The Supreme Court on Monday sought response from the CBI on a bail plea filed by former DHFL promoter Kapil Wadhawan in an alleged Rs 34,926 crore bank fraud case. A bench of Justices JK Maheshwari and Vijay Bishnoi issued notice to the agency and sought its response.
The All India Insurance Employees' Association has opposed the government directive seeking to open up top posts in the state-owned insurers to the private sector, saying this would lead to greater private influence and "eventual privatisation".
The rationalisation of goods and services tax (GST), announced on Wednesday, directly lowers the cost of everyday medical consumables, and also high-end therapies in oncology and rare diseases, helping reduce out-of-pocket patient expenditure and better adherence to medication.
The Supreme Court has dismissed the bail plea of jailed former CMD of Amrapali Group of Companies Anil Kumar Sharma, saying he doesn't deserve "sympathy" after having siphoned off the hard-earned money and life savings of thousands of homebuyers. "You have cheated thousands of homebuyers. You siphoned off their hard-earned money and their life savings. You do not deserve any sympathy," a bench comprising Justices Ajay Rastogi and Bela M Trivedi said, and refused to issue notice to the prosecuting agency on the bail plea of Sharma who has been in jail for over four years in the case. "Yours is not a case of simple cheating. See the plight of thousands of home buyers. You cannot have our sympathy. You better enjoy being in jail... This court is very aware of what you did.
Arvind Jadhav, a senior IAS officer and the current CMD of Air India, was sent back to parent Karnataka cadre.
Rediff.com, one of India's pioneering internet companies, on Tuesday announced the appointment of Mr Vishal Mehta as its new Chairman and Managing Director. This key leadership change follows Infibeam Avenues Ltd's acquisition of a majority stake in Rediff.com.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
The Enforcement Directorate on Friday alleged that Hero MotoCorp executive chairperson Pawan Kant Munjal used foreign currency issued in the name of others for his personal expenditure abroad to "override" RBI rules and attached his assets worth Rs 24.95 crore as part of a money laundering investigation. Three immovable properties (in the form of lands) of Munjal located in Delhi have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA), the central agency said in a statement.
Proxy advisory firm IiAS has recommended that institutional investors should vote against the appointment of Anant Ambani on Reliance Industries Ltd's (RIL's) board, citing his age as the reason. The firm has, however, given its green light to the appointment of Anant's elder siblings - Akash and Isha. In its recommendation note, IiAS said, "At 28 years of age, his appointment as a non-executive, non-independent director does not align with our voting guidelines."
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
Vasudeva, 57, is currently director (offshore) in ONGC.
A day after V R S Natarajan was suspended, BEML on Tuesday said its senior-most director P Dwarakanath has been given the additional charge as its chairman and managing director. Informing the Bombay Stock Exchange of the decision, it said Dwarakanath, BEML director of Metro and Rail Business, was given additional charge as the Chairman and MD, after the government suspended Natarajan following a CBI recommendation against him in the Tatra truck purchase deal case.
India is in a much better position to deal with the challenges related to growth and inflation, said Sanjiv Bajaj, president of industry body CII. According to official figures, India's retail inflation continues to remain above the Reserve Bank's tolerance level of 6 per cent since January, while the economic growth in the first quarter of the fiscal was 13.5 per cent, lower than the central bank's estimate of 16.2 per cent. "I don't want to say we don't have our own challenges with growth, with inflation but we are in a much better position and credit must go to everybody including the central and state governments.
The Income Tax department Wednesday conducted searches at the premises of Bengaluru-based pharmaceutical company Micro Labs Ltd, the manufacturers of Dolo-650 tablet that was widely used by COVID-19 patients during the last over two years, on charges of alleged tax evasion. Officials said the department is looking at financial documents, balance sheets and business distributor networks of the company as part of the searches. The PTI has sent queries on the action to the company and a response is awaited.
At a meeting held in Mumbai on Monday, the board of NSE decided that Ramkrishna, currently Joint managing director of the bourse, will take charge as MD and CEO with effect from April 1, 2013 for five years.
The CBI has closed a case against former Air India CMD Arvind Jadhav and others over alleged corruption in the appointments of general managers after the central government refused to grant its sanction to prosecute him, officials said. The agency had booked Jadhav, then general manager L P Nakhwa (now retired), and then additional general managers A Kathpalia, Amitabh Singh and Rohit Bhasin after a year-long preliminary enquiry, they said. It was alleged that Jadhav had constituted illegal/irregular promotion panel to recommend suitable candidates for promotion to the post of general manager (operations), they said.
In a good news for the hassled home buyers of Amrapali Group, the Supreme Court on Friday was informed that 11,858 flats will be delivered in 2 to 3 months of which 5, 428 units will be handed over the possession in October. A bench of Chief Justice UU Lalit and Justice Bela M Trivedi was informed by court receiver senior advocate R Venkataramani that in the upcoming festive season next month 5,428 flats which have been completed by the NBCC will be given to the home buyers with electricity and water connection. "We are facing some issues in providing electricity and water connections to the other 6,430 completed flats and once the connections are provided and they receive completion certificates, these units will be handed over to the home buyers in the next two to three months", he said.
The Air India board met on Monday afternoon to consider the candidature of Ilker Ayci and after due deliberations approved the appointment of Ayci as the CEO & MD of Air India, Tata Sons said in a statement.
The Air India board met on Monday afternoon to consider the candidature of Ilker Ayci and after due deliberations approved the appointment of Ayci as the CEO & MD of Air India, Tata Sons said in a statement.
The Supreme Court on Wednesday dismissed the plea for interim bail of former Fortis Healthcare promoter Shivinder Mohan Singh who along with others is accused of misappropriating Rs 2,397 crore of Religare Finvest Ltd (RFL) funds. Singh had sought interim bail for a short period on "humanitarian grounds" for helping his ailing mother to take part in the last rituals of his maternal uncle, who died on March 8 in Haryana. "We are of the opinion that the presence of the accused was not a must...," said a bench of Justices M R Shah and B V Nagarathna while dismissing the plea.
Alka Mittal has been appointed interim chairman and managing director of Oil and Natural Gas Corporation (ONGC) - the first woman to head the country's largest oil and gas producer. Mittal replaces Subhash Kumar, another interim head who retired after reaching superannuation age on December 31. "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Ministry of Petroleum and Natural Gas for entrustment of additional charge of the post of chairman and managing director (CMD), ONGC to Alka Mittal, director (HR), ONGC for a period of six months with effect from January 1, 2022, or till the appointment of a regular incumbent to the post, or until further order, whichever is the earliest," the Department of Personnel and Training (DoPT) said in an order dated January 3, 2022.
Malvinder is accused of laundering money, punishable under sections 3 and 4 of the Prevention of Money Laundering Act.
The Enforcement Directorate (ED) on Thursday arrested former Fortis Healthcare promoter Shivinder Mohan Singh in a money laundering case related to the alleged misappropriation of funds at Religare Finvest. A team of ED officials went to Tihar Jail and placed Singh under arrest as per the provisions of the Prevention of Money Laundering Act.
A 1985-batch Karnataka cadre officer, Kharola would be steering the national airline at a time when the government has started the process for its strategic divestment.
He was asked to wait but he reportedly left after some time on the pretext of going to the washroom, officials alleged.
Kirloskar Brothers Ltd (KBL), led by Sanjay Kirloskar, on Tuesday accused four firms under his brothers Atul and Rahul of trying to "usurp" its legacy of 130 years and trying to mislead the public, which has been refuted by the other side. As the family feud simmers, KBL in a letter to capital markets regulator Sebi claimed that recent press releases by Kirloskar Oil Engines Ltd (KOEL), Kirloskar Industries Ltd (KIL), Kirloskar Pneumatic Company Ltd (KPCL) and Kirloskar Ferrous Industries Ltd (KFIL) "have sought to usurp the legacy" of KBL. Also, they attempted to pass off the legacy and track record of KBL as that of their own, the letter said.
Rohit Nandan will continue to work as Chairman and Managing Director (CMD) of national carrier Air India for one month or till Ashwani Lohani takes over from him.
He also assured the kin of victims that steps would be taken to get them compensation in line with an international convention of International Civil Aviation Organisation (ICAO). Taking stock of the crash of the Dubai-Kozhikode AIE flight in Kozhikode and the relief measures, the minister said pilot in-command of the plane, Captain Deepak Vasant Sathe, among those killed in the accident, was one of the most experienced commanders with more than 10,000 flying hours.
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The newly appointed CMD at Coal India has a tough road ahead.
Both Allahabad Bank and Canara Bank are in the race to acquire United Western Bank, UWB. C Mahajan, CMD of Allahabad Bank and MBN Rao, CMD of Canara Bank extrapolate on the benefits of taking over UWB. \n\n
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
United Bank of India has already declared Kingfisher a wilful defaulter while State Bank of India, Punjab National Bank and IDBI have initiated such a move.
If the idea of LWP scheme is to only weed out around 600 employees and subsequently save the carrier Rs 10 crore a month, the management could have easily laid off the retired employees, who had an advantage over others by dint of having 'connections' internally and in the corridors of the ministry of civil aviation, say Air India staff.
CVC K V Chowdary and Vigilance Commissioner T M Bhasin completed their tenure at the anti-graft body on Sunday and Monday respectively.
It further asked the government to make suitable arrangements for smooth functioning of the bank.
M Gopalakrishnan and two others are sentenced to one-year imprisonment for causing wrongful loss of Rs 3 crore to the bank.
Activist Subhash Chandra Agarwal had appealed to the CIC saying that the government had not provided "any information on the ground that the desired records constituted Cabinet papers and therefore could not be disclosed."
A team of over 200 people worked round the clock as INSTACON, the much talked about building constructed in Mohali, met its 48-hour deadline on Saturday to enter into record books as the fastest completed such building in India.
The air hostess compared the executive with the Hollywood film maker charged with sexual misconduct by leading actresses.
Under the deal, Russia will provide design, technology know how and key materials to GSL for construction of the ships in India.
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