With 26 companies, state tops list of vanishing companies in the country.
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 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.
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).
The new web form would facilitate on-screen filing and real time data validation for seamless incorporation.
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.
The Corporate affairs ministry has notified that henceforth political parties will not be eligible for CSR funding.
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.
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.
Infosys would take over the programme from its rival Tata Consultancy Services.
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.
Apple Inc may have the best to offer in the near term.
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.
Kalanithi Maran-run Sun TV's DTH application appears to have run into rough weather with the Company Affairs Ministry finding the proposal not in conformity with the stipulated guidelines.
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The National Spot Exchange Ltd, promoted by Jignesh Shah-led Financial Technologies, is facing a Rs 5,600-crore (Rs 56-billion) settlement crisis.
The Finance Ministry is evaluating options of conducting a special audit of scam-tainted IT firm Satyam Computer's accounts to ascertain the company's tax liability.
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.
Sebi has now proposed that the Companies Act should also clearly mention that a person should vacate the office of a director if it orders his or her disqualification.
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
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.
An appeal has already been filed against the death sentence and a higher court in Qatar has already admitted the plea.
The quarterly reports filed by listed companies with the Securities and Exchange Board of India can be obtained and scrutinised by the ministry to find out discrepancies and take appropriate actions, sources said. Since the disclosure of the Satyam scam, the ministry of corporate affairs has been trying to develop an early warning system so that it can take advance action to prevent large-scale corporate frauds.
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.
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.
'In real estate project insolvency, no one size can fit all.'
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
Wielding a broom, the prime minister took part in the drive along with fitness influencer Ankit Baiyanpuriya.
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".
The Ministry of Corporate Affairs ordered the inspection of the books of accounts of NSEL and Financial Technologies India Ltd to ascertain if any rules under the Companies Act were violated, a senior official said.
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.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
'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.'
The PE biggie has committed to pumping money into Jio Platforms, Byju's and Reliance Retail so far this year - all marquee names in their respective sectors.
SFIO, the investigation arm of the Corporate Affairs Ministry, has been ordered to probe alleged fraud in 83 companies in the last four years, Parliament was informed on Thursday.
After Ministry of Corporate Affairs, the Income Tax department too has launched a probe to trace the source of funding of various firms that invested in Bharatiya Janata Party president Nitin Gadkari's company Purti Power and Sugar Limited.
'Considering Pai is putting his own personal money in Byju's, stakeholders in the company can look forward to more governance and transparency.'
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
Maharashtra and Delhi lead the pack of states in terms of absolute number, with 142,425 and 125,937 closed companies, respectively.
The CBI, in its FIR, alleged that Mayaram, the UK-based company De La Rue International Ltd and unidentified officials of the finance ministry and RBI hatched a criminal conspiracy to extend undue favour to the firm.
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