Amtek Auto, which owes nearly Rs 12,000 crore, was among the 12 big accounts identified by the Reserve Bank of India. The National Company Law
Month: July 2018
One step back: NCLT rejects Jyoti resolution plan – The Financial Express
While the financial creditors of the company claimed Rs 8,226 crore, the NCLT has admitted claims worth Rs 7,625 crore. The Mumbai bench of the
CBDT expands scope of tax audit process – The Financial Express
One of the amendments requires reporting on separate expenditure incurred on entities registered under the GST and those that are outside the ambit. The Central
CBDT’s decision to not pursue cases below Rs 2 mn may cost govt Rs 100 bn | Business Standard News
The Central Board of Direct Taxes’ (CBDT’s) decision to not pursue pending cases of income tax (I-T) demand below Rs 2 million could deprive the
NCLAT questions Tata Steel on eligibility in Bhushan Steel case – The Financial Express
Bhushan Energy promoters sought the appellate tribunal’s intervention as the termination of the PPA might reduce its valuation. The National Company Law Appellate Tribunal (NCLAT)
Making Sashakt scheme work – The Financial Express
Earlier this month, a committee of representatives from several banks—led by the Punjab National Bank chairman Sunil Mehta—announced an alternative mechanism for resolving bad loans,
4,387 large borrowers account for 90 per cent of NPAs – The Financial Express
The government today said 4,387 large borrowers accounted for Rs 8.6 lakh crore or 90 per cent of total non-performing assets (NPAs) of the banking
A desirable route to flexible resolution
The new inter-creditor agreement (ICA), signed by two dozen banks and financial institutions, to resolve bad loans is welcome. It gives lenders flexibility in taking
IBC amendment allows firms to bid for multiple stressed assets – Business Line
Corporate houses with deep pockets can bid for multiple distressed assets under the insolvency process without getting themselves disqualified under Section 29A of the Insolvency
e-Way bill to pack in details of vehicle fitness, PUC, insurance – Business Line
The e-Way bill, which currently gives only details of the value of goods being transported, may be packed with more data — for instance, on
Banks, FIs come together for faster resolution of stressed accounts – Business Line
In a bid to expeditiously tackle stressed assets aggregating ₹3.10 lakh crore in the ₹50-500-crore category, 24 banks on Monday signed an Inter-Creditor Agreement (ICA)
GST takes sheen off under-construction properties – Business Line
Goods and Service Tax (GST) has pulled down sales of under-construction properties by 30 per cent since the new tax regime was implemented last July.
Fine-tuning GST – Business Line
The GST Council’s decision to reduce rates on 15 items from 28 per cent to 18 per cent makes economic sense, and therefore should not
Turnover, not investment, will define MSMEs – Today’s Paper – Business Line
Micro, small and medium enterprises (MSMEs) will soon be defined based on their annual turnover if a new Bill introduced in the Lok Sabha on
Saying ‘Aye’ to lending to bottom-of-the-pyramid units – EMERGING ENTREPRENEURS – Business Line
Saying ‘Aye’ to lending to bottom-of-the-pyramid units T- Aye Finance also helps micro-enterprisesfind bigger markets for their products Sanjay Sharma and Vikram Jetley, both with
24 lenders sign an inter-creditor agreement for faster NPA resolutions | Business Standard News
Two dozen lenders including State Bank of India and Punjab National Bank on Monday signed an inter-creditor agreement (ICA) to speed up the resolution process of stressed assets in the range of Rs
Insolvency process: CoC open to new bids for Deccan Chronicle, says NCLT | Business Standard News
The Committee of Creditors of Deccan Chronicle Holdings Limited (DCHL) was open to examining fresh resolution applications, including a modified resolution plan submitted earlier this month by Srei group’s
Right move, wrong way | Business Standard Editorials
The Goods and Services Tax Council took a series of decisions on Saturday last week, which were all steps in the right direction. The most
Amazon, Flipkart among e-tailers under investigation for collection of extra GST after November 15 rate cuts – The Financial Express
The indirect tax department’s audit division is investigating scores of cases where major e-commerce operators like Amazon and Flipkart are suspected to have collected excess goods and services tax
Moving ahead: Insolvency amendment Bill introduced in Lok Sabha – The Financial Express
Finance minister Piyush Goyal on Monday introduced a Bill to amend the insolvency law that would recognise home buyers as financial creditors and allow genuine
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