Vajiram Economics Current Affairs March 2017 pdf For UPSC,MPSC,KPSC,GPSC

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Vajiram Economics Current Affairs March 2017 pdf For UPSC,MPSC,KPSC,GPSC

Vajiram Economics Current Affairs March 2017 pdf For UPSC,MPSC,KPSC,GPSC – Hello Friends Welcome to studydhaba.com .Here We are sharing Vajiram Economics Current Affairs March 2017 pdf For UPSC,MPSC,KPSC,GPSC and Other Competitive Exams .

Vajiram Economics Current Affairs March 2017 pdf For UPSC,MPSC,KPSC,GPSC

Vajiram Economics Current Affairs March 2017 pdf For UPSC,MPSC,KPSC,GPSC

Academy – Vajiram And ravi

Category – Current Affairs 

Month – March 

Format- Pdf

Important for  – UPSC prelims 2017,Mains 2017 And Other Competitive Exams 

Start-up firms may soon find it easy to wind up

Details :

Why in news?

To enable faster exit for start-ups and to bring the winding up process in line with global best practices, the Department of Industrial Policy and Promotion (DIPP) has written to the Ministry of Corporate Affairs (MCA) to notify start-ups as ‘Fast Track firms.’ The DIPP is the nodal Central government body for the Start-up India initiative, while the MCA is the concerned authority for notifications on winding up of companies.

News Summary

Once this is notified, start-ups shall be able to wind up their business within a period of 90 days from making an application for the same. Fast Track firms will be start-ups with simple debt structures or those meeting certain criteria that will be specified.

Bharat Navodaya: Start-Up India Reform Report

The Report was prepared by the Infosys founder N.R. Narayana Murthy-chaired Alternative Investment Policy Advisory Committee (AIPAC), following a request from capital markets regulator SEBI. The SEBI had asked AIPAC to spell out the issues being faced by start-ups in India and recommend reform measures. The ‘Bharat Navodaya: Start-Up India Reform Report’ (released in March, 2017) had recommended expediting the company winding up process in India. The report said expediting the company winding up process in India would require the notification of Sections 304-323 of the Companies Act, 2013, relating to voluntary winding up. The benefits of voluntary winding up operations involve no court supervision.

The report also  noted that the entrepreneur leaves from his previous venture and starts a new venture. So, there should be a provision to carry forward the losses of the failed venture to the new venture. Therefore, it recommended that the unutilised losses of an eligible start-up, which is being wound up, should be allowed to be carried forward and set off by the founder of that start-up, against the profits of a new eligible start-up set up within a period of three years from date of winding up of the failed start-up.

World Gold Council

The World Gold Council is the market development organisation for the gold industry. The council is aimed to stimulate and sustain the demand for gold. The council is headquartered in UK and has offices in India, China, Singapore, Japan and US.

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