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Tuesday, August 11, 2020

Karunjit Singh

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Explained: New rules governing rights issues, and implications for shareholders
Sat, May 16, 2020

Capital markets regulator Securities and Exchange Board of India (SEBI) has come out with guidelines that allow listed companies to serve the letter of offer, application form, and other offer material electronically. What changes for a share holder?

Almost 40K projects to get relief from Rera compliance for 6 mths
Thu, May 14, 2020

The FM also announced a Rs 30,000-crore special liquidity scheme, in which the government will fully guarantee investments in investment grade debt paper of non-banking financial institutions, housing finance companies and microfinance institutions.

Self-reliant India: Which sectors depend on imports, and which do not
Thu, May 14, 2020

Prime Minister Narendra Modi has said Indians need to become “vocal for local”. Yet, how self reliant are India’s industries currently and how soon can they step up?

As OMCs pass on crude price slide, jet fuel down but no pass-through for auto fuels
Mon, May 11, 2020

Experts say that the demand for ATF has collapsed as it is only being used for cargo transport, relief and rescue work, as well as emergency services.

OMCs may see higher margins; little benefit for consumers from low oil prices since Jan
Thu, May 07, 2020

The Centre’s move to hike excise duty on petrol by Rs 10 per litre and on diesel by Rs 13 per litre has not resulted in any hike in pump prices as the duty increase has been absorbed by OMCs.

Sliding crude prices, struggling global energy cos deter govt’s BPCL stake sale plan
Tue, Apr 28, 2020

The government may have to wait longer for bids at an attractive valuation as major international energy players are battling the financial stress caused by disruption in the crude oil market.

NCLT to hear MCA plea on Delhi Gymkhana Club ‘mismanagement’
Sat, Apr 25, 2020

The MCA had, earlier this week, petitioned the NCLT to suspend the general committee of the club with immediate effect, and replace it with a central government-appointed administrator.

As output costs exceed global prices, upstream oil & gas cos seek relief
Fri, Apr 24, 2020

Oil producers are required to pay a 20 per cent oil cess on the price of crude as well as a royalty of 10-12.5 per cent for offshore production of oil.

OMCs use crude price drops to make up for fall in demand
Wed, Apr 22, 2020

Experts say OMCs are making up for inventory losses and reductions in refining margins.

Sebi, MCA seek essential service status for auditors of listed companies
Sun, Apr 19, 2020

Confirming the development, a government source further said the Corporate Affairs Ministry has, in turn, taken up the matter with the Ministry of Home Affairs.

Industry opposes proposal on joint audits, appointment panel
Sat, Apr 11, 2020

The ICAI has, however, supported mandatory joint audits and an independent panel to appoint auditors in its submission to the MCA.

Lockdown period not to be part of timeline for any insolvency process
Mon, Mar 30, 2020

The IBC prescribes that the CIRP for companies be completed within 330 days. including time taken for litigation.

ICAI issues guidance for financial reporting, auditing taking into account COVID-19
Sat, Mar 28, 2020

The note provides guidance to companies and auditors on measuring impairment of assets, evaluating contingent liabilities and the ability of business to remain operational.

SFIO arrests former Rotomac director, two senior officials of Frost International
Fri, Mar 20, 2020

It also arrested the managing director of Frost International Uday Desai and CEO Sujay Desai for fraudulent round tripping of funds and manipulating financial statements to get funds from banks.

Take into account impact of disruptions caused by virus while auditing: ICAI
Thu, Mar 19, 2020

The novel coronavirus, which has infected over 2,00,000 people and led to the death of over 8,000 people globally is expected to have a strong negative impact on GDP growth in the country especially the tourism, aviation, hospitality and trade.

MCA to allow board meetings to be held via video conference for three months
Tue, Mar 17, 2020

An official said the move was a response to representations by industry bodies and corporates that board members may be unable to travel due to restrictions.

Full review of IBC in pipeline as govt aims for faster resolutions
Mon, Mar 16, 2020

Non-adherence to timelines under the Insolvency and Bankruptcy Code (IBC) is an issue that has been repeatedly raised by lenders and the government has repeatedly sought to address it through amendments to the IBC.

Govt hikes excise duty on petrol and diesel by Rs 3 per litre
Sat, Mar 14, 2020

A government notification said that the special excise duty on petrol was hiked by Rs 2 per litre to Rs 10 per litre and to Rs 4 per litre for diesel. Road cess on both petrol and diesel has also been increased by Re 1 per litre to Rs 10 per litre, the notification added.

DoT yet to submit evidence to back up its Rs 21,135-crore AGR claims to Reliance Communications RP
Tue, Mar 10, 2020

The Indian Express has learnt. The delay by the DoT comes even as the Committee of Creditors (CoC), led by State Bank of India (SBI), approved a Rs 23,000-crore plan for the resolution of RCom last week.

Panel proposes raising default threshold of cos to Rs 50 lakh to initiate insolvency proceedings
Mon, Mar 09, 2020

The report of the Insolvency Law Committee, which is set be submitted to Finance Minister Nirmala Sitharaman, has also recommended a lower threshold of Rs 5 lakh for initiation of insolvency against micro, small and medium enterprises (MSMEs).

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