21 March 2020 News and Updates

Corporate Snippets on March 21

📝 Indian banks seek more time over bad loan classification

📝 Stock brokers allowed to work from home for the first time

📝 Govt. mulls late repayment of loans for MSMEs to tide over coronavirus impact

📝 Tata Motors-owned Jaguar Land Rover suspends production in UK amid coronavirus pandemic

📝 Ashoka Buildcon arm executes concession pact with NHAI for Rs 1,036 crore road project

📝 14 firms get license to evaluate COVID-19 tests kits

📝 Jio tops mobile broadband speed chart, Vodafone in upload in February: TRAI

📝 Coronavirus outbreak: FM Nirmala Sitharaman takes stock of situation

📝 SEBI unveils measures to tackle market volatility, curbs short selling

📝 Hindustan Unilever sets aside Rs 100 crore to fight Covid-19 in India

📝 Japan's Kubota Corp to acquire 10% stake in Escorts for Rs 1,042 crore

📝 L&T turns to international business, financial services to power growth

📝 Cabinet passes a policy to promote manufacture and growth of bulk drugs

📝 Foreign exchange reserves fall $5.35 billion; first drop in six months

📝 RBI buys bonds worth Rs 10k cr, to conduct 2 more OMOs of Rs 30k cr

📝 Rupee drops by 8 paise to fresh life-time low of 75.20 vs US Dollar

📝 Airlines may ground 68% planes amid coronavirus outbreak, says Govt.

📝 Soap manufacturers keep off price hikes for now amid coronavirus spread

📝 Centre tells states to enhance hand sanitizer production as demand soars

📝 Banks push digital offerings, insurance amid corona scare

📝 Price hikes, drop in input costs help cement industry to post positive margins: CARE Ratings

📝 DoT holds meeting as industry seeks movement of essential staff, other waivers for biz continuity

📝 BSNL offers free broadband for a month to support work from home

📝 CII writes to PM seeking fiscal stimulus, tax cuts to combat coronavirus impact on economy

📝 RBI appoints R Gandhi, Ananth Narayan as additional directors on Yes Bank board

📝 Ready to supply uninterrupted power amid COVID-19 threat: NTPC

📝 Rajnath Singh speaks with US counterpart on virus cooperation

📝 RBI chalks out contingency plan for smooth functioning of services

📝 Act fast, next few weeks crucial: PM Narendra Modi

📝 UK court deadline to pay $100 millon ends for Ambani

📝 Karnataka Govt. asks Bengaluru tech firms to close non-key operations

📝 COVID-19 Janta curfew: Railways cancels 3700 trains on Sunday

📝 SBI moves to extend emergency credit line

📝 Coronavirus: Tata group companies commit full payment to daily wage earners

📝 Indian Agri export business hit hard by outbreak in European Union, West Asia.

Ø  Virus-hit India mulls easier loan, tax rules

Ø  Ambanis marginally increase stake in Reliance

Ø  Govt working on financial package for virus-hit sectors

Ø  'Covid-19 outbreak to hit growth, widen fiscal deficit'

Ø  L&T-run investment trust acquires 8 Sadbhav road projects

Ø  DoT to get 20 year time for payment of AGR dues

Ø  Ind-Ra revises rating watch on YES Bank to 'evolving' from 'negative'

Ø  YES Bank gets Rs 60k-cr line of credit from RBI to resume operations

Ø  Power demand shows signs of recovery as total generation rises by 11%

Ø  30.8 mn in tourism, hospitality may lose jobs because of coronavirus

Ø  Dilip Buildcon bags Rs 860-crore road project in Chhattisgarh from NHAI

Ø  Covid-19 impact: Next quarter critical for oil industry

Ø  Coronavirus impact: India’s fuel demand drops 11 per cent in March

Ø  Dr Reddy’s launches naloxone hydrochloride injection in US

Ø  Tata Power expands rooftop solar service to 90 cities

Ø  Supreme Court ruling brings Vodafone Idea closer to insolvency: Bernstein

Ø  Coronavirus: Govt caps prices of alcohols used in making hand sanitizers

Ø  Anil Ambani meets ED officials on Reliance Group's exposure to Yes Bank

Ø  Panel constituted to prescribe fresh fiscal consolidation road map for centre

Ø  IndInfravit completes acquisition of Sadbhav’s road assets for ₹6,300 crore

Ø  Govt eases import restrictions for certain chemicals, aviation gasoline

Ø  Bid to soften blow: Govt, RBI in talks for relief to critical sectors

Ø  Indian Bank NPA to rise, no change in board after merger with Allahabad Bank

Ø  Sensex ends 581 points lower, Nifty at 8,263 as covid 19 cripples global businesses

Ø  SEBI allows companies to report Q4, FY20 results by June 30

Ø  Countries that shut down and do testing could bounce back in weeks: Bill Gates

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New web EForm for COVID-19 Compliance by Companies/LLPs

In order to generate greater awareness and confidence on our state of readiness, the MCA is in the process of developing and deploying a simple web form for companies/LLPs to confirm their readiness to deal with the COVID-19 threat. The web form named CAR (Company Affirmation of Readiness towards COVID-19) should be filed by an authorized signatory of Companies & LLPs. CAR -2020 shall be deployed on the 23rd March, 2020. All companies/LLPs are requested to report compliance using the above mentioned web service on the 23rd instant.

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👉 CBDT notified DTVSV Rules, 2020. Online submission of Form 1 and Form 2 are enabled in e-Filing.

https://www.incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Vivad_Se_Vishwas_PDF_Links/Notification.pdf

👉 Pr. DGIT(Systems) issued Notification on procedure to filing online Form 1 and Form 2 under Direct Tax Vivad Se Vishwas scheme

https://www.incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Vivad_Se_Vishwas_PDF_Links/Notification_12-2020_DTVsVA_2020.pdf

👉 Re - Opening of On-line Facility for Seeking Change of Examination Centre / Group / Medium for appearing in May 2020 CA Examinations. - (19-03-2020)

https://resource.cdn.icai.org/58800exam190320.pdf

👉 Extension of last date of application for the post of AGM, and below in NFRA on deputation/short term contract basis from 11/03/2020 to 31/03/2020 

http://www.mca.gov.in/Ministry/pdf/ExtensionCGM_19032020.pdf

👉 Extension of last date of application for the post ofCGM, GM, and DGM in NFRA on deputation/short term contract basis from 11/03/2020 to 31/03/2020.

http://www.mca.gov.in/Ministry/pdf/ExtensionCGM_19032020.pdf

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👉🏻NCLT not to accept any fresh filings till March 27

(All benches of the National Company Law Tribunal (NCLT) will not accept fresh filings till March 27, said a notification) 

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https://bit.ly/2WrZakn

👉🏻Important RBI Circulars for Bank Branch Statutory Audit

(List of Important RBI Circulars for Bank Branch Statutory Audit Compiled by CA. Ajay Kumar Jain)

👇🏻 👇🏻 👇🏻

https://bit.ly/2IZMSrD

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ICAI council approves to open window for change of their Examination Centre for May 2020 exams due to COVID 2019 for 3 days i.e., 21st, 22nd & 23rd March 2020.