Reliance may set up LNG retail outlets, charging points for electric vehicles
Reliance Industries Ltd (RIL) is considering a plan to enter retailing of liquefied natural gas and setting up of charging stations for electric vehicles at its petrol pumps, two people aware of the plan said. At the end of April 2017, RIL operated 1,221 of its 1,470 fuel retail outlets. The company plans to re-open the rest of the outlets by the end of the year. RIL holds licenses for 5,000 fuel retail outlets.
Independent directors of Tata Chemicals, TCS get double-digit hikes
The e independent directors of Tata Chemicals and Tata Consultancy Services (TCS), which witnessed a boardroom battle last year after its former chairman Cyrus Mistry’s ouster, received a good increase in compensation for the fiscal year ended March 31. Statistics collated from the annual reports of the two companies show Y S P Thorat, an independent director of Tata Chemicals, received a 26.3 per cent increase in 2016-17, while Nasser Munjee received a 20.7 per cent hike.
Paytm Mall delists 85,000 sellers in quality drive
Paytm Mall, the e-commerce arm of Paytm, has delisted about 85,000 sellers from its platform as it gears up to take on bigger rivals like Flipkart and Amazon.The move comes at a time when the Noida-based company is trying to enhance its customer experience on the platform as it has to fight established rivals.
Insolvency professionals in high demand: CAs, cost accountants, and company secretaries rush to get qualified
As India’s banks try and resolve the bad loans that have long burdened the industry and pose a significant macroeconomic risk, insolvency professionals stand to get a big career boost. Chartered accountants, cost accountants, and company secretaries are said to be rushing to get themselves qualified in their hundreds—and this is said to be just the beginning. If the bankruptcy process unfolds as it’s meant to, thousands of insolvency professionals will be needed to oversee the process.
Good news: Planning to buy second-hand cars, motorcycles or any other item? Now, Modi govt announces no GST on used goods
Weeks after GST was implemented, here is some good news for people interested in buying and selling of second-hand goods. According to the government, buying and selling of second-hand items will not attract Goods and Services Tax if sold at a price cheaper than the purchase price. The clarification from the government comes after doubts were raised regarding the applicability of the Margin Scheme under the GST for dealers in second-hand goods in general and for dealers in old and used empty bottles in particular.
RBI may push for resolution of bad loans worth Rs 8 lakh crore by March 2019: Study
Emboldened by the Banking Regulation (Amendment) Ordinance, the RBI is expected to push for resolution of bad loans worth around Rs 8 lakh crore by March 2019, a move that could bring down the NPAs and improve the financial health of banks, a study by Assocham said. “So, it should be safe to assume that the non-performing assets (NPAs) mess would largely be resolved by the first quarter of financial year 2019-20,” an Assocham study titled ‘NPAs Resolution: Light at the end of tunnel by March 2019’ said.
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