5 september 2019
Economic Times
Ø Govt may miss fiscal deficit target despite RBI's money
Ø Service activity slows in August, PMI declines to 52.4
Ø CRISIL cuts GDP growth to 6.3% in fiscal 2020
Ø HC grants relief to KPMG firm BSR in IL&FS case
Ø Wipro bags $300 mn deal from ICICI Bank
Ø NCLAT asks Jet IRP to cooperate with Dutch Court
Ø Mandatory to link loans for housing, autos, MSEs to external benchmark: RBI to banks
Ø Synergy Group, RA Treasury make the cut for reviving defunct Jet Airways
Business Standard
Ø India to manufacture spare parts, components for Russian defence equipment
Ø Auto industry stares at tough year due to transition to BS-VI norms: SIAM
Ø Lupin, Boehringer Ingelheim ink $700-mn deal for anti-cancer drug
Ø Moody's upgrades PNB's outlook to 'positive' from 'stable'
Ø Yes Bank settles 'selective disclosure' of asset quality case with Sebi
Business Line
Ø H-Energy and Russia’s Novatek sign LNG cooperation pact
Ø Weak demand to hit steel cos profit this fiscal: Report
Ø Sharp fall in cement demand likely due to lower government spending
Ø India, Russia agree to step up trade to $30 bn by 2025
Ø BPCL to invest Rs 25,000 cr on an Ethylene cracker unit at Rasayani
Mint
Ø RBI asks banks to link retail and MSME loans to external benchmark from 1 Oct
Ø JLR to launch 30 new vehicles in China over next 2 years
Ø Moody's affirms ratings of five PSU banks following merger announcement
Ø Unitech asked to clear ₹2,734 crore dues in 15 days or lose Noida land
Ø Volkswagen introduces Polo and Vento facelifts in India
Financial Express
Ø Modi govt in talks with World bank, ADB, KfW for low cost capital to MSMEs
Ø FPI flows to remain under pressure despite tax surcharge reversal, benign monetary policy: Ind-Ra
Ø AMCHAM bats for free-trade pact between India, US
Ø India got most migrant worker money last year; leaves behind China, US, others
Deccan Chronicle
Ø AMCHAM bats for free-trade pact between India, US
Ø Russia plans to set up above 20 nuclear power units in India in next 20 years
Ø Gold gains Rs 122, silver jumps Rs 2,070
Ø Maruti to halt production at Haryana plants for 2 days amid auto crisis
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Why Director Identification Number (DIN) is important?
A Director who does not possess DIN would not be legally entitled to participate in the proceedings of the meeting of Board of Directors and consequently, a resolution passed by a Board of Directors of which no Director possesses a DIN would be no resolution in the eyes of law and such Board Resolution would be a nullity in the eyes of law.
Read full article at : https://dasgovernance.com/2019/09/05/why-director-identification-number-din-is-important/
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CBDT had on August 30 issued a consolidated notification giving a comprehensive summary of the mechanism under which startups would receive exemption from Section 56(2)(viib) of the Income Tax Act. But it did not provide a fix for some outstanding issues, industry insiders said.
AO not justified in reopening of Income Tax case based on mere report of investigation wing without independent application of mind. M/s. Neelkanth Plywood Pvt. Ltd. Vs Income Tax Officer (ITAT Delhi)
Federation of Automobile Dealers Associations (FADA) has called for a cut in GST rate on vehicles to 18% from 28% to revive demand, pointing out that despite the onset of festive season earlier this week, there has not been any significant improvement.
ICAI On-line facility for seeking change of Centre/Group/Medium for appearing in CA examinations. Details in respect of the facility are contained in the announcement dated 2nd February 2015 hosted on www.icai.org.
Register for ICAI International Conference, 6-7 December 2019, NCPA, Mumbai - (02-09-2019). For Regn contact Secretariat New Delhi – 110002 Ph: +91 11 3011 0487 Email: ic2019@icai.in
