Corporate Snippets on Dec 27
Ø Govt. may eye Rs 1.5 lakh crore divestment in FY21: Sources
Ø IL&FS default occurred due to laxity of ICRA, CARE: SEBI
Ø Govt. plans big push to private coal mining
Ø India leads Asia-Pacific power industry tenders in Nov
Ø Slump could drag credit growth to 58-yr low
Ø GST officials unearth Rs 241-cr tax evasion through fake invoicing
Ø RBI to buy, sell G-Secs of Rs 10,000 cr each via special open market ops
Ø Fund raising via IPOs plunges 60% to Rs 12,362 cr as economy sputters
Ø Ahead of merger, Allahabad Bank gets Rs 2,153-cr fresh capital from govt
Ø ONGC gets green nod for Rs 3,500 cr onshore exploration project in Assam
Ø India set to cross 100 GW renewable energy capacity mark in 2020
Ø CRISIL upgrades Air Works long-term ratings to BBB/Stable
Ø Ashok Leyland, Citicorp Finance join hands for financing commercial vehicles
Ø Aye Finance raises ₹107 crore from BlueOrchard
Ø BHEL, HDFC, Kotak Mahindra, 5 others to list commercial papers on BSE
Ø Publicis Media bags ₹600 crore Hero MotoCorp media mandate
Ø Railways fares, freight rates to be rationalized says rail board chairman
Ø CARE downgrades credit rating of HAL’s ₹7,300 crore bank facilities
Ø India is still halfway from realizing GST’s full potential
Ø RBI tells banks to cap stake in insurance companies at 30%
Ø Agri goods can fetch India additional $97 billion in exports: FAO
Ø RBI to issue guidelines on corporate governance
Ø FCI facing food storage crisis; costs to spiral
Ø TRAI extends deadline for comments on issue of transparency in publishing of tariff offers
Ø Hyper local business to drive e-commerce
Ø Independent directors must enrol with online data bank
Ø SENSEX tanks 297 points on F&O expiry
Ø Gold climbs Rs 116 tracking strong global trends
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👉🏻Anti-Evasion wing of CGST Delhi detects GST fraud of Rs 241 Cr
(The investigations have unearthed a well organised racket of creating bogus firms, issuing fake invoices and bogus e-way bills to generate and encash tax credits)
👇🏻 👇🏻 👇🏻
http://bit.ly/39iwLRI
👉🏻SEBI penalises CARE and ICRA on lapses in rating IL&FS
(In a rare instance the regulator levied a penalty of Rs. 25 lakh each on two rating agencies ICRA ltd and Care Ratings Ltd for not exercising due-diligence and lapsing on their duties to investors by not taking timely rating actions.)
👇🏻 👇🏻 👇🏻
http://bit.ly/2MxaS7P
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Directorate of Income tax (system) has directed to the Assessing officers to open the window to accept the assessment proceedings reply till 29.12.2019.
GST Council will set up a grievance redressal mechanism for taxpayers. The decision was taken at the GST Council meeting that a structured grievance redressal mechanism should be established for the taxpayers under GST to tackle grievances on GST-related issues of specific and general nature.
Non-filing of GST returns may lead to attachment of bank accounts and even cancellation of registrations. This is part of the Standard Operating Procedure (SOP) issued by the Finance Ministry to be followed in case of non-filing of returns. The GST law makes it mandatory for a registered person to file returns either monthly (normal supplier) or on a quarterly basis (supplier opting for composition scheme).
National Company Law Appellate Tribunal (NCLAT) has dismissed the petition of the income tax department raising objection over the approval granted by the Ahmadabad bench of the National Company Law Tribunal to Reliance Jio to hive off its fiber and tower business into two separate units.
RBI has extended supervision to auditors, banks and rating companies to prevent defaults and ensure broader financial stability. “Apart from strengthening the existing four pillars of supervision — on-site examination, off-site surveillance, market intelligence and reports received from statutory auditors.
CDSL through its letter written to the President of ICSI has recognized and authorized the Company Secretaries in Practice to issue Net worth Certificate to be submitted by the issuers at the time of admitting of Securities in CDSL.
Ministry of Finance (MOF) has notified the Indian Stamp (Collection of Stamp Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019 which shall come into effect from January 09, 2020, to notify the Stamp Duty to be levied in case of Transfer of shares in Demat form.
