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    FM Reviews Capex With Secretaries & Financial Advisors of All Major Ministries
    CCI approves Combinations under Section 31(1) of the Competition Act, 2002
    Government constitutes Company Law Committee for examining and making recommendations on various provisions and issues pertaining to implementation of...
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September 27, 2019
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Capital expenditure monitoring: ministries must expedite vendor payments and monitor project execution to meet CAPEX targets.
Review of central government capital expenditure directed ministries to expedite clearance of outstanding payments to contractors, GeM vendors and MSMEs, and to monitor capital works monthly to achieve targeted aggregate CAPEX composed of capital head allocations, Grant-in-Aid for capital asset creation, and extra-budgetary resources; Department of Expenditure and ministries to intensify monitoring of large infrastructure projects and undertake follow-up reviews for revised and budget estimates to improve resource assessment and allocative efficiency.
September 24, 2019
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Combination approvals under competition law: three corporate transactions cleared including acquisitions and a pharmacy restructuring.
Approval of corporate combinations under Section 31(1) of the Competition Act, 2002 for three transactions: (i) Varenna Holdings Limited's acquisition of equity in Dixcy Textiles Pvt. Ltd., where Varenna already holds 60% and is an indirect subsidiary of Advent managed funds; (ii) acquisition of approximately up to 25.02% of Federal Mogul Goetze (India) Limited by Icahn Enterprises L.P., American Entertainment Properties Corp. and IEH FMGI Holdings L.L.C., acting in concert with Tenneco Inc.; and (iii) transfer by slump sale of AHEL's front end pharmacy business to Apollo Pharmacies Limited and its subsequent acquisition by identified investors.
September 19, 2019
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Corporate law reform committee to recommend re-categorisation of offences and settlement mechanisms enhancing ease of doing business.
A Company Law Committee has been constituted to review implementation of the Companies Act, 2013 and the Limited Liability Partnership Act, 2008 to enhance Ease of Doing Business and corporate compliance. Its remit includes re-categorising certain offences as civil wrongs where appropriate, examining settlement mechanisms and deferred prosecution agreements, reviewing the LLP framework, proposing measures to improve NCLT functioning and remove bottlenecks in statutory bodies, and identifying specific provisions and Forms requiring amendment. The Committee will submit phased, subject-wise recommendations and has an initial one-year tenure from its first meeting.

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Acts Income Tax