Asia Business Companies Europe

Mallaya tweets after attachment value crossed 13000 Cr still banks are after him

Lliquor baron Vijay Mallya on Friday claimed his group’s properties worth over Rs 13,000 crore have been attached, more than the ‘claimed’ Rs 9,000 crore that he “ran away with” asking where is justice and how far will it go.   “Every morning I wake up to yet another attachment by the DRT (debt recovery Read More…

Companies Legal Market

31000 Crores Scam : DHFL’s shares have now nosedived further 30%

Reuters said that the Ministry of Corporate Affairs will look into allegations against Dewan highlighted by Cobrapost. The report further said that the government had already launched its probe.   This news bought today crash, and DHFL’s shares have now tanked by 30% over the last four days. The company’s stock is now trading at Read More…

Business Companies High Court

Officers Association petition dismissed over LIC acquisitions of IDBI share

Justice Vibhu Bakhru of Delhi High Court rejected the petition by the All India IDBI Officers Association, which had opposed the move of Life Insurance Corporation (LIC) on the ground that change in shareholding could take away the public sector bank status of IDBI.   The association was concerned that taking away public sector status 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…