NATIONAL
Chhattisgarh: Chhattisgarh on January 16 became one of the states to ratify the Constitution (126th) Amendment Bill that proposes to extend quota to Scheduled Caste and Scheduled Tribe in Lok Sabha and state assemblies by another 10 years. A special one-day session of the Chhattisgarh Legislative Assembly was held today to ratify the Constitution Amendment Bill, which was passed in the Lok Sabha and Rajya Sabha on December 10 and 12 respectively. The bill requires the consent of 50 percent state assemblies.
Sarda Mines: The Supreme Court on January 16 said it was “not averse” in allowing Jindal Steel and Power Ltd (JSPL) to transport high-quality iron ore, being kept unused at non-functional Sarda Mines, for its pellet plant in Odisha but all the necessary dues and royalty payable should be paid to the concerned authorities. The court also reserved its verdict in the case.
Assam: The Centre may give a small duration of just three months to those who want to apply for Indian citizenship in Assam under the newly-enacted Citizenship Amendment Act, officials said on January 16. Some special provisions are expected to be incorporated in the rules to be issued for the implementation of the CAA in Assam.
Jammu& Kashmir: A major attack ahead of Republic Day was turned away while police raided a unit of the Jaish-e-Mohammad (JeM) and arrested five members of the group involved in recent incidents of terror in the city, a senior officer said today. Huge storage of incriminating material and explosive substances, including gelatine sticks, explosives, detonators, arms, explosive body vests, batteries, and nitric acid, were recovered following searches based on their disclosures.
ECONOMY
IBBI: The Insolvency and Bankruptcy Board of India (IBBI) has notified changes to the voluntary liquidation process regulations. According to IBBI, a liquidator will have to deposit unclaimed dividends and undistributed proceeds in a separate account before seeking the dissolution of a corporate debtor under the voluntary liquidation process. The amendments also provide a process for a stakeholder to seek withdrawal from the Corporate Voluntary Liquidation Account.
AGR: The Supreme Court on January 16 rejected the review petitions moved by Bharti Airtel and Vodafone Idea against its October 2019 order on payment of dues linked to adjusted gross revenue (AGR). Now Telcos will have to together pay a total of Rs 1.47 trillion in AGR dues that include penalties and interest on penalties by January 23. The order will also be applicable for many companies which have either sold out or shut their business.
Exports: Exports decreased for the fifth straight month in December, as processed petroleum exports saw lower receipts and the broad-based decline continued to affect all major foreign exchange earning sectors, according to data released on January 15 by the commerce and industry ministry. The decline in exports stood at 1.8 percent in December, higher than the 0.3 percent fall in November. Till December, cumulative exports stood at $239 billion, 2 percent lower than the corresponding period in the previous financial year.
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