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NEW DELHI: Large corporates will soon have a facility for “out-of-court” insolvency resolution that will hinge on informal discussions among the stakeholders and may not even require open bidding for selection of resolution applicants, official sources said. The scheme envisages minimal discretionary involvement by the National Company Law Board...
NEW DELHI: The Centre will likely roll out 58% of the Rs 1.3 trillion interest-free capex loan facility for states in 2024-25 after general elections to avoid controversies as those would be reform-linked to boost economic growth to make India a developed nation. To strengthen the hands of the...
NEW DELHI: An expert committee set up by the insolvency regulator has recommended mediation between lenders and borrowers even at the pre-default stage to “achieve faster out-of-court outcomes”. The panel, headed by former legal affairs secretary TK Viswanathan, has said mediation at the pre-default stage would aid in resolutions...
NEW DELHI: Government think tank NITI Aayog has pitched for tax reforms, mandatory saving plan, and housing plan for elderly in India, as the population of senior citizens is projected to reach 19.5 per cent of the country’s population by 2050. In a report titled ‘Senior Care Reforms in...
NEW DELHI: The Income Tax department has prescribed a ceiling of Rs 1 lakh per assessee for withdrawal of small tax demands till Assessment Year 2015-16, in accordance with a scheme announced in Budget. The Central Board of Direct Taxes (CBDT) has issued an order giving effect to the...
NEW DELHI: The government is not considering any cut in import duty on rubber as of now as the differential between the local and international prices is maintained, a senior official said on Monday. “We have a differential already maintained for the imports that we are getting vis-a-vis the...
NEW DELHI: State-owned India Tourism Development Corporation Ltd is looking for new business opportunities besides strengthening its existing verticals as it seeks to carry forward the momentum of record financial performance of last fiscal, according to its Managing Director M R Synrem. The company which offers hospitality, travel and...
DUBAI: India emerged at the top spot for the highest number of passengers flying through the Dubai International Airport, the world’s busiest for international travel, with traffic totalling 11.9 million guests, the airport announced on Monday. According to a statement, the Dubai airport, known as DXB, surpassed not only...
BENGALURU: Tata Group companies Air India and Tata Advanced Systems Limited (TASL) plan to invest Rs 2,300 crore in Karnataka in multiple projects which will provide employment to about 1,650 people, an official statement here on Monday said. Karnataka Chief Minister Siddaramaiah and Large and Medium Industries Minister M...
NEW DELHI: As trade ministers head to Abu Dhabi for a crucial meeting of WTO next week amid a lack of consensus in key areas, India is seeking to get the over 160 member nations to acknowledge that high cost of remittances are a drain, especially on poor countries,...
NEW DELHI: Corporate donations to political parties may slow down a bit as a result of the scrapping of the electoral bonds scheme by the Supreme Court, but Indian companies may revert to electoral trusts, lawyers and analysts said. Lawyers said electoral trusts allow companies to maintain an arm’s...
NEW DELHI: India’s telecom sector revenues are expected to surge 63% between FY16 and FY25 despite a broader consolidation that shrank the field from more than 10 private mobile operators to just three. Revenues stood at ₹1.7 lakh crore in FY16 with the sector having more than 10 private...
NEW DELHI: The government has begun talks with a host of capital-rich countries to explore ways to route larger portions of their abundant pool of patient capital to India to support the country’s economic growth on a durable basis. The move comes in the backdrop of a moderation of...
NEW DELHI: Two full-fledged semiconductor fabrication plants are going to come up in India very soon entailing multi-billion dollar investment besides several chip assembly and packaging units, Minister of Electronics and IT Rajeev Chandrasekhar said. In an interview with PTI, the minister confirmed that the two projects include a...
MUMBAI: CRISIL’s Financial Conditions Index (FCI) shows India’s overall financial conditions tightened in January compared with December. The FCI fell to 0.5 in January from 0.7 in December. “Liquidity went into deeper deficit, putting upward pressure on short-term rates. Financial conditions were also affected by foreign portfolio investors (FPIs)...
NEW DELHI: With the negotiations for the proposed India-UK free trade agreement reaching an advanced stage, the Prime Minister’s Office reviewed the progress of the talks on February 16, sources said. Commerce and Industry Minister Piyush Goyal and Commerce Secretary Sunil Barthwal were also present in the meeting, they...
NEW DELHI: India’s power consumption increased 7.5 per cent on-year to 1354.97 billion units (BU) in the April-January period of this financial year, indicating an uptick in economic activities across the country. Power consumption in the country has increased to 1354.97 billion units (BU) in the April-January period of...
KOLKATA: A start-up has recently announced that it will provide curated education, health, and edutainment services targeting specific needs using artificial intelligence. The start-up platform called Ascend, which is backed by the Accolade Group, claims to be the first knowpedia (Knowledge pedia). “We are the world’s first knowpedia and,...