The Economic Times
The Economic Times IBBI proposes amendments to liquidation regulations
The Insolvency Bankruptcy Board of India has released a discussion paper proposing changes to the liquidation process regulations. The proposed amendments aim to enhance transparency, streamline the auction framework, and clarify procedures for closing liquidation processes. The board is seeking public comment on the proposed changes until December 9, 2024.
The Economic Times Wockhardt chairman seeks GST exemption for antibiotics discovered in India
Wockhardt founder sought GST exemption for antibiotics discovered in India. He said this will make the drugs more affordable. The statement was made at an event to celebrate the scientific completion of the first indigenously developed antibiotic Nafithromycin. Nafithromycin is the first macrolide antibiotic in 30 years for community-acquired bacterial pneumonia.
The Economic Times Biometric authentication to begin at 46 GST service centres to check registration fraud
Experts said unscrupulous taxpayers exploit the online system to generate GST registrations and engage in fraudulent transactions, but biometric-based Aadhaar authentication is perceived as maintaining vigilance on such spurious registrations. In MP, of the total five GST service centres will be operated by the CGST at Indore, Ujjain, Bhopal, Jabalpur, and Gwalior, whilst other centres will be managed by SGST.
The Economic Times Emaar India to invest Rs 1,000 cr on new housing project in Gurugram; eyes Rs 2,500 cr revenue
He said the company will develop 522 apartments in this 6.2-acre project, with a development potential of 15 lakh square feet.
The Economic Times NCLT grants approval to Mahindra Homes’ share capital reduction plan
Mahindra Homes, a joint venture between Mahindra Lifespace Developers and Actis, has received approval from the National Company Law Tribunal (NCLT) for its capital reduction proposal. The move, which involves canceling certain equity shares, will optimize capital allocation without impacting ongoing projects or homebuyer interests.
The Economic Times Gautam Adani indicted in US over role in alleged bribery, fraud
Primarily, the charges are: "Conspiracy to commit securities and wire fraud, as well as substantive securities fraud, for their roles in a multi-billion-dollar scheme to obtain funds from US investors and global financial institutions through false and misleading statements".
The Economic Times Growth Projections: How ICRA, Morgan Stanley, and Moody’s see the road ahead?
ICRA projects a dip to 6.5% in Q2 FY25 due to weak margins and heavy rains but expects 7% growth for the year. Morgan Stanley recently revised its FY25 forecast to 6.7%, citing slow Q2 data. Moody’s pegs CY2024 growth at 7.2%.
The Economic Times RBI can't budge on rates due to inflation target: Economists
Economists anticipate interest rates to remain high due to inflation surpassing the Reserve Bank of India's target. Government officials advocate for rate cuts to boost the economy. Banks observe a rise in deposit rates, with some projecting rate cuts by February.
The Economic Times Skills shortage hobbles India's clean energy aspirations
India's ambitious plan to expand domestic manufacturing is coming up short in the solar industry which is grappling with inadequate government funding and a skills shortage, potentially jeopardising its clean energy targets, industry leaders said.
The Economic Times CIEL HR Services files draft IPO papers with Sebi; eyes Rs 335-cr via fresh issue
CIEL HR Services Ltd, a technology-driven HR solutions provider, has filed for an IPO with SEBI. The IPO comprises a fresh issue of ₹335 crore and an OFS of 47.4 lakh shares by promoters. Proceeds will fund acquisitions, working capital, and the expansion of learning platforms in subsidiaries.
The Economic Times Heinz India faces ₹116.14 million tax appeal under Punjab VAT Act
Heinz India Private Limited faces a tax demand of ₹116.14 million from the Punjab VAT department for alleged short payments between FY 2011-12 and 2014-15. The company plans to challenge the order, including filing a tribunal appeal.
The Economic Times EcoRatings gets SEBI license to provide ESG ratings to financial securities
ESG ratings enable investors to identify and mitigate potential risks linked to environmental, social, and governance factors, thereby reducing the likelihood of adverse impacts on their investments.
The Economic Times India’s services exports to outpace goods by FY30, cut US tech giants’ dominance for growth: GTRI
India's services exports are predicted to surpass merchandise exports, reaching $618.21 billion by FY30, according to a report by GTRI. This growth will be driven by IT and other business services (OBS). However, the report emphasizes the need for diversifying IT exports beyond the US and regulating the dominance of American tech giants to ensure sustained growth.
The Economic Times Crompton Greaves Consumer Electricals aims to double business in 5 years, to focus on premiumisation in fans, says CFO Kaleeswaran Arunachalam
CFO Kaleeswaran Arunachalam expressed confidence in the company’s strong growth outlook, fueled by expansion in solar products, a premiumisation strategy, and commitment to sustainability.
The Economic Times Bitcoin breaches $94,000 for the first time
Bitcoin soared to an all-time high, surpassing $94,000, fueled by reports of a potential acquisition of crypto trading platform Bakkt by Donald Trump's social media company. This surge, coupled with the debut of options trading for BlackRock's Bitcoin ETF on Nasdaq, has intensified speculation about a crypto-friendly environment under the incoming Trump administration.