Setting aside an order passed by the National Company Law Tribunal (NCLT), New Delhi bench, the National Company Law Appellate Tribunal (NCLAT) ruled that the bank guarantee provided by Canara Bank is held to be covered by the exception provided in provisions of section 14(3)(b) of the Insolvency and Bankruptcy Code (IBC) and the moratorium prescribed under section 14(1) of IBC, 2016 will not apply to the encashment of the bank guarantee.
Recognizing the immense contribution and potential of MSMEs, the finance minister has allocated a record ₹22,138 crore in the Union budget for FY24 for the MSME ministry
New Delhi [India], January 12 (ANI/ BusinessWire India): The Indian e-commerce industry has been driven by increasing mobile phone adoption. As of October 31, 2022, there are 1143 million mobile connections with 625 million urban and 518 million rural connections. A few trends that are set to further increase mobile commerce: - Launch and adoption of 5G network - Launch and adoption of ONDC (open network for digital commerce) - Quick commerce - Hyperlocal delivery The India e-commerce market size is estimated to be USD 75 billion in 2022 and has the potential to expand to USD 111 billion by 2024 and USD 200 billion by 2026, with a CAGR of 20-22 per cent. The online retail market in India is estimated to be 25 per cent of the total organized retail market and is expected to reach 37 per cent by 2030. India's social commerce gross merchandise value (GMV) is expected to reach USD 20 billion by 2026, with a potentially reach USD 70 billion by 2030. Amazon and Flipkart acco