ECONOMY & NATION


IANS 22 September 2021
After the Supreme Court order, the Centre, in an affidavit, has recommended Rs 50,000 ex-gratia compensation to the families whose member die due to Covid-19, and the amount has to be distributed by states from the State Disaster Response Fund.   The National Disaster Management...

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IANS 22 September 2021
The government has again extended the term of Uday Kotak as non-executive chairman of Infrastructure Leasing and Financial Services (IL&FS) to maintain continuity in the resolution plan being operatives for the indebted group.   As per a notification by the department of financial...

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Moneylife Digital Team 22 September 2021
Depositors of 21 banks, including Punjab and Maharashtra Cooperative (PMC) Bank, will receive up to Rs5 lakh from the Deposit Insurance & Credit Guarantee Corporation (DICGC) within 90 days or by 29 December 2021 under the all-inclusive directions (AID).    The DICGC (Amendment) Act,...

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IANS 21 September 2021
The Enforcement Directorate (ED) has registered a money laundering case in a drug trafficking case where 2,988.22 kg of heroin was seized at Mundra port in Gujarat.   In the case two people were arrested and the role of some Afghanistan nationals are being investigated.   A...

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Moneylife Digital Team 21 September 2021
In the aftermath of the pandemic, the Reserve Bank of India (RBI) has been at the forefront of stabilising the financial system to keep liquidity in surplus mode. The average net durable liquidity injected into the banking system since April 2021 is at Rs9.3 lakh crore. However, the excess...

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IANS 21 September 2021
To quicken the pace of stressed asset resolution, the Centre may soon come up with a prepackaged insolvency framework under the Insolvency and Bankruptcy Code (IBC) for large corporates, similar to the one introduced for SMEs.   Official sources said that discussion on having a...

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Moneylife Digital Team 21 September 2021
In a welcome relief, lenders to Dewan Housing Finance Corporation (DHFL) may start receiving payment from Piramal Capital and Housing Finance (PCHFL) this week. DHFL has been undergoing insolvency proceedings at National Company Law Tribunal (NCLT) in Mumbai since 3 December...

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Moneylife Digital Team 20 September 2021
The National Company Law Tribunal (NCLT)'s Mumbai bench has asked to freeze assets, including bank accounts and lockers, owned by former promoters of Metalyst Forging Ltd. The ministry of corporate affairs (MCA) had filed an application seeking recovery of over Rs3,454 crore in financial...

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IANS 20 September 2021
Amazon, the world's largest online retailer, has initiated an investigation into the conduct of its legal representatives in India, The Morning Context reported.   This investigation comes on the back of a whistleblower complaint alleging that certain monies paid by Amazon in legal...

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Moneylife Digital Team 20 September 2021
Private equity (PE) investor Advent International is buying a controlling stake in Eureka Forbes Ltd, a group company of the Shapoorji Pallonji group (SPG). The transaction values Eureka Forbes at an enterprise value of Rs4,400 crore, subject to closing adjustments.   In a statement,...

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IANS 20 September 2021
The government may have extended the due date for filing Income Tax returns on account of the difficulties being reported by the taxpayers in the electronic filing of returns owing to the glitches in the Tax Portal, but taxpayers may still be required to pay additional interest at the rate of...

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Quaid Najmi (IANS) 20 September 2021
In a major revelation, the Income Tax Department on Saturday accused Bollywood actor Sonu Sood of financial irregularities worth over Rs 250 crore by way of unutilised charitable funds, bogus contracts and circular transactions with one of his partner companies, and diverting funds to evade...

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IANS 17 September 2021
Crores of rupees keep pouring into individual bank accounts of people in Bihar these days. The latest incident is from Singari village in Muzaffarpur district. Ram Bahadur Shah, an elderly farmer has received Rs 52 crore in his bank account.   The incident came to light on Friday when...

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Moneylife Digital Team 17 September 2021
The standard narrative of most talk shows, media articles and investor presentations suggests consolidation in the real estate market. The general perception is that the demonetisation and introduction of the Real Estate Regulatory Authority Act (RERA) and goods and service tax (GST)...

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IANS 17 September 2021
The Supreme Court on Thursday held the moratorium under provisions of the Insolvency and Bankruptcy Code (IBC), which restrains initiation of any fresh proceedings or discontinuance of existing ones, does not protect the promoters of the stressed company, but applies only to the corporate...

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Moneylife Digital Team 16 September 2021
The enforcement directorate (ED) on Thursday raided the home and office of Harsh Mander, a retired officer from the Indian Administrative Services (IAS) and human rights and peace worker. Interestingly the raids were carried out hours after the social activist and his wife left for Germany...

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IANS 16 September 2021
  People of Bihar are surprised over crores of rupees being credited in the bank accounts of two children.   The incident appeared in Katihar district where two class 6 students, Ashish Kumar and Gurucharan Biswas received Rs 6,20,11,100 and Rs 90,52,21,223 in their bank...

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Moneylife Digital Team 15 September 2021
In a curious turn of events, Inveso Developing Market Funds, which was welcomed by Zee Entertainment managing director (MD), Punit Goenka (elder son of Zee group founder Subhash Chandra), as a major investor in 2019, has now turned on him.   At Zee Entertainment, two largest...

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Moneylife Digital Team 15 September 2021
Giving a significant relief to telecom service operators, the Union Cabinet on Wednesday announced a moratorium or deferment of up to four years in annual payments of dues arising out of the adjusted gross revenue (AGR) judgement or spectrum payments. The Cabinet meeting headed by prime...

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IANS 15 September 2021
The Centre on Wednesday approved a production linked incentive (PLI) scheme for the auto sector, especially focusing on environment-friendly automobiles such as electric vehicles (EVs).   The over Rs25,000 crore scheme is likely to boost production of components as well as give a push...

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