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News digest: Shell firms, retrenchment norms, FRDI Bill, and more

From investigation on shell firms to fine on discoms for outages, BS brings you top stories to speed up with the latest news

BS Web Team  |  New Delhi 

news digest

Most suspected get a clean chit Three months after suspending trade in 331 suspected shell companies, the capital market regulator, the Securities and Exchange Board of India (Sebi), has decided to take the investigation forward, but through forensic audit of only 10-12 firms. Read more Govt may hold plan to ease hire-and-fire The Union government is likely to put its proposal to ease retrenchment norms, by allowing factories with a large workforce to hire and fire without seeking its permission, on the back burner. Read more to tell listed entities to record minute financial details The Securities and Exchange Board of India (Sebi) is planning to ask listed entities to start using information utilities, set up under the insolvency law, to record minute financial details. Read more Govt tries to allay concerns Amid concerns over the safety of deposits in banks due to provisions in the Financial Resolution and Deposit Insurance (FRDI) Bill, the finance ministry on Thursday said the Bill was more depositor-friendly than the current mechanism. Read more 2019 agenda: Fine on firms for power outages The government plans to fine electricity distributors from April 2019 for power outages deemed avoidable and push for Direct Benefit Transfer (DBT) of electricity subsidy.

DBT would, said, make for a more competitive sector, besides helping to control a rise in supply rates. Read more

First Published: Fri, December 08 2017. 04:13 IST