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Category: Law,Policies and Agreements

Government releases draft on cross-border insolvency resolution

The government released a draft on cross-border insolvency that would help banks access overseas assets of a company undergoing resolution. The Indian authorities will also be required to cooperate with foreign creditors to a domestic company. The draft favours adoption of the UNCITRAL model on dealing with cross-border insolvency. The UNCITRAL model law envisages a balance between liquidation and reorganisation of global companies going in for resolution

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Govt. to launch single solar power bid of One Lakh Megawatt

The government will bring the single solar bid of 1 lakh MW, which would also include storage and solar equipment manufacturing components. The biggest tender was floated in Spain. Indian Government also brought out single tender of 10,000 MW. The country will overachieve the renewable energy target of 175 GW by 2022 and eventually have 225 GW

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Sikkim govt appoints A.R. Rahman as its Brand Ambassador

Renowned music composer A.R. Rahman has been appointed as the Brand Ambassador of the Sikkim government. He was appointed at the onset of ‘The Red Panda Winter Carnival 2018’, which aimed at increasing the flow of tourists. Sikkim government had made Mr. A.R. Rahman its Brand Ambassador of tourism and business. The 51-year-old music producer, who has in his kitty two Academy and two Grammy Awards, is now in Sikkim. Rahman had been made Sikkim’s brand ambassador of tourism and business. 

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