Daily Sector News Today – 21.08.2017
* AVIATION: Air India plans to sell as many as 41 flats in different parts of Mumbai,
according to a notice by the national carrier which is continuing with the efforts to
monetise its assets.
- About 15 flights were diverted and several delayed as operations at Delhi airport
were suspended for over 30 minutes after a pilot spotted a drone flying in the vicinity of
the airport.
* BANKING: There is a need to resolve non-performing assets to free up capital and
enable lending, says the Reserve Bank of India Governor Urjit Patel.
- The government is looking to set up a new mechanism to speed up decisions on
possible mergers among state-run lenders.
* ECONOMY: India has imposed a definitive anti-dumping duty on import of tempered
glass from China for five years, effective Friday.
- Finance Minister Arun Jaitley said the National Company Law Tribunal must adhere
to the debt-resolution timeline of 180-270 days under the bankruptcy code.
- The finance ministry plans to sell more of its Specified Undertaking of the Unit
Trust of India holdings separately this year.
- India and Canada will resume formal negotiations this week for a free trade
agreement in goods and services.
* OIL AND GAS: The completion of the $12.9-bln Essar Oil buyout by Russia's
Rosneft and other partners is expected to be announced today.
* PHARMACEUTICALS: Shareholders of Gland Pharma are considering selling a
stake of up to 74% under the automatic approval route to China's Fosun International
after failing to secure government approval for an 86% stake sale.
- The government is contemplating restrictions on the import of active pharmaceutical
ingredient and has suggested setting up of mega bulk drug parks.
* REALTY: The Maharashtra Real Estate Regulatory Authority is planning to take
strict action against realty developers whose ongoing projects would remain
unregistered even after September 1, said a top official of the regulator.
* REGULATORY: The Securities and Exchange Board of India may need to formalise
norms applicable on insolvency resolution professionals and companies they manage,
as the number of cases filed with National Company Law Tribunal rises, a senior
industry. The Securities and Exchange Board of India has set the ball rolling for making
Aadhaar compulsory for stock trading.
- SEBI will deliberate with its board members in September on putting in place a
long-term cyber security framework for markets.
* TAXATION: The number of individual taxpayers who filed their tax returns
electronically during Apr 1-Aug 5 increased to 27.9 mln this year, 5.6 mln more than
the same period last year, the Central Board of Direct Taxes said in a report.
* TELECOMMUNICATION: Quality of network service is beyond the absolute
control of a telecom company as it depends on several extraneous factors such as
number of users accessing the network at a time and kind of device being used, the
Cellular Operators Association of India said.
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according to a notice by the national carrier which is continuing with the efforts to
monetise its assets.
- About 15 flights were diverted and several delayed as operations at Delhi airport
were suspended for over 30 minutes after a pilot spotted a drone flying in the vicinity of
the airport.
* BANKING: There is a need to resolve non-performing assets to free up capital and
enable lending, says the Reserve Bank of India Governor Urjit Patel.
- The government is looking to set up a new mechanism to speed up decisions on
possible mergers among state-run lenders.
* ECONOMY: India has imposed a definitive anti-dumping duty on import of tempered
glass from China for five years, effective Friday.
- Finance Minister Arun Jaitley said the National Company Law Tribunal must adhere
to the debt-resolution timeline of 180-270 days under the bankruptcy code.
- The finance ministry plans to sell more of its Specified Undertaking of the Unit
Trust of India holdings separately this year.
- India and Canada will resume formal negotiations this week for a free trade
agreement in goods and services.
* OIL AND GAS: The completion of the $12.9-bln Essar Oil buyout by Russia's
Rosneft and other partners is expected to be announced today.
* PHARMACEUTICALS: Shareholders of Gland Pharma are considering selling a
stake of up to 74% under the automatic approval route to China's Fosun International
after failing to secure government approval for an 86% stake sale.
- The government is contemplating restrictions on the import of active pharmaceutical
ingredient and has suggested setting up of mega bulk drug parks.
* REALTY: The Maharashtra Real Estate Regulatory Authority is planning to take
strict action against realty developers whose ongoing projects would remain
unregistered even after September 1, said a top official of the regulator.
* REGULATORY: The Securities and Exchange Board of India may need to formalise
norms applicable on insolvency resolution professionals and companies they manage,
as the number of cases filed with National Company Law Tribunal rises, a senior
industry. The Securities and Exchange Board of India has set the ball rolling for making
Aadhaar compulsory for stock trading.
- SEBI will deliberate with its board members in September on putting in place a
long-term cyber security framework for markets.
* TAXATION: The number of individual taxpayers who filed their tax returns
electronically during Apr 1-Aug 5 increased to 27.9 mln this year, 5.6 mln more than
the same period last year, the Central Board of Direct Taxes said in a report.
* TELECOMMUNICATION: Quality of network service is beyond the absolute
control of a telecom company as it depends on several extraneous factors such as
number of users accessing the network at a time and kind of device being used, the
Cellular Operators Association of India said.
