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The Insolvency and Bankruptcy Board of India (IBBI) has issued a new directive requiring Insolvency Professionals (IPs) to enhance the Information Memorandum (IM) by including a dedicated section on the carry forward of losses under the Income Tax Act, 1961. This move aims to improve financial clarity for potential bidders in the insolvency resolution process, allowing them to better assess the corporate debtor's financial position. The IM must detail the quantum of carry forward losses, their classification, applicable time limits for utilization, and explicitly state if no losses are available. Experts, including Hari Hara Mishra and Anjali Jain, have welcomed the initiative, noting that it will facilitate informed decision-making and enhance the attractiveness of resolution plans. The IBBI's directive is seen as a significant step towards greater transparency in the Corporate Insolvency Resolution Process, ultimately promoting more effective and viable resolutions. 
Published: Mar 18 2025, 8 pmeznews.inDeendayal Port in Kandla, Gujarat, resumed operations on Friday morning after a five-hour shutdown due to heightened security concerns, as confirmed by officials from the Deendayal Port Authority (DPA). The port, strategically located near the Pakistan border and handling both liquid and bulk cargo, ceased operations at 1:30 am, coinciding with a temporary blackout. Currently operating under Level 2 security, officials warned that any further shutdowns could significantly delay vessel turnaround times. Nearby Mundra Port continued its operations without interruption, with a spokesperson affirming compliance with government directives. Gujarat's port infrastructure, including at least seven Single Point Moorings (SPMs) for crude oil handling, maintains a cumulative capacity of 104 million metric tonnes per year. The Gujarat Maritime Board has confirmed that all ports are functioning with heightened security measures in place.
Published: May 09 2025, 10 ameznews.inCivilian flight operations have been suspended at 24 airports across India, including Kishangarh, Bhuntar, and Ludhiana, following heightened tensions with Pakistan. This decision comes after the Indian armed forces launched missile strikes on terrorist targets in Pakistan on May 7, 2025, leading to the cancellation of over 400 flights as a precautionary measure. Airports affected include Leh, Jammu, Srinagar, and Chandigarh, with a revised Notice to Airmen (NOTAM) issued to cover the impacted Flight Information Regions. While Delhi's IGI Airport reported normal operations, some flights were still affected due to changing airspace conditions. The escalation in hostilities saw Pakistan launching missile and drone attacks on multiple sites in India, prompting a robust response from Indian air defense systems, which neutralized several incursions and downed two Pakistani jets. The situation remains tense along the international border and the Line of Control in Jammu and Kashmir.
Published: May 09 2025, 1 ameznews.inIn response to escalating tensions between India and Pakistan, the central government has implemented heightened security measures at airports and heliports nationwide, effective from May 8 to May 18, 2025. The Bureau of Civil Aviation Security (BCAS) has mandated enhanced surveillance, full operational status of CCTV systems, and the deployment of in-flight security officers. Airports are required to conduct thorough checks of passenger and cargo manifests, perform comprehensive searches of aircraft, and implement strict monitoring of drones and microlight aircraft. Additionally, BCAS has prohibited visitor access to terminal buildings, allowing only government officials with operational needs. Air India has advised passengers to arrive at least three hours before their flights, while IndiGo has recommended allowing extra time for security procedures. These measures aim to bolster safety amid rising security concerns.
Published: May 09 2025, 2 ameznews.inIndia has raised the security level at all its ports, terminals, and ships from MARSEC Level 1 to Level 2 amid escalating tensions with Pakistan and increasing attacks from the neighboring country. This advisory, issued on May 8, 2025, mandates enhanced protective measures to address the heightened risk of security incidents, requiring compliance with the International Ship and Port Facility Security (ISPS) Code. Key actions include increased surveillance, stricter access controls, and unannounced security drills to assess preparedness. Additionally, port facilities must review their IT and communication systems to mitigate the risk of cyberattacks, a growing concern for the maritime sector. The directive emphasizes the urgency of compliance, warning that breaches will be taken seriously. It has been circulated to various stakeholders, including Port Facility Security Officers and the Indian National Shipowners’ Association, for immediate implementation.
Published: May 09 2025, 8 ameznews.inThe India-UK Free Trade Agreement (FTA), announced on May 7, is set to take at least fifteen months for implementation, including three months for legal vetting and an additional year for ratification by the British Parliament. While the broad terms have been shared, further details will emerge following discussions to ensure alignment between both nations. Key concessions include a reduction in tariffs on UK whisky and gin from 150% to 75%, eventually reaching 40% in ten years, alongside limited opportunities for UK automobiles over 10-15 years. India has retained its right to retaliate against the UK's upcoming Carbon Border Adjustment Mechanism, which is scheduled for January 2027. The FTA aims to eliminate tariffs on 99% of trade lines, potentially doubling bilateral trade to $120 billion by 2030, with significant gains anticipated in textiles, gems, and footwear sectors.
Published: May 08 2025, 10 pmeznews.inIndiGo has signed a new agreement with Norse Atlantic Airways to enhance its wide-body fleet, facilitating the expansion of its international long-distance network. The airline will damp lease two additional Boeing 787-9 aircraft, adding to the four it previously leased, of which one has already been deployed on the Delhi–Bangkok route. The remaining three are expected to arrive by late 2025, with the fifth and sixth aircraft anticipated to commence operations by early 2026. IndiGo's Chief Executive, Pieter Elbers, emphasized the airline's commitment to international growth and its goal of becoming a global airline by 2030. Despite challenges posed by Pakistan's airspace closure, IndiGo plans to proceed with its European expansion, with new flights to Amsterdam and Manchester set to launch soon. The airline is exploring alternative flight routes, including potential operations over the Arabian Sea, to navigate the airspace restrictions.
Published: May 08 2025, 10 pmeznews.inThe Indian government has set a foodgrain production target of 168.88 million tonnes for the kharif 2025 season, marking a 1.5% increase from the previous year. Agriculture Minister Shivraj Singh Chouhan announced the "Vikshit Krishi Sankalp Abhiyan," a campaign starting May 29, aimed at engaging 2 crore farmers to enhance their connection with agricultural research. The Fertilizer Ministry has assured sufficient fertilizer availability, while Chouhan urged the demonstration of nano-fertilizers to reduce reliance on conventional options. The rice production target is set at 120.75 million tonnes, with pulses expected to reach 7.74 million tonnes. Additionally, the government plans to implement a 60-day procurement period for oilseeds and pulses, with biometric verification. Chouhan also proposed amendments to the Seeds Act to combat spurious seed sales. The campaign will involve 2,000 teams of scientists and local officials to educate farmers on climate-resilient practices and government programs.
Published: May 08 2025, 8 pmeznews.inIndia's Foreign Secretary Vikram Misri announced that the country's executive director at the International Monetary Fund (IMF) will present India's stance on Pakistan's loan reviews during a board meeting on Friday. Misri emphasized that the need for scrutiny regarding financial aid to Pakistan is evident, particularly as the IMF considers a new $1.3 billion climate resilience loan and the first review of a $7 billion bailout package. He raised concerns that such financial support indirectly facilitates Pakistan's military and intelligence operations, including backing terrorist groups like Lashkar-e-Taiba and Jaish-e-Mohammed. Misri highlighted Pakistan's longstanding reputation as a hub for global terrorism, referencing the presence of high-profile terrorists within its borders, and underscored the importance of accountability for nations providing financial assistance to Pakistan.
Published: May 08 2025, 8 pmeznews.inUnion Agriculture and Farmers Welfare Minister Shivraj Singh Chouhan announced on Thursday that the Indian government plans to develop "short, mid and long term" strategies to repurpose water previously allocated to Pakistan under the Indus Water Treaty for irrigation in Indian border states. Speaking at the annual kharif campaign meeting, Chouhan criticized the 1960 treaty as a "historical mistake," asserting that it allowed Pakistan to utilize 80% of the water from Indian rivers like the Indus, Chenab, and Jhelum. Following a recent terror attack in Jammu and Kashmir, the government has suspended the treaty, which Chouhan claims will benefit farmers in Punjab, Haryana, Rajasthan, Himachal Pradesh, and the Union Territories of Jammu & Kashmir and Ladakh. He emphasized ongoing efforts to halt water flow to Pakistan while commending the Indian army for its role in combating terrorism through "Operation Sindoor."
Published: May 08 2025, 8 pmeznews.inAir India has adapted its operations on US and Canada routes due to the closure of Pakistan's airspace, which has necessitated flight reroutes and increased fuel consumption, leading to longer travel times for passengers. However, this situation has also allowed the airline to capitalize on cargo opportunities, as one-stop flights via Europe enable the transport of significantly more freight. Currently, Air India operates a fleet of Airbus A350 and Boeing 777 aircraft from Mumbai, Delhi, and Bengaluru, with some flights from Delhi making refueling stops in Vienna or Copenhagen. This adjustment has resulted in the ability to carry an additional 15-18 tonnes of cargo compared to non-stop flights. Recently, Air India has successfully exported 20 tonnes of mangoes to the US, with expectations to exceed 1,200 tonnes this season, highlighting the potential for increased cargo business amid operational changes.
Published: May 08 2025, 7 pm
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