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SC ruling empowers MSME promoters to submit resolution plans under IBC
In a landmark judgment, the Supreme Court has clarified the applicability of Sections 29A and 240A of the Insolvency and Bankruptcy Code (IBC), providing a significant boost to Micro, Small, and Medium Enterprises (MSMEs) facing insolvency.The Court ruled that the eligibility for MSME promoters to submit resolution plans under Section 240A should be determined by the date of submission of the resolution plan, rather than the commencement of the Corporate Insolvency Resolution Process (CIRP). This decision overturns a previous ruling by the National Company Law Appellate Tribunal (NCLAT), which..
TNPDC hesitant to install prepaid meters
While the Tamil Nadu Power Distribution Company (TNPDC) remains hesitant to implement prepaid smart meters, many consumers have expressed support for the idea. The Union Power Ministry has recommended TNPDC consider adopting prepaid meters to offer consumers greater flexibility and convenience.In a recent meeting, Union Minister for Power and Urban Affairs, Manohar Lal, urged TNPDC officials to explore both prepaid and postpaid options, suggesting special benefits for those who opt for prepaid meters. Tamil Nadu’s Electricity Minister, V. Senthil Balaji, highlighted the state's current posit..
Sonowal inaugurates key infra projects at Chennai and Kamarajar ports
"Union Minister for Ports, Shipping & Waterways, Sarbananda Sonowal, inaugurated infrastructure projects worth ₹187.33 crore to strengthen operations at Chennai and Kamarajar Ports, enhancing India's maritime infrastructure and green port initiatives.The key projects include:EXIM Godowns at Chennai Port: Four newly constructed godowns, covering 18,000 square meters at a cost of ₹73.91 crore, will provide storage for sensitive cargo, such as agricultural products and food grains. This project, funded under the Sagarmala scheme, supports India’s goal of expanding trade capacity at ma..
