The Supreme Court has annulled the RBI’s February 12 circular on ‘Resolving bad debts’ and said the banking regulator had acted beyond its legal powers while issuing the directive.The broad contours of the judgment are as follows:l The February 12 circular had asked lenders to institute a...
The Indian steel industry had suffered in the past from the structural ailment of fragmentation. Consolidation efforts were offset by growth in secondary steel units with low capacities, leaving the steel industry highly fragmented. This resulted in structurally imbalanced industry dynamics where ca...
A big challenge facing the Credit Delivery Mechanism today is the rising tide of non-performing assets (NPA). The Insolvency and Bankruptcy Code, 2016, was designed as a corrective measure. An amendment was announced on November 23, 2017, barring the promoters from participating in any resolution pl...
At the stroke of midnight on June 30, the Goods and Services Tax (GST) has became a reality. Businesses expect a well-designed GST to simplify and rationalize the current indirect tax regime, eliminate tax cascading and put the Indian economy on a high-growth trajectory. The contours of the law may ...
Looking at the final shape of the GST Bill, ideated with all good intentions, one is reminded of the quote: Good intentions are simply not enough. Our character is defined and our lives are determined not by what we want, say or think, but by what we do. - Michael JosephsonBy now the potential...
