Dubai-based billionaire BR Shetty has sued Bank of Baroda (BoB) and audit firm Ernst & Young (EY) in a New York court, accusing them of ignoring fictitious and fraudulent transactions that resulted in NMC Healthcare going bankrupt. Shetty is seeking $8 billion in damages in the suit that also names the top management of NMC Healthcare, and Netherlands-based Credit Europe Bank. A top NMC Healthcare official confirmed the development to Business Standard and said despite several meetings, senior BoB officials in India did not take remedial steps for fear of getting involved in an international ponzi scheme perpetrated by then senior management officials.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
Employees are often under this impression that as the employer has deducted tax at source, they need not file income tax (IT) returns.
The government has decided to construct cruise terminals at Mumbai, Goa, Mangalore, Kochi and Chennai.
Merger and acquisition (M&A) activity involving Indian companies included 156 deals with a total disclosed deal value of $12.1 billion in the quarter.
There will be some populist announcements in Budget.
Finance Minister Arun Jaitley last month pointed to the high cost of capital for India's businesses as a key factor behind a manufacturing slowdown.
Reliance ADAG, Tech Mahindra among top recruiters at IIM-A
The capital outlay to cover the modernisation programmes have got a hike of 10.05 per cent.
Firms are still barred from holding board positions in the special purpose vehicle that will develop the airport.
The government now ends its mandate with reaffirmation in the vote-on-account of the same goals, for which it claims to have a clear line of sight.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
SHe-box deals with complaints from women employees in both public & private sectors.
Tax rules that could land you in trouble
Firms that have a turnover of under Rs 1 cr can pay tax without maintaining books.
Unless the model is being phased out or is expected to get a facelift, buying in December makes sense
India's fifth largest software services firm Tech Mahindra will acquire global network services firm Lightbridge Communications Corporation (LCC) in an all-cash deal worth $240 million (over Rs 1,486 crore).
Nandan Nilekani said one board member had received two anonymous complaints on September 30, 2019 - one dated September 20, 2019, titled 'Disturbing unethical practices' and an undated note with the title, 'Whistleblower Complaint'.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
With the help of technology and a billion citizens, two engineering students are on a mission to make India clean.
The order, which came on Monday, stated that revenue authorities cannot split the agreement when the parties to the agreement considered the royalty and technical knowhow as a single package.
Start-ups, especially the e-commerce players, are either staying away from these campuses or recruiting in much smaller numbers than last year
Not doing so might mean a penalty, not being able to revise returns or carry forward losses and forfeiture of interest on refund
Sources estimate there could be about 60 applications at the department of industrial policy and promotion for up to 49 per cent foreign direct investment in single-brand retail.
Group policies are more suitable for diabetics; these are negotiable & flexible.
India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that, Modi told the CEOs.
Ahead of the likely acquisition of online taxi aggregator TaxiForSure by larger competitor Ola Cabs, technology teams of the two Bengaluru-based companies are learnt to be evaluating ways in which the two platforms can be integrated, sources said.
'Biometric Aadhaar-based surveillance is not only about violation of privacy, but also about the treasure hunt for unprecedented financial surveillance and economic intelligence in the economic history of mankind,' asks Gopal Krishna.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
Outbound deal count in the current calendar year fell to 100 from 154 in 2012.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
NCW data show a noticeable rise in sexual harassment at the workplace.
Biometric authentication is based on the unscientific and questionable assumption that there are parts of human body that does not age, wither and decay with the passage of time.
The size of corporate fraud in India almost doubled after 2009, and such cases also increased in number, said a report from Thought Arbitrage, a think tank in Delhi.
Neha Bagaria, founder and CEO, JobsForHer tells you how to handle the situation.
Ensure the employer has all relevant documents. Else, your pay will take a serious hit in the next two months.
Parekh ensures that he never forgets the importance of correctness.
The preference for digital banking now cuts across all customer segments.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
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