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    August 28, 2026
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August 28, 2026
CPI(M) hits out at NCLT over Subhash Chandra's Rs 6.5-Cr repayment plan against Rs 22,006-Cr claims
Show AI Summary
Insolvency debt settlements: political criticism alleges severe creditor haircuts favour influential corporate borrowers over ordinary debtors.
CPI(M) criticised approval of a repayment plan involving Zee Group founder Subhash Chandra, asserting that repayment of Rs 6.5 crore against creditor claims of Rs 22,006.57 crore undermines fairness in insolvency debt settlement. It alleged severe creditor haircuts and bias favouring influential corporate borrowers. The party linked the settlement to an alleged pattern of large borrowers resolving liabilities at steep discounts, shifting the burden to taxpayers and small depositors while smaller borrowers face coercive recovery measures.
August 28, 2026
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Show AI Summary
Corporate governance requires company secretaries to promote ethical practices, transparency, responsibility and institutional accountability across economic ecosystems.
Good corporate governance is central to development and depends on responsible governance, ethical practices, transparency, institutional accountability and professional excellence. Company Secretaries have an expanding role in strengthening governance practices through professional expertise. Professional institutions should promote governance standards, support institutional excellence, and evolve their practices in response to changing requirements. Their wider contribution lies in fostering a culture of ethical entrepreneurship, responsibility, transparency and sound governance.
August 28, 2026
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Show AI Summary
Proceeds-of-crime tracing prompts freezing of deposits linked to structured disposal of foreign property in a bank-loan fraud investigation.
Money-laundering investigation into alleged bank-loan fraud involving DHFL has resulted in the freezing of bank deposits held by Al Jalore Trading FZE under the Prevention of Money Laundering Act. A United Kingdom property was allegedly disposed of through a purported loan arrangement that created an encumbrance to settle an Indian liability. Sale proceeds were credited to Al Jalore Trading FZE's Indian bank account rather than to the registered owner, indicating alleged dissipation of proceeds of crime through a structured foreign-property transaction.
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Open General Export Licence arrangements permit eligible exporters to self-generate authorisations for multiple consignments of specified defence items without obtaining separate authorisation for each consignment. Three existing licence procedures are consolidated into a unified framework. Licence validity is extended to three years, and territorial coverage is expanded to all countries other than negative or sensitive nations and destinations subject to United Nations Security Council sanctions or arms embargoes. Eligible companies with long-term foreign original equipment manufacturer agreements may obtain licences aligned with the underlying contract, subject to prescribed conditions.
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Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
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Sugar import liberalisation and stockholding limits seek to moderate retail prices amid constrained domestic supply and restricted exports.
Sugar price-control measures combine duty-free raw sugar imports, stockholding limits for dealers and bulk consumers, and an export prohibition to address elevated retail prices and curb hoarding. Domestic supply remains constrained by reduced sugarcane output, prior exports and diversion of sugar to ethanol. Net production is estimated below projected domestic demand, while closing stocks are expected to remain limited. Import access, inventory restrictions and export controls therefore operate as market-stabilisation mechanisms.

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Income Tax

Amended provisions of Income Tax Rules, 1962 regarding Tax Deducted at Source (TDS) and Tax Collected at Source (TCS)

June 13, 2010

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Notification no. 41/2010 dated 31-5-2010 amends various provisions relating to Tax Deducted at Source (TDS) and Tax Collected Source (TCS). The relevant provisions of Income Tax Rules, 1962 [Chapter VI] and [Chapter VIA] have been amended time to time as under:

Amended Rules

Particulars

Amendment no. 1

Amendment no. 2

Amendment no. 3

Rule - 030

Time and mode of payment to Government account of tax deducted at source or tax paid under sub-section (1A) of section 192

Notification no. 41/2010 dated 31-5-2010 [Income-tax (6th Amendment) Rules, 2010] - w.e.f. 1-4-2010

Notification no. 9/2010 dated 18-2-2010 [Income-tax (First Amendment) Rules, 2010] - w.e.f. 1-4-20009

Notification no. 31/2009 dated 25-3-2009 [Income-tax (8th Amendment) Rules, 2009] - w.e.f. 1-4-2009

Rule - 031

Certificate of tax deducted at source to be furnished under section 203.

Notification no. 41/2010 dated 31-5-2010 [Income-tax (6th Amendment) Rules, 2010] - w.e.f. 1-4-2010

Notification no. 9/2010 dated 18-2-2010 [Income-tax (First Amendment) Rules, 2010] - w.e.f. 1-4-20009

Notification no. 31/2009 dated 25-3-2009 [Income-tax (8th Amendment) Rules, 2009] - w.e.f. 1-4-2009

Rule - 031A

Quarterly statement of deduction of tax or collection of tax

Notification no. 41/2010 dated 31-5-2010 [Income-tax (6th Amendment) Rules, 2010] - w.e.f. 1-4-2010

Notification no. 9/2010 dated 18-2-2010 [Income-tax (First Amendment) Rules, 2010] - w.e.f. 1-4-20009

Notification no. 31/2009 dated 25-3-2009 [Income-tax (8th Amendment) Rules, 2009] - w.e.f. 1-4-2009

Rule - 031AA

Statement of collection of tax under proviso to sub-section (3) of section 206C.

Notification no. 41/2010 dated 31-5-2010 [Income-tax (6th Amendment) Rules, 2010] - w.e.f. 1-4-2010

Notification no. 9/2010 dated 18-2-2010 [Income-tax (First Amendment) Rules, 2010] - w.e.f. 1-4-20009

[Rule 31AA inserted]

Notification no. 31/2009 dated 25-3-2009 [Income-tax (8th Amendment) Rules, 2009] - w.e.f. 1-4-2009

[Rule 31AA omitted]

Rule - 037A

Omitted [Old: Returns regarding tax deducted at source in the case of non-residents.]

Notification no. 41/2010 dated 31-5-2010 [Income-tax (6th Amendment) Rules, 2010] - w.e.f. 1-4-2010

[This rule omitted]

Notification no. 9/2010 dated 18-2-2010 [Income-tax (First Amendment) Rules, 2010] - w.e.f. 1-4-20009

[New Rule inserted]

-

Rule - 037CA

Time and mode of payment to Government account of tax collected at source under section 206C.

Notification no. 41/2010 dated 31-5-2010 [Income-tax (6th Amendment) Rules, 2010] - w.e.f. 1-4-2010

Notification no. 9/2010 dated 18-2-2010 [Income-tax (First Amendment) Rules, 2010] - w.e.f. 1-4-20009

 

Notification no. 31/2009 dated 25-3-2009 [Income-tax (8th Amendment) Rules, 2009] - w.e.f. 1-4-2009

 

Rule - 037D

Certificate of tax collected at source under section 206C(5).

Notification no. 41/2010 dated 31-5-2010 [Income-tax (6th Amendment) Rules, 2010] - w.e.f. 1-4-2010

Notification no. 9/2010 dated 18-2-2010 [Income-tax (First Amendment) Rules, 2010] - w.e.f. 1-4-20009

 

Notification no. 31/2009 dated 25-3-2009 [Income-tax (8th Amendment) Rules, 2009] - w.e.f. 1-4-2009

 

 

 

 

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