QBiz: Key Jet Airways Meet Today, Traders’ GST Woes Continue

1. Lenders Not Likely to Let Naresh Goyal Board Jet Airways

Lenders to Jet Airways (India) Ltd are unlikely to consider an initial bid from Naresh Goyal, the airline’s ousted founder, to regain control of the debt-laden carrier, two people directly familiar with the bidding process said.

Goyal was allowed to submit an expression of interest (EoI) on the condition that he bid as part of a consortium with other investors where he would hold a minority stake, the people cited above said, requesting anonymity.

(Source: Livemint)

Also Read: Jet Airways’ Pilots Body Defers No-Flying Call, Key Meet Tomorrow

2. CBDT Sets 30 June Deadline to Dispose of Demonetisation Cases

Tax authorities have set a deadline of 30 June to clear up all demonetisation-related cases.

In its interim action plan for the first quarter of 2019-20, the Central Board of Direct Tax (CBDT) has instructed its officials to “dispose of all cases related to demonetisation where assessment is required to be framed”.

(Source: Business Line)

3. IBA Suggests Case-By-Case Method for Stressed Loans

Banks have sought freedom to restructure loan accounts on a case-to-case basis without going through a uniform restructuring framework, two people aware of the matter said.

This is part of suggestions presented to the Reserve Bank of India (RBI) after the Supreme Court quashed the central bank’s 12 February, 2018, circular prescribing a one-day default rule and mandatory insolvency filing for large loan accounts.

(Source: Livemint)

Also Read: GST on Sunday Church Offerings in UP? Fake TOI Clipping Goes Viral

4. Centre Must Match Subscriber Share in Atal Pension: PFRDA

Pension Fund Regulatory and Development Authority (PFRDA) has suggested that the government must make a matching contribution to the subscribers’ share for the Atal Pension Yojana (APY), which is meant for the unorganized sector.

A similar scheme, the Prime Minister Shram Yogi Maandhan (PM-SYM), was also launched last month for informal sector workers.

(Source: Livemint)

5. Honda Motorcycle and Scooter India Cuts Q1 Production, Its Sharpest Ever

Honda Motorcycle and Scooter India Pvt. Ltd (HMSI)has implemented a 15-20 percent cut in June quarter two-wheeler production – the sharpest reduction since it started operations about 18 years ago – because of weak demand for scooters and a squeeze on automobile financing.

At least four suppliers to HMSI, India’s largest scooter maker, confirmed the decision of the two-wheeler unit of Japan’s Honda Motor Co.

(Source: Livemint)

6. H-1B Denials Behind Attrition, Says Infy

Infosys blamed part of the growing employee attrition at the company on its inability get enough H-1B visas and said it had to come up with a “new value proposition” to help retain employees.

Indian IT firms have long sought to hold on to employees by offering the prospect of a US posting. But the US has tightened visa rules to give preference to applicants with master’s degrees, most of whom prefer American tech companies. Besides, Indian IT companies face numerous administrative hurdles in both applying for new visas and extending existing ones.

(Source: Economic Times)

7. BJP Aims to Benefit All Farmers Under Scheme

Bharatiya Janata Party’s (BJP) promise in its manifesto to extend the PM Kisan Nidhi Samman Yojana to all farmers stems from the idea of not leaving any farmer disappointed on not receiving ₹6,000 annually.

The promise is also intended at lessening the hordes of paper-work required now on part of the states to identify the eligible beneficiaries.

(Source: Economic Times)

Also Read: Congress Launches Poll Campaign With Song & Slogan ‘Ab Hoga NYAY’

8. Traders Claim GST ‘Cumbersome’ to Biz

Last week, after a hectic day of campaigning, former Maharashtra chief minister Prithviraj Chavan arrived at a Congress leader’s home late evening in Pune.

Gathered at the spot were nearly 50 people comprising developers, businessmen and traders. Each of the men narrated the woes from their businesses, with the common refrain being the ‘cumbersome’ goods and services tax (GST) and how they were spending more time, money and effort handling GST issues that have been affecting their businesses. Chavan heard them out and promised how the Congress government, if it comes to power, would come with an better ‘GST 2.0’ that would be much simpler for everyone.

At the end of the meeting, a local Congress leader who organised the meet promised Chavan that the businessmen would help the Congress.

(Source: Economic Times)

9. TCS, Infosys Beat the Street, Margin Stress Can Keep Valuations in Check

IT behemoths Tata Consultancy Services Ltd (TCS) and Infosys Ltd reported strong growth for the March quarter, clocking 2.4 percent and 2.1 percent sequential rises, respectively, in constant-currency revenue. The Street, at best, expected the companies to report a 2 percent growth.

(Source: Livemint)

. Read more on Business by The Quint.RSS & BJP’s Nehru-Netaji ‘Cosplay’: Irony Dies a Thousand DeathsReunions and Revelations: Netizens React to Game of Thrones S8 E1 . Read more on Business by The Quint.