The government is likely to seek changes in the several clauses of the Insolvency and Bankruptcy Code (IBC) to make the rules more bidder-friendly, enhance competition, boost recoveries and yet make it free from risks.
Plan and Policy
Plan & Policy
Faced with continued evasion by Nirav Modi, prime accused in the Rs 12,400 crore PNB scam, enforcement directorate said on Thursday sovereign jurisdiction and regulations of different countries were behind delay in bringing him back to India.
Though no time limit could be given on Modi’s return, discussion were on with countries relevant on the process of deportation, sources said. They refused to comment on the query about current address of Modi, and added it would not be in the interest of the investigation.
The serious fraud investigation office (SFIO) on Thursday questioned debt-ridden Bhushan Steel’s chairman Brij Bhushan Singal about alleged siphoning of Rs 1,000 crore, a source said.
The agency, which comes under the corporate affairs ministry, has been probing allegations of fund diversions at the firm since last year.
According to the source, Singal was questioned by SFIO here in the matter related to alleged siphoning of huge amount of funds.
In a bid to provide relief to trade and businesses, the GST council at its meeting on Saturday may consider allowing them to file their returns in a simplified GSTR-3B form for another six months beyond March.
It will also discuss the proposal to merge 3 monthly return forms into one to simplify the process and reduce compliance burden. Among other proposals on the GST council agenda is to further delay rolling out the digital pass system for transporting goods for another few months and levying GST on concentrated form of alcohol.
Mehul Choksi, promoter of Gitanjali Gems, which is named in the Rs 12,700 crore PNB fraud case, has written another letter to CBI in reply to FIR that asked him to appear before the investigating agency. Choksi said he “in no manner dictating the terms” for his appearance. But as his passport has been suspended “it is impossible” to travel back to India.
Here is the full text of the letter written by him to CBI:
Re: Investigation in FIR No RCBSM2018E00001
Two TDP ministers in the BJP-led NDA government, Ashok Gajapathi Raju and YS Chowdary, submitted their resignations to prime minister Narendra Modi soon after he had a telephonic conversation with Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday evening. Raju later told reporters that his party will continue to part of the ruling alliance.
The CBI on Thursday moved the Supreme Court challenging the acquittal of dentist couple Rajesh and Nupur Talwar in the sensational 2008 twin murder case of their daughter Aarushi and domestic help Hemraj.
Gitanjali Gems promoter Mehul Choksi (in pic), who is under the scanner of investigating agencies following a complaint by the Punjab National Bank, has said it was impossible for him to return to India and join the investigation due to the suspension of his passport and ill-health.
In a detailed e-mail reply to the CBI’s notice seeking his appearance, Choksi said he was not in a position to travel as his passport has been suspended by the authorities and he was undergoing medical treatment.
The government has sought Parliament’s approval for additional cash spending of Rs 85,315 crore in the current fiscal ending March. The additional expenditure is being incurred to match the revised estimates provided in the budget and it will not impact the revised 3.5 per cent fiscal deficit target.
Minister of state for parliamentary affairs Arjun Ram Meghwal moved the fourth round of supplementary demands for grants for 2017-18 in the Lok Sabha.
In many ways, bullion trader and King Bullion owner Mohit Kamboj (in pic) is the whistle blower in the 20:80 gold scheme case. A relentless crusader, he did not give up despite repeated brush-offs from the UPA top brass. The Reserve Bank of India (RBI) and the finance ministry refused to acknowledge his missives on this issue, but he sallied forth and once the new government was in place, opened a fresh front by writing to the new finance minister Arun Jaitley and followed this up by writing to then commerce secretary Rajeev Kher.