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1,38,051 new companies registered from April 2020 to February 2021

The Minister of State for Finance & Corporate Affairs Shri Anurag Singh Thakur said that 1,38,051 new companies registered in the current Financial Year from April 2020 to February 2021 while  10,113 of Companies have been struck off by invoking the Provisions of section 248 of the Companies Act, 2013 from April 2020 to February 2021. This the Minister stated in ...

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Bankrupt Companies after lockdown was imposed due to COVID-19 pandemic

As per information from Insolvency and Bankruptcy Board of India (IBBI), details for the period from 01.04.2020 to 31.12.2020 of the number of companies declared bankrupt in the country after the lockdown was imposed due to COVID-19 pandemic is as under: 283 firms were admitted into corporate insolvency resolution process (CIRP). 76 CIRPs ended in resolution, 128 CIRPs were closed ...

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Reducing Dependence on Import of Oil

Government is making all efforts to reduce import dependence. India’s oil and oil equivalent gas import dependence in 2014-15 and 2015-16 were 68.9% and 72.2% respectively and during current April-January, 2020-21 is 77.1%. The year wise details of crude oil imported and details of imports of crude oil as percentage of total crude oil processing are as below:   2015-16 2016-17 ...

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POWERGRID Signs Agreement to Acquire 74% Stake in Jaiprakash Power Ventures Limited

Power Grid Corporation of India Limited (POWERGRID), a Maharatna PSE under Ministry of Power, Government of  India has signed a Share Purchase Agreement with Jaiprakash Power Ventures Limited (JPVL) to acquire 74% stake in Jaypee Powergrid Limited-JV (JPL) in which POWERGRID holds 26% equity. JPL will become a wholly owned subsidiary of POWERGRID following this acquisition. JPL-JV has developed a ...

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Steel Import and Export

Details of country-wise import and export of finished steel during last three years and current year i.e., April-January, 2020-21 (prov.) are placed at Annexure-I & Annexure-II respectively. Details of state wise details of crude steel production during last three years and the current year i.e., April-January, 2020-21 (prov.) are placed at Annexure-III. Annexure-I     IMPORT OF FINISHED STEEL (‘000 tonnes)   Country 2017-18 ...

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Indian Railway issues guidelines to prevent incidents of Crime against women in trains and in railway premises

Twenty three (23) million passengers travel through the Indian Railways everyday out of which 20% i.e. about 4.6 million are women. In the recent past, the incidents of crime against women in trains and railway premises has been a major area of concern. Therefore, the following steps as part of a focused effort across Indian Railways to collectively strive for ...

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20 States implement ease of doing business reforms , Get additional borrowing permission of Rs. 39,521 crore

The number of States who have successfully completed the “Ease of Doing Business” reforms has reached to twenty. Five more States namely, Arunachal Pradesh, Chhattisgarh, Goa, Meghalaya and Tripura have completed the “Ease of Doing Business” reforms stipulated by the Department of Expenditure. States completing Ease of Doing Business reforms are eligible for addtional borrowing of 0.25 percent of Gross ...

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NPPA brings 80 plus medicines under Price Regulation

National Pharmaceutical Pricing Authority (NPPA) NPPA fixes the price of 81 medicines including off-patent anti-diabetic drugs allowing due benefits of patent expiry to the patients. NPPA has fixed the Retail Price of ‘Insulin Human Injection, 200IU/ml’ and ‘70% Isophane Insulin Human Suspension + 30% Insulin Human Injection 200IU/ml’ for M/s Wockhardt Ltd at Rs. 106.65 per ml each (excluding GST) ...

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Integrated Scheme for Development of Silk Industry

The Govt. of India through Central Silk Board has been implementing a Central Sector Scheme “Silk Samagra” an Integrated Scheme for Development of Silk Industry (ISDSI) during the years 2017-18 to 2020-21 for the overall development of Silk industry in the Country with an aim & objective to scale up production by improving the quality and productivity and to empower ...

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CCI approves acquisition of 51% of the equity share capital of NESCO Utility by Tata Power Company Limited from Grid Corporation of Odisha Limited

The Competition Commission of India (CCI) approves acquisition of 51% of the equity share capital of North Eastern Electricity Supply Company of Odisha (“NESCO Utility”) by The Tata Power Company Limited  (“TPCL”) from Grid Corporation of Odisha Limited (“GRIDCO”) under Section 31(1) of the Competition Act, 2002, on 18th March 2021. The proposed combination relates to the acquisition of 51% ...

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