Government mulling new scheme to resolve stressed power assets

Instead, Garg said, resolution could be sought through asset reconstruction companies that work as financial managers. Industry experts can also help given the technology-intensive nature of the sector.
Economy News

No plan to stop petrol, diesel vehicles: Nitin Gadkari

Typically, merchant bankers charge anywhere between 3% and 5% of the issue size for normal initial public offering (IPO), but for SMEs, they charge between 8% and 10% as the issue size is very low.

petrol, diesel, vehicle, Nitin Gadkari, NITI Ayog, industry news, NSE EMERGE, MSME, Bharat Craft, auto sector News

Debt servicing: Govt cuts tax burden on stressed power plants

Ten power plants had won 25-year coal linkages of 27.2 MTPA in the first round of Shakti auctions where bidders quoting the highest discount to its existing tariffs were allowed to choose their prefer

Debt servicing, tax cut, tax, corporate tax, power plant, economy news, Adani Tiroda, GMR Kamalanga, GVK Goindwal Sahib, KSK Mahanadi  News

Supreme Court refers Oxytocin issue to a larger bench

The seven issues framed by the Bench also include whether the health ministry’s last year’s notification had resulted in creating a monopoly in favour of public sector companies to the complete ex

Supreme Court, Oxytocin issue, Oxytocin, industry news, Oxytocin uses, Oxytocin hormone, Oxytocin action News

Polavaram project: Andhra Pradesh High Court stays re-tendering process

The contract, which was awarded by APGENCO, is estimated to be Rs 3,400 crore of civil works, apart from Rs 3,000 crore of hydel power project on the engineering, procurement and construction basis.

Polavaram project, Andhra Pradesh High Court, Andhra Pradesh, economy news, TDP, YSR, Polavaram dam, Polavaram high court, Polavaram hydel project, Polavaram reverse tendering, Polavaram news   News

MCA issues clarification on firms’ merger date

The circular clarified that the term “appointed date” used in Section 232(6) shall be deemed to be the “acquisition date” for the purpose of conforming to IndAS 103 standard dealing with busin

Ministry of Corporate Affairs, MCA, economy news, merger, merger dates, company, acquisition  News

Growth, inflation trends demand fresh approach: RBI governor Shaktikanta Das

External member Chetan Ghate wrote that fiscal imbalances embodied in the large public sector borrowing requirement — roughly 8-9% of GDP — will lead to detrimental outcomes for the economy.

RBI, RBI governor, Shaktikanta Das, Growth, inflation, GDP, Credit growth News

EPFO net payroll additions surge 43% in June

As per the EPFO data, the highest percentage rise was in the age brackets of above 26 years with month-on-month increase of 54%, while the rise was lower at 35% for those below 26 years of age. 

payroll, EPFO, Employee Provident Fund Organisation, economy news, ESIC,  News

Rooftop solar: Centre for greater discom role in achieving targets

The government, in February, had approved the second phase of the "grid-connected rooftop and small solar power plants programme" for achieving cumulative capacity of 40 GW rooftop capacity by 2022.

rooftop solar, solar energy, discom, renewable energy, discom role, rooftop solar power plant, rooftop solar system, rooftop solar panel News

Income tax disputes: Revised limit to be applicable to pending cases

Last year, the board had raised the monetary limit for appeal in tribunal to Rs 20 lakh from Rs 10 lakh. The threshold was more than doubled in case of appeals before the high courts to Rs 50 lakh fro

Economy News

Andhra Pradesh ups land rates by 10 pct, realtors slam burden on buyers

According to local reports, projects worth over Rs 20,000 crore were awarded to Singapore and few other infrastructure companies for urban planning and development, transportation, waste and water man

Andhra Pradesh, land rate, land price, realtor, buyers, economy news,APCRDA,Anarock Property Consultants, Amaravati News

FM Nirmala Sitharaman calls for efficient resolution of tax disputes

After Ahmedabad last week, this was Sitharaman's second such visit to a tier-2 city, which is aimed at consulting traders, industry experts. She has already lined up plans to tour various other cities

 finance minister, Nirmala Sitharaman, efficient resolution, tax dispute, tax, economy news, CBDT, central board of direct taxes News

Short supply of coal: Government clears methodology to compensate power firms

Even after making advance payments, power plants were not compensated for short supply of coal even if it was due to the fault of Coal India or the railways.

Short supply of coal, coal supply, Government, power firm, economy news, coal, railways, coal india News

Adani’s Rs 70,000 crore plan to build solar-powered data centre parks in Andhra Pradesh in limbo

The Adani Group had signed an MoU with the AP government in January with a committed investment of Rs 70,000 crore for the next 20 years. Under this MoU, the company had planned to set up three green

Adani, solar powered data centre, Andhra Pradesh, solar park, Adani group, Adani share price News

Coal ministry panel approves fuel supply to Tamil Nadu power plants

Although the North Chennai unit was originally scheduled to be commissioned in December 2019, it is now expected to be ready only by March 2020.

Coal ministry, Coal ministry panel, Tamil Nadu power plant, power, economy news, Thermal Power Project, Khagra mine, NTPC News

Boon to start-ups: Centre raises cap on differential voting rights

The two incentives have been offered following requests from tech companies and start-ups, as well as to strengthen hands of Indian companies and their promoters

Govt removes 3-year distributable profit norm to be eligible to issue shares with DVRs News

FM Nirmala Sitharaman hints at economic booster, but refuses to give timeline

Discussions at the highest level of the Union government were going on in which current plight of declining demand and plummeting sales as well as other issues were discussed, the finance minister sai

 finance minister, Nirmala Sitharaman, efficient resolution, tax dispute, tax, economy news, CBDT, central board of direct taxes News

Top executives of Apple, Samsung, Xiaomi to meet government on August 19

The government attaches high priority to domestic electronics hardware manufacturing as it is one of the important pillars of both ‘Make in India’ and ‘Digital India’.

The roundtable meeting, to be chaired by electronics and IT minister Ravi Shankar Prasad, will be attended by chiefs of over 46 companies. (File photo) News

Competitive law: Panel wants ‘disclose and comply regime’ for M&As

The recommendation forms part of a report by the Competition Law Review Committee, constituted in October 2018, for reviewing the competition law framework.

The panel said it was agreed that detailed criteria for eligibility under the Green Channel may be formulated by the government based on consultation with the CCI. News

Fasal Bima Yojana: Changes deferred to next Kharif season

Currently, there is no cap on premium quoted by insurance companies and during last kharif season, the lowest bid was exorbitantly high at 60% (of sum insured) for one crop in a district.

The delay in rolling out the necessary changes in the guidelines is also said to be from an apprehension that there could be a sharp decline in coverage if PMFBY is made optional. News

PESB recommends Sridhar Patra for Nalco CMD post

Government head-hunter Public Enterprises Selection Board (PESB) has recommended Nalco’s finance director Sridhar Patra’s name for the top post of the state-owned aluminium maker.

Industry News

Soma Mondal, Sridhar Patra lead race for Nalco CMD post

SAIL's commercial director Soma Mondal and Nalco’s own finance director Sridhar Patra are the front-runners for the post of the chairman of the state-run aluminium major.

The chairman and managing director’s position in Nalco will fall vacant following incumbent TK Chand’s superannuation on November 30 this year. News

Guarantee for NBFC assets: Rules framed with tough riders

The guarantee provided by the government on the assets will be valid for 24 months from the date of purchase and can be invoked on the occurrence of default.

The NBFCs/HFCs can have the option to buy back their assets after 12 months as a repurchase transaction, on a right of first refusal basis. News

CSR obligation: Panel for making non-compliance a civil offence

The high-level committee, constituted in October 2018, made recommendations on strengthening the CSR ecosystem, including monitoring implementation and evaluation of outcomes.

The panel also emphasised on not treating CSR as a means of resource gap funding for government schemes. News
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