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The Ministry of Corporate Affairs (MCA) is set to amend the Insolvency and Bankruptcy Code (IBC) to clarify that prior approval from the Competition Commission of India (CCI) is not necessary for submitting bids during the corporate insolvency resolution process. This move follows a Supreme Court ruling in January that invalidated AGI Greenpac's winning bid for Hindustan National Glass due to the absence of CCI approval before the Committee of Creditors (CoC) approved the resolution plan. The proposed amendment targets Section 31(4) of the IBC, which currently requires CCI approval for resolution plans involving a "combination." The Supreme Court emphasized the mandatory nature of this requirement, urging legislative action to address any inconsistencies rather than relying on judicial intervention. The MCA's amendments aim to enhance the insolvency framework and expedite the resolution of stressed assets, with a focus on maintaining the integrity of regulatory processes. 
Published: May 20 2025, 7 pmeznews.inThe Indian government has announced the establishment of three new multi-state cooperative societies aimed at enhancing the dairy sector, as discussed in a meeting led by Union Home and Cooperation Minister Amit Shah. The societies will focus on animal feed production, disease control, and artificial insemination; developing cow dung management models; and promoting the circular use of dead cattle remains. Shah emphasized the need for a sustainable dairy ecosystem to boost farmers' incomes through integrated cooperatives, which will provide essential services like credit and veterinary care. He highlighted the importance of ensuring that carbon credits benefit farmers directly and called for strengthening milk unions and food processing initiatives. Drawing inspiration from successful models like Amul, Shah reiterated the government's commitment to empowering rural economies and enhancing women's participation in cooperatives, ultimately contributing to a more sustainable and circular dairy industry.
Published: May 20 2025, 10 pmeznews.inIndiGo has damp-leased two Boeing 777 aircraft, each with a capacity exceeding 500 seats, to operate on its Delhi-Istanbul and Mumbai-Istanbul routes. However, following a public outcry advocating for the cancellation of civil aviation links with Turkey, the airline is preparing a contingency plan in case these aircraft are returned to Turkish Airlines. Sources indicate that IndiGo may replace the Boeing 777s with Airbus A321neo or 787-9 Dreamliners, with the A321neo currently seen as the likely option. Despite the backlash, IndiGo defends its codeshare agreement with Turkish Airlines, highlighting benefits for Indian travelers and the economy, including increased seat availability and affordable long-haul travel options. The partnership, part of the Air Services Agreement between India and Turkey, has reportedly bolstered aviation growth and job creation in India, while enhancing connectivity to Europe and the US.
Published: May 20 2025, 8 pmeznews.inMaharashtra's transport department is set to tackle escalating traffic congestion and parking issues by introducing an integrated parking policy, which will require car buyers to provide proof of a parking space at the time of purchase. Transport Minister Pratap Sarnaik convened a meeting with the Mumbai Metropolitan Region Development Authority (MMRDA) and municipal officials to discuss the policy's implementation. The state government has urged municipal bodies to create alternative parking facilities on government-owned public grounds. A statement from the Maharashtra Transport Commissioner emphasized the need for municipal corporations to design effective parking systems within parks and grounds. While discussions with various stakeholders are ongoing, the policy is expected to debut in Mumbai. A senior transport official noted that the initiative draws inspiration from successful overseas parking policies, with further consultations planned before finalizing the approach. Chief Minister Devendra Fadnavis previously highlighted the government's commitment to alleviating traffic congestion statewide.
Published: May 20 2025, 9 pmeznews.inJob postings in India requiring an MBA have plummeted by 55% in 2023 compared to the previous year, according to LinkedIn data, reflecting a significant shift in hiring practices. As employers increasingly prioritize practical skills over traditional qualifications, professionals like Garima, a communication analyst, are opting for specialized degrees that emphasize deliverability. Roop Kaistha, Regional Managing Director at AMS, noted that while MBAs from prestigious institutions still hold value for leadership roles, there is a growing demand for candidates with domain-specific certifications, particularly in tech fields such as product management and data science. The emphasis on demonstrable skills is reshaping the job market, with over half of recruiters now prioritizing candidates who meet at least 80% of required skills. As industries evolve, the relevance of traditional degrees like the MBA is being re-evaluated, with a focus on hands-on learning and micro-credentials gaining traction.
Published: May 20 2025, 9 pmeznews.inThe GST Council has not convened for over five months, violating its own regulations that mandate quarterly meetings. The last gathering took place on December 21, 2024, in Jaisalmer, with the next expected by March 31, 2025. This marks the fourth instance of prolonged gaps between meetings, raising concerns over critical reform measures, including tax rate adjustments and compliance simplification. Kerala Finance Minister KN Balagopal acknowledged the delay, attributing it partly to geopolitical tensions, and warned that further postponements could hinder reform efforts. Tax experts have urged for regular meetings to tackle pressing economic issues, with suggestions for video conferencing to facilitate discussions. Saurabh Agarwal from EY India emphasized the importance of addressing ambiguities and considering GST rate reductions to enhance the tax ecosystem. The ongoing delay poses significant challenges for the future of India's tax reforms.
Published: May 20 2025, 8 pmeznews.inH-1B visa applications for fiscal year 2026 have plummeted by 25% year-on-year, marking the lowest level since FY22, with the United States Citizenship and Immigration Services (USCIS) receiving just 358,737 applications. This decline is attributed to stricter U.S. immigration policies, including the controversial "Catch-and-Revoke" rule, increased registration fees, and the lingering effects of the Trump administration's "America First" agenda. Additionally, significant layoffs in the tech sector have led companies to prioritize local hiring over international recruitment. Regulatory changes, such as the shift to beneficiary-driven selection, have further complicated the application process, discouraging startups and small firms from nominating candidates. While demand for skilled foreign workers remains, the overall trend reflects a cautious approach across all work visa categories, with uncertainty looming over future applications unless immigration policies become more favorable.
Published: May 20 2025, 8 pmeznews.inThe Indian government is set to establish Basmati DNA testing facilities in Karnal, Haryana, and Amritsar, Punjab, as part of a broader initiative to enhance rice export regulations. Plans include making the registration of export contracts for non-Basmati rice mandatory through the Agricultural and Processed Food Products Export Development Authority (APEDA), mirroring existing requirements for Basmati rice. A registration fee of ₹10-20 per tonne is proposed, with potential increases for Basmati registration fees from ₹30 to ₹50 per tonne to fund additional testing and seed processing centres. Commerce Minister Piyush Goyal has discussed these changes with rice exporters, suggesting a fee of ₹100 per tonne, though a compromise may settle on ₹50. The government also aims to extend the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme beyond its current expiration in 2025, facilitating better export conditions for both Basmati and non-Basmati rice.
Published: May 20 2025, 8 pmeznews.inEuropean buyers are now demanding that Indian coffee exports comply with the European Union Deforestation Regulation (EUDR) ahead of its official enforcement on December 30, 2025. This early insistence poses challenges, particularly for robusta coffee shipments, as many growers and exporters are unprepared for the new compliance requirements. The EUDR aims to prevent imports of products sourced from deforested areas, mandating thorough deforestation analysis and risk assessments for commodities like coffee and cocoa. While larger arabica growers are investing in compliance, smaller robusta producers may struggle, as highlighted by Ramesh Rajah, President of the Coffee Exporters Association. Some companies, like Biota Coorg, have already begun shipping EUDR-compliant coffee, but varying buyer requirements complicate the process for exporters. As the EU remains the largest market for Indian coffee, which saw exports worth $1.84 billion in the 2024-25 fiscal year, adapting to these regulations is crucial for future trade.
Published: May 20 2025, 8 pmeznews.inChennai-based Tropical Agrosystem (India) Pvt. Ltd has unveiled a new patented herbicide, Tag Proxy, aimed at tackling persistent weed issues in Indian agriculture while addressing the critical challenge of labour shortages. This non-selective, post-emergent herbicide is designed to target all types of weeds in a single application, significantly reducing the need for manual weeding and allowing farmers to enhance productivity with less operational strain. A joint study by the Federation of Seed Industry of India and the Directorate of Weed Research highlighted that weed infestations lead to substantial crop losses, estimated at over ₹92,000 crore annually. Founder V.K. Jhaver emphasized that Tag Proxy fills a crucial gap in weed management, enhancing field efficiency. The herbicide, which combines Paraquat Dichloride and Oxyfluorfen for rapid and consistent results, has received approval from the Central Insecticides Board & Registration Committee and will be available from May 21, 2025.
Published: May 20 2025, 7 pm
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