High headlines: SC verdict on AGR, moratorium on mortgage compensation and more

1. SC affords telcos 10 yrs to pay AGR dues, orders 10% to be paid upfront

The Supreme Court on Tuesday allowed the firms to obvious their adjusted adversarial earnings (AGR) dues in ten years and originate by making an upfront price of 10 per cent of the general dues. Telecom firms own to present an endeavor for paying the AGR dues as per the SC relate. Learn on…

2. Moratorium on mortgage compensation will be prolonged for 2 years, Centre tells SC

The Centre and the Reserve Bank of India informed the Supreme Court on Tuesday that the moratorium on compensation of loans is extendable to two years in sure circumstances, and that the sectors most distressed by the financial slowdown are being identified. “We are within the formula of identifying the distressed sectors to alter advantages as per the affect of the hit they’ve taken,” the Solicitor General Tushar Mehta informed the three-retract bench, headed by Justice Ashok Bhushan. Learn more…

3. August manufacturing exercise hits growth after 4 months, PMI rises to 52

India’s manufacturing exercise broke free from a 4-month long contraction within the aftermath of the coronavirus pandemic and subsequent nationwide and divulge lockdowns, to upward push in August. In accordance with the month-to-month IHS Markit India Manufacturing Buying Managers’ Index (PMI) witness launched on Tuesday, manufacturing PMI stood at 52 in August, up from 46 in July. Learn on…

4. Videocon Industries promoters watch debt recast equipment from lenders

In a closing ditch effort to attach the firm from going to liquidation, the promoters of Videocon Industries own sought a debt restructuring equipment which would maybe lead to banks getting attend Rs 33,400 crore from the firm over the following couple of years. The firm used to be sent to the Nationwide Company Regulation Tribunal (NCLT) for debt decision in December 2017 and has practically shut operations. Learn on…

5. Desi respectable community startup Apna raises $8 mn in Sequence A funding

Apna, a startup that helps skilled professionals admire carpenters, painters, arena sales brokers and others discover discover admission to to local job opportunities has raised $8 million in Sequence A from Lightspeed India and Sequoia Capital India. This spherical also saw participation from original investors, Greenoaks Capital and Rocketship VC. Learn more…

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