US-based outsourcing firm iGate on Wednesday said its net profit declined 89.6 per cent to $3.1 million for the quarter ended June 30, 2014 hit by a one-time charge related to a debt settlement.
Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
The proscribed organisations will be examined under heightened security checks at all layers of legal, administrative, investigative and financial regimes, the Dawn newspaper reported.
Aircraft manufacturer Embraer has agreed to pay over $205 million (over Rs 1,371 crore) as settlement with American and Brazalian authorities for resolving corruption charges in India and three other countries.
Officials said gunshots were heard as the joint search parties of the Army and the police resumed the operation in Poonch's Mendhar area. However, it was not immediately clear whether it was speculative firing by the search parties or fresh contact was established with the terrorists, they said.
At the minimum price of $16.50 a share, the BPO giant would buy back at most 1.82 bn shares, or about eight per cent of its outstanding common shares as of February 28.
'Where is the board's accountability in this whole transaction? The members of the earlier board who participated in approving and defending these acquisition are still in the current board,' the whistleblower said in a mail sent to US SEC and Sebi.
At least one person was killed and 12 others injured on Tuesday when the police opened fire to disperse angry anti-government protestors in Sri Lanka's southwestern region of Rambukkana, officials said.
The payouts were 22 per cent lower than the previous year's tally of Rs 7,938 crore.
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
US mutual funds Valic Co 1 and Fidelity Rutland Square Trust II, which have minority stake in Flipkart, have marked down the value of their stocks in the company
Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
The President had been moved out of his residence on Friday, in anticipation of Saturday's protests.
Facing black money investigations in India and several other countries, global banking giant HSBC on Monday said it is also being probed in the US for hiring candidates related to government officials in Asia Pacific.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
Online auto classified platform CarTrade Tech on Tuesday said it fixed a price band of Rs 1,585-1,618 a share for its nearly Rs 2,999-crore initial public offer. The initial public offering (IPO) will open for subscription on August 9 and conclude on August 11. The bidding for anchor investors will open on August 6, the company announced. The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares.
Embraer cannot escape Indian laws just because it has struck a settlement with American authorities, Parrikar said.
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
XTI Aircraft, a Denver, Colorado-based aerospace startup firm, launched an equity crowdfunding campaign.
Armed with fresh powers to conduct search and seizure operations and attach properties and bank accounts, the Securities and Exchange Board of India (Sebi) is going all out to use these effectively.
The company has pointed at the possibility of fines and financial penalties.
A full panel of the 2nd US Circuit Court of Appeals yesterday denied Gupta's petition for 'panel rehearing, or, in the alternative, for rehearing en banc'.
As Prime Minister Narendra Modi embarks on a tour of three European nations, India on Sunday once again called for the cessation of hostilities in Ukraine and resolution of the conflict through dialogue and diplomacy, noting that was an appreciation of its position on the crisis by its partner countries.
India and China on Tuesday agreed to "jointly deal with security threats" and take measures to strengthen cooperation in combating terrorism during their first dialogue on counter-terrorism and security in Beijing, amid Indo-Pak tensions following the Uri terror attack.
Formal warning to Indian unit of deficiencies noted during inspection at facility near Chennai; firm says will remedy
In September 2013, FMC was brought under the Finance Ministry.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
The wet market was where a variety of live animals were traded until it was shut down following fears that the coronavirus had jumped to humans either from bats or pangolins.
Let's look at 10 well-known nations that have GDP less than the price Facebook paid for the chat service.
A veteran journalist working for Al Jazeera was killed on Wednesday during an Israeli operation in the West Bank city of Jenin, prompting the Palestinian Authority (PA) and the Qatar-based network to blame the Israeli Army for her death.
India is among 75 countries with which Switzerland's Federal Tax Administration has exchanged information on financial accounts within the framework of global standards on Automatic Exchange of Information.
A bench headed by Chief Justice P Sathasivam said the issues raised in the plea need 'examination' and issued notice to the Centre, RBI, Central Board of Direct Taxes, the Institute of Chartered Accountants of India, PwC and the audit firms sharing its brand name.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
Typically, CCI takes decisions related to M&As within 30 days, though it can do so within 210 days of the filing of application.
A Sri Lankan court on Tuesday ordered the release of 56 Indian fishermen who were detained for allegedly fishing in the island nation's territorial waters.
Every move that strengthens Cyrus Mistry's position in companies like Indian Hotels could prolong the uncertainty.
The regulator has asked portfolio managers not to leverage the portfolio of clients for investment in derivatives and not indulge in speculative transactions that are not accompanied by actual delivery, except for derivatives trades. This is done with the intention of reducing volatility in the market and curbing undue risks.
