Business Companies Industries Market

Exports rise but trade deficit widens to $17 billion cause alarm

Exports bounced back in October after a contraction in September, as engineering goods, pharmaceutical and chemical shipments picked up pace.  However, this didn’t prevent trade deficit from widening, as crude oil bill continued to shoot up. Outbound trade rose by 17.86 per cent in October to $26.98 billion. In September, exports had declined for the Read More…

Companies South India

600 Crores Scam , 15000 investors duped, Ex Minister BJP’s janardhan arrested

Karnataka  Central Crime Branch (CCB) police arrested Ballari mining baron and former BJP minister G Janardhan Reddy, after 20 hours of interrogation.  Police also arrested Reddy’s close aide Ali Khan on charges of criminal conspiracy in a multi-crore cheating case. Speaking soon after the arrest on Sunday afternoon, Additional Commissioner of Police (Crime) Alok Kumar Read More…

Companies Market

Royal Enfield’s 650cc goes International

Royal Enfield, the global leader in the mid-size motorcycle segment, on Wednesday launched the much awaited 650cc twin bikes called the Interceptor and Continental GT 650 for the international market in California. The company said both motorcycles would be launched in India later this year. Both bikes are available in three variants such as Standard, Read More…

Companies Legal National Politics

CIC issues notice to PMO, RBI on disclosure of the wilful defaulters NPA list

The Central Information Commission (CIC) has issued a show-cause notice to RBI Governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of the wilful defaulters’ list. The CIC has also asked the Prime Minister’s Office, the Finance Ministry and the Reserve Bank of India (RBI) to make public the letter of former RBI Read More…

Companies Technology Women World

“Walkout For Real Change” Tsunami hits google

In Silicon Valley, women also are becoming fed up with the male-dominated composition of the technology industry’s workforce a glaring imbalance that critics say fosters unsavoury behaviour akin to a college fraternity house. Hundreds of Google engineers and other workers around the world walked off the job Thursday to protest the internet company’s lenient treatment Read More…

Companies Legal

ED fiercely fights for PC custody inside court

The Enforcement Directorate on Wednesday opposed in a Delhi court the anticipatory bail plea of former Union minister and Congress leader P Chidambaram in the Aircel-Maxis money laundering case and sought his custodial interrogation. ED, which filed its response to the anticipatory bail plea of Chidambaram, said that he has remained evasive and was not Read More…

Companies Legal

Amnesty International Bengaluru offices raided by ED

The Enforcement Directorate (ED) Thursday conducted searches at two locations here in connection with a foreign exchange contravention case against human rights watchdog Amnesty International India, officials said. They said the searches are being conducted under the Foreign Exchange Management Act (FEMA) and the central probe agency is looking for documents. The ED, they said, Read More…

Business Companies Industries Market

Super bumper Diwali harvest for E malls Portals

Diwali has come early for e-tailers like Amazon and Flipkart whose Great Indian Festival and Big Billion Days Sales got over recently. With the 5-day long sale fst, both Amazon and Flipkart have amassed a whopping Rs 15,000 crore.  RedSeer Consulting in its report said e-tailers had a better “sales performance over the five festive Read More…

Companies Industries Market

Investor wealth eroded by Rs 2.69 trillion ; 370 scrips hit their 52-week lows on BSE

Investor wealth eroded by Rs 2.69 trillion Thursday hit hard by massive sell-off in the equity market where the BSE benchmark index plummeted over 1,000 points in intra-day trade. Following the weak show by equities, the market capitalisation (m-cap) of BSE-listed companies witnessed an erosion of Rs 2.69 trillion to Rs 1.5 trillion. “Indian stock Read More…

Companies Market

Mahindra to offer vehicles on lease

Homegrown automaker Mahindra & Mahindra Wednesday launched a new vehicle acquisition scheme that allows customers to lease vehicles for a period of up to five years. The lease option scheme will be available on Mahindra’s personal portfolio of vehicles such as the entry level sports utility vehicle (SUV) KUV100, compact sports utility vehicle TUV300, mid-sized Read More…

Companies National Supreme Court

Ericsson knocks SC door not to allow Anil Ambani go out of India

Swedish telecom equipment company Ericsson was to get the payment from  the business transactions it had done with the embattled Anil Ambani group that has debt running up to Rs 45,000 crore. Ericsson had earlier agreed to scale down its dues towards Ambani’s group from Rs 1,600 crore to Rs 550 crore as part of Read More…

Companies Europe Life Style Technology

Hyperloop capsule unveiled at Spain

Hyperloop Transportation Technologies (HyperloopTT/HTT) provided the first look of their full-scale passenger Hyperloop capsule at an unveiling ceremony in Puerto de Santa Maria, Spain. The capsule, “Quintero One” is constructed almost completely out of HyperloopTT’s Vibranium — a specially made dual-layer smart composite material.  It was built at the Southern Spain aerospace facilities of HyperloopTT’s Read More…

Asia Business Companies Europe Market

BJP government awards 84.6% contracts to Vedanta, and 16.4 % to Government giants ONGC, IOC

Indian Government   has set a target of cutting oil import bill by 10 per cent to 67 per cent by 2022 and to half by 2030.  But Import dependence has increased since 2015 after set of  target. India currently imports 81 per cent of its oil needs.  BJP Government under Prime Minister  Modi  had Read More…

Companies Market National Opinion Supreme Court

Jio growth to get slower after SC bars aadhaar link to SIM

The apex court order disallowing telcos from using the faster Aadhaar-based verification system could slow the pace of subscriber additions significantly, potentially delaying the company’s plan to acquire a 50% revenue market share, analysts said.  Jio added 11.78 million customers in July, outpacing Airtel’s 313,000, Vodafone India’s 609,000 and Idea Cellular’s paltry 5,489, according to Read More…

Companies Industries Legal Technology

Mobile Companies Instructed to submit plan to discontinue Aadhar based eKYC

The Supreme Court, last week, struck down Section 57 of the Aadhaar Act, which allowed private companies to use the 12-digit biometric ID-based eKYC.  Days after the Supreme Court imposed curbs on the use of Aadhaar, biometric-issuing authority UIDAI Monday asked telecom companies to submit, within the next 15 days, a plan to stop using Read More…

Business Companies Market

PayTM founder share diluted again

Paytm’s parent firm had raised $30 million from SAIF Partners, Intel Capital, Silicon Valley Bank and SAP Ventures among others since 2007. In 2010, the company had filed for an initial public offering but shelved the plan after receiving regulatory clearance Alibaba and its payment unit Alipay together would have close to 40 per cent equity Read More…

Companies National Supreme Court

Aadhaar link to bank account and SIM card is not required : Supreme Court

Today Apex  court said it wasn’t mandatory to link Aadhaar to bank accounts or mobile numbers, but that that the identification was compulsory for the filing of I-T returns and for the allotment of Permanent Account Numbers (PAN). It said no child can be denied benefits of any schemes if he or she can’t produce Read More…

Business Companies

Nitin Sandesara another Gujarathi fled India looting 5000 crores bank money

The CBI and the ED have booked Vadodara-based Sterling Biotech  , its directors Nitin, Chetan and Dipti Sandesara, Rajbhushan Omprakash Dixit, Vilas Joshi, chartered accountant Hemant Hathi, former Andhra Bank director Anup Garg and unidentified persons for cheating banks of Rs 5,000 crore. Related to this case the ED arrested Delhi-based businessman Gagan Dhawan and Read More…

Business Companies Market

RBI “No” to Yes bank Founder CEO term plunged its stock 31.67%

Stock exchanges were closed Thursday on account of a public holiday.  The Reserve Bank on Wednesday curtailed the term of Yes Bank’s founding CEO Rana Kapoor and asked the private sector lender to look for his replacement by January 2019. Kapoor, who has been managing director and CEO since the bank’s inception in 2004, had Read More…

Companies Environment Legal Nature Supreme Court

Supreme court says “NO” to TN plea on Sterlite

Supreme Court Monday asked the National Green Tribunal (NGT) to decide on the merits and maintainability of the issue raised by the Tamil Nadu government on Vedanta’s plea challenging the closure of its Sterlite plant at Tuticorin.  A bench of Justices R F Nariman and Indu Malhotra said it has already asked the NGT to Read More…

Business Companies Life Style World

Indian Top 10 Billionaires in 2018

Forbes magazine, the business magazine that produces an annual list on the richest billionaires worldwide every year, has published its latest list for the year 2018.  The magazine has taken into account 2,208 billionaires from all over the world to come out with this list. Out of these 2,208 billionaires, there are 121 Indian billionaires,19 Read More…

Business Companies Legal

Inshumathi Refineries Raided & booked under PMLA

The Enforcement Directorate (ED) on Saturday conducted searches at nine locations in Tamil Nadu in connection with an alleged Rs 90 crore bank loan fraud money laundering case, officials said. Searches are being conducted at Virudhunagar, Madurai and Coimbatore in connection with its probe involving Ms Inshumathi Refineries Pvt Ltd which is based in Virudhunagar Read More…

Companies Technology

Post Facebook data leaks Apple tighten norms for apps

Globally, in particular   after Facebook’s Cambridge Analytica data scandal, there has been popular demand that tech companies be transparent about how they use users’ data.  Data privacy has also grown among tech companies after the General Data Protection Regulation (GDPR) law was put into effect from May 25. The European law is touted as Read More…

Business Companies Legal

Stringent non filling of financials companies act under review

Currently, non-filing of financial statement and annual return of Companies  is a criminal offence with a provision of imprisonment as well as fine. Now In a major relief to the corporate sector, non-filing of financials by the companies with the government may soon be decriminalised and recategorised as a civil offence punishable with fine only.  Read More…