22.06.18 Economic News
👉GST: CBIC modifies Procedure for Interception of Conveyance and clarifies that only Such Goods or Conveyances should be detained in respect of which the Violation of the GST provisions has been made vide Circular No. 49/23/2018- GST, Dated 21-06-2018
👉Kerala Abolishes Plantation Tax and Announces Moratorium on Agriculture Income Tax
👉Enforcement Directorate (ED) has sought information on Offshore Investments by Directors of RNT Associates, a Closely Held Firm which functions as a Family Office and Investment Vehicle of Ratan Tata
👉Bank of Baroda goes to CBI with Loan Fraud Charges Against Bankrupt Pipes Maker “PSL Ltd”, for siphoning off about Rs 700 crore from a Dedicated Account Linked to GAIL Projects, the payments from which were due to the Lender and not the Insolvent Company
👉SEBI announces a new set of IPO reforms, reducing the timeline for announcement of IPO Price Band , a Recast of the Share Buyback Regulations and revamp of the Governance Framework for Stock Exchanges and Depositories. It also signals move to bring CAs & CS under its ambit.
👉RBI asks Banks to Upgrade Software at ATMs for Greater Security by June 2019 or Face Penalty
👉Punjab National Bank names 54 Officers in its Internal Investigation Report on the Nirav Modi Scam
👉Serious Fraud Investigation Office (SFIO) is looking into a Rs 1420-crore transaction carried out by Ruchi Soya with a Singapore-based company on the suspicion that the latter was a related party and that the nature of the transaction was irregular
22nd June 2K18
Economic Times
Ø India raises customs duty on 30 American goods
Ø Sebi cuts IPO price band timeline, rejigs buyback code
Ø ED rejects lenders’ plea to sell UB shares
Ø Foreign investments of RNT under lens
Ø Govt looking into fresh revelations in Panama Leaks
Ø ICRA upgrades rating outlook for Jindal power to Stable
Ø Sebi yet to receive ICICI reply on Kochhar issue: Tyagi
Business Standard
Ø NSE to introduce corporate governance code stricter than existing laws
Ø JSW Steel plans bid for ArcelorMittal's Galati plant in Romania
Ø Competition Commission of India okays Bayer-Monsanto merger but with riders
Ø CBDT proposes clear-cut timelines under transfer pricing
Ø Assam Co bid submission date postponed to June 27
Buisness Line
Ø SEBI to plug gaps that led to leak of ASM stocks: Tyagi
Ø NSE co-location case: SEBI Chairman says enforcement action to be completed soon
Ø Dollar scales 11-month peak, oil slides ahead of OPEC meet
Ø Cleartrip acquires Saudi Arabia’s Flyin
Ø Swiggy raises $210 m from Naspers, DST Global
Ø Microsoft, EY launch blockchain tool for managing royalties
Mint
Ø Govt may let carmakers import certified vehicles
Ø NSE-SGX case: Arbitrator has pulled off a mean feat
Ø RITES IPO fully subscribed on Day 2, issue to close on Friday
Ø Modi govt plans ‘Pariwartan’ scheme for power sector revival
Ø Some traders had unfair access to NSE data: Sebi
Financial Express
Ø HCL Tech inks global IT infrastructure deal with Nokia
Ø India showed no signs of domestic, financial risks in 3 years: Nomura
Ø Indian public sector needs some fixing for true Cloud adoption
Ø Resolution professional turns down the bulk of sister firms’ claims
Financial Chronicle
Ø RBI sticks to Feb 12 circular on power sector NPAs
Ø Consumer stocks outrun global peers on valuation matrix
Ø Global HNWI surpasses $70 trillion
Ø FinMin open to raising PSB recapitalisation
Ø Core Energy signs security equipment deal with Russian