The Electricity (Amendment) Bill 2022 (AUG 16,2022)
Important highlights of the bill : -
- Throughout the Electricity Act, 2003, for the words and figures “the Companies Act, 1956”, wherever they occur, the words and figures “the Companies Act, 2013” shall be substituted.
- The National Load Despatch Centre shall— (a) be the apex body to ensure integrated operation of the power system in the country; (b) be responsible for optimum scheduling and despatch of electricity in the country across different States and regions.
- In section 78 of the principal Act, for the words “Planning Commission”, the words “Niti Aayog” shall be substituted.
SUPREME COURT
Supreme Court says practice of Talaq-e-Hasan 'not so improper' as women also have an option (AUG 16, 2022)
Hearing a plea challenging validity of Talaq-e-Hasan by Ghaziabad resident, Benazeer Heena, the bench said it does not agree with the petitioner. Heena claimed to be a victim of "unilateral and extra judicial Talaq-e-Hasan".
A bench of Justices Sanjay Kishan Kaul and M M Sundresh orally said, "Prima facie this (Talaq-e-Hasan) is not so improper. Women also have an option... Khula is there."
KERALA HIGH COURT
Kerala high court refuses to stay ED summons against KIIFB (AUG 16,2022)
The ED registered a case against Kerala Infrastructure Investment Development Fund Board (KIIFB) two weeks back, and served notices to its officials and former state finance minister Thomas Isaac, who is the ex-officio vice chairman of the body. The case relates to alleged FEMA violations while raising ₹2,150-crore masala bonds in London Stock Exchange in 2019.
In 2021, the Comptroller and Auditor General of India had questioned the move, saying that masala bonds caused a liability worth several crores of rupees to the exchequer.
BUSINESS NEWS
Adani Transmission becomes first group company to hit ₹4 lakh crore market cap (AUG 16,2022)
In terms of market cap, it has overtaken telecom giant Bharti Airtel, cigarette-to-hotels conglomerate ITC, biggest paint maker Asian Paints. Currently, it’s the eleventh most valuable company in India and is counted among multi baggers stocks that have delivered more than three times returns to its investors.
The collective market cap of all Adani group companies accounts to $237 billion.
NEWS AT GLANCE
- More than five crore tiranga selfies uploaded on Har Ghar Tiranga website.
- Over 79 lakh children enrolled during first four months of current fiscal under Bal Aadhaar initiative of UIDAI.
- Bharat Biotech completes phase 3 trial of intranasal Covid vaccine.
- UK becomes first country to approve Omicron vaccine.
- Parsi new year Navroz being celebrated in different parts of the country today.
WORD OF THE DAY
Masala bonds are bonds issued outside the country, and denominated in Indian rupees instead of normally preferred US dollars.
MARKET TODAY (as on 16.08.2022)
BSE SENSEX 59,842.21 ▲ 379.43 (0.64%)
NIFTY 50 17,825.25 ▲ 127.10 (0.72%)
1 US Dollar = 79.28 Indian Rupee (Last updated · 16 August at 2:30 pm UTC)
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