As Saudi Arabia initiated a price war against Russia, the crude oil price fell by 30 percent, registering its single-largest fall since the 1990 Gulf War. Brent Crude - a key international benchmark price index for oil — continued to trade around the $30 mark Monday(09/03/2020). Why 60 years' old OPEC broke down? Why Saudi Arabia cannot continue with O..
Anti-competitive activities found amongst Bengal Chemists and Druggists Association and certain pharmaceutical companies The Competition Commission of India (CCI) has passed an order finding Bengal Chemists and Druggists Association (‘BCDA’), its two District Committees i.e. Murshidabad District Committee and Burdwan Distri..
The Hon'ble AAAR, Maharashtra in the matter of M/s Konkan LNG Private Limited [Order No. MAH/AAAR/SS-RJ/14/2019-20 dated November 6, 2019]upheld the decision of Hon'ble AAR, Maharashtra to disallow that Input Tax Credit ("ITC") of taxes paid on breakwater wall construction which saves the jetty and cargo from high tide and forceful sea waves. Facts:<..
For a nation of the size in terms of landscape and economy of India, logistics plays a very crucial role in its economic development. India ranked 44 in the World bank’s Logistics Performance Indicator (LPI), 9 places lower from its 2016 rank of 35. Albeit a critical cost driver for all product sectors, there is only sluggish growth in the sector. The logistics cost in Ind..
Background An increase in the minutes of usage (MoU) compensates for the decline in tariffs, thereby contributing to healthy revenue growth. India has one of the highest minutes of usage (MoU) per subscriber per month, at more than 400 minutes1. Till mid-2020 decade, telecom companies enjoyed the credence that - You can only profit fat when its telecommunications.</p..
CA Onam Aggarwal from M/s One Stop Consultants talks about the basic questions arising in minds of foreign investors before investing in India The investment climate in India has improved considerably in the last five years. This is mainly attributed to ease in F.D.I. norms across sectors of the economy. India, today is a part of the top 100 club on Ease of Doing ..
Yes Bank Ltd.: RBI announces Scheme of Reconstruction The Reserve Bank of India has today placed in public domain a draft scheme of reconstruction of the Yes Bank Ltd. The Reserve Bank invite..
On the recommendation of the Reserve Bank of India, the Government of India has imposed a moratorium on the Yes Bank from the 5th of March 2020 to the 3rd of April 2020. Any account holder can not withdraw more than Rs 50000 from the Bank during the moratorium period irrespective of the number of accounts in the bank. <b id="docs-inter..
The Supreme Court of India lifted ban on the cryptocurrency on the 4th of March 2020. The Reserve Bank of India had issued a circular in the year 2018 which barred banks in India from dealing in cryptocurrency. A plea challenging the RBI's circular was raised which had now been allowed by the Supreme Court of India. Trading in cryptocurrencies will now be allowed, after lifting the ban ..
The Institute of Chartered Accountants of India elected its new President and Vice President on the 12th of February for 2020-21. CA Atul Kumar Gupta has been elected as the new president of ICAI and CA Nihar Niranjan Jambusaria has been elected as the new Vice President for 2020-21. The new president of ICAI CA Atul Kumar Gupta addressed the press conference today. The new President of ICAI hi..
In October, 2018, the Ministry of Corporate Affairs notified Division III to Schedule III to the Companies Act, 2013 which contained the format of Financial Statements as well as Disclosure Requirements for Non- Banking Financial Companies and RBI has issued report of working group on implementation of Ind AS by banks in India. So the question arises is Ind AS for banks differe..
Under the earlier dispensation, that is, as per the Companies Act 1956, there was no requirement to prepare consolidated financial Statements but there is a mandate to present CFSs under Clause 32 of the Listing Agreement states that the Company (Listed) shall mandatorily publish consolidated financial statements in its Annual Report in addition to the individual financial statements. ..
The details of total amount of funds that are locked up in cases at various quasi-judicial, appellate and judicial forums under Service Tax and Central Excise put together as on dated 31.12.2019 are as follows: Serial No. Forum <p..
In the last monetary policy of this fiscal 2019-20, RBI kept policy rates unchanged for the second time in a row as under: Repo Rate i.e. rate at which RBI lends to banks remains at 5.15%. Reverse Repo Rate i.e. rate at which banks park their excess liquidity with RBI, which currently is 0.25% lower than Repo Rate, remain..
Commercial paper, or CP, is a short-term debt instrument issued by companies to raise funds generally for a time period up to one year. It is an unsecured money market instrument issued in the form of a promissory note and was introduced in India in 1990. Corporates which enjoy a high rating can diversify their sources of short term borrowings using CPs. Investors get an additional instrument. ..