Ø Employees provident fund members withdraw Rs 39.4k Crore during March 25-August 31
Ø RBI asks banks to fully automate NPA recognition process
Ø No proposal for raising FII limit in PSBs to 49 per cent: Anurag Thakur
Ø Banks' NPAs in large industry, services fall 31% in over two years to Rs 4.36 Lakh Crore
Ø India's oil import bill declines by two-third on fall in international prices: Dharmendra Pradhan
Ø Income Tax Appellate Tribunal nixes tax claim on Vodafone rights issue
Ø Debt monetisation by RBI could undermine investor confidence: S&P
Ø Govt weighs dropping debt condition in plan to sell Air India: Report
Ø 20 CPSEs, their units in pipeline for strategic sale: Finance Ministry
Ø Nvidia to buy UK Chipmaker Arm from Softbank in $40 Billion deal
Ø Carlyle, SoftBank put on waiting list for Reliance Retail stake: Report
Ø L&T bags multiple orders across business segments in domestic market
Ø Amid demand revival, steel cos hike prices by ₹2,500/Tonne
Ø Government proposes fresh expenditure of ₹1.67 lakh crore
Ø US fund drags LVB, Fortis, IIH to court over 2017 deal
Ø Dabur India forays in the edible oil segment
Ø Ashok Leyland takes on M&M with new pickup Bada Dost
Ø Oil India undertakes well control operation at Baghjan
Ø Govt moves to tighten regulation of co-op banks
Ø Finance minister introduces Banking Regulation (Amendment) Bill in Lok Sabha
Ø India to be largest source of energy demand growth: BP Energy Outlook
Ø India needs a new strategy for an era of a weakening US dollar
Ø Deutsche Boerse AG sells 2.67% stake of BSE Ltd for ₹66 Crore
Ø Bank credit grows by 5.49%, Deposits by 10.92%: RBI data
Ø WPI inflation rises for first time since March; August WPI rises this much
Ø FDI inflow from China declines to $163.77 Million in FY20: Anurag Thakur
Ø CBI books Mumbai-based Ess Dee Aluminium Ltd for cheating SBI to the tune of Rs 338 Crore
Ø TCS second Indian firm to cross Rs 9 Lakh Cr -market valuation mark
Ø 13 Lakh new Retail investors added in stock market in past one month
.
========>
.
Even after recommending a Resolution Plan for approval of the Adjudicating Authority, the Committee of Creditors can retract it and withdraw the decision in regard to approval of such Resolution Plan by the Committee of Creditors – Siva Rama Krishna Prasad Vs. S Rajendran, Official Liquidator of M/S Krishna Industrial Corporation Ltd. & Ors. – NCLAT New Delhi
Case Citation: [2020] ibclaw.in 76 NCLAT
NCLAT held that it is manifestly clear that even after recommending a Resolution Plan for approval of the Adjudicating Authority, the Committee of Creditors can retract it and withdraw the decision in regard to approval of such Resolution Plan by the Committee of Creditors. The Adjudicating Authority has rightly observed that even after pushing the Corporate Debtor into liquidation, Promoter/Ex-Director of the Corporate Debtor can take recourse to Section 230 of the Companies Act, 2013 by submitting a scheme for revival of the Corporate Debtor, subject of course to eligibility of the applicant. For the foregoing reasons, we find no merit in these appeals. Same being devoid of merit stand dismissed. No orders as to costs.
https://ibclaw.in/siva-rama-krishna-prasad-vs-s-rajendran-official-liquidator-of-m-s-krishna-industrial-corporation-ltd-ors-nclat-new-delhi/
.
========>
.
⚫The consumer price index based inflation came in at 6.7% for August courtesy food inflation refusing to soften below 9%. India’s economy now struggles to cope with low growth and high inflation.
⚫LIC IPO unlikely this fiscal year due to delay in valuation process.
⚫The Govt banned the export of all varieties of onions with immediate effect, a move aimed at increasing availability and checking price of the commodity in the domestic market.
⚫The Govt said the lowering of corporate tax rate has made India a globally competitive and favoured destination for investment and the impact of this landmark reform will be felt in the coming years.
⚫India is proposing to drop a condition that the winning bidder for Air India Ltd. will have to take on $3.3 billion of aircraft debt, as the Govt struggles to sell the loss making carrier kept afloat by taxpayer funded bailouts.
⚫India's coronavirus tally has reached 4,926,914. The death toll has risen to 80,827. India now has 973,175 active cases.
⚫Today is last date of filing GSTR 3B for the month of May 2020 of taxpayers having turnover upto 1.5cr.
⚫Today is last date of depositing Advance tax of 2nd quarter.
.
========>
.
✅Union bank of India Invites application for empanelment of Concurrent Auditors for the year 2020-21. Last date for submitting applications online is 02.10.2020 Link: https://eremit.unionbankofindia.co.in/auditor/
✅Income tax - TODAY 15th September 2020- Advance tax second installment for FY 20-21
.
========>
.
👉🏻RBI mandates automated recognition of NPAs, provisioning by June 2021
(All borrowal accounts, including temporary overdrafts, irrespective of size, sector or types of limits shall be covered in the automated IT- based system for asset classification, upgradation and provisioning processes)
👇🏻 👇🏻 👇🏻
https://bit.ly/2Fx229j
👉🏻Govt urges Pvt sector to clear MSME dues on priority
(MSME, Ministry has asked the private sector enterprises of the country to take measures for release of payment of MSME dues on priority)
👇🏻 👇🏻 👇🏻
https://bit.ly/2RoKPBL
👉🏻CBDT dedicates two-thirds of workforce to faceless assessment scheme
(Central Board of Direct Taxes has dedicated two-thirds of its workforce towards the faceless assessment scheme)
👇🏻 👇🏻 👇🏻
https://bit.ly/3hvJ6Fa
.
==============>
.
📲 Download my official Android app "Updates by CARJ" 📚 to stay connected with latest news and updates 📝
Thanks for reading
