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Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2016 on 14th July, 2021. The amendment regulations enhance the discipline, transparency, and accountability in corporate insolvency proceedings: A.A corporate debtor (CD) may have changed its name or registered office address prior to commencement of insolvency. ...

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NALCO’s Net Profit at Rs.1300 crore, jumps by 840%

National Aluminium Company Limited (NALCO), the NavratnaCPSE, under the Ministry of Mines, GOI and India’s largest integrated manufacturer and exporter of alumina and aluminium, has reported results for the Financial Year 2020-21. According to the audited financial results, taken on record in the Board of Directors meeting held today at Bhubaneswar, NALCO has posted an impressive net turnoverand net profit ...

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Shri Dharmendra Pradhan inaugurates the 270 Bedded Oxygenated COVID Care Centre at JSPL, Angul, Odisha

Union Minister of Petroleum and Natural Gas & Steel Shri Dharmendra Pradhan today dedicated the COVID Care Centre at Jindal Steel & Power Ltd (JSPL) Plant Angul, Odisha in the presence of Odisha Health & Family Welfare Minister Shri Naba Kisore Das and JSPL’s Chairman Shri Naveen Jindal. Sambalpur MP Shri Nitesh Ganga Deb, Chhendipada MLA Shri Susanta Kumar Behera, ...

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NALCO stands in solidarity with people of Odisha in the fight against Covid : Extends support for operationalisation of Covid Healthcare facilities at Angul & Koraput

Moved by the second wave of the COVID pandemic, National Aluminium Company Limited (NALCO), a Navratrna CPSE under the Ministry of Mines, Govt. of India is leaving no stone unturned to stand in solidarity with the people of Odisha, in the fight against COVID-19. Deeply concerned by the surge in the number of cases and sufferings of people, NALCO is ...

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Business done by Hindustan Aeronautics Limited (HAL)

Business done by HAL in last ten years is as under:- Rs. In Crore Particulars 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 Revenue from Operations 13124 14211 14328 15135 15730 16758 17950 18519 20008 21438 Profit before tax 2839 3328 3497 3578 3172 3207 3583 3240 3742 3928 The list of defence equipment manufactured by HAL is ...

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Sanction for prosecution accorded in 366 cases in violation of CSR provisions

Whenever any violation of CSR provisions is reported, action against such non-compliant Companies are initiated as per provisions of the Act after due examination of records and following due process of law. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today. ...

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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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Competition Commission of India organises Sixth Edition of National Conference on Economics of Competition Law

The Competition Commission of India (CCI) here today organised the Sixth National Conference on Economics of Competition Law through virtual mode. Shri N. K. Singh, Chairman, Fifteenth Finance Commission was the Keynote Speaker at the Conference. Mr Ashok Kumar Gupta, Chairperson, CCI, delivered the Special Address at the Inaugural Session and Dr. Sangeeta Verma, Member, CCI opened the Conference with ...

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CCI approves acquisition by Bank of India (BOI) of BOI AXA Investment Managers Private Limited and BOI AXA Trustee Services Private Limited

The Competition Commission of India (CCI) approves acquisition by Bank of India (“BOI”) of BOI AXA Investment Managers Private Limited (“BOIAXA IM”) and BOI AXA Trustee Services Private Limited (“BOIAXA TS”) under Section 31(1) of the Competition Act, 2002, today. The proposed combination involves the acquisition of 49 % of the total share capital of BOI AXA IM & BOI ...

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