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Rishi Ranjan Kala

Articles By Rishi Ranjan Kala

300 Articles

Thrust continues on ease of doing business reforms

Finance minister Nirmala Sitharaman on Sunday, while announcing the fifth tranche of economic stimulus, spoke about government’s thrust on enhancing the ease of doing business and making efforts to increase India’s doing

business reforms, ease of doing business, Nirmala Sitharaman,DBR ranking, Companies (Amendment) Bill,NCLT News

Smartphone shipments: India only market among top three to post growth in Jan-March

With a 5.5% y-o-y growth, the average selling price (ASP) for the smartphone market stood at $171 (around Rs 12,500). The sub-$200 (Rs 15,000) segment continued to dominate, accounting for 76.2% of the total market.

IDC expects the India mobile phone market to follow a U-shaped recovery from Q3 2020 onwards. News

Covid lockdown: Why electronic manufacturers are concerned despite relaxations

As consumer electronics companies fire up their manufacturing units with limited employees and resources after taking permission from authorities, there are still supply-side constraints and issues related to movement of labo

Industry News

Audit files to be opened for scrutiny for greater accountability

The National Financial Reporting Authority (NFRA) has floated draft procedures for submission of audit logs to the regulator by audit companies and chartered accountants (CAs).

Economy News

COVID-19 Impact: Office space demand may see sharp fall in coming years

Demand for office space could fall sharply over the next two years as the economy remains in slow gear and more companies ask employees to work from home.

IT industry, indian IT industry, information technology, Care Ratings, coronaviru News

Smartphones, Indian consumers to have a tepid love affair this year

Smartphone shipments set to decline 5-10% Y-o-Y in 2020; feature phones by 35-40%

The decline comes after India clocked a record smartphone shipment of 158 million units in 2019 calendar year (CY), surpassing US as the world’s second-largest smartphone market. (Representative image) News

AIF Plan: Only a fifth of Rs 5,000 crore earmarked disbursed so far due to COVID-19 curbs

According to a recent industry estimate, as many as 4.58 lakh housing units were facing delayed delivery across 1,509 stalled projects.

Additionally, the fund is in talks with relevant entities to facilitate the approval process for more than 100 deals that are being worked upon to complete the information required for their approval. (Representative image) News

Kerala Model: Weekend mobile, TV shops thrive but supply a constraint

The concern is genuine as new hotspots are emerging in districts like Idukki and Kottayam that were earlier in the green zone and considered safe.

The apprehension is that if green zones start turning into red with new cases detected, businesses can't settle and operate smoothly. News

India smartphone market: Device shipments up 4% in Jan-March, says Counterpoint

Consumer demand will have a larger impact on smartphone sales, as people will focus on saving and therefore limit discretionary purchases.

While the smartphone market registered an annual growth in Q1, the feature phone market saw a decline of around 24% y-o-y during the same period implying consumers are transitioning to smartphones. (Represnetative image) News

CSR conflict: Why PM-Cares is ok, but not CM-Cares?

As per the corporate affairs ministry’s FAQ, in addition to contribution towards PM Cares Fund (notified on March 28), contributions made by companies to SDMAs and to Covid-19 related activities such as preventive healthcar

Industry News

COVID-19 Impact: MAIT urges govt to allow sales, servicing of electronics products during lockdown

The association fears that if the sector is not allowed to operate, the industry will lose to Chinese imports, which would flood the market.

Speaking to FE, Paul said, “However, there is an all-round concern on the non-inclusion of mobile and ICT products under essential goods and services”. (Representative image) News

Covid-19 impact: Analysts anticipate severe hit to affordable housing segment

JLL India in a report released on Tuesday explained that owing to the economic slowdown as a result of the current situation, consumer confidence has also taken a hit, which is having a direct implication on home buying decis

Resultantly, there is a huge under-construction supply of about 6.1 lakh units in this segment. News

Hard realty: Already down, industry hopes for marginal Covid-19 impact

Experts say demand likely to be delayed sans much change in already low prices

Analysts expect homebuyers to more likely delay decisions on purchasing property till the air clears on the economic scenario in light of the global pandemic. (Representative image) News

Housing sales to decline 25-35% in 2020: Anarock

“New launches may also witness a 25-30% decline during the same period — from 2.37 lakh units in 2019 to anywhere between 1.66-1.78 lakh units,” Ananrock said.

Industry News

Companies want interim dividend rule relaxed

Another relaxation sought is on Section 134 of the Companies Act, which deals with the report by the company board.

Generally, dividend is paid for a financial year after the final accounts have been prepared and the amount of distributable profits is available. News

Coronavirus outbreak: Mobile sales hit as buyers stay away

Shipments are expected to decline by around 27% on a year-on-year (y-o-y) basis during March and a sharper 60% in April, according to analyst estimates.

Industry News

COVID-19 Impact: Companies urge govt to extend current financial year to June; relaxation in CSR spends

Sources said companies requested for a relaxation in Section 2 (41) of the Companies Act, which deals with financial year.

multi national companies, coronavirus, covid 19, UK,, infosys News

Coronavirus effect: January-March housing sales drop 42% year-on-year so far

In terms of apartment sales, Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru and Pune together accounted for 84% of the sales in the first quarter of the current calendar year.

Industry News

Industry associations urge govt to classify ICT infra support, IT-ITeS as essential services

The employees working in such services and their support staff should also be allowed to work with self-certifications and company identity cards, ITI, COAI and MAIT urged the government.

The government has also exempted delivery of essential items, including food, medical equipment sold through e-commerce sites from the 21-day lockdown. News

Compliance norms tightened for Nidhi firms

The move comes in the backdrop of the government revising corporate norms to ensure that investors are not duped through fraudulent activities.

Nidhi firms, Ministry of corporate affairs, NBFC, Nidhi companies, Form NDH-4, AMRG & Associates News

Corona: Govt allows board meetings via video conferencing till June 30

“Now these meetings can be held via video conferencing or audio-visual means till June 30 by duly ensuring compliance of rule 3 of the said rules. Necessary changes in the rules are expected to be notified soon,” the sour

With recent surge in the number of cases of COVID-19 across the globe, it would not be practical for companies to mandate physical presence of board members. (Representative image) News

Government tightens compliance norms for Nidhi companies

The ministry has advised investors to verify the status of a Nidhi company from the notification issued by the Centre in official gazette before making any investment or deposit.

MCA, ministry of corporate affairs, mca form on covid 19, coronavirus News

Govt announces one-time amnesty scheme for non-compliant LLPs

The scheme, LLP Settlement Scheme, 2020, allows for a one-time condonation of delay in filing statutorily required documents with the Registrar of Companies (RoC), it added.

India has around 1.25 lakh active LLPs, of which a majority are in business services, followed by trading, manufacturing and real estate & renting. News

NBCC gets NCLT nod to acquire Jaypee Infratech

In a positive news for close to 21,800 homebuyers of bankrupt Jaypee Infratech (JIL), the National Company Law Tribunal (NCLT) on Tuesday approved the state-run NBCC’s resolution plan to take over the company. NBCC&#821

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NBCC proposes to sell-off Jaypee Healthcare

Incorporated in 2012, Jaypee Healthcare has hospitals in Noida, Chitta and Anoopshahr in Uttar Pradesh.

Jaypee hospitals, NBCC News

Vodafone Idea AGR Dues: Nick Read seeks meeting with Prasad

The company, which has so far made payments of only Rs 3,500 crore has said that it is not in a position to pay any more and its viability depends on some relief measures by the government.

"VIL has recently made payment of Rs 3,500 crore towards part payment of self-assessed principal (excluding interest and penalty) dues emerging from the AGR issue. News

Social media: IT and law ministries to sort out differences over norms

MeitY was expected to place the final guidelines before the Supreme Court on or before January 15, but it sought time from the court till the last week of January but did not meet this deadline.

Industry News