Amid a political furore over a meltdown in the Adani group shares, stock market data shows it is not only the plunge now but the sharp surge of the past also drew regulatory attention and enhanced surveillance. Adani group stocks have taken a huge beating on the bourses, losing billions of dollars in market value, after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
The ambitious cargo hub project proposed to be set up near Nagpur has run into rough weather.
Situated in a special economic zone in Noida, HCL Technology's upcoming campus is spread across 46 acres of land. The half-constructed new HCL tech-hub provides a picture of the grandeur that is to follow as the campus is scheduled to be completed in the next five years.
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore. E-invoicing provides real-time access to invoices that are prepared by the supplier on the purchase of goods, allowing faster accessibility to input tax credit, thereby limiting the manipulation of fake credit as it has to be generated before the transaction. "The default has been reported mainly in businesses with a turnover between Rs 5 crore and Rs 20 crore," a senior official informed
According to NASSCOM and McKenzie, it is projected that Indian IT sector will need around nine million employees and currently it has only 3.2 million, he informed.
'We don't believe in the BJP. But the Congress has no main leader who is credible.'
Mumbai-based real estate developer, Royal Palms, is developing Mumbai's first Gem & Jewellery Special Economic Zones on a private land at an expenditure of Rs 400 crore.
Country's largest gold importer MMTC Ltd has decided to join the SEZ bandwagon by setting up a gems and jewellery park in joint venture with a private player in the tax-free enclave.
After the 1,200-acre special economic zone at Noida and the Anil Dhirubhai Ambani Group's gas-based power plant at Dadri, Lanco Kundapalli's 1,000-Mw Anpara C power project in Sonebhadra district of Uttar Pradesh has come under the scanner
Ahlstrom, a global market leader in high performance fibre-based materials, has signed an MoU with Mundra Port and special economic zone of the Ahmedabad-based Adani group for 50,500 Sq Mtrs area in the Textile and Apparel Park.
New applicants for Special Economic Zones (SEZ) would have to wait for up to a year before their cases are considered by the Board of Approvals (BoA).
On April 5, the Empowered Group of Ministers put a cap on size for SEZ to 5,000 hectares after land acquisition in Nandigram, West Bengal turned violent killing 14 persons in police firing.
The Indian government is open to making changes in 5,000-hectare land ceiling for Special Economic Zones which was decided at the meeting of Empowered Group of Ministers about two weeks back.
The government has approved a Rs 675 crore (Rs 6.75 Special Economic Zone by Finnish telecom major Nokia near Chennai.
Karnataka has received in principle approval from the Centre for setting up a special economic zone across its three coastal districts.
The Centre is contemplating to create Special Economic Zones for various service sectors in different parts of the country, Union Minister for Commerce and Industry Arun Jaitley said in Kolkata on Tuesday.
Narendra Modi is no reformist, but here's how he could yet change the path India's economy.
The Centre has garnered around Rs 2,500-3,000 crore in the first five weeks after it imposed a windfall tax on oil and gas companies for the export of fuel, Business Standard has learnt. It is likely that the government will continue with the one-time tax till the Indian crude basket is above $80 a barrel, sources said. The next review of the windfall tax on oil companies is early next week.
By a rough estimate, the company will have to pay Rs 3,750 crore for land acquisition.
While the manufacturing facility would be located in the Jawahar Pharma City, a pharma special economic zone near Visakhapatnam, the R&D facility would be set up in the phase 3 biotech park near Hyderabad.
Bihar Chief Minister Nitish Kumar on Monday said the Prime Minister should convene an all-party meet to discuss the merits and demerits of SEZs.
Orient Craft Ltd, one of India's largest garment and apparel exporters, plans to to raise between Rs 250-350 crore (Rs 2.5-3.5 billion) from the capital markets in the first half of 2007, to fund its proposed expansion drive.
Billionaire Gautam Adani's group on Monday said it has written confirmation that accounts of three foreign funds that are among its top shareholders are not frozen and reports to the contrary are "blatantly erroneous and misleading". Shares of Adani group companies plunged on Monday after reports that the National Securities Depository Ltd (NSDL) froze the accounts of the three foreign funds that are among the top stakeholders in the firms. Adani Enterprises, the conglomerate's flagship company, as also Adani Ports and Special Economic Zone, Adani Green Energy Ltd, Adani Transmission Ltd, Adani Power and Adani Total Gas Ltd in identical filings to the stock exchanges said the reports of NSDL freezing accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in the group firms were "blatantly erroneous and is done to deliberately mislead the investing community."
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