Tatas plan to move SC vacation bench for early stay against NCLAT order
Tata Sons, the holding company of the salt-to-software conglomerate, is looking at approaching the vacation Bench of the Supreme Court for a stay against the National Company Law Appellate Tribunal (NCLAT) order to reverse the status of the company from private to public limited and reinstating Cyrus Mistry as a director on its board and on three group firms, a person close to the matter told Business Standard. Read more
Govt plans to implement all four labour codes in one go, likely in 2020
The government is planning to implement all the four labour codes on a single date later next year, a senior labour and employment ministry official said. “The thinking within the government is that a single date for the implementation of all the four labour codes will be fruitful because it will ensure uniformity and will lead to an efficient execution,” the official said. Read more.
Don’t delay decision on reviving Jet Airways, NCLT tells Synergy Group
The National Company Law Tribunal (NCLT) has asked Synergy Group to hasten its decision on reviving Jet Airways. The South American group had failed to provide a resolution plan before December 16 deadline due to uncertainty on airport slots and would have to participate in a fresh bidding process proposed by lenders. Read more.
Auto Expo 2020: Digital tilts the wheel as marquee brands plan to skip
With a little over a month to go for what used to be one of the biggest theatrical productions for the auto industry, the Auto Expo 2020, it now seems likely that marquee brands such as Hero, TVS, Honda, Bajaj, Harley Davidson, Royal Enfield, Nissan, BMW, Ford, Daimler, PSA Citroen will sit this one out. Just as many did in 2018. Read more.
NTPC may acquire NEEPCO through debt; awaits clarity on THDC stake buying
NTPC, which is in the process of acquiring the central government’s stake in two hydro power firms, THDC and NEEPCO, is likely to depend on external funding to do so, not internal cash flow. Read more.
Yamaha aims to treble India market share in next 5 yrs; launches 3 products
The Indian arm of Yamaha, the Japanese two-wheeler major, says it aims to grow its market share in the segment to 10 per cent in the year 2025, requiring sales that year of around 2.3 million units. Read more.
Lenders to Indian textile firm Sintex reject $1 billion revamp plan
Lenders to Sintex Industries Ltd. rejected a debt restructuring plan by the company and intend to push it into bankruptcy, people familiar with the matter said. Read more.
Tata Motors to tie up with group entities to foray into electric vehicles
Tata Motors will use the strength of group companies to fuel its foray into electric vehicles (EVs). It has tied up with Tata Power to install charging stations and will us the group’s retail arm chain, Croma, to digitally showcase the vehicles. Read more.
Cab surge pricing could be capped at thrice the base fare
Surge pricing by cab aggregators such as Ola and Uber is likely to be capped by the government at three times the base fare – with riders – and retain their commission at about 20%. The total number of hours or rides when it is applicable may be limited and surge pricing will likely be restricted to certain times of the day, according to government officials in a report by The Economic Times.
Rampant GST evasion? Gap between ITC claimed, suppliers’ data foxes taxman
An analysis by the goods and services tax (GST) department showed that as much as 39% or Rs. 2.5 trillion of input tax credit (ITC) claimed by taxpayers in FY18 remained unmatched with the invoices uploaded by their suppliers. Though the gap had come down to 13% (Rs. 1.7 trillion) in FY19, it was still very large and unacceptable to the department and underscored the need for more measures to check tax evasion and fraud, according to a report by Financial Express.
Source: Business Standard