It is 25 years since Captain Sanjit Bhattacharjee went missing during a patrol on the India Pakistan border. Pakistan has never acknowledged his captivity.
The Home Ministry has conveyed to the Department of Economic Affairs (DEA) that it has not given security clearance to the Abu Dhabi-based Etihad Airways' proposal to buy a 24 per cent stake in Jet Airways.
Probable reasons that led to failure of the sale process include 24 per cent government stake and corresponding rights, high debt, volatile crude oil prices, fluctuations in exchange rate, changes in macro environment, profitability track record of bidders and restriction on bidding by individuals.
Court order follows submission of govt lawyers that Serious Fraud Investigation Office was probing a case of misappropriation of fund by Jet Airways and Goyal.
Delhi chief minister Arvind Kejriwal reacted strongly to the development claiming the case was registered against Jain as he was working for the regularisation of city's unauthorised colonies.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
A senior official said CBDT has inputs that a number of these companies possibly indulged in tax crimes and once this is established, the department will initiate action against them for indulging in money laundering and tax evasion.
Ministries seek more discussions, Cabinet defers decision.
The Indians, including 39 construction workers abducted by the Islamic State militants over two months ago in conflict-hit Mosul town of Iraq, are "unharmed", external affairs ministry said on Thursday.
Delhi has come to accept the Taliban takeover in Kabul as a reality and seems increasingly unsure of its dogmatic view of the Taliban as a mere proxy of the Pakistani military and security establishment, observes Ambassador M K Bhadrakumar.
Corporate ministry documents show that the Siva's firm kept taking loans from public sector banks like State Bank of India, Punjab National Bank which gradually turned to bad loans.
However, the Indian capital markets regulator rejected the claim saying it neither received any such request, nor provided any such information to the concerned department in Antigua.
Ministry of corporate affairs directs Registrar of Companies to conduct quarterly scrutiny
The entities are classified as 'vanishing companies' if they cease to file their balance sheets and other documents after raising capital and the whereabouts of their offices or directors become untraceable.
Over the years, a noticeable unpleasantness began to develop between senior and junior, Sorabjee and Salve. Salve gave credit, for his rise in the profession, to Nani Palkhivala, and not to Sorabjee. This hurt Sorabjee, though he never admitted it.
The government on Monday asked the investors planning to invest their money in Initial Public Offerings (IPOs) to check with the Ministry of Corporate Affairs on issues like the promoters' track record and regulatory compliances.
In a filing on March 18, 2012, Wave Industries, a key Chadhaa group company that controls its sugar and distilleries businesses, said Hardeep had vacated the office of director under Section 283.
The corporate affairs ministry has mooted the idea.
ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
Corporate affairs ministry sending notices seeking details of fund disbursal
To address the shortage of COVID-19 jabs in the country, the government is exploring the possibility of boosting production of vaccines, including identifying manufacturing sites for indigenously developed Covaxin outside India, sources said.
On Tuesday, Pompeo and Esper will hold the 2+2 talks with External Affairs Minister S Jaishankar and Defence Minister Rajnath Singh, covering the entire expanse of defence and security ties as well as key regional and global issues.
A committee suggested that CSR expenditure be made tax deductible, in order to incentivise spending by companies. It also said that CSR should not be used as a means of resource-gap funding for government schemes.
Several private hospitals across the country said they have no clarity on procuring COVID-19 vaccines under the new policy announced by Prime Minister Narendra Modi and that it has led to the vaccination being put on hold at their centres.
The 15 proposals were cleared following recommendations by Foreign Investment Promotion Board.
Independent directors of Satyam were not involved in the multi-crore accounting fraud in the IT company and were kept in the dark by founder-chairman B Ramalinga Raju, the Serious Fraud Investigation Office has concluded.
The government is proposing to ban distribution of gifts and food coupons at the Annual General Meetings of companies, as these activities distract shareholders from serious business.
Rajyavardhan Singh Rathore has shot off a letter to the Lok Sabha Speaker against Shashi Tharoor for speaking in public about his intention to summon Facebook officials without discussing the matter first in the parliamentary committee the Congress leader heads.
There is more than what meets the eye to the wealth accumulated by Punjab Deputy Chief Minister Sukhbir Singh Badal.
All existing instruments in e-form by September 30; move to affect 200,000 companies
The Ministry of Corporate Affairs has decided to relax the norms for companies to maintain minimum paid-up capital. According to the Companies Act 1956, the minimum paid-up capital for a private company is Rs 1 lakh and for a listed company Rs 5 lakh.
Currently, most crowdfunding platforms neither operate with proper authorisation nor are governed under any law.
'We will see footfall returning to pre-COVID levels by January.'
The crisis-hit NSEL is promoted by Jignesh Shah-led Financial Technologies (India) Ltd.
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore under the approved resolution plan. The National Company Law Tribunal (NCLT) on June 22, approved the consortium's resolution plan for Jet Airways, which has been undergoing insolvency resolution process since June 2019. The carrier shuttered operations in April 2019.
Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
MAG was constituted by Department of Electronics and IT in February 2014.
