©orporate Updates on July 9, 2019
Ø Tata settles $7.3 bn dues to complete mobile biz sale
Ø Airbnb had direct economic impact of $150 mn in 2018
Ø Sterling & Wilson gets nod for Rs 4,500 cr IPO
Ø Public shareholding rule to bring additional Rs 57,000 crore to Tata Sons
Ø SENSEX tanks 793 points; Nifty holds 11,550; India VIX up 7%
Ø Mindtree dips 10% on resignation of 3 co-founders as L&T takes control
Ø RIL ties up with Turkish co to make eco-friendly fabrics
Ø IndiGrid completes acquisition of two power transmissions assets from Sterlite Power
Ø Maruti shares tank over five per cent; other auto scrips too fall
Ø OMCs may save ₹500 crore a year on withdrawal of merchant discount rate
Ø British Airways faces $229 million fine over data breach
Ø IOC, GAIL pact to take stake in Adani’s Dhamra LNG project expires, no investment made: Dharmendra Pradhan
Ø India may raise Rs 68,000 crore selling bonds overseas this year
Ø *Govt infused over Rs 3.15 lakh crore into PSBs between FY09 and FY19*
Ø PNB shares drop over 11 per cent after BPSL fraud case
Ø Rupee slips 16 paise to 68.58 against US dollar
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👉CBDT informs that it will "Suo Motu" allot a Fresh PAN to a person who files I-T returns with only Aadhaar as part of a new arrangement to link the two databases. PAN is "Certainly Not Dead" and the recent Budget announcement is just an "Additional Facility".
👉Union Finance Minister Nirmala Sitharaman is scheduled to address the Post-Budget Meeting of the RBI's Central Board of Directors, Today on July 8 and highlight the key points of the Budget, including the fiscal consolidation roadmap.
👉RBI announces an Additional Liquidity Facility to Banks for Purchase of Assets from and on-lending to NBFCs and Housing Finance Companies (HFCs). This will enable banks to avail additional liquidity of ₹1,34,000 Crore. This would be available within the Facility to Avail Liquidity for Liquidity Coverage Ratio (FALLCR) within the mandatory SLR requirement.
👉SEBI may give Listed Companies 2 years to Increase Minimum Public Shareholding from 25% to 35%, a proposal floated in the Union Budget 2019-20. SEBI, however, concerned with implications of Takeover Code is examining all the modalities and will issue a discussion paper soon, to start public consultation.
👉SEBI will now have to transfer 75% of its surplus from the General Fund every year to the Consolidated Fund of India that is managed by the Central Government. An announcement to this effect was made in the Budget via a proposed amendment to SEBI Act 1992.
# Gujarat High Court decision in case of M/s AAP & Co. held that GSTR - 3B is not a return under section 39, hence there is no due date for availment of missed out credits.
# Upcoming Due Dates : 10-07-2019
- Issue of TDS Certificate for salary for the financial year 2018-19
- GSTR 8 for E-Commerce operators for the m/o June 2019
- Filing GSTR-7 (for assessee who is required to deduct TDS under GST) for the m/o June 2019