Actor Shahrukh Khan and his wife Gauri, who promote IPL franchise Kolkata Kinght Riders, and Jaipur IPL Cricket that promotes Rajasthan Royals have been issued show-cause notices for alleged violation of the Companies Act.
The move is aimed at making it easier to do business in India.
Ahead of the Budget, the government has achieved almost half the divestment target of Rs 65,000 crore. FY23 divestment receipts are unlikely to be anywhere close to the budgeted target.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
In a multi-city protest on Monday, a large number of company secretaries (CS) and chartered accountants (CAs) came together to seek extension of the deadline for annual filing due to glitches in the ministry of corporate affairs (MCA) portal. According to the Companies Act, firms are supposed to submit Form AOC 4 for filing of the balance sheet within 30 days of holding the annual general meeting (AGM). This deadline was over on October 29.
The South Korean foreign minister on Tuesday 'regretted the offence' caused to the people and government of India by the social media post on the so-called Kashmir solidarity day by the Hyundai Pakistan, a day after New Delhi summoned the RoK envoy to express 'strong displeasure' over the 'unacceptable' post.
Bangladesh has sought revision of a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive, officials said in Dhaka on Thursday. "We have communicated with the Indian company seeking revision of the agreement," an official of the state-run Bangladesh Power Development Board (BPDC) told PTI on the condition of anonymity and without elaborating on the matter. Media reports suggested that the "high coal price" to be purchased for the Adani plant at India's Jharkhand emerged as the key factor for the dispute.
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
The companies wanting to re-list on the bourses through a fresh public issue may have to submit a special corporate
'With the current situation in the global job market, students come back with an added burden of educational loans.'
It makes it mandatory for companies to spend on social welfare and seeks to bring in greater transparency.
'In their part, the Chinese Foreign ministry maintained that there was no connection between the company concerned and the Chinese government,' he also said.
The government is looking to review the guidelines governing executive pay practices at the companies to bring them in tune with the changing times in terms of the economic advances in the country.
Mallya and his group firms are already facing a probe by Enforcement Directorate for alleged diversion of loans taken by long-grounded Kingfisher Airlines
The National Company Law Tribunal (NCLT) has directed to freeze and attach assets and properties of Videocon promoters following a petition by the ministry of corporate affairs. The NCLT Mumbai bench has directed the Central Depository Services Ltd (CDSL) and National Securities Depository Ltd (NSDL) that securities owned or held by the Videocon promoters "in any company or society be frozen, and be prohibited from being transferred or alienation" and the details be shared with the Ministry of Corporate Affairs (MCA). It directed the Central Board of Direct Taxes (CBDT) to disclose information about all assets of the Videocon promoters in their knowledge or possession, for the purpose of freezing and restraining such assets.
The Centre has refused to share copies of reports sent to it by the Uttar Pradesh governor and the government on Muzaffarnagar communal violence, saying it would impede probe, apprehension and prosecution of offenders.
The Union government on Tuesday said it has issued 202 notices to e-commerce players for incorrect declaration of 'country of origin' on products on their platforms in the last one year. The maximum number of such violations were found with respect to electronic appliances, followed by clothing and home products. Out of 217 notices, 202 notices were issued for violations relating to 'country of origin' norm.
26 chartered accountants associated with such shell companies have also been identified
Reiterating that the July 31 deadline for the completion of NRC exercise will not be extended, a bench headed by Chief Justice Ranjan Gogoi said the Centre is not cooperating in the NRC process and it seems the entire effort of the MHA is to destroy the NRC process.
Her corporate footprint is fading fast.
The ministry of company affairs (MCA) intends to insert a clause in the Companies Act that will make audit firms also liable to prosecution as against the existing provisions that limits penal action only to chartered accountants.
With his face crushed beyond recognition, Gaud was identified with a tattoo of the word 'Om' on one of his hands, his family said quoting Indian embassy officials.
The Russian embassy has taken up with the ministry of external affairs (MEA) the detention of a Russian cargo ship in Cochin port and requested for an "explanation" of the circumstances of the incident.
The ban has been in force since last Friday.
In order to check the ever-increasing cases in consumer courts, the government is toying with the idea of making it mandatory for all companies to have consumer grievance redressal systems in place.
The Ministry of Company Affairs (MCA) has sent notices to all Indian Premier League franchisees, both old and new, asking them to furnish detailed company-related information.
Joint audits and inspections by the ICAI/DCA are critical if the system has to work.
"Over 50 files were created on Swamy's hard drive, including incriminating documents that fabricated links between him and the Maoist insurgency," the report said.
To ramp up domestic battery manufacturing capacity and reduce the dependence on imports, the government has initiated talks with a few lithium-rich countries to supply the mineral to Indian companies, industry sources informed Business Standard. The Ministry of External Affairs (MEA) held a meeting with the ambassadors of countries, including Argentina, Chile, and Bolivia, among others, to put forth its request.
The ministry of corporate affairs has clarified that companies whose annual general meetings are due in 2021 have to conduct them within the specified time limit and video conferencing is allowed till June 30,2022. MCA has said that its circular should not be construed as conferring any extension of time for holding annual general meetings by the companies under the Companies Act, 2013. "Companies which have not adhered to the timelines shall be liable to legal action under the appropriate provisions of the Act," MCA said. In September, MCA had allowed a two-month extension to the deadline for companies to hold their annual general meeting for the financial year ending March 31, 2021.
Edtech giant Byju's is set to lay off nearly 2,500, or 5 per cent, of its employees as part of an "optimisation" plan. The move by India's most valuable start-up comes amid a funding winter and steep losses. "To avoid redundancies and duplication of roles, and by leveraging technology better, around 5 per cent of Byju's 50,000-strong workforce is expected to be rationalised across product, content, media, and technology teams in a phased manner," said the company in a statement. In June, Byju's laid off about 600 employees at its group companies -WhiteHat Jr and Toppr.
The meeting is believed to be called to chalk out the strategy of the Opposition in Rajya Sabha on Monday.
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