Rishi Ranjan Kala

IL&FS: Centre expects recovery to exceed 50%

‘Green’ entities are those which can pay all their obligations while ’ambers’ are those that can meet their obligations only partially. “Reds” are those that cannot meet any of their obligations.

Industry News

Make in India: Only half of country’s 268 cellphone makers stay afloat

In December 2018, the prime minister went with the first estimate and spoke of 120 mobile makers. In the Interim Budget on February 1, the finance minister used the 268 number, and said this was a big jump from just two units

Make in India, mobile maker, mobile phone manufacture, industry news, Registrar of Companies,  News

Affordable housing: New launches see 20% drop in April-June

Even though the new launches of affordable housing units fell 20% in Q2 2019, its share in new supply (overall) is the highest at 37%.

During Q2 of 2019 calendar year, the new supply fell to 25,580 units compared to 32,060 units in Q1 2019. (Representational Image) News

Home loan tax sops may not boost demand in metros

Market experts peg the difference between market value and circle rate at 5-7% in most instances.

home loan, housing loan, home loan repayment, home loan interest rates, fixed News

Budget 2019: Roof over head closer to reality as affordable housing gets boost with additional Rs 1.5 lakh tax deduction

Union Budget 2019: The government will continue to focus on affordable housing and plans to construct more units under the Pradhan Mantri Awas Yojna (PMAY).

Union Budget 2019 India News

Telecom fix: Ravi Shankar Prasad seeks cut in licence fee, refund Rs 30, 000 cr of stuck GST

In a letter to finance minister Nirmala Sitharaman outlining his Budget proposals for the sector, Prasad has urged for reduction in licence fees by a fourth.

Telecom fix, licence fee, licence fee cut, GST, Ravi Shankar Prasad, Nirmala Sitharaman News

CCI should debate role of Big 4 regarding concentration, market dominance: Injeti

Injeti Srinivas added that the fair trade regulator, Competition Commission of India (CCI), should debate on this issue as it concerns the market.

Injeti Srinivas, ministry of corporate affairs, CCI, market dominance, PwC, Deloitte, EY, KPMG News

War on fake news: Govt to roll out guidelines for Google, Facebook, WhatsApp, ISPs

Confirming the development, a senior government official said MeitY is currently fine-tuning the guidelines and they are being discussed with IT minister Ravi Shankar Prasad.

IT guidelines, fake news, indian government, MOdi government, technology, Facebook, WhatsApp, Twitter News

Will complete Jaypee Infra’s projects in 4 years, Adani tells committee of creditors

This is the second time Adani group has shown interest in acquiring JIL’s assets.

jaypee, jaypee infrastructure News

How Modi govt is planning to provide clean drinking water to 1 lakh villages

CSC has inked an MoU with the Bhabha Atomic Research Centre (BARC) for installing water filtration plants in villages.

drinking water, pilot project modi government News

Jaypee Infratech insolvency: Resolution hits roadblock as divided homebuyers spar

The corporate insolvency resolution process (CIRP) of cash-strapped Jaypee Infratech (JIL) has hit a roadblock with the homebuyers divided in two groups — one in favour of considering Manoj Gaur and Adani group’s resoluti

Industry News

Government starts crackdown on dummy firms

MCA initiates action against firms failing to provide details of registered office, officials.

Economy News

E-commerce drives warehouse leasing to grow over 45% in 2018: Report

The impressive growth in e-commerce has been on the back of favourable policy reforms, tech-enhanced warehouses, rising smartphone and internet penetration, digital India movement, among others.

This has upstretched the share of e-commerce in overall warehousing leasing uptake in the country from 10% in 2017 to 23% in 2018. News

Educomp unit’s insolvency resolution: Founder, lenders trade charges

Some CoC members have raised questions on the role of Educomp Solutions founder Shantanu Prakash, who claims the charges are baseless and the resolution professional is undermining the process

Online education services provider ESL is the holding company of EISML, which provides various support services to schools. (Website image ) News

IFIN former CEO didn’t disclose links with Unitech

SFIO said its investigations revealed that IFIN, as part of its lending business, extended loan facilities to external entities (other than IL&FS group firms).

One of the firms in question had business transactions with the cash-strapped Unitech, which had defaulted on a loan taken from IFIN. News

IL&FS scam: Aircel founder Sivasankaran used IFIN to sanction loans

SFIO, based on its investigations, also claimed that Sivasankaran controls the Siva group and took all the important decisions on part of the group companies.

IL&FS scam, Sivasankaran, Aircel founder Sivasankaran, IFIN, IL&FS group, SIVA Ventures, ministry of corporate affairs News

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