IndiGo seeks re-appointment of M Damodaran as chairperson of Board of Directors for 5 more years Trump hikes tariff by 5% on Chinese goods in Sino-US trade war escalation Gujarat HC brings GST bloom to Textile Looms (See 'THE TOG INSIGHT' in Taxongo.com) Goyal helms Railway Board review meet; improving punctuality tops agenda (See 'Corpbrief') India sends delegation to world vocational skills expo (See 'Corpbrief') COTPA, 2013 - Criminal complaint against Director or Managing Director is only sustainable where sufficient material is present to prove their active role coupled with mens rea : SC (See 'Legal Desk') PMLA - Anticipatory bail merits being rejected where statements recorded u/s 50 of PMLA reveal the claimant to be evasive & also incriminate the claimant: HC (See 'Legal Desk') Patents Act, 1970 - Post revocation after post-grant opposition, no interim injunction order against use of patent is maintainable : HC (See 'Legal Desk') Indusfood expo 2020 eyes business of USD 1.5 Bn (See 'Corpbrief') 10th City Gas Development Network bid to be held on Aug 26 (See 'Corpbrief') FM announces change in auto policy - BS-IV vehicles registered prior to March 31, 2020 to be allowed full shelf life + Addl 15% Depreciation to be allowed till March 2020 + Ban on purchase of new cars replacing old vehicles by Govt Departments lifted Govt to unfold scrapping policy for automobiles sooner: FM Govt working on solutions for home buyers and real estate promoters stuck with fund problems FM says tax officials to be instructed not to overreach taxpayers to meet targets Govt to provide incentive to deepen bond market + SEBI to operationalise ADR / GDR to provide access to easy loans for industry + offshore rupee market to be provided at domestic exchanges Govt to amend MSME Act to give ONE definition for MSME; Cabinet approval to be taken soon NBFCs to be allowed to use Aadhar-authenticated KYC of banks: FM Bank loans - Online tracking option to be given to customers for ease of knowing status + Banks to introduce one time loan settlement policy Govt decides to withdraw Surcharge on capital gains made by FPIs + Surcharge on domestic investors also guillotined FM says All notices, including summons, by Income Tax Department to be centralised & computer-generated from October 2019 + Old notices to be either clears before Oct or to be re-generated with DIN + all notices to be cleared within 3 months Companies Act - Monetary penalty to be focus for offences under 16 Sections rather than prosecution + Govt decides to make CSR violations as civil liability and not criminal offence CCI to safeguard India Inc from abuse by global firms (See 'Corpbrief') INX Media saga - CBI seeks 5-day custody of P Chidambaram KIA Motors launches Made in India SUV Seltos SEBI Act, 1992 - Acceptance of CA certificate in particular pro forma by NSCCL does not absolve registered brokers from separate liability to submit similar pro forma as per NSE instruction : SAT (See 'Leal Desk') DLF shares tank 20% after SC issues notice for non-disclosure of key information on QIP Quantas Airways Ltd to run 20-hour direct flights from New York-London-Sydney to test passengers' endurance CBDT clarifies upon eligibility of small Start-ups for tax holiday (See 'Corpbrief') Govt eases condition of per MW lease rent on wind power projects (See 'Corpbrief')

KVIC bags Rs 7 Cr order from Oil India Ltd

Published: Jul 16, 2019

By TIOLCORPLAWS News Service

NEW DELHI, JULY 16, 2019: THE flagship store of the Khadi and Village Industries Commission (KVIC), Khadi Bhawan at Connaught Place in New Delhi has bagged order worth over Rs 7.03 crore from the Oil India Limited (OIL), in the form of Khadi gift coupons for its 14,064 employees. The OIL agreed to gift Khadi coupons of Rs 5,000 to each of its 14,064 employees in its units across the nation. The employees, however, would be able to purchase Khadi and Village Industries products worth Rs 6,500 from the coupon of Rs 5,000. The coupons, which have already been delivered, can be redeemed throughout the year at all departmental sales outlets.

In another order, the Bureau of Energy Efficiency (BEE) have also ordered 800 gift coupons in denomination of Rs 1,000 for its 800 staff. These coupons have already been delivered and the 800 BEE staff can also purchase Khadi and Village Industries products worth Rs 1,300 from the coupon of Rs 1,000. The KVIC Chairman Mr Vinai Kumar Saxena stated that such huge orders from government and PSUs will not only increase the income of the artisans but will certainly create more jobs by adding thousands of new artisans in KVIC's group. These orders would also pave way for KVIC for more convergence with different ministries and Public Sector Units.

It may be noted that many government organisations like the Indian Railways, in the recent past, have shown its keen interest in promoting eco-friendly Khadi products. In January this year, in a quick response to the instructions issued by the Ministry of Railways to procure linen items from the KVIC – the North Western Railways (Jaipur), North Central Railways (Allahabad) and Northern Railways (Delhi) had given order of approximately Rs 12.40 crore to the KVIC, for supply of Khadi duster and green/red flags.

Later, on March 25, 2019, the KVIC further bagged order to supply DT and duster worth Rs 1.25 crore from Rail Coach Factory at Kapurthala. On the same day, the KVIC received order to supply duster worth Rs 1.65 crore from North-West Railways Jaipur. In what may be a trendsetter for educational institutions, on March 05, 2019, KVIC had bagged order of different varieties of Khadi Silk robes with Angawastram from Indira Gandhi National Open University (IGNOU) worth over Rs 21 lakh.

TIOL CORP SEARCH

TIOL GROUP WEBSITES