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…

Business Legal

Patanjali Advani fight over Ruchi soya reached NCLT gate

Ruchi Soya, which is facing the insolvency proceedings, has a total debt of about Rs 120 billion (Rs 12,000 crore). The company has many manufacturing plants and its leading brands include Nutrela, Mahakosh, Sunrich, Ruchi Star and Ruchi Gold.   In December 2017, Ruchi Soya Industries entered into the Corporate Insolvency Resolution Process (CIRP) and Read More…

Asia Business National World

UAE says it didn’t disclose quantum of kerala flood funding

The United Arab Emirates (UAE) on Friday said that it has not finalised any specific amount of monetary assistance for flood-ravaged Kerala. The clarification comes amid a raging controversy over the Centre rejecting foreign aid for the southern state, where over 350 people were killed and multitudes displaced due to heavy rains. UAE ambassador Ahmed Read More…

Business Indian Subcontinent Legal

Ambani jumps to fight congress over raffle 41000 crores scam charges

Anil Ambani-led Reliance group on Wednesday filed defamation suits against several Congress leaders, who levelled allegations against the company in connection with the controversial defence deal to buy 36 Rafale fighter jets from France in a government-to-government contract. The controversy surfaces at a time when the Defence Ministry plans to buy 110 more additional fighter Read More…

Business Legal

CBI Court grants bail to Usha in 14000 Crores Rs looting case

Special CBI court in Mumbai granted bail on Monday to Usha Ananthasubramanian, former managing director and CEO of Allahabad bank, in connection with the Rs 140-billion fraud at the Punjab National Bank (PNB). Earlier this month, the court had taken cognisance of the sanction granted by the President to prosecute Ananthasubramanian in the case. As Read More…

Business

Rupees touched historic low 70.32 and India trade deficit widen to 18 billion US$

The Indian rupee dropped to a historic record low in opening deals on Thursday with investor sentiment affected by a widening trade deficit on the domestic front and the broad rise in the US dollar versus other Asian peers. The partially convertible rupee was trading at 70.25/26 per dollar, at 0343 GMT, versus its Tuesday’s Read More…