Dipak Mondal

Large haircuts under insolvency law are not uncommon: IBBI chief MS Sahoo

Two things are on the ground – one, is the available assets in the books of the corporate debtor, and the amount due in the books of creditors. 

12 Jun 2021

Hyatt Regency closure: Hotel management blames Yes Bank for blocking account, Holding back funds

Yes Bank took this drastic step after the hotel management defaulted on loan repayments. 

09 Jun 2021

DHFL depositors left high and dry after NCLT approves Piramal’s bid

As per the resolution plan approved by the NCLT, 74,500 fixed depositors are likely to get only 20-25% of their total claims of Rs 5,360 crore. 

07 Jun 2021

Ex-promoter uses IBC’s controversial settlement provision to get back control of Rolta India

The insolvency application was moved on 26 February by an ex-employee – Dinesh Gupta – who was not paid salaries for 6 months, leave encashment and gratuity totaling Rs 10.42 lakh.

07 Jun 2021

Will the proposed 15 per cent minimum tax rate take away India’s competitive edge?

 India currently has the lowest corporate tax rate of 15 per cent for new manufacturing companies.

06 Jun 2021

Uttam Galva lenders approve ArcelorMittal arm’s Rs 4,000 crore bid

The committee of Creditors (CoC) of Uttam Galva Steel has approved AM Mining India Private Ltd’s bid for the distressed steel company by 100 per cent vote share.

04 Jun 2021

USTR defers punitive tariff against India’s digital tax

The USTR, which is responsible for developing and coordinating the US’ international trade, commodity, and direct investment policy,

03 Jun 2021

FDI from US, UAE see sharp jump in FY21, Singapore continues to be leader

After the amendment of its tax treaty with India, Mauritius continues to decline as a source of FDI.

30 May 2021

RBI expresses concern on India’s equity market 'bubble'

The Central Bank in its annual report 2020-21 said that that magnitude asset price inflation in the country given the estimated 8% contraction in GDP in 2020-21 poses the risk of a bubble.

27 May 2021

GST Council forms Group of Ministers to examine taxation in casinos, gaming websites

The Group of Ministers (GoM) will be convened by Gujarat Deputy Chief Minister and Finance Minister Nitin Patel

27 May 2021

States see large tax shortfall over initial projections in FY21

The Goods and Services Tax, the main source of tax revenue for the states, has shown similar trends as  tax revenue collections – a shortfall of 15-25 per cent. 

26 May 2021

Cairn tax dispute case: Govt refutes reports of PSU banks pulling out funds from foreign currency accounts 

The government said that these are totally incorrect reports which are not based on true facts. It has blamed ‘certain vested parties’ behind such misleading reporting.

23 May 2021

Why are developed economies of world looking to fix minimum corporate tax rate?

The idea behind having a minimum corporate tax rate is to check the practice of large corporations shifting their bases to low or no tax regimes to avoid paying taxes in their home countries.

22 May 2021

NCLT directs DHFL lenders to consider ex-promoter’s offer

This offer is better than Piramal Group, which has emerged as the highest bidder with Rs 35,500 crore for the whole loan portfolio of DHFL.

20 May 2021

RBI permitting India Inc to set up funds in GIFT City a big boost to IFSC

Experts say, the move is significant as, in the absence of clarity, Indian investors would shy away from sponsoring a fund in the GIFT City.

19 May 2021

Cairn makes damaging remarks on India’s handling of Air India

The UK-based energy giant sued Air India in a US court to recover the $1.2 billion arbitration award that it won against India in the retrospective tax dispute case. 

19 May 2021

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