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    Insolvency and Bankruptcy Board of India notifies Corporate Voluntary Liquidation Process Regulations
    South Asia Subregional Economic Cooperation (SASEC) Operational Plan (OP) 2016-25 includes nine projects worth $2.4 Billion
    Govt slashes small saving schemes interest rates by 0.1%
    India signs First Loan Agreement with New Development Bank for US$ 350 million for Development and Up-gradation of Major District Roads Project in Mad...
    Memorandum on Pilot Project for Electronic Cargo Tracking System to facilitate transit cargo movement between India and Nepal to be signed
    Practical Guide to the Standard on Cost Auditing (SCA) 101 - Planning an Audit of Cost Statements - DRAFT
    Competition Commission of India (CCI) invites comments from public in respect of proposed combination between Agrium, Inc. and Potash Corporation of S...
    India's Stand on Work Visas
    Trade Facilitation Agreement of WTO
    Industrial Corridors
    Trade Mark Applications
    India Signs Financing Agreement with World Bank for Us$ 100 Million for Uttarakhand Health Systems Development Project.
    CCI issues order against CIL and its subsidiaries for abusing dominant position, imposes penalty
    CCI finds the conduct and practice of Association of Malayalam Movie Artists (AMMA), Film Employees Federation of Kerala (FEFKA), FEFKA Director’s U...
    Workshop on Trade Facilitation in Services
    All Agency Banks and select offices of RBI to remain open on all days from March 25, 2017 to April 1, 2017
    3rd International Conference on Alternate
    Commerce & Industry Minister emphasises the need for efficient and fair flow of services to promote international trade in services
    CCI invites comments from public in respect of proposed combination between Dow Chemical Company (Dow) and E. I. du Pont de Nemours and Company(DuPont...
    Repayment of 7.49% Government Stock 2017 (con) on April 13, 2017
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    March 31, 2017
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    Voluntary liquidation process: regulations set initiation criteria, liquidator independence, disclosures, asset realisation and distribution procedures.
    The regulations establish a framework for voluntary liquidation: initiation requires a majority director/partner declaration that the corporate person has no debt or can pay debts in full and is not being liquidated to defraud; the liquidator may seek suspension from the Adjudicating Authority if fraud or inability to pay is suspected. They prescribe liquidator independence and disclosure obligations, prohibit conflicted professionals from acting or representing stakeholders, and set procedures for announcements, claim verification, asset realisation, distribution, and eight-year record preservation after dissolution.
    March 31, 2017
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    Regional connectivity advances through approved transport and corridor projects, expanding infrastructure financing and trade facilitation outcomes.
    The SASEC Operational Plan 2016-2025 sets a long term strategy for transport, trade facilitation, energy and economic corridor development. ADB approved nine projects totalling $2.42 billion with $1.43 billion in ADB financing, including rail, corridor and bridge investments, and targeted road, trade facilitation and energy projects across member countries. The OP emphasises extending road and rail links toward eastern trade routes, streamlining trade procedures, and mobilising a pipeline of over 200 potential projects requiring substantial investment, with a large cluster identified in India's Northeast and eastern regions.
    March 31, 2017
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    Small savings interest rates cut leads to lower bank deposit rates as government links scheme yields to bond yields.
    Government lowered small saving scheme interest rates by 0.1 percentage point for the April-June quarter while keeping savings deposit rate at four percent; PPF and 5 year NSC at 7.9 percent, KVP at 7.6 percent (112 month maturity), Sukanya Samriddhi and 5 year Senior Citizens scheme at 8.4 percent, term deposits (1-5 years) at 6.9-7.7 percent, and the 5 year recurring deposit at 7.2 percent. Rates are set quarterly and linked to government bond yields, with the change expected to induce banks to cut deposit rates.
    March 30, 2017
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    Loan agreement enables infrastructure financing to upgrade district roads and boost rural connectivity and economic activity.
    First loan agreement between the Government of India and the New Development Bank finances upgradation, rehabilitation or reconstruction of approximately fifteen hundred kilometres of district roads in Madhya Pradesh to intermediate lane and all weather standards, with road safety features and strengthened asset maintenance and management; implemented over five years by the Government of Madhya Pradesh and the Madhya Pradesh Road Development Corporation.
    March 30, 2017
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    Electronic Cargo Tracking System pilot to monitor transit cargo and reduce border clearance time and costs for cross-border movement.
    A Memorandum of Intent proposes a pilot Electronic Cargo Tracking System to monitor Nepal-bound cargo from Indian ports to the Nepal border, aiming to replace time-consuming physical inspections with continuous electronic tracking for containers and full trucks to reduce clearance time and costs. The pilot will use satellite positioning, cellular communications, RFID and web-based software to secure cargo in transit and deter interference, and is intended as a replicable trade-facilitation model for other corridors and inland transshipment.
    March 30, 2017
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    Planning cost statement audits: establish strategy and plan, assess risks and materiality, document procedures and changes.
    The Guidance Note to SCA 101 requires cost auditors to perform pre engagement checks (appointment, ethics, terms), develop an Overall Audit Strategy and a detailed audit plan tailored to the entity's characteristics, assess risks of material misstatement through understanding the entity and performing inquiries, analytical procedures and inspections, and to design responses linking nature, timing and extent of procedures to assessed risks. Auditors must determine materiality, document and update strategy and plan as needed, consider reliance on others and experts, and maintain comprehensive audit documentation of procedures, changes and judgements.
    March 29, 2017
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    Appreciable adverse effect on competition prompts public consultation on proposed merger affecting potash supply via Canpotex joint venture.
    The Commission considers the Agrium-PotashCorp combination likely to have an appreciable adverse effect on competition concerning potash supply to India and has invited written comments from affected persons within fifteen working days after publication. Parties published transaction details in national newspapers and online. Both foreign parties supply potash to India indirectly via the joint venture Canpotex and minority stakes in other suppliers; the proposed merger into a New Parent would consolidate control over Canpotex alongside Mosaic, prompting the Commission's consultation.
    March 29, 2017
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    Work visa access: India raises H-1B and L-1 processing, rejection and fee concerns with US and at WTO.
    India engaged the US Administration over work visa access for Indian professionals, highlighting H-1B and L-1 processing problems, higher rejection rates and an increase in visa processing fees. The government also raised the visa fee increase in the World Trade Organisation's Dispute Settlement Body and made bilateral representations on operational difficulties faced by Indian services companies, as disclosed in a written parliamentary reply by the Commerce and Industry Minister.
    March 27, 2017
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    Trade Facilitation Agreement implementation to simplify border procedures and enhance transparency, reducing trade transaction costs.
    India ratified the Trade Facilitation Agreement and established a National Committee on Trade Facilitation chaired by the Cabinet Secretary to implement border management simplification and transparency measures that reduce transaction costs for imports and exports. India also tabled a Concept Note on Trade Facilitation in Services at the WTO, separate from other countries' visa fee measures, and has urged the UK not to accept certain Migration Advisory Committee recommendations to protect bilateral services trade.
    March 27, 2017
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    Feasibility study engagement for an economic corridor advances infrastructure planning and enables targeted financing support.
    Government concurrence was granted to engage a multilateral development bank to conduct a feasibility study and prepare a Conceptual Development Plan for the East Coast Economic Corridor linking Kolkata through Chennai to Tuticorin; the bank submitted a final plan for the Visakhapatnam-Chennai Industrial Corridor, master planning for two nodes has begun, the bank approved loans and grants for VCIC infrastructure, and agreed to a feasibility study for inclusion of Puducherry as a node.
    March 27, 2017
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    Trade mark procedural reform - new rules streamline filing, reduce forms and introduce e service and expedited processing.
    Reforms streamline trade mark processing by reducing forms and rationalizing fees, incentivising e filing and lower fees for individuals/startups; introducing electronic service with mandatory email, video conferencing hearings, extended expedited processing to registration stage, limits on adjournments, and simplified registered user procedures; administrative measures include increased examiner strength, automated electronic registration certificates, a pre hearing scrutiny module, examiner sensitization, supervisory discussions, and strengthened online filing to reduce pendency.
    March 25, 2017
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    Project financing secures health systems development funding, enabling PPP clinical clusters and expanded financial risk protection.
    A financing agreement with an international lender funds the Uttarakhand Health Systems Development Project, including a State counterpart contribution and a specified closing date. The project aims to improve access to quality health services in hilly districts and expand health financial risk protection. It comprises two main components: private-sector engagement via clustered PPP-operated clinical service units providing free or nominal-charge care, and stewardship and systems improvement to strengthen state capacity, oversight, and integration with the State's expanded health insurance program.
    March 25, 2017
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    Abuse of dominant position found for unilateral imposition of unfair fuel supply conditions; FSAs ordered modified and penalty reduced.
    CCI found Coal India Limited and its subsidiaries dominant in the non-coking coal market and in contravention of Section 4(2)(a)(i) for unilaterally imposing unfair and discriminatory terms in Fuel Supply Agreements-notably sampling and testing procedures, charging buyers for transportation of ungraded coal, and capping compensation for stones. The Commission issued a cease-and-desist direction, ordered modification of FSAs with stakeholder consultation, required uniformity across producer types, and mandated fairer sampling practices, including consideration of unloading-end sampling and international best practices, while imposing a reduced penalty for the abusive conduct.
    March 25, 2017
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    Group boycott by industry associations found to be an anti-competitive horizontal restraint, prompting cease-and-desist and penalties.
    The Commission found that coordinated decisions by AMMA, FEFKA, two FEFKA unions and five office-bearers constituted a collective denial of market access-inducing industry participants not to work with a particular filmmaker or non-members-amounting to a group boycott and horizontal restraint with an appreciable adverse effect on the Malayalam film industry, and directed the associations and individuals to cease such conduct and imposed monetary penalties based on their assessed average income.
    March 25, 2017
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    Trade facilitation in services: debate over standalone framework versus targeted measures addressing mobility, data flows and insurance constraints.
    A multistakeholder workshop reviewed approaches to trade facilitation in services, comparing India's standalone TFS proposal with alternative measures and stressing the need to address market access alongside facilitation. Participants highlighted Special and Differential Treatment for developing countries and flagged regulatory challenges including Mode 4 mobility disciplines, data protection barriers to cross border data flows for Mode 1, and cross border insurance coverage, while noting the role of international institutions and business stakeholders in shaping equitable, rules based solutions.
    March 25, 2017
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    Agency bank operational continuity: government-dealing branches to stay open on all holidays to facilitate receipts and payments.
    Directive requiring Agency Banks and designated Reserve Bank departments performing government business to remain open on all days, including weekends and holidays, to facilitate government receipt and payment functions, covering all bank branches dealing with government business for the current financial year and specifically on April 1, 2017.
    March 24, 2017
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    Alternate fuels policy to boost AFR adoption in cement, backed by standards and international technical funding for scale-up.
    Promotion of Alternate Fuels and Raw Materials (AFR) usage in the cement sector is a policy priority to raise the Thermal Substitution Rate; the government committed to framing conducive policies, endorsed recent BIS Standards on Composite Cement, and industry plus international partners (including Norwegian-funded SINTEF collaboration) were presented as technical and funding mechanisms to scale AFR implementation and address operational challenges.
    March 23, 2017
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    Trade facilitation in services seeks to address border and behind the border barriers to enable fair international services trade.
    Facilitating international trade in services is presented as a regulatory priority aimed at removing border and behind the border barriers across all modes of supply. India has tabled a draft Trade Facilitation in Services legal text at the WTO, following a Concept Note and Elements Paper, to create a rule based framework addressing impediments identified by industry; the proposal has attracted interest and raised concerns among Members and invites stakeholder engagement and multilateral deliberation.
    March 23, 2017
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    Appreciable adverse effect on competition found in Dow-DuPont merger; public comments invited under Section 29 process.
    The Commission has a prima facie view that the Dow-DuPont combination is likely to have an appreciable adverse effect on competition and has directed publication of the combination details under Section 29(2). It invites written comments, objections and suggestions from persons adversely affected or likely to be affected under the consultation procedure provided by Section 29(3), with responses due within the statutory time period from the date of publication; parties have published details in national newspapers and online.
    March 22, 2017
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    Repayment of Government Stock due date set; holders must provide bank details or tender securities for payment.
    Outstanding 7.49% Government Stock 2017 (con) is repayable at par on April 13, 2017. Payment will be made to the registered holder by pay order with bank account particulars or by credit through electronic means; holders must submit bank account particulars well in advance. If no electronic mandate is provided, holders may tender duly discharged securities at Public Debt Offices, Treasuries/Sub-Treasuries, or specified State Bank branches where enfaced/registered for interest, at least 20 days before the due date to facilitate repayment.

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