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–23.05.2018
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
Input tax credit must be reversed when finished goods are destroyed: Expert | Business Standard News–23.05.2018
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–23.05.2018
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–23.05.2018
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–23.05.2018
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–Times of India–23.05.2018
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–23.05.2018
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–23.05.2018
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–23.05.2018
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
Canteen services provided by outside vendors to attract 18% GST, says Authority for Advance Rulings – The Financial Express–22.05.2018
Canteen services provided by outside vendors in offices and factories will attract 18 per cent GST, said the Authority for Advance Rulings (AAR). The Gujarat
Fasal Bima Yojana is failing, fix it – The Financial Express–22.05.2018
With just around 45% of the claims made by farmers over the last three crop seasons—data for the last rabi season is not available—paid by
NDA rakes in premium while UPA-II struggled with auto fuel subsidy – Business Line–22.05.2018
With retail fuel prices at an all-time high, there has been a clamour from industry bodies for the Centre to step up and offer some
NCLAT issues notice to Tata Steel on eligibility of bid for Bhushan Steel – Business Line–22.05.2018
Less than week after sealing the deal to acquire Bhushan Steel, Tata Steel has received a notice from the National Company Law Appellate Tribunal on
Finmin not seeking relaxation of RBI’s PCA framework, PSBs told to focus on core biz – Business Line–22.05.2018
The finance ministry is not seeking any relaxation from RBI in its prompt corrective action (PCA) framework and has instead asked banks to adopt differentiated
More action needed to help exporters | Business Standard Column–22.05.2018
Last Wednesday, the rupee depreciated to over 68 a dollar; the Reserve Bank of India (RBI) intervened to help it gain some strength and it closed at 67.35
Default resolved: Acquisition of Bhushan Steel under IBC is a milestone in bankruptcy proceedings–Times of India–22.05.2018
Tata Steel last week announced that it had completed the acquisition of Bhushan Steel, a company which had the dubious record of being one of
Miles to go for the new bankruptcy code – The Hindu–22.05.2018
Good news has finally started to roll out of the refurbished bankruptcy courts. Tata Steel acquired 73% stake in the bankrupt firm Bhushan Steel for
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