19th February 2K20
Economic Times
Ø Telcos oppose Trai's tariff plan transparency
Ø GAIL wants India's dirty fuel-reliant steel plants to guzzle gas
Ø Russian govt backed fund shows interest in Jet Airways
Ø 'PE, VC investments hit record high of $48 bn in 2019'
Ø GFG Alliance acquires Adhunik Metaliks and Zion Steel
Ø India Ratings downgrades Vodafone’s NCDs
Ø FM allays fears of price rise due to virus outbreak
Ø PFC-REC merger stuck, Centre reaching out to PSUs to pick up stake
Ø Irdai chief asks general insurers to cut expenses, improve efficiency
Ø Cut in lending rates insufficient to boost credit growth: BofA Securities
Ø IBBI proposes simultaneous CoC voting on two or more resolution plans
Ø UTI MF, Nippon India MF side pocket Vodafone Idea exposure of Rs 413 cr
Ø EESL inks pact with BSNL for 1,000 EV charging stations across country
Business Line
Ø Indian Pharma industry has only 2-3 months stock of Chinese APIs
Ø ‘Hike in import duty could lead to 100% surge in MRP of toys’
Ø PE/VC-backed startups created over 26 lakh jobs in 2019: Report
Ø London-based GFG Alliance acquires Adhunik Metaliks, its arm to mark India entry
Ø Vodafone Idea’s cash balance is just $1.8 billion, AGR liability of $6.3 billion: Report
Mint
Ø Reliance, Saudi Aramco accelerate refinery stake sale talks
Ø GAIL in talks with Tata Steel, SAIL to spur gas demand
Ø SAT gives Sebi time till 10 March to pass final order in CG Power matter
Ø Yes Bank to be dropped from Nifty 50 from 27 March; Shree Cement to move in
Ø Govt pegs record wheat output at 106.21 million tons for 2019-20
Ø Sun Pharma, others on regulator’s radar as drugs flunk quality tests
Financial Express
Ø Jet Airways stake sale: Deadline for bids extended to March 10
Ø Ind-Ra revises outlook on textile sector to negative from stable
Ø India’s sugar export may cross 5 million tonne this year: ISMA
Ø HCL Tech bags IT deal from New Zealand’s Fonterra Co-operative
Deccan Chronicle
Ø Moody's revises India GDP forecast to 5.4 pc in 2020
Ø Sensex, Nifty clock fourth successive loss under AGR, coronavirus clouds
Ø Kumar Mangalam Birla meets telecom secretary in Vodafone Idea rescue mission
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Finance minister said that the government was considering suggestions received on taxation liability imposed on unit holders of REITS and InvITs after the Budget reverted to the classical system of taxing dividend in the hands of recipient.
Taxpayers availing of the Vivaad Se Vishwas Scheme will have to pay only half of the disputed amount in cases where the income tax department has filed an appeal, as per recent amendments to the Direct Tax Vivad Se Vishwas Bill that were cleared by the Cabinet. The Bill, which was introduced in the Lok Sabha during the just-concluded Budget session, is expected to come up for passage in the next session beginning March 2.
GST portal to file GSTR - 9C for the year 2018-19 is now operational. As on date the due date to file the same is March 31, 2020. In case of any difficulties please send email to gst@icai.in with a copy to rk@icai.in
Sebi said it is actively looking at re-categorisation of mid cap and small cap mutual fund schemes. The move is expected to permit these products to invest in a wider set of stocks, according to industry experts. In order to ensure uniformity in respect of the investment universe for equity schemes, the regulator, in 2017, had defined large cap, mid cap and small cap.
MCA has notified the Nidhi (Second Amendment) Rules, 2020 which shall come into force on the date of their publication in the official Gazette i.e 14-02-2020.
SEBI Introduces New System to Detect Broker Misuse of Client Securities. An online register will record brokers' holdings of client securities, clubbing all such information collected by exchanges, depositories and clearing corporations for all types of trades.
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👉🏻Income Tax dept issues notices to directors of defaulting Cost
(Directors are being held accountable for the tax compliance of the companies they work for under section 179 of the Income Tax Act dealing with recovery of dues.)
👇🏻 👇🏻 👇🏻
http://bit.ly/324Ymms
👉🏻Search and Inspection under GST
(Generally in case of search mostly shortage of Stock found in premises or without bills transport goods found which is confiscated but it is rarely excess stock found in Premises)
👇🏻 👇🏻 👇🏻
http://bit.ly/325EkrO
👉🏻Filing of forms by IRP, RP or Liquidator in Registry (MCA21)
(MCA Circular regarding Filing of forms in the Registry (MCA-21) by the IP, IRP or Resolution Professional RP or Liquidator appointed under IBC, 2016.
👇🏻 👇🏻 👇🏻
https://youtu.be/MRzpTTrDzQ4
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👉 Accounting and Billing Software Providers can enrol with GSTN to receive regular updates on e-invoice
https://www.gst.gov.in/newsandupdates/read/354
👉 A webinar has been scheduled on19th February 2020 at 4.30 pm IST on the topic Appeal in Tamil
https://www.gst.gov.in/newsandupdates/read/355
👉 Advisory for Opting in for Composition (filing Form GST CMP-02)
https://www.gst.gov.in/newsandupdates/read/356
👉 Due dates of filing Form GSTR 3B, for the month of January, 2020
https://www.gst.gov.in/newsandupdates/read/357
👉 Educational Material on Indian Accounting Standards 20, Accounting for Government Grants and Disclosure of Government Assistance - (18-02-2020)
https://www.icai.org/new_post.html?post_id=16331&c_id=240
👉 ICAI invites suggestions/comments from members on Consultation paper to examine the existing provisions of law and make suitable amendments therein to enhance audit independence and accountability by 12.00 Noon on 21st February, 2020. - (18-02-2020)
https://resource.cdn.icai.org/58436icaimcp180220.pdf
👉 National CSR Awards Pdf1.8 MB)
http://www.mca.gov.in/Ministry/pdf/InviNomNCSRA_24122019.pdf
👉 Invitation for inputs for India's National Action Plan on Business and Human Rights Pdf1.8 MB)
http://www.mca.gov.in/Ministry/pdf/NationalPlanBusinessHumanRight_13022019.pdf
👉 Stocks in news: YES Bank, Voda Idea, Vedanta, Airtel
https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-the-news-yes-bank-vodafone-idea-shree-cement-vedanta-and-bharti-airtel/articleshow/74201112.cms
👉 Live: Sensex off opening high, up 250 points
https://economictimes.indiatimes.com/sensex-nifty-live-today-2020-02-19/liveblog/74201234.cms
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👉 NCLT Grants Three Days To Cox & Kings’ Suspended Directors To Submit Records - The National Company Law Tribunal on Monday granted three days to suspended directors of Cox & Kings (India) Ltd. for submitting statutory information and records to the resolution professional. The resolution professional of the tours and travel company told the tribunal that the former directors and the erstwhile auditor are not submitting statutory information and records, which is making the insolvency process difficult. The Mumbai bench of the NCLT in October 2019 admitted an insolvency application against Cox & Kings after the tour operator defaulted on its debt obligations to the company's financial creditor, Ratan India Finance Ltd.
👉 HDIL resolution process: NCLT allows exclusion of over 100 days - The dedicated bankruptcy court has allowed exclusion of around 106 days from the corporate insolvency resolution process (CIRP) of Housing Development and Infrastructure
We are seeking exclusion of about 106 days, which will help us to complete the time-bound process smoothly,” Abhay Narayan Manudhane, the resolution professional, said through his counsel. “In September, NCLAT had stayed the formation of the committee of creditors of the company, but subsequently that stay was lifted in the month of December and that time we are seeking to be excluded from CIRP.
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