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  AEL may acquire JAL:  Interesting facts put together Fact 3:  National Asset Reconstruction Company Ltd. (NARCL) led Committee of Creditors (CoC) approved Adani Enterprises Ltd's (AEL) bid of ₹ 12731 Cr. (total resolution plan value app. ₹ 14535 Cr.) to acquire debt-ridden Jaiprakash Associates Ltd.(JAL), though Vedanta Group offered ₹ 16000 Cr. AEL's offer of an upfront cash payment of ₹ 6005 Cr. and payment of balance amount over two years thereafter, appear to have found favour with CoC as against the offer of Vedanta, which offered an upfront cash payment of ₹ 3800 Cr. and paying the balance amount over five years. NARCL has the highest exposure of ₹ 49,119 Cr., followed by Asset Care & Reconstruction Enterprise (ACRE) (₹ 2,315 Cr.) and the two ARCs  together  hold nearly 90% of the total voting share in the CoC. Creditors' total exposure to JAL was ₹ 57185 cr. The offer of AEL works out to 22% of the total exposure. Fact 1: A  new National Asset ...

  GST Reforms: Who is the beneficiary? Aam Aadmi or Corporate? GST Council, comprising finance ministers and representatives from both the state and central governments, implemented certain reforms to the existing policy, by reducing the slab rates to two (from four) and introducing a new 40% slab for goods and services that are considered luxurious/intoxicant/injurious to health. The move is being hailed as the most beneficial for a common man. Even before the dust set in, the first discrepancy cropped up, as exemption of GST on life and health insurance policies were restricted to individual insurance and reinsurance thereof. All India Retirees' Federation and two others filed a writ petition (WP) in the High Court of Kerala (high court), challenging the levy of GST on group health insurance policies. The petitioners also requested the high court to direct IBA (an association representing majority of the Indian Banks) and National Insurance Co. Ltd. to not to levy GST on insuran...