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The Hindu Business Line-November 02, 2020 E-invoicing generation at 495 lakh in first month of implementation, says NIC  The Centre on Monday said October saw an all-time high in eWay bill generation, at 641 lakh. Also, e-invoice generation reached 495 lakh in the first month of implementation.  eWay bill, like a challan, shows goods were moved from one place to another after the requisite tax payment. It is mandatory for the movement of goods worth ₹50,000 or more, and its numbers are seen as a high-frequency economic indicator.  E-invoicing is the electronic reporting of details of specified GST documents on a government-notified portal and obtaining a reference number. It doesn’t mean generation of invoice by a government portal.  The 641 lakh eWay bills generated last month were the highest in a month over the ‘two-and-a-half-year journey of the eWay bill system’, said the National Informatics Centre (NIC) in a statement. Over 495 lakh e-invoices were generated o...

Business Line-November 02, 2020 The consortium had placed a bid of nearly ₹1,000 crore  Ahead of the deadline on November 3, Kalrock Capital and Murari Lal Jalan’s consortium have deposited the performance security of approximately ₹150 crore. “The selected bidder has submitted the performance security of ₹150 crore to the Resolution Professional,” sources close to the development told BusinessLine.  Under the norms of the Insolvency and Bankruptcy Code, a bidder has to deposit this amount to bind the party in a bond. This is to ensure that the bidder doesn't withdraw its plan later. Along with this, if the winning bidder is unable to execute the proposed plan, the amount is forfeited.  The Kalrock and Jalan consortium had placed a bid of nearly ₹1,000 crore. The lenders will also get 9.5 per cent of equity in Jet Airways along with 7.5 per cent equity in loyalty rewards company InterMiles ( formerly Jet Privilege). The consortium had outbid pilot-turned entrepreneur, San...

Younis Dar-The EurAsian Times-November 2, 2020 India had last flown the first batch of five Rafales through UAE, landing them at the gulf nation’s Al Dhafra airbase. Incidentally, the Al Dhafra airbase falls near the Strait of Hormuz where Iran’s Revolutionary Guard staged a mock attack on a fake aircraft carrier launching three missiles, while India’s Rafale’s were present there. The Al Dhafra airbase was put on high alert after intelligence reports showed a possible missile headed towards the airbase. “CNN has learned US bases at Al Udeid and Al Dhafra went on alert this am when intel indicators showed an Iranian missile possibly headed that way. Personnel told to take cover for several minutes. No missile struck, US officials say they took prudent precautionary measures,” CNN’s Pentagon Barbara Starr had tweeted. Apparently, to prevent a similar situation from repeating, India has decided to directly fly the new batch of the three Rafales directly to the country accompanied by the F...

Harsha Kumari Singh-NDTV-November 02, 2020 Jaipur: Rajasthan Chief Minister Ashok Gehlot has said the state will today enact a law, making wearing masks compulsory. It will be the first state in the country bring in such a law to fight COVID-19 since "mask is the vaccine", he said. "Along with the 'public movement against coronavirus' going on in the state, the government will make wearing masks compulsory by enacting a law today itself," Mr Gehlot said in a tweet composed in Hindi. The state government today also decided to ban the sale and bursting of fire crackers keeping the safety of COVID-19 infected patients in mind and also to protect the general public from toxic fumes from the fireworks. On Sunday, the government said that it has issued orders for authorities to take strict action against smoke-belching vehicles that lack fitness certificates. The Chief Minister, while highlighting the second wave of pandemic forcing many countries into another rou...

Rediff.com-November 02, 2020 Due to an increase in the price of vegetables, customers are being affected adversely and the inflation has also reduced the sales of vendors. "Onion is selling for Rs 50-60. When the onion was cheaper, I used to sell 50 sacks in a day, now selling 9," Mohammad Rashid, a vegetable vendor from Okhla mandi, told ANI. "There are fewer customers in the mandi nowadays due to the hike in prices. Our routine sales have been adversely affected," Ash Mohammad, another vendor, told ANI. Heavy rainfall in south India has hit the supply chain of the vegetable, according to many sellers. "Due to heavy rains in September, the crop reached the mandi quite late and the quality of the vegetable wasn't good either. The supply chain was disrupted, a limited quantity arrived and thus resulted in a price surge," said Saleem, another vegetable vendor. The skyrocketing price of onions has caused worry to the consumers. "The prices of vegetab...

The Times of India, November 02, 2020 NEW DELHI/BENGALURU: Future Retail said Amazon has sought damages of Rs 1,431 crore plus interest in a regulatory filing on Sunday. This is the amount the e-tailer has invested in Future Coupons.  Future Retail’s exchange notification, which comes close on the heels of Amazon informing the exchanges and Sebi that Future Retail has been misleading shareholders, also urged the BSE and the NSE to ignore the e-tailer’s letter regarding the Singapore-based Emergency Arbitrator’s (EA) interim award, which has directed the Kishore Biyani-led Future Group to put on hold its Rs 24,713-crore deal with Mukesh Ambani’s Reliance Industries. Amazon tells India regulator its partner Future Retail is misleading public Future Retail’s letter, which is being seen by legal experts as an effort to distance itself from the agreement between Biyani and Amazon, called Amazon’s contention to the EA as “entirely misconceived”. While maintaining that the interim award i...

Dailyhunt-November 02, 2020 The U.S. Food and Drug Administration approved the antiviral drug Veklury (remdesivir) for use in adult and pediatric patients 12 years of age and older and weighing at least 40 kilograms (about 88 pounds) for the treatment of COVID-19 requiring hospitalization. Veklury should only be administered in a hospital or in a healthcare setting capable of providing acute care comparable to inpatient hospital care. Veklury is the first treatment for COVID-19 to receive FDA approval.  This approval does not include the entire population that had been authorized to use Veklury under an Emergency Use Authorization (EUA) originally issued on May 1, 2020. In order to ensure continued access to the pediatric population previously covered under the EUA, the FDA revised the EUA for Veklury to authorize the drug’s use for treatment of suspected or laboratory confirmed COVID-19 in hospitalized pediatric patients weighing 3.5 kg to less than 40 kg or hospitalize...

The Telegraph online-November 05, 2020 Companies such as Vedanta, Jindal Steel and Power, Adani Enterprises, Hindalco Industries and JSW Steel are in the race for the the first-ever auction of 19 coal blocks for commercial mining, which will start from Monday. The auction, under which 19 coal blocks will go under the hammer, will be held for eight days, from November 2-9. On Monday, the electronic auction would be held for five coal blocks — Chakla, Jharkhand; Marki Mangli-II, Maharashtra; Radhikapur (west), Odisha; Takli-Jena-Bellora (North) and  TakliJena-Bellora (South), Maharashtra; and Urtan, Madhya Pradesh. Companies such as Hindalco Industries and Adani Enterprises will be vying for the Chakla coal block in Jharkhand. Jindal Steel and Power Ltd (JSPL) and Vedanta Ltd will be keen on the Radhikapur (west) asset in Odisha. Link:  https://www.telegraphindia.com/business/coal-block-auction-to-take-off-today/cid/1796267

 The Telegraph Online, PTI, November 02, 2020 Companies such as Vedanta, Jindal Steel and Power, Adani Enterprises, Hindalco Industries and JSW Steel are in the race for the the first-ever auction of 19 coal blocks for commercial mining, which will start from Monday. The auction, under which 19 coal blocks will go under the hammer, will be held for eight days, from November 2-9. On Monday, the electronic auction would be held for five coal blocks — Chakla, Jharkhand; Marki Mangli-II, Maharashtra; Radhikapur (west), Odisha; Takli-Jena-Bellora (North) and  TakliJena-Bellora (South), Maharashtra; and Urtan, Madhya Pradesh. Companies such as Hindalco Industries and Adani Enterprises will be vying for the Chakla coal block in Jharkhand. Jindal Steel and Power Ltd (JSPL) and Vedanta Ltd will be keen on the Radhikapur (west) asset in Odisha. Yazdani International Pvt Ltd, Andhra Pradesh Mineral Development Corporation Ltd and Refex Industries Ltd will be competing against each other ...

 The Economic Times, October November 01, 2020 NEW DELHI: The admission of Pakistan Federal cabinet minister Fawad Chaudhry on Islamabad’s role in Pulwama terror strike should be taken into consideration by UN and other international bodies for initiating tough action against Pakistan for use of terror as an instrument of state policy. Despite damage control by the Pakistan Foreign office, the Minister’s remarks were a public admission of the use of terror as an instrument of state policy. Experts are of opinion that the  community must take cognizance of this fact and hold Islamabad responsible. “The admission of Federal cabinet minister Fawad Chaudhry in the National Assembly that Pulwama was an achievement of the Imran Khan government is the smoking gun proof of Pakistan's direct involvement in terrorism in India. While India has talked about this repeatedly, now a Pakistani minister has confirmed it. Pakistan is thus responsible for the death of 40 brave Indian soldiers. T...

 The Economic Times, November 01, 2020 NEW DELHI: Future Retail NSE -0.36 % on Sunday said the emergency order passed by the Singapore International Arbitration Centre (SIAC) putting its Rs 24,713-crore deal with Mukesh Ambani-led RIL NSE 3.39 % on hold is not "enforceable and binding", and any move to enforce it would be "resisted" by the company. The interim award passed by the Emergency Arbitrator (EA) of SIAC last week over the plea of Amazon.com NV Investment Holdings LLC are "void and coram non-judice", said Future Retail Ltd  (FRL) in a regulatory update. According to FRL, the EA order was passed in arbitration proceedings initiated by Amazon by invoking an arbitration clause in a contract to which FRL is not a party, it added. "FRL is advised that an Emergency Arbitrator has no legal status under Part I of the Indian Arbitration and Conciliation Act, 1996 and therefore, the proceedings before an Emergency Arbitrator are void and coram non-judi...

 Scroll.in October 31, 2020 Kerala was adjudged the best-governed state in the country while Uttar Pradesh was at the last spot in the large states category, according to findings of the  Public Affairs Index-2020  report released on Friday by a Bengaluru-based not-for-profit organisation Public Affairs Centre. The report which evaluated governance in states and Union Territories on three criteria of sustainable development – equity, growth and sustainability – put Tamil Nadu and Andhra Pradesh on the second and third spot among large states. Bihar and Odisha were the two other states to have finished among the last three. Goa was adjudged the best-governed state in the small states category, and Chandigarh among the Union Territories.  Kerala, which had topped the rankings last year too, improved its Public Affairs Index score from 1.011 last year to 1.389 this year, according to the report. Nine of the 18 large states were given negative scores, with Uttar Pradesh ...

 The Indian Express, Manoj C.G., October 30, 2020 Tech giant  Google  on Thursday told the joint parliamentary committee on Personal Data Protection Bill that India should avoid data localisation requirements, a submission which riled some panel members, it is learnt. Digital financial services platform  Paytm  too appeared before the Meenakshi Lekhi-headed panel Thursday. It is learnt that Paytm representatives were asked about the quantum of Chinese investment in the company and told that the servers on which customer data is stored should be in India. It is learnt that Paytm vice-presidents Narendra Singh Yadav and Dharmender Jhamb told the panel that the company was of the view that the data generated in India should be parked in the country. They were candid about the 35 per cent Chinese investment, it is learnt. Both Google and Patym were asked about the recent  Google Play Store controversy , it is learnt. Google had last month removed Paytm from its...

 Financial Express, October 31, 2020 Axis Bank  in a recent BSE filing informed that the Reserve Bank of India ( RBI ) has refused it to directly acquire 17% stake in Max Life Insurance. The private lender will now purchase shares in Max Life along with its subsidiaries. Axis Bank and its subsidiaries, i.e. Axis Capital Limited and Axis Securities Limited have agreed to enter into revised agreements with Max Financial for the acquisition of up to 19.002% of the equity share capital of Max Life.  “In response to Axis Bank’s application to the Reserve Bank of India or directly acquiring 17.002 per cent of the equity share capital of Max Life, the Reserve Bank of India has advised Axis Bank that the application for direct acquisition of 17.002 per cent has not been considered,” it said in a regulatory filing. Earlier in August, Axis Bank had announced the direct acquisition of 17.002 per cent of equity share capital of Max Life Insurance Company Ltd, after it entered into a ...

 Telecom.com, IANS, October 31, 2020 After severe criticism over  National Informatics Centre 's (NIC) reply to an  RTI  query on  Aarogya Setu 's creation, the ministry has directed action against the responsible officials for the "lapses" in providing  information , sources said. The development comes after the Central Information Commission issued show-cause notices to the CPIOs, Ministry of Electronics and IT, NIC and  National E-Governance Division  (NeGD), seeking to know as to why penalty under Section 20 of the RTI Act should not be imposed on them for prima facie obstruction of information and providing an evasive reply on an RTI application related to the Aarogya Setu App. In a reply to an query under the Right to Information Act, the NIC replied that it "does not hold the information" relating to the App's creation Sources in the ministry said that it has taken the lapses made in providing information on Aarogya Setu app very strictly. ...

 Telecom, October 30, 2020 NEW DELHI: The global smartphone market grew 32% quarter-on-quarter to reach 366 million units but declined 4% year-on-year, Counterpoint said in its latest report. “Eased lockdown conditions in all key markets made way for exports and imports, thus streamlining the supply chain again. Also, the pent-up demand due to lockdowns helped the smartphone market take a recovery trajectory,” said Associate Director  Tarun Pathak . Supply issues are also getting resolved due to the normal operations of manufacturing units in China and Vietnam, while in India the units are operating 80% of the pre-Covid levels, noted Pathak. “In markets like the US and Europe, a modest ‘back to school’ bump in the quarter helped the market to recover.” Chinese smartphone maker  Realme  was the fastest growing smartphone brand. It grew 132% quarter-on-quarter to ship 14.8 million units in Q3 2020 and consequently witnessed its market share reach 4% in Q3. Realme also ...