Include Videocon foreign arms in insolvency process: NCLT
Thursday, February 13, 2020, 8:50 PM
The NCLT has ordered the inclusion of Videocon's oil-businesses in Brazil and Indonesia as part of insolvency proceedings being conducted in India, according to two-people aware of the matter. The order is the first instance of overseas incorporated subsidiaries being brought under the ambit of local-insolvency-laws. The assets include stakes in overseas oil blocks held through Videocon arms incorporated in the Cayman-Islands and British-Virgin-Islands.
Government using public money for corporate benefit: CPM
Friday, September 20, 2019, 5:38 PM
The CPM on Friday accused the BJP-led government of amending the Income Tax Act to give concessions to the corporates and superrich to the tune of Rs.1.45L-crore and said the "corporate-communal nexus was imposing greater miseries on the Indian people". In a statement, the CPM politburo said the concessions announced come over the Rs.70,000 crore of concessions to the realty and exports sectors recently.