The government has backed up and there’s no way the government can allow any bank to default,” financial services secretary Rajiv Kumar said. Express photo
Any cut in fuel price will be at the cost of welfare schemes, says Nitin Gadkari | The Indian Express–24.05.2018
Union Minister and senior BJP leader Nitin Gadkari has said subsidising petrol and diesel to bring down their rising retail prices will take money away from social
RBI | Bad Loan: SBI chief says RBI bad loan directive will discipline governments and borrowers–Economic Times–23.05.2018
State Bank of India chief has hailed the recent Reserve Bank of India (RBI) directive on bad loans stating that it will prompt state and
SME and retail credit should grow at 18-20% per annum for next 10-15 years: Rashesh Shah – The Economic Times–23.05.2018
Edelweiss has a run rate of 35-40% growth. Do you think that kind of a run rate is here to stay for next three, four,
Rs 450-crore Input Tax Credit: Intelligence unit unearths fake GST bills business – The Financial Express–23.05.2018
The intelligence unit for the goods and services tax (GST) has unearthed a nexus among businesses that use fake bills to claim input tax credit
Tax department sends notices to GST non-filers – The Financial Express–23.05.2018
After months of large scale non-compliance in filing of the summary return (GSTR-3B) by taxpayers under Goods and Services Tax (GST), the tax department has
Tata Steel’s takeover of Bhushan Steel: IBC’s ‘operational’ test case | Business Standard News–23.05.2018
A series of tweets from Piyush Goyal, the officiating minister in the ministry of finance, on Friday set the tone of government narrative on the
Insolvency: NCLAT puts on hold resolution process for Essar Steel | Business Standard News–23.05.2018
The National Company Law Appellate Tribunal (NCLAT) has put on hold the resolution process for Essar Steel. The appellate tribunal has asked the resolution professional, Committee of Creditors (CoC) and
NCLAT rejects Dalmia Bharat’s plea for status quo on bids for Binani Cement | Business Standard News
The National Company Law Appellate Tribunal (NCLAT) on Tuesday declined to order a status quo on the bids to maximise the offer for debt-ridden Binani Cement by the two
Working, but too slowly: Bankruptcy process must keep to its own timetable | Business Standard Editorials
The successful sale of Bhushan Steel to Tata Steel on Friday was the first big case to be resolved under the new bankruptcy framework. Among the National Democratic Alliance
Input tax credit must be reversed when finished goods are destroyed: Expert | Business Standard News
Q. We are manufacturers of chemicals. The goods produced in a particular batch are not of correct quality. We cannot sell it or use it.
GST: Lack of item-wise tax collection data proves a hurdle – Business Line
Even after 10 months of the Goods and Services Tax (GST) rollout, tax authorities are not in a position to tell which sector or item
Export obligation under EPCG scheme made more flexible – Business Line
In a move that will come as a relief to exporters, the government has decided to make the rules for meeting of export obligation under
Bhushan breakthrough – Business Line
Given that other NCLT cases may face a tougher road, the rules must be tweaked to ensure that the widest possible range of bidders participate
Don’t go back on GST – Business Line–23.05.2018
Tweak software issues and iron out ambiguities The announcement last week by the Malaysian government that it would be scrapping GST got some people in
Insolvency and Bankruptcy code: Over 2,100 companies settle Rs 83,000 crore bank dues
Highlights Over 2,100 companies have cleared their outstanding amounts, a majority of which came after the government amended the IBC The IBC rules barred promoters
Essar Steel insolvency case: NCLAT asks creditors, RP and NCLT not to pass any order | The Indian Express
Top global players have submitted bids to acquire debt-laden Essar Steel. A decision on the bankrupt Essar Steel was pushed back further on Tuesday, as
Binani bids: NCLAT rejects Dalmia plea | The Indian Express
The next meeting of the CoC is expected to be either on Wednesday or Thursday. While the National Company Law Appellate Tribunal (NCLAT) on Tuesday
Income tax: Shell firms: I-T department to file pleas in NCLT to extract tax due – The Economic Times–22.05.2018
The Income Tax (I-T) Department is an “aggrieved creditor” to many de-registered shell companies and will petition the National Company Law Tribunal (NCLT) to recover tax dues of crores
Crisis-hit Jaiprakash Associates says no fraud in providing Jaypee Infra’s land as collateral – The Financial Express–22.05.2018
Crisis-hit Jaiprakash Associates Ltd (JAL) today said the company provided certain land parcels of its subsidiary Jaypee Infratech as additional collateral to its lenders and
