India Business News: The tax refund scheme for exporters that has ignored strategic sectors like pharmaceuticals, chemicals and iron & steel has raised concerns, with
Synopsis
Earlier this month, the government had introduced a pre-packaged insolvency resolution process for stressed MSMEs by amending the insolvency law.
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MUMBAI: State-owned
Bank of Maharashtra is looking at resolving 20-25 stressed micro, small and medium enterprise (MSME) accounts under the pre-packaged insolvency resolution process, a senior bank official said.
Earlier this month, the government had introduced a pre-packaged insolvency resolution process for stressed MSMEs by amending the insolvency law.
Under a pre-packaged process, main stakeholders such as creditors and shareholders come together to identify a prospective buyer and negotiate a resolution plan before approaching the National Company Law Tribunal (NCLT).
BHEL to procure 300 products worth ₹3,000 cr from MSMEs
April 16, 2021
Anil Joshi, ED, BHEL - The Hindu×
Lot of market potential for local manufacturing seen, says official
State-run Bharat Heavy Electricals has identified 300 products, worth about ₹3,000 crore, for exclusive procurement from micro, small and medium enterprises (MSMEs) annually.
Anil Joshi, Executive Director, BHEL, said going by the government’s thrust areas, the company sees lot of market potential for local manufacturing in the field such as e-mobility, railway electrification, renewables and energy conservation.
To achieve this, he said there is need for inverters, transformers, power conditioning units, solar modules, LEDs, batteries, battery chargers, IP-based public address system, FRP cable trays.
Having barely recovered from the one-year pandemic lockdown, the fresh 15-day lockdown-style restrictions in Maharashtra could lead to massive economic and business losses, the Mumbai-headquartered All India Association of Industries (AIAI) .
Kamal Morarka (18 June 1946 - 15 January 2021) Qurban Ali 28 Jan 2021
A distinguished citizen and industrialist, good samaritan, committed to the cause of Socialism and President of the Samajwadi Janata Party (Rashtriya), Kamal Morarka passed away on 15th January 2021. He was 74. Kamal Morarka was born in a traditional Marwari family on 18th June 1946 in Nawalgarh, Rajasthan. His father, Mahavir Prasad Morarka and uncle Radhyeshyam Morarka were industrialists, but also socialist. His uncle, a role model for him, was a parliamentarian and a socialist who represented many terms in Lok Sabha and Rajya Sabha.
Kamal was born in a family of industrialists and was educated in elite institutions, Cathedral School and St Xavier’s College, in what was then Bombay. Kamal Morarka was interested in politics from his student days and was closely associated with former Prime Minister Chandra Shekhar since his Janata Party days in 1977. Social-democratic politic