Shell companies: Govt may have applied Companies Act retrospectively to bar directors
The government may have applied the Companies Act, 2013, retrospectively when it disqualified the directors of over 200,000 companies that did not file their financial statements or annual returns for three straight years, lawyers said. On 12 September, Mint reported that the government had identified 106,578 such directors and planned to bar them from the boards of other firms in its fight to eradicate the black economy.
OTC medicines: Drug advisory body gives in-principle approval
Soon, pharmacists will be able to dispense drugs for minor conditions without a doctor’s prescription. The government’s advisory body on drugs—the Drug Consultative Committee (DCC)—has approved a proposal to introduce a new category of over the counter (OTC) medicines such as anti-allergy, antipyretic (for fever) and anti-emetic (for vomiting and nausea) drugs, which pharmacists will be empowered to dispense without a doctor’s prescription. The list includes muscle relaxants, decongestants, anti-inflammatory drugs, antacids, external preparations for skin and hormonal contraceptives.
Advantage Jio: Trai cuts IUC to 6 paise per minute from October 1
in a fresh blow to incumbent mobile operators, including Bharti Airtel and Vodafone, the Telecom Regulatory Authority of India (Trai) has cut the interconnect usage charges (IUC, also known as terminating charges) by 57 per cent to 6 paise per minute effective October 1, from 14 paise currently. In two years, the charges would come down to zero, meaning there won’t be any payment for calls landing on other telcos’ networks. The new charges are being seen as a relief for the latest entrant, Reliance Jio. It is estimated to save about Rs 3,800 crore annually from this move.
Govt makes public names of 55,000 directors of shell cos
After debarring over a lakh directors of shell companies, the government on Tuesday made public names of around 55,000 such directors. An intensive exercise to gather all background information on directors of shell companies is on in the corporate affairs ministry and more names are likely to come to fore. The list of directors of struck off companies includes jailed politician VK Sasikala of Indo Doha Chemicals and Pharmaceuticals. The data made public shows 24,000 such shell companies are from the Chennai region, and over 12,000 each from Ahmedabad and Ernakulam.
Soon, get petrol-diesel delivered at your home; IOC finalises container design
Taking another step towards realising the ambitious target of delivering diesel and petrol at the doorstep, Indian Oil Corporation(IOC), in consultation with the Petroleum and Explosives Safety Organisation (PESO), has finalised the design of the container to be used for this. “We have advanced slightly. We had discussions with PESO and a design has been frozen for containers to be used. We have worked out a design and there may be minor changes in consultation with PESO,” said Sanjiv Singh, chairman, IOC. He added that at present, the initiative is only to home-deliver diesel given petrol is more hazardous once it goes out of the licenced area.
Rs 100 coin released by Venkaiah Naidu to commemorate birth centenary of MS Subbulakshami
Vice President Venkaiah Naidu on Tuesday unveiled commemorative coins of Rs 100 and Rs 10 coins on the birth centenary of noted musician M S Subbulakshmi, PTI reported. Earlier, it was reported that Finance Ministry has issued a notification about the introduction of Rs 100 coin. However, the report by ANI had said that Rs 100 coin will be introduced to commemorate the birth centenary of Dr MG Ramachandran. Naidu released special commemorative coins of Rs 100 and Rs 10 denominations at an exhibition held to mark Subbulakshmi’s legacy, PTI reported.
Heavy rains lash Mumbai, schools, colleges to remain closed today
Three weeks after a deluge, rains returned to haunt Mumbai with the maximum city receiving between 40mm and 130mm of rainfall on Tuesday. Parts of Colaba, Churchgate, CST, Dadar, Worli, Bandra, Santacruz, Vile Parle, Andheri, and Borivli received very heavy rainfall from Tuesday afternoon onwards. And there will be no respite soon with the Met office predicting similar weather for the next two days. Schools and colleges in Mumbai Metropolitan Region (MMR) have been instructed to remain closed on Wednesday in the backdrop of heavy rains, the Maharashtra government announced Tuesday night.
Mexico struck by 7.1 magnitude earthquake, at least 149 people killed
At least 149 people were killed by a powerful earthquake of magnitude 7.1 that struck central Mexico on Tuesday, the nation’s civil protection agency said. The highest death toll was in Morelos state, just south of Mexico City, where 64 deaths were reported, said Luis Felipe Puente, the head of the agency. In Mexico City, at least 36 people were killed, he added. In the neighboring state of Mexico, at least nine people were killed. Twenty-nine deaths were reported in the state of Puebla, to the south, Puente said.
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