The Panatone Finvest Limited did the acquisition of Tata Communications Limited approved by CCI
February 23, 2021, 3:34:59 PM
Competition Commission of India (CCI) approves acquisition by the Panatone Finvest Limited (“Acquirer”) of Tata Communications Limited (“TCL”) under Section 31(1) of the Competition Act, 2002.
Proposed Combination envisages the proposed acquisition of such shareholding not exceeding 26.12% by the Acquirer in the Target (“Proposed Combination”). As a result of the Proposed Combination, the Acquirer Group / Tata Group would increase its shareholding from 48.87% to such shareholding not exceeding 74.99%.
The Acquirer is a Systemically Important Non-Deposit Taking Core Investment Company (“CIC-ND-SI”) registered with the Reserved Bank of India and is a subsidiary of Tata Sons and belongs to the Tata Group.
TCL is part of the Tata group and is a facilities-based service provider of a broad range of integrated communications services. It generates revenue from three business segments - wholesale voice, enterprise and carrier data and others. In India, TCL is, directly and indirectly through its subsidiaries, engaged in the following activities:
1. International Long-Distance services (“ILD”) – voice;
2. National Long-Distance services (“NLD”) – voice;
3. Undersea cable systems (“UCS”);
4. Internet Service Provider (“ISP”), offering connectivity, messaging, Internet telephony; and
5. Enterprise business providing valued-added services
A search and seizure operation conducted by the Income Tax Department in Kolkata
March 11, 2021, 7:31:22 AM
Kolkata: The Income Tax Department carried out a search and seizure operation on 10.03.2021 on two separate persons based in Kolkata, who are engaged in the handling of cash of others on a commission basis.
Income Tax Department, India, Kolkata
India cabinet approves Pradhan Mantri Swasthya Suraksha Nidhi as a single non-lapsable reserve fund
March 10, 2021, 9:22:05 AM
Delhi: Union Cabinet, chaired by the Prime Minister, Narendra Modi has approved the Pradhan Mantri Swasthya Suraksha Nidhi (PMSSN) as a single non-lapsable reserve fund for share of Health from the proceeds of Health and Education Cess levied under Section 136-b of Finance Act, 2007.
India, Finance, India Cabinet
Gurugram DGGI officials arrest 2 men for defrauding exchequer of over Rs 690 crore
March 10, 2021, 7:08:55 AM
Delhi: The ongoing investigation of the Directorate General of GST Intelligence, Gurugram Zonal Unit, were able to arrest two gang members of a fake invoicing syndicate, namely Vikas and Manish, who were involved in GST fraud by way of issuance of fake GST invoices in excess of Rs 4,800 crore which defrauded the exchequer of more than Rs 690 crore.
India, Income Tax Department
The Government takes steps to deal with Casteism and Communalism in the country
March 10, 2021, 6:50:50 AM
Delhi: The Central Government provides assistance to State Governments/ Union Territory Administrations towards incentive for inter-caste marriages, where one of the spouses is a member of a Scheduled Caste.
MCA strikes off 10,113 companies from April to Feb in 2020-2021
March 8, 2021, 1:49:31 PM
Rep. image, Office
Delhi: Ministry of Corporate Affairs (MCA) administers the Companies Act, 2013 (the Act), Limited Liability Partnership Act, 2008 and Insolvency and Bankruptcy Code, 2016. There is no provision for weeding out the Companies in the Act.
Railway Minister Piyush Goyal flags off Tanakpur-Delhi Jan Shatabdi Express special train
February 26, 2021, 11:22:48 AM
Rep. image, Train
Delhi: Minister Piyush Goyal said that the introduction of a new modern, safe, LHB coach Purnagiri Janshatabdi train, will boost tourism and connectivity in the region. The Minister also informed that electrification of Pilibhit- Delhi route was already complete, Tanakpur- Pilibhit route is also complete, only CRS inspection is awaited, soon the entire route (Tanakpur- Delhi) will be fully electrified.
INDIA RAILWAYS, Piyush Goyal
MHA extends guidelines for surveillance, containment and caution states/ UT to strictly enforce SOPs
February 26, 2021, 11:05:15 AM
Delhi: Ministry of Home Affairs (MHA) issued an Order today to extend the existing Guidelines for Surveillance, Containment and Caution to remain in force upto 31.03.2021.
Minister of Home Affairs (MHA), India
MoU sign by MCA & CBIC for exchange of data for enhancing the ease of doing business in India
February 25, 2021, 6:07:10 PM
Delhi: Ministry of Corporate Affairs (MCA) and Central Board of Indirect Taxes and Customs (CBIC), Ministry of Finance, signed a Memorandum of Understanding (MOU) for data exchange between the two organisations. The MoU was signed by Manoj Pandey, Joint Secretary, MCA, and B. B. Gupta, ADG, CBIC, in the presence of Rajesh Verma, Secretary, MCA and M. Ajit Kumar, Chairman, CBIC.
MoU, India, MCA, CBIC
India and Pakistan's joint statement on the situation along the Line of Control (LAC)
February 25, 2021, 2:03:51 PM
Delhi: The Director Generals of Military Operations of India and Pakistan held discussions over the established mechanism of hotline contact. The two sides reviewed the situation along the Line of Control and all other sectors in a free, frank and cordial atmosphere.
Line Of Control, LAC, India, Pakistan, Indian Armed Forces
Govt notifies IT (Intermediary Guidelines and Digital Media Ethics Code) Rules 2021
February 25, 2021, 1:44:00 PM
Delhi: Amidst growing concerns around lack of transparency, accountability and rights of users related to digital media and after elaborate consultation with the public and stakeholders, the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules 2021 has been framed in exercise of powers under section 87 (2) of the Information Technology Act, 2000 and in supersession of the earlier Information Technology (Intermediary Guidelines) Rules 2011.
Digital Media, India