News digest: NPA disclosure rules, anti-profiteering clause, and more

Capital expenditure done, Reliance Industries now eyes debt reduction

In June 2011, at Reliance Industries’ (RIL’s) 37th annual general meeting (AGM), Chairman and Managing Director Mukesh Ambani had told shareholders that RIL would be a “debt-free” company.
Ten months later, RIL was virtually debt-free on a net-cash basis at the consolidated level, after considering its cash and bank balances as well as investments. Read more

NPA disclosure rules: Sebi keen on implementing a revised proposal

The Securities and Exchange Board of India (Sebi) has approached the Prime Minister’s Office (PMO) and the Ministry of Corporate Affairs (MCA) to look into its proposal mandating listed companies to make public disclosures within a day of loan defaults. Read more

Jittery over govt's anti-profiteering drive under GST, firms may move court

Anxious over the government's anti-profiteering drive under the goods and services tax regime, companies in the segments of fast-moving consumer goods (FMCG) and information technology (IT) software are planning to petition the high courts in Delhi and Mumbai, seeking more clarity on the clause.Read more

Budget 2018: Agriculture sector to get top priority, says Arun Jaitley

Ahead of the Union Budget, Finance Minister Arun Jaitley on Sunday said the agriculture sector was the top priority for the government because the country’s economic growth is not “justifiable and equitable” unless the benefits are “clear and evident” in the farm sector. Read more

JSW to bid in partnership with a global PE player for Binani Cement today

JSW Cement will make a bid on Monday in partnership with a global private equity (PE) player for debt-laden Binani Cement.
The bid deadline for Binani is Monday.
JSW Cement managing director Parth Jindal said the PE entity would have a majority in the proposed entity. Read more

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