-Business Standard The task force also highlighted that companies had been misused to channel unaccounted cash after demonetisation in November 2016 Mumbai: The government’s task force has arrived at a formula to define a ‘shell company’, a move critical for enforcement agencies to crack down on dubious entities exploiting the regulatory framework. According to sources, the task force has listed 18 key parameters, including beneficial ownership and the nature of business dealings, to...
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What does corporate data tell us about job growth in India? -Tadit Kundu and Pramit Bhattacharya
-Livemint.com Corporate job growth has recovered over the past couple of years but the pace of job creation remains lacklustre The promise of creating new jobs helped Narendra Modi and his Bharatiya Janata Party (BJP) win a historic victory in the 2014 general elections. With a year left for the next general elections, Modi and his government find themselves under fire from opponents for what they perceive to be a failure to...
More »We mean business, mostly -Pradeep Narayanan & Dheeraj
-The Hindu Business Line Lack of financial transparency and social inclusion is at the root of India’s lopsided growth story, finds the India Responsible Business Index ‘Sab kuchh dikhta hai (everything is visible)’, the tag line of the now controversial Rotomac pens seems to assume a sinister meaning in light of the recent financial fraud involving owners Vikram and Rahul Kothari. The recently unearthed Nirav Modi scam, with no LoU [Letter of Understanding]...
More »India's wilful defaulters owe more than Rs 1 lakh crore to banks -Atul Thakur
-The Times of India NEW DELHI: As on September 30, 2017, more than Rs 1.1 lakh crore was owed to banks by people or companies characterised as “wilful defaulters”, that is those who are unwilling to pay despite having the capacity to do so. TOI analysed more than 9,000 such accounts for which banks have filed lawsuits for recovery and found that the top 11 debtor groups, each with dues of...
More »Bhargavi Zaveri, senior research associate at the Indira Gandhi Institute of Development Research, interviewed by Nitin Sethi (Scroll.in)
-Scroll.in The Insolvency and Banking Code was brought in as a law in May 2016 to resolve cases of unpaid debts by companies. It allows creditors to initiate insolvency proceedings against defaulting companies so as to recover their money. The code was thought necessary because existing systems of dealing with insolvent companies had failed to deliver, with cases dragging on for years without result. The code sets up an Insolvency and Bankruptcy...
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