Samsung opens world's largest mobile factory in India
Samsung has opened the world's largest mobile factory in Noida, India. The factory will be officially inaugurated by Prime Minister Narendra Modi and visiting South Korean President Moon Jae-in on July 9, 2018.
The Electronics facility will be inaugurated on a factory plot measuring 35-acre at Sector 81 in Noida, Uttar Pradesh. The factory inauguration marks the first-ever state visit of South Korean President Moon Jae-in. The South Korean President will be accompanied by first lady Kim Jung-sook, senior cabinet members, officials as well as industry captains.
Himachal Pradesh Government bans use of thermocol cutlery
The Himachal Pradesh government on July 7, 2018 issued a fresh notification banning the use of thermocol cutlery across the state. The ban was announced by the state’s Chief Minister Jai Ram Thakur on the occasion of the World Environment Day on June 5.
The government has issued fresh notification reiterating that no person including shopkeepers, vendors, wholesalers, retailers, hawkers, rehriwalas will use thermocol cutlery in any form manufactured from non-biodegradable material as listed in Schedule under Himachal Pradesh Non-Biodegradable Garbage (Control) Act, 1995.
NCLT upholds Tata Sons' 2016 move sacking Cyrus Mistry as Chairman
The National Company Law Tribunal (NCLT) on July 9, 2018 upheld the October 24, 2016 decision of the Tata Sons’ Board of Directors of sacking its then Chairman Cyrus Mistry. The ruling was given by a Special NCLT Bench comprising B S V Prakash Kumar and V Nallasenapathy.
The NCLT ruled that the Tata Sons Board of Directors was competent to remove the Mistry as the board members had lost confidence in him. The NCLT also pointed out that Mistry had openly gone against the Board, and hence against the company. Mistry had quit from the board of other six Tata Group companies, after he was abruptly ousted as the Tata Sons Chairman.
GST Panel recommends no extra tax incentives for digital transactions
A ministerial panel formed by the Goods and Services Tax Council on July 8, 2018 recommended that there shall be no additional tax incentives for digital transactions for a year, citing revenue considerations.
The panel headed by Bihar Deputy Chief Minister and Finance Minister Sushil Kumar Modi said that it may think about the proposal of incentivising digital transaction again after a year, once returns and GST revenues stabilise. The panel claimed that it is not an appropriate moment to incentivise digital payments as it will have revenue implications.
Uttar Pradesh grants Revenue Status to 3 forest villages under FRA, 2006
The Uttar Pradesh Government in the first week of July 2018 granted Status of Revenue Village to three villages inhabited by the Tongia Scheduled Tribe in and around forests in Saharanpur district under the Forest Rights Act, 2006 (FRA). These villages are - Kaluwala, Sodhinagar and Bhagwatpur.
The granting of Revenue Status to villages means that these villages will now come under the revenue department instead of forest department. The Forest Rights Act, 2006 has a provision for turning forest villages into revenue villages so that civic facilities reach these areas.
Parliament passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018
Assam-NRC Draft can’t be basis of any action by any authority: SC
Government to soon introduce bill proposing death penalty for mob lynching
Ministry of Shipping issues new guidelines for improving treasury investment for Major Ports