IBC cases slow down as banks reconsider recovery approach
The Insolvency and Bankruptcy Code (IBC), once hailed as a transformative resolution mechanism, is witnessing a slowdown in case admissions, with banks showing reluctance to tap this channel for recoveries. While the IBC remains the dominant tool for resolving distressed debts, delays in case admissions and diminishing recovery percentages are
Dry fruits body NDFC seeks import duty rationalisation, lower GST in Budget
The Nuts and Dry Fruits Council (India) has sought rationalisation of walnut import duty on a per-kg basis and reduce GST to 5 per cent from current 18 per cent. The trade body in its pre-Budget proposals has also requested the government to announce a production-linked incentive (PLI) scheme for
Water level in India’s major reservoirs down on below-normal rainfall
The water level in the 155 major reservoirs in the country declined for the 12th week in a row this week with the storage in Punjab’s lone dam dropping below 20 per cent of the capacity, data from the Central Water Commission showed. The storage has declined as a major
India’s business growth hits 14-month low in January, PMI shows
India’s business activity grew at the slowest pace in over a year in January, a survey showed, highlighting emerging cracks in its world-beating economic growth at start of 2025 although firms hired new staff at a record pace. The services industry is the major engine of Asia’s third-largest economy and
AMG Green Power and ORIX seek CCI nod for stake realignment in Greenko Energy
In a significant development for the renewable energy sector, AMG Green Power B.V. (AMG Power) and ORIX Corporation (ORIX) have approached the Competition Commission of India (CCI) for approval of a proposed transaction involving Greenko Energy Holdings (GEH) and AM Green (Luxembourg) S.À.R.L. (AMG Lux). The transaction aims to realign
SC rejects PIL seeking to scrap TDS system, calls it ‘badly drafted’
The Supreme Court on Friday refused to entertain a PIL seeking to declare that the Tax Deducted at Source (TDS) system is “manifestly arbitrary, irrational and violative of various fundamental rights”. A bench of Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar declined the plea filed by advocate
India’s Jan business growth at 14-month low due to weaker services demand, PMI shows, ETCFO
By Anant Chandak BENGALURU – India’s business activity grew at the slowest pace in over a year in January, a survey showed, highlighting emerging cracks in its world-beating economic growth at start of 2025 although firms hired new staff at a record pace. The services industry is the major engine
Non-liable businesses can now get temporary identity under GST, notifies CBIC
Central Board of Indirect Taxes and Customs (CBIC) has notified the mechanism for businesses to get a temporary identification number under GST, even if the said entity is not required to do so. It has also announced the waiver of excess of late fee for FY 17-18 to FY 22-23
PR industry in India to grow to ₹4570 crore by FY 2030: PRCAI
Outpacing global growth trends, the PR industry in India touched the ₹2500 crore mark in FY 2023, up 19 per cent year-on-year, and is poised to grow to ₹4570 crore by FY 2030 with a compounded decadal CAGR of 12.8 per cent, a report by the Public Relations Consultants Association
Karnataka Governor Gehlot returns the Mineral Tax Bill, seeks clarification
The Karnataka Governor Thawar Chand Gehlot has returned the Mineral Tax Bill, according to news reports. The Governor cited queries raised by mining associations as the reason for his decision. Commenting on the development, Congress spokesperson, BL Shankar stated, “This Bill was introduced in the interest of the community. Both