using mobile numbers

Twitter, Instagram and Facebook already have profile verifications, where the user’s name is verified and is indicated by a blue tick. But only few users have used it.

Industry News

Jaypee Infratech insolvency: NBCC’s revised offer could get stuck on RP’s fresh objections

They also raised objections over the role of Jain alleging that he is siding with Gaur.

GST on homes, under-construction home, home buyers, real estate, GST plus Stamp duty, Stamp duty, Real Estate Developers News

Govt clears NBCC’s bid for Jaypee Infratech, SBI seeks urgent meeting of CoC

It started on Tuesday (April 30) and will take place till Friday (May 3). Some homebuyers and members of CoC too have asked for again considering NBCC’s bid.

Industry News

Tough stand: Govt declines to defer SA 701 accounting standard

Chartered accountants (CAs) largely had a mixed response to the development.

Economy News

Jaypee Infratech: NBCC, Suraksha plans offer little for operational creditors

The revised resolution plan by the consortium led by Suraksha Realty, too, has proposed a similar deal.

Industry News

Jaypee Infratech homebuyers offered Rs 97 crore compensation

Promoter Manoj Gaur has proposed to deliver homes under Wish Town projects in Noida, Mirzapur and Agra (19,197 units) within 3 years of approval of his plan .

jaypee, jaypee infratech, manoj gaur News

Jaypee group chairman to meet homebuyers today to discuss resolution plan

Sources said Gaur wrote two letters to homebuyers, first on April 13 and the second on April 17, where he assured them of his intentions of delivering their housing units in a time bound manner. The meeting is scheduled for F

Jaypee group chairman to meet homebuyers today to discuss resolution plan News

Adani keen on acquiring Jaypee Infratech assets, approaches RP, CoC

In a letter to JIL's resolution professional (RP) Anuj Jain, Adani Infrastructure and Developers (AIDPL) said it is “interested” in participating in the new corporate insolvency resolution process (CIRP) and in implementi

Adani once more evinces interest in acquiring Jaypee Infratech assets, approaches RP, CoC News

Flip-flop: Government withdraws fiat banning LLPs in manufacturing

Analysts were of the view that the memo would impact not just the government’s efforts towards enhancing ease of doing business, but also the drive for corporatisation of un-incorporated entities.

The MCA’s central registration centre (CRC) had come out with the OM. News

Jaypee Infra: Suraksha ARC makes cosmetic changes in revised resolution plan

Suraksha has offered to pay the financial creditors an upfront payment of Rs 18.55 crore against Rs 10 crore proposed in the plan submitted in February.

Industry News

WhatsApp’s Paytm-rival UPI-based payments service may take more time to launch

At present, the Facebook-owned company is running a pilot for the service, WhatsApp Payments, with close to 1 million users. Google Pay leads the payment service providers market in India followed by Paytm, PhonePe, BHIM app

Industry News

Govt to study the impact of SC ruling on bad loans cases

The secretary stressed that the prerogative of the banks to choose between SARFAESI Act, IBC or any other resolution tool remains with them.

Banking & Finance News

Smartphone brands step up digital marketing spend by 20%

This will be followed by social marketing (26%), performance (24%), programmatic (10%) and influencer marketing (6%). The report noted digital marketing spends would surpass the budget earmarked for print and radio.

Industry News

Here’s how govt plans to sell FMCG, electronic products in rural India

FMCG, electronics to be sold in villages across India via cash-and-carry stores under e-Governance initiative

FMCG, Common Service Centres, ITC, Hewlett Packard, Patanjali, Patanjali in rural india, VLE societies News

Facebook, WhatsApp, other social media sites face Rs 5 crore penalty for data breach

Sources said considering the tremendous growth of IT platforms, including social media platforms and the increasing contraventions being reported, the residuary penalty is not considered adequate and needs to be revised.

MeitY, data breach, Facebook, WhatsApp, Twitter, Information Technology, Information Technology Act, economy news

No cheap thrills: New DTH, cable tariff regime will make TV viewing costlier

The new framework introduced by TRAI for cable operators and broadcasters allows subscribers to choose their favourite channels as per their need and pay only for the selected channels.

DTH channels, TV bill, New rates of cable, DTH subscribers, trai, ICRIER News

Microsoft seeks easing of e-commerce norms, favours sharing of data within group firms

The development relates to the first meeting of stakeholders, which took place earlier this month, after the department for promotion of industry and internal trade (DPIIT) came out with its draft e-commerce policy, governmen

Microsoft, sharing of data, e-commerce policy, DPIIT, data storage rules, Microsoft, netflix, LocalCircles News

Good news for start-ups: Incorporation norms relaxed — Details here

The amendment to the Companies (Incorporation) Rules, 2014 to this effect was notified earlier this month.

Industry News

Fake news under watch: Facebook, Twitter to act against ads violating EC norms

Participants have built the technology to upload the Media Certification and Monitoring Committee (MCMC) certification. Participants have also committed to taking action on paid advertisements violating MCMC certification req

Fake news under watch! FB and Twitter to act against ads violating EC norms News

Hateful content under watch: Govt to amend IPC to take on anti-social elements

A panel formed by home ministry has submitted its report in this regard.

IPC to be amended to tackle social media hate crimes (Representational image) News
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