Government Seeks Public Feedback on Draft Bill Proposing Repeal of Indian Stamp Act
Background The Indian Stamp Act, 1899 is a fiscal statute that lays down the law relating to tax levied in the form of stamps on instruments recording transactions. The Act is over a century old and has been amended several times to enable a more modern stamp duty regime. However, some of its provisions have […]
NHAI Plans Amendment of Model Concession Agreement for BOT Initiatives
The National Highways Authority of India (NHAI) is planning to amend its model concession agreement (MCA) for build-operate-transfer (BOT) projects in order to attract more private sector investments and revive the BOT toll model for highway development. Background The BOT toll model involves private developers building, operating and maintaining highways for a specified concession period, […]
Commerce Ministry Set to Launch Information Portal for Prospective Exporters
The Commerce Ministry of India is planning to launch an online platform in the next two to three months to provide all relevant information, including details about custom duties, for aspiring exporters. The portal, named ‘Trade Connect ePlatform’, will act as a one-stop place for getting all information on engaging in export activities. Benefits of […]
Indian Overseas Bank and IREDA Collaborate for Co-Lending in Renewable Energy Projects
Indian Renewable Energy Development Agency Ltd. (IREDA) and Indian Overseas Bank (IOB) have signed a Memorandum of Understanding (MoU) to co-finance renewable energy projects across the country. The MoU was signed on 16th January, 2024, at IREDA’s Business Centre in New Delhi. Co-lending and co-origination support The MoU includes provisions for co-lending and co-origination support […]
Byju’s Pursues Arbitration in Dispute with BCCI
Byju’s, the leading edtech startup in India, has filed an application to refer its dispute with the Board of Control for Cricket in India (BCCI) to an arbitrator, according to lawyers representing the company at the National Company Law Tribunal (NCLT). The company has also filed objections to the insolvency petition filed by BCCI, which […]
First Homes for the Differently Abled in India Launched by Paranjape Schemes
Paranjape Schemes, a leading real estate developer in Maharashtra, has officially launched India’s first homes for differently-abled individuals through the ‘Special Projects Division’ named ‘Swaniketan’. The project is located in Bhugaon, Pune, within the Forest Trails Township, and aims to provide a safe, comfortable and dignified living environment for individuals with Autism Spectrum Disorder, Intellectual […]
Sugarcane MSP Hiked by ₹20 per Quintal in Uttar Pradesh by Yogi Adityanath’s Government
The Yogi Adityanath government in Uttar Pradesh has announced a hike in the minimum support price (MSP) for sugarcane by ₹20 per quintal for all three categories of the crop for the 2023-24 season. The decision was taken at the state cabinet meeting on Thursday, January 18, in Lucknow. The new MSP will benefit around […]
Government Begins Selling NHPC Stake, Offers 3.5% through OFS at ₹66 Each Share
Background The government of India has initiated a stake sale plan for the state-owned power producer NHPC Ltd, which operates 24 hydroelectric power stations across the country. The government currently holds 70.95% stake in NHPC, and aims to divest a 3.5% stake through an Offer for Sale (OFS) at ₹66 per share. Details The OFS […]
HCL Group and Foxconn Join Forces to Establish Chip Packaging Unit in India
Introduction In a major boost to India’s semiconductor industry, HCL Group and Foxconn have announced a partnership to set up an outsourced assembly and testing unit (OSAT) for semiconductor chips in the country. The joint venture will leverage the engineering and manufacturing expertise of both the companies and create an ecosystem for the domestic chip […]
L&T Lands ‘Mega Order’ for Electrification of Mumbai-Ahmedabad Bullet Train Project
Introduction Larsen & Toubro (L&T), India’s leading engineering and construction company, has secured a ‘mega order’ to build the electrification system for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project, popularly known as the bullet train project. The order, awarded by an authorised Japanese agency, involves the construction of 508 km of high-speed electrification system works for […]