Today's Sector News - 07.01.2020: 09.00 Am
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* AVIATION: Directorate General of Civil Aviation has registered two drone manufacturing companies, Civil Aviation Minister Hardeep Singh Puri said.
* BANKING: Reserve Bank of India has rationalised the supervisory action framework for primary (urban) co-operative banks to improve and expedite resolution of banks facing financial stress.
* CORPORATE: The National Company Law Appellate Tribunal has dismissed a plea by the Registrar of Companies seeking amendment of its December judgment in the Tata-Mistry case.
- A Delhi court has extended the judicial custody of the FORTIS HEALTHCARE's former promoter
Malvinder Mohan Singh and former managing director of RELIGARE ENTERPRISES Sunil Godhwani for two weeks in a money laundering case related to the alleged misappropriation of funds at Religare Finvest.
* FINANCE: IL&FS Financial Services has defaulted on 357.1-mln-rupee interest payment on term loans and short-term loans and external commercial borrowings.
* TAXATION: Around 23,000 large taxpayers have not yet availed the government's 'Sabka Vishwas-
Legacy Dispute Resolution Scheme, 2019' for indirect taxes even as the deadline to file for resolution is set to end on Jan 15.
* TELECOMMUNICATION: At a pre-Budget meeting chaired by Telecom Secretary Anshu Prakash, representatives from the telecom industry urged the Department of Telecommunications to create a line of credit to promote domestic sales.
- The government could surpass its budgetary target for revenues from the telecom sector for 2019-
20 by anything between 130 bln rupees and more than 500 bln rupees, depending on the fate of the review petition with the Supreme Court, which had imposed a 1.47 trln rupees bill on telcos in the form of licence fees and spectrum user charges.
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