12 Sep (in 8 days) — GST Council to meet on September 12
12 Sep (in 8 days) — GST Council to meet on Sept 12; to focus on ease of doing biz, compliance
12 Sep (in 8 days) — GST Council to Meet on Sept 12
12 Sep (in 8 days) — GST Council to Hold 57th Meet on Sept 12
12 Sep (in 8 days) — GST Council to meet on Sept. 12
GST
1.ITC Infotech to acquire 22% of Happiest Minds promoter stake for ₹1,329 crore; firms to merge
Happiest Minds Technologies agreed to sell a 22.1% stake held by its promoters for ₹1,329 crore to ITC Infotech. The acquisition will occur in two tranches: 11% for ₹653 crore at ₹390 per share and 11.106% for ₹676 crore at ₹400 per share. The companies will merge, with shareholders of Happiest Minds receiving 25 shares of ITC Infotech for every 81 shares held in Happiest Minds.
This merger could reshape the mid-cap IT landscape in India.
businessline · The Hindu BusinessLine
Insolvency & IBC
2.Invitation of Applications for the post of Whole Time Member, IBBI (2.01 MB)
Applications are invited for one (1) post of Whole Time Member in the Insolvency and Bankruptcy Board of India, established under the Insolvency and Bankruptcy Code, 2016. The Whole Time Member can choose to receive a salary of Rs.5,00,000/- per month or the pay admissible to an Additional Secretary to the Government of India. The term of office is up to 5 years or until the age of 65, whichever is earlier.
This is a key appointment that affects the governance of insolvency and bankruptcy processes in India.
Insolvency and Bankruptcy Board of India
3.NCLT special bench hearing today
The NCLT constituted a five-member special bench to decide the personal insolvency case involving Zee Group founder Subhash Chandra. The bench includes Judicial Members Bachu Venkat Balaram Das and Mahendra Khandelwal, along with Technical Members Atul Chaturvedi and Ravindra Chaturvedi. The special bench is scheduled to hear the matter on September 1.
This case could set precedents for personal insolvency proceedings.
NCLT · The Hindu BusinessLine
Banking & RBI
4.Bank credit grows 16.5% in June, deposits steady at 11.5% in July; MCLR up
Scheduled commercial banks reported a bank credit growth of 16.5% year-on-year at end-June 2026, compared to 9.9% a year ago. Deposit growth remained steady at 11.5%. The weighted average lending rate (WALR) on outstanding rupee loans stood at 8.97% in July, while the WALR on fresh rupee loans eased to 8.52%.
The growth in bank credit and deposits indicates a resilient economy, which is crucial for financial planning and advising clients.
Reserve Bank of India · The Hindu BusinessLine
Other updates
5.Maruti Suzuki India to invest ₹77,500 crore till FY31 on capacity expansion
Maruti Suzuki India announced an investment of ₹77,500 crore until FY31 for capacity expansion across its plants and new product development. For FY27, the company plans a 40% increase in capital expenditure from ₹10,000 crore to ₹14,000 crore. The major allocations will focus on capacity expansion, new model development, R&D, plant maintenance, marketing, carbon reduction measures, and logistics.
This significant investment impacts the automotive sector and may influence related financial advisory and compliance.
businessline · The Hindu BusinessLine
6.ONGC to invest ₹1 lakh crore till FY30 on deep-sea exploration
ONGC plans to invest ₹1 lakh crore until FY30 to enhance deep-sea exploration efforts. The company aims to drill more than 350 wells by 2030, starting with eight deepwater wells by March 2027 and adding another ten in the following year. The capital expenditure target for FY27 is set at ₹30,000 crore.
This investment in exploration can affect energy sector dynamics and related financial advisory.
The Centre has notified the Semicon 2.0 scheme, which involves a ₹1,27,500 crore plan to enhance India's semiconductor capabilities. The scheme includes 40% fiscal support for silicon wafer fabs with a minimum investment of ₹20,000 crore and incentives for chip design. The initiative aims to develop a complete semiconductor ecosystem in India and is expected to create 50,000-60,000 direct jobs.
This scheme can significantly impact the technology sector and investment opportunities for clients.
businessline · The Hindu BusinessLine
8.India’s fiscal deficit for the first four months of FY27 stands at ₹4.55 lakh crore
India's fiscal deficit for the first four months of FY27 is ₹4.55 lakh crore, which is 26.8% of the full-year target. The fiscal deficit target for FY27 is set at 4.3% of GDP, or ₹16.96 lakh crore. Revenue receipts reached ₹12,67,573 crore, with net tax revenue at ₹844,560 crore, representing 29.5% of the Budget Estimates for FY27.
Understanding fiscal deficit trends is crucial for advising clients on economic conditions and potential impacts on business.
businessline · The Hindu BusinessLine
Business briefs
9. Coal India to launch IPOs of Mahanadi, South Eastern Coalfields this fiscal Coal India Ltd
10. Centre allocates 13 lt of sugar for sale during Sept first fortnight Food Ministry
11. Coconut exports surge 62% to ₹7,038 cr in FY26 Coconut Development Board