New Delhi

Panel may ease IBC qualification criteria

The panel reviewing the Insolvency and Bankruptcy Code (IBC) may suggest easing of qualification criteria to allow larger participation in resolution process.

Sources said the panel is in favour of allowing companies that have not been in management of non-performing assets (NPA) to bid for stressed assets. Thus the treatment would bring out a clear distinction between promoters of defaulting firms that don’t have a managerial role, from those

who also manage stressed assets.

Dalmia ups ante as battle turns bitter

The resolution process for bankrupt Binani Cement has taken a bitter turn with Dalmia Bharat on Wednesday charging the corporate debtor of creating unnecessary hurdles in the insolvency process to prevent its fraudulent transactions from coming under court’s scrutiny.

Trade deficit of $44 billion pushes up CAD

A higher trade deficit has widened India’s current account deficit (CAD) and the general opinion of economists is that the deficit may not be a big risk in isolation.

However, it is important to consider the indications of this for the economy. According to Reserve Bank of India data, India’s CAD, which shows the excess of a country’s imports over its exports, rose to two per cent of India’s GDP at $13.5 billion in the December quarter of 2017 (Q3).

Review GST rates: PwC

Top consultancy firm PwC has suggested the government to cut peak GST (goo­ds and services tax) rate to 20-22 per cent from 28 per cent now while clubbing the two rates of 12 and 18 per cent and keep it somewhere between 14-16 per cent.

Prabhu appeals for common ground to strengthen WTO

Commerce minister Sur­e­sh Prabhu on Tuesday app­e­aled to the WTO members to identify common grou­nd for strengthening the multi-lateral trade body amid challenges being fa­ced by it following the dea­dlock at the Buenos Aires ministerial in December.

Delegates from as many as 52 countries, including the US and China, are parti­cipating in the informal me­eting of the WTO called by India amidst increasing protectionism in global trade. India has called this meet to explore options to reinvigorate the World Trade Organization (WTO).

Tata Motors, Nissan to hike prices from April 1

Automakers Tata Motors and Nissan India on Tuesday announced they would increase the prices of their models from next month in order to partially offset the impact of rising input costs.

In a statement, Tata Motors said it would hike prices of passenger vehicles by up to Rs 60,000 from April 1. “The rising input costs, cha­nging market conditions and various external economic fa­ctors, have compelled us to consider the price incre­ase,” Tata Motors president (passenger vehicle busine­ss), Mayank Pareek, said.

Choksi refuses to join CBI probe, repeats health issue

Jeweller Mehul Choksi has refused to join a CBI probe in the $2 billion PNB scam and claimed that “untenable” allegations had res­u­lted in “sudden closure” of his business and exposed him and his family to “thr­e­ats” from former associates.

In his latest letter to CBI, dated March 16, Choksi also mentioned his medical condition, suspended passport, and media trial to decline the agency’s communicati­on asking him to join probe.

Oppn slams govt insensitivity in breaking news

A row erupted over the government’s handling of the abduction of 39 Indians in Iraq by ISIS four years ago after it was announced they were dead. Opposition parties and some family members slammed the government over the delay in announcing the death, saying it gave their families “false hope” that they were alive. External Affairs ministry rejected the charge.

Bodies of 39 Indians in Iraq found

All the 39 Indians abducted by the ISIS terror outfit in Mosul in Iraq three years ago are dead and their bodies have been recovered, External Affairs Minister Sushma Swaraj said on Tuesday.