63 moons technologies ltd, formerly known as Financial Technologies said it received a provisional attachment order from the Directorate of Enforcement, Mumbai, attaching mutual funds amounting to Rs 306.70 crores. The company is taking appropriate steps in consultation with the legal counsel of the company in this matter, it said. The move comes a day […]
Asserting there are no quick fixes for grave problems facing the public sector banks, mainly centered around close to Rs 5 lakh crore non-performing assets, ASSOCHAM President Mr Sunil Kanoria today said a paper brought out by the chamber clearly suggests mergers or consolidation of the PSBs is certainly no answer to the present crisis, […]
Central Bank of India said the ratings on its bonds have been downgraded by Brickwork Ratings due to a deterioration in its financial condition. The bank is among many government-owned lenders that have come under substantial stress in recent quarters due to loan defaults by big borrowers. Many private companies in India are defaulting on […]
Comedian Kapil Sharma is set to be summoned by Mumbai Police after he sent off a tweet saying he was asked by local municipal authorities for a bribe of Rs 5 lakh when he was constructing his office. Sharma had asked BJP leader and Prime Minister Narendra Modi asking if this was the better days he […]
The government is considering the recommendation of Special Investigation Team (SIT) on black money to ban cash transactions above Rs 3 lakh, a top Finance Ministry official said at an ASSOCHAM event held in New Delhi today. “The SIT recommendations are under consideration. As far as the Income Tax Department is concerned, we have put […]
Adding its voice to the chorus of disappointment around the decision for the Reserve Bank of India to seek a new governor, Kotak Institutional Equities said it was “baffled” by the decision. RBI governor Raghuram Rajan — one of the most effective economic reformers India has ever seen — had announced his decision to step […]
The government has replied to some of the criticisms about its handling of Agusta Westland probe, and said that the inquiry is taking time because the key accused are outside the country. The defence ministry also rejected AK Antony’s statement that it was the Congress government that blacklisted the companies involved in this alleged scandal […]
The State Bank of India, India’s biggest lender, said India’s news media was flouting established ethical norms in its reporting of the Vijay Mallya episode. The media has been blaming state-owned banks for ‘going slow’ or showing a lack of due diligence when advancing loans to the businessman, who is now known to be in […]
A vigilance special court in Kerala hearing the solar scam has ordered that a first information report (FIR) be lodged against Chief Minister Oommen Chandy and another minister Aryadan Muhammad. The direction came after an explosive revelation by Saritha Nair, accused in the scam, that she paid Rs 1.9 cr to persons to be passed […]
Muthoot Finance, one of India’s leading gold loan companies, has cautioned people against paying money to so-called agents in return for loan approvals. “In a recent instance, an unidentified organisation has fraudulently attempted to lure customers/investors, through the platform of Muthoot Finance, by sending bogus loan approval letters to unsuspecting people,” the company said. To […]
India has a shortage of close 1.9 cr housing units in urban areas, but 1.1 cr houses in these areas are lying vacant as their owners do not live in them, nor do they rent it out, pointed out housing minister Venkaiah Naidu. The problem, he said, is being addressed in India’s new Draft National […]
In a novel gesture, NDTV, one of India’s biggest broadcasting firms, issued a detailed question-and-answer feature to counter what it called “media reports being circulated on various forums” about an alleged funding scam. The company has been asked by the government why a fine of Rs 2,030 cr ($300 mln) should not be imposed for […]
Despite protests, the Delhi government has tabled Lokpal bill in the Assembly. Leaders of Swaraj Abhiyan, the hardline group that split from Aam Aadmi Party, including Prashant Bhushan and Yogendra Yadav were detained by the police after they marched to the Delhi Assembly against the ‘toothless’ Lokpal in Delhi. The bill is unlikely to be […]
Several activists of ‘Kiss of Love’ movement in Kerala, including its head Rahul Pasupalan, have been arrested by police in Kerala. According to reports, Pasupalan and his wife have been arrested under various sections of the IT Act. According to journalist Dhanya Rajendran, the arrest of Rahul Pasupalan is not linked to online pedophilia, as […]
The compliance window in the black money law has created more confusion and fear in the minds of the industry leaders, professionals, trading entrepreneurs, than giving any comfort of stress-free regime that treats the tax-payers with respect, the ASSOCHAM said. India’s black money law has tough provisions for those found to be holding assets and […]
A photo of IPS officer Rishiraj Singh sitting while all his colleagues stand up and salute Kerala Home Minister Ramesh Chennithala has gone viral on social media with many Malayalis supporting the defiant act of the IPS officer from Rajasthan. The Kerala government, led by the Congress Party, has been grappling with the question of […]
Industry association ASSOCHAM, which has members from most of the big industrial groups in India, today said the opaque nature of decision making in India should be done away with to prevent incidents like the latest ‘corporate espionage’ involving top industrial houses in India. In a statement, the association said: “One fails to understand what […]
It may be banned in India, but that has not prevented India’s neighbour Bangladesh from going online in a big way with Google’s Street View. The service allows users to virtually walk along any street using their computer or mobile phone using the Google Maps app. Globally, 65 countries are on Google Street View. Google […]
HCL Infosystems, the India-focused arm of the HCL group, said it has been named in a charge sheet related to alleged irregularities in the award of a contract to supply computer hardware and related services under the National Rural Health Mission in 2009. The chargesheet has been filed in a special court in Ghaziabad, the […]
The deallocation of coal blocks by the Supreme Court will hit metal players harder than most power players, Crisil Research said in a report. Power costs in West Bengal and Punjab could rise, it added. It said power generation companies will be able to pass through increased costs, but not metal companies. Coal is used […]
