For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
External affairs ministry spokesperson Arindam Bagchi said India is engaged with the Qatari authorities on the matter and that the government will continue to extend all legal and consular assistance to the Indian nationals.
The Delhi high court on Friday directed the civil aviation regulator to deregister planes leased to Go First within five working days, giving respite to the lessors. This means that the airline will have to give back all 54 aircraft to the lessors if its resolution professional (RP) does not challenge the order or ask for a stay. Justice Tara Vitasta Ganju also refused the request of the RP, represented by advocate Diwakar Maheshwari, to keep the operation of the order in abeyance for a week to enable them to file an appeal before the division Bench of the court.
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
Apart from shell companies, 'vanishing' companies are also on the ministry's radar. As many as 400 companies are not traceable, despite being listed on the bourses.
Discontent has been brewing among a section of the cabin crew at the low-cost carrier for some time now, especially after the start of the process of merger of AIX Connect, formerly AirAsia India, with itself.
Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company's vendors and the government. This would account for around 12 per cent of Apple's global iPhone production-higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third year of the PLI (production-linked incentive) scheme.
Former Maharashtra minister and Shiv Sena-Uddhav Balasaheb Thackeray leader Aaditya Thackeray on Monday claimed nearly '50 people', including 'some middlemen' and personal assistants, will be part of the delegation that will travel with Chief Minister Eknath Shinde for the World Economic Forum (WEF) gathering in Davos, Switzerland.
The Supreme Court on Thursday directed the Union ministry of home affairs to provide two additional companies of the Central Armed Police Forces to secure every polling booth during the Tripura municipal polls.
Minister of State for External Affairs Rajkumar Ranjan Singh, who welcomed the Indian citizens at the Delhi airport, said that this is the second phase and they are trying to facilitate those who are willing to come back to India.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
The Companies Bill 2009, which will replace a half-a-century old Act, is expected to be brought before Parliament for consideration and passage in the ongoing Budget session.
The Enforcement Directorate has arrested four persons including the MD of the Lava International mobile company and a Chinese national as part of its ongoing money-laundering probe against Chinese smartphone-maker Vivo, official sources said on Tuesday. They identified the four as Hari Om Rai, the MD of Lava International company, Chinese national Guangwen Kyang, chartered accountant Nitin Garg and a person called Rajan Malik. They have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA).
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
A key feature of the new version is to identify the people transacting on its portal by linking each user ID with the person's permanent account number (PAN), followed by a two-factor authentication through mobiles and email IDs. Those who cannot complete the KYC requirements cannot use the portal.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
The government on Monday said it proposes to incentivise incorporation of one person companies, a move that will benefit startups and innovators.
The Supreme Court has sought responses of the Centre, CBI, the Enforcement Directorate and others including 13 states on a plea alleging fraudulent activities by motivational speaker Vivek Bindra and his firm Bada Business Pvt Ltd. Accusing the social media influencer and his firm of tricking people into giving them their money through a ponzi scheme that promised big returns, the petition sought a direction to the Centre to constitute a special investigation team (SIT) of the CBI to probe the case. A bench comprising MM Sundresh and SVN Bhatti took note of the submissions of senior advocate Vikas Singh, appearing for Shubham Chaudhary and 19 other petitioners, that Bindra and his firm have duped several people of their money.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
External Affairs Minister S Jaishankar on Wednesday took a critical view of some of the key decisions made by the Jawaharlal Nehru government, and said one needs to get out of this "cult worship" that the period from 1946 onwards was "great years" and the country did "splendidly".
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
Indian companies are required to hold AGMs within six months of closure of the financial year.
An appeal has already been filed against the death sentence and a higher court in Qatar has already admitted the plea.
A Qatari court has accepted the appeal document on the sentencing of eight former Indian naval personnel to death, sources familiar with the matter said.
'However, to establish a quid pro quo, one can potentially see several things, like whether they got any benefits from the party that they gave money to. That is something that people (of India) will gauge. But to finally establish that there was money paid as consideration, it would require an investigation, a proper investigation, to be able to come up with such conclusions.'
China on Monday dismissed the existence of a 'median line' in the volatile Taiwan Strait after Taiwan's defence ministry said it detected a record 103 Chinese warplanes flying around the self-ruled island in a 24-hour period.
Wielding a broom, the prime minister took part in the drive along with fitness influencer Ankit Baiyanpuriya.
'In real estate project insolvency, no one size can fit all.'
The new web form would facilitate on-screen filing and real time data validation for seamless incorporation.
With 26 companies, state tops list of vanishing companies in the country.
Benches of the National Company Law Tribunal (NCLT) should not get into questioning a company's default once it is established by the creditors, particularly financial creditors, for admission to the corporate insolvency process. This is one of the key themes of the draft guidelines for the NCLT, which are being finalised by the Ministry of Corporate Affairs (MCA), a senior official said. According to the official, while the company law matters could involve the "principle of natural justice" and justify extended proceedings to hear all parties concerned, the same does not apply to the Insolvency and Bankruptcy Code (IBC) proceedings.
Companies will have to follow all requirements laid out under rules for holding board meetings via video conferencing such as recording of these proceedings, ensuring availability of proper equipment among others.
'Considering Pai is putting his own personal money in Byju's, stakeholders in the company can look forward to more governance and transparency.'
The Corporate affairs ministry has notified that henceforth political parties will not be eligible for CSR funding.
The government is keeping a "close watch" on the developments relating to the Tata-Mistry case, but does not want to "interfere" at present as it was an "internal matter" of a private group, Ministry of State for Corporate Affairs Arjun Ram Meghwal has said.
Infosys would take over the programme from its rival Tata Consultancy Services.
Apple Inc may have the best to offer in the near term.
Qatar has released eight jailed former Indian Navy personnel and seven of them returned home early Monday, 46 days after their death sentences handed last October were commuted to jail terms of varying duration.
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