News Live: Trump to North Korean leader - my nuclear button 'is bigger & more powerful'
This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.
The regulator had proposed that listed companies disclose a default on working capital loan within 30 days from the date of missing a payment, and that default on a term loan should be made within one working day. With the Finance Ministry officials on Sebi board not in favour of the market regulator’s proposed disclosure rule for term loan default, no decision was taken on defaults on either of the loans.
If a company misses a monthly repayment instalment, it is technically a default even though the bank will still treat that loan as a standard asset. It is only when the company does not make payments for three months in a row that the bank will have to classify the loan as a non-performing loan. From a stock investor’s perspective, even a single miss on repayment is crucial information as it highlights the strain on the company’s financials. But banks and corporates argue that immediate disclosure of a loan instalment miss could aggravate what may be a temporary situation.
The Benami Transaction Act was first introduced in 1988, amendment to which was proposed in May 2015. The amendment bill was passed in 2016. Both movable and immovable properties come under the ambit of the Act.
The Central Board of Direct Tax (CBDT) may propose increasing the number of days, for which a benami property can be held by the Initiating Officer after sending a notice, from 90 days to 180 days. As per the Act, if an Initiating Officer believes that a person is a benamidar, he may issue a notice to that person, subject to permission from Approving Authority.
Jan 03, 07:00 AM (IST)
Trump to North Korean leader - my nuclear button 'is bigger & more powerful'
US President Donald Trump, responding to North Korean leader Kim Jong Un saying he had a nuclear button on his desk, said in a tweet on Tuesday that his nuclear button “is a much bigger and more powerful one than his, and my Button works!” In a televised speech on Monday, Kim said “the entire United States is within range of our nuclear weapons, and a nuclear button is always on my desk. This is reality, not a threat.” (Reuters, Picture courtesy: PTI)
Jan 03, 07:47 AM (IST)
Police personnel in action against RPI activists who went on rampage during their protest in Aurangabad on Tuesday over clashes that broke out at 200th anniversary celebrations of the Battle of Bhima in Koregaon near Pune. PTI
Jan 03, 07:45 AM (IST)
Charred vehicles following the violence during celebrations of 200th anniversary of the Battle of Bhima in Koregaon near Pune on Tuesday. PTI
Jan 03, 07:41 AM (IST)
RPI activists, amid teargas, pelting stones at the police during their violent protest in Aurangabad on Tuesday, over clashes that broke out at 200th anniversary celebrations of the Battle of Bhima in Koregaon near Pune. PTI
Jan 03, 07:39 AM (IST)
FinMin not in favour of immediate disclosure of term loan defaults to bourses
The Finance Ministry is not in favour of the Securities and Exchange Board of India’s (Sebi) proposal that listed companies should inform the stock exchanges as soon as they miss payment of monthly instalment on a term loan, sources told Moneycontrol News’ Tarun Sharma and Beena Parmar. The matter of disclosure of loan repayment defaults was discussed at the Sebi board meet last week.
The regulator had proposed that listed companies disclose a default on working capital loan within 30 days from the date of missing a payment, and that default on a term loan should be made within one working day. With the Finance Ministry officials on Sebi board not in favour of the market regulator’s proposed disclosure rule for term loan default, no decision was taken on defaults on either of the loans.
If a company misses a monthly repayment instalment, it is technically a default even though the bank will still treat that loan as a standard asset. It is only when the company does not make payments for three months in a row that the bank will have to classify the loan as a non-performing loan. From a stock investor’s perspective, even a single miss on repayment is crucial information as it highlights the strain on the company’s financials. But banks and corporates argue that immediate disclosure of a loan instalment miss could aggravate what may be a temporary situation.
Jan 03, 07:17 AM (IST)
Centre may tweak Benami Transactions Act during Budget session
The government may soon clear the air around the treatment of transactions in benami properties that took place before 1988. It is planning to tweak the Benami Transactions (Prohibition) Amendment Act, 2016, and will introduce the amendment in the Parliament during the Budget session, sources told Moneycontrol News’ Tarun Sharma.
The Benami Transaction Act was first introduced in 1988, amendment to which was proposed in May 2015. The amendment bill was passed in 2016. Both movable and immovable properties come under the ambit of the Act.
The Central Board of Direct Tax (CBDT) may propose increasing the number of days, for which a benami property can be held by the Initiating Officer after sending a notice, from 90 days to 180 days. As per the Act, if an Initiating Officer believes that a person is a benamidar, he may issue a notice to that person, subject to permission from Approving Authority.
highlights
Trump to North Korean leader - my nuclear button 'is bigger & more powerful'
US President Donald Trump, responding to North Korean leader Kim Jong Un saying he had a nuclear button on his desk, said in a tweet on Tuesday that his nuclear button “is a much bigger and more powerful one than his, and my Button works!” In a televised speech on Monday, Kim said “the entire United States is within range of our nuclear weapons, and a nuclear button is always on my desk. This is reality, not a threat.” (Reuters, Picture courtesy: PTI)
FinMin not in favour of immediate disclosure of term loan defaults to bourses
The Finance Ministry is not in favour of the Securities and Exchange Board of India’s (Sebi) proposal that listed companies should inform the stock exchanges as soon as they miss payment of monthly instalment on a term loan, sources told Moneycontrol News’ Tarun Sharma and Beena Parmar. The matter of disclosure of loan repayment defaults was discussed at the Sebi board meet last week.
The regulator had proposed that listed companies disclose a default on working capital loan within 30 days from the date of missing a payment, and that default on a term loan should be made within one working day. With the Finance Ministry officials on Sebi board not in favour of the market regulator’s proposed disclosure rule for term loan default, no decision was taken on defaults on either of the loans.
If a company misses a monthly repayment instalment, it is technically a default even though the bank will still treat that loan as a standard asset. It is only when the company does not make payments for three months in a row that the bank will have to classify the loan as a non-performing loan. From a stock investor’s perspective, even a single miss on repayment is crucial information as it highlights the strain on the company’s financials. But banks and corporates argue that immediate disclosure of a loan instalment miss could aggravate what may be a temporary situation.
Centre may tweak Benami Transactions Act during Budget session
The government may soon clear the air around the treatment of transactions in benami properties that took place before 1988. It is planning to tweak the Benami Transactions (Prohibition) Amendment Act, 2016, and will introduce the amendment in the Parliament during the Budget session, sources told Moneycontrol News’ Tarun Sharma.
The Benami Transaction Act was first introduced in 1988, amendment to which was proposed in May 2015. The amendment bill was passed in 2016. Both movable and immovable properties come under the ambit of the Act.
The Central Board of Direct Tax (CBDT) may propose increasing the number of days, for which a benami property can be held by the Initiating Officer after sending a notice, from 90 days to 180 days. As per the Act, if an Initiating Officer believes that a person is a benamidar, he may issue a notice to that person, subject to permission from Approving Authority.
Trump to North Korean leader - my nuclear button 'is bigger & more powerful'
US President Donald Trump, responding to North Korean leader Kim Jong Un saying he had a nuclear button on his desk, said in a tweet on Tuesday that his nuclear button “is a much bigger and more powerful one than his, and my Button works!” In a televised speech on Monday, Kim said “the entire United States is within range of our nuclear weapons, and a nuclear button is always on my desk. This is reality, not a threat.” (Reuters, Picture courtesy: PTI)
Police personnel in action against RPI activists who went on rampage during their protest in Aurangabad on Tuesday over clashes that broke out at 200th anniversary celebrations of the Battle of Bhima in Koregaon near Pune. PTI
Charred vehicles following the violence during celebrations of 200th anniversary of the Battle of Bhima in Koregaon near Pune on Tuesday. PTI
RPI activists, amid teargas, pelting stones at the police during their violent protest in Aurangabad on Tuesday, over clashes that broke out at 200th anniversary celebrations of the Battle of Bhima in Koregaon near Pune. PTI
FinMin not in favour of immediate disclosure of term loan defaults to bourses
The Finance Ministry is not in favour of the Securities and Exchange Board of India’s (Sebi) proposal that listed companies should inform the stock exchanges as soon as they miss payment of monthly instalment on a term loan, sources told Moneycontrol News’ Tarun Sharma and Beena Parmar. The matter of disclosure of loan repayment defaults was discussed at the Sebi board meet last week.
The regulator had proposed that listed companies disclose a default on working capital loan within 30 days from the date of missing a payment, and that default on a term loan should be made within one working day. With the Finance Ministry officials on Sebi board not in favour of the market regulator’s proposed disclosure rule for term loan default, no decision was taken on defaults on either of the loans.
If a company misses a monthly repayment instalment, it is technically a default even though the bank will still treat that loan as a standard asset. It is only when the company does not make payments for three months in a row that the bank will have to classify the loan as a non-performing loan. From a stock investor’s perspective, even a single miss on repayment is crucial information as it highlights the strain on the company’s financials. But banks and corporates argue that immediate disclosure of a loan instalment miss could aggravate what may be a temporary situation.
Centre may tweak Benami Transactions Act during Budget session
The government may soon clear the air around the treatment of transactions in benami properties that took place before 1988. It is planning to tweak the Benami Transactions (Prohibition) Amendment Act, 2016, and will introduce the amendment in the Parliament during the Budget session, sources told Moneycontrol News’ Tarun Sharma.
The Benami Transaction Act was first introduced in 1988, amendment to which was proposed in May 2015. The amendment bill was passed in 2016. Both movable and immovable properties come under the ambit of the Act.
The Central Board of Direct Tax (CBDT) may propose increasing the number of days, for which a benami property can be held by the Initiating Officer after sending a notice, from 90 days to 180 days. As per the Act, if an Initiating Officer believes that a person is a benamidar, he may issue a notice to that person, subject to permission from Approving Authority.