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Advice of Stakeholders’ Committee is not binding on IP under IBC 2016

August 10, 2022 510 Views 0 comment Print

IBBI DC noted the submission of Mr. Rakesh Ahuja that he continued the process while dealing with the matter as per regulation 35(1) of the Liquidation Regulations and decided to conduct the fresh valuations during Liquidation process solely on the recommendations of the stakeholders. Under the regulations, advice of Stakeholders’ Committee is not of binding […]

ED searches Director of WazirX Crypto-Currency Exchange

August 10, 2022 372 Views 0 comment Print

ED searches the Director of WazirX Crypto-Currency Exchange & freezes its Bank assets worth Rs 64.67 Crore for assisting accused Instant Loan APP Companies in laundering of fraud money via purchase & transfer of virtual crypto assets. Press Release 05.08.2022 Directorate of Enforcement (ED) has conducted searches on one of the Directors of M/s Zanmai […]

Value of counterfeit notes detected in banking system reduced post demonetisation

August 10, 2022 324 Views 0 comment Print

Value of counterfeit notes detected in banking system reduced from ₹43.47 crores in 2016-17 to ₹8.26 crores in 2021-22 since demonetisation

No system of maintaining classified data on companies according to their business

August 10, 2022 99 Views 0 comment Print

Corporate Affairs Ministry not developed any system of maintaining classified data on companies based categories according to their business

Drugs seized in 8 cases from Gujarat Ports in 2021 & 2022 by DRI

August 10, 2022 885 Views 0 comment Print

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO-3459 ANSWERED ON-MONDAY, AUGUST 8, 2022/SRAVANA 17, 1944 (SAKA) Drugs Seized from Gujarat Port 3459. SHRI ANTO ANTONY: Will the Minister of FINANCE be pleased to state: (a) whether the Directorate of Revenue Intelligence or any other Central Agency has recently seized […]

e-Bill system under implementation on Pilot basis in Ministries & Departments

August 10, 2022 315 Views 0 comment Print

The e-Bill system was launched on Pilot basis on 2nd March, 2022 in 9 Pay & Accounts Offices of 8 Ministries/Departments.

Supreme Audit Institutions should engage with media, citizens & anti-corruption agencies: CAG

August 10, 2022 288 Views 0 comment Print

The Comptroller and Auditor General of India and Chair, CAS highlighted the contributions made by CAS to INTOSAI Standard setting and other capacity building activities.

All 4 PSU insurers incurred losses in health insurance business in 2016-17 to 2020-21

August 9, 2022 1386 Views 0 comment Print

All the four PSU insurers incurred losses in the health insurance portfolio in all the five years from 2016-17 to 2020-21. Aggregate loss of the four PSU insurers was ₹26,364 crore during 2016-17 to 2020-21.

CAG report on Income Tax Exemptions to Charitable Trusts & Institutions

August 9, 2022 1449 Views 0 comment Print

CAG noticed ineffective monitoring of accumulation of income and its utilization, ineffective monitoring of receipts and utilization of foreign contribution, inadequacy of survey of educational Trusts, absence of provision for disclosure of TDS in the audit report, etc.

Race Club can claim principle of mutuality in regard to entrance fee received from non-voting members

August 9, 2022 1200 Views 0 comment Print

SC has held that the assessee is entitled to claim mutuality in respect of entrance fee collected from these non-voting right members.

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