Cabinet approves amendment of Direct Tax Vivad se Vishwas Bill, 2020

The Union Cabinet approved the amendment of the Direct Tax Vivad se Vishwas Bill, 2020, so that it also covers the litigations pending in debt recovery tribunals (DRTs) across the country. The scheme can be availed in search and seizure procedures, where ..

Cabinet Approval: Capital Infusion in three public sector Units OICL, UIICL and NICL

On February 12, 2020, the Union Cabinet approved on capital infusion in three Public Sector Units namely United India Insurance Company (UIICL), Oriental Insurance Company Limited (OICL) and National Insurance Company Limited (NICL). Highlights During the meet the cabinet also ..

Month: Current Affairs - February, 2020

ArcelorMittal’s takeover of Essar cleared by apex court

On 15 Nov, the three judge bench of the Supreme Court has accepted world’s largest steelmaker, Arcelor Mittal’s offer to pay an aggregate Rs 42,000 crore as an upfront amount to the secured financial creditors of bankrupt Essar Steel.  This ..

MCA notifies Insolvency and Bankruptcy Rules, 2019

On 15 Nov, the Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (Rules).  The rules will provide a framework for insolvency and ..

India ranked 63rd as per latest Doing Business Report

India has been ranked 63rd among 190 countries, as per latest Doing Business Report (DBR, 2020) of World Bank (WB). As per report, the World Bank (WB) has recognized India as one of the top 10 improvers for the third ..

BoB signs MoU with Indian Army for customised services

The Bank of Baroda (BoB) has signed a Memorandum of Understanding (MoU) with Indian Army under which the bank would offer customised services along with a host of facilities to account holders. The MoU offers handsome free personal accident insurance ..