The auditor of ABG Shipyard, which is being probed by the Central Bureau of Investigation (CBI) for the Rs 23,000-crore default to banks, had settled an investigation by the Securities and Exchange Board of India (Sebi) by paying a small settlement fee in 2019. The regulator had initiated an investigation into the fund diversion from ABG Shipyard and had asked the auditor to explain why it failed to detect fund diversion in time. In his settlement application, auditor MN Ahmed, partner of Nisar & Kumar, a chartered accountant firm, said he ceased to be an Indian citizen and has retired from the profession.
V-Mart, Manaksia, Whirlpool Global and few other companies posted better third-quarter results.
Digital canvassing is expected to benefit from political money looking for alternative blow horns.
'There has to be an 18-month transition.' 'But if the government had some prior knowledge that the high value notes were being used for an imminent terrorist activity in the country, then we have to accept the step.'
Soccer's governing body FIFA has agreed to ban the third-party ownership (TPO) of players, its president Sepp Blatter said on Friday, seven years after first promising to outlaw the practice.
Even though PUBG Corporation is a South Korean company with its headquarters in Seoul, Tencent Gaming, a subsidiary of Chinese investment and technology giant Tencent, holds the global franchise for the mobile version of the game.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Presenting a list of words from 2015 that we should leave behind.
Sebi, however, allowed wilful defaulters to make counter-offers to avoid hostile takeovers
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
The auditors -- the local arms of the Big Four global firms Deloitte Haskins & Sells and KPMG which has BSR & Associates as an affiliate here-had challenged the jurisdiction of the NCLT to ban them.
Looking to regain lost ground in the credit cards segment, HDFC Bank on Monday announced a tie-up with leading payments company Paytm to start selling co-branded plastics before the onset of the festive season. The credit cards will be powered by Visa and will include offerings targeted at millennials, business owners and merchants, an official statement said. Paytm has a reach of over 330 million consumers and 21 million merchants, while HDFC Bank has over 5 million debit, credit and prepaid cards, and serves 2 million merchants through its offerings.
According to industry sources, domestic toy manufacturers are seeing a sharp rise in sales during the current financial year. On January 1, 2021, India had banned the sale of toys that are not certified by the Bureau of Indian Standards (BIS). This meant that all factories churning out toys to be sold in India had to be certified by the bureau along with mandatory product testing, including for units abroad.
Dubai-based billionaire BR Shetty has sued Bank of Baroda (BoB) and audit firm Ernst & Young (EY) in a New York court, accusing them of ignoring fictitious and fraudulent transactions that resulted in NMC Healthcare going bankrupt. Shetty is seeking $8 billion in damages in the suit that also names the top management of NMC Healthcare, and Netherlands-based Credit Europe Bank. A top NMC Healthcare official confirmed the development to Business Standard and said despite several meetings, senior BoB officials in India did not take remedial steps for fear of getting involved in an international ponzi scheme perpetrated by then senior management officials.
'I told myself, I will be 23 next year. Why can't I be a billionaire too?'
Sales, which were growing impressively in the first seven months of the year, decline in November. Ajay Modi reports.
After ramping up production to meet the steep demand spike during the Covid-19 pandemic, Indian medical device makers are now struggling with idle capacity. According to industry estimates, around a third of the installed capacity, especially for consumables, disposables, small-ticket electronic items, etc., is lying unutilised. Sample this: India used to produce just 6.24 million pieces of PPE kits per annum before the pandemic, but by June this was ramped up to 233.87 million pieces per annum.
India's second largest IT firm Infosys on Tuesday said it will initiate an internal investigation into an insider trading matter after markets regulator Sebi barred two of its employees from the securities market in the case. Sebi has banned eight entities, including two employees of Infosys, for indulging in insider trading activities in the shares of the company. The entities have traded in the scrip of Infosys while in possession of Unpublished Price Sensitive Information (UPSI) pertaining to Infosys' financial results for the quarter ended June 30, 2020, Sebi said in an interim order passed on Monday.
Organisers said last December that the entire cost of holding the Games would come to about $15.4 billion, including $2.8 billion in costs for the unprecedented postponement from 2020. Since then, the projected bill for postponement has risen to $3 billion.
'The US has invoked the Defence Act and banned export of raw materials.' 'This is as good as banning vaccines.'
The spread of the Omicron variant of the coronavirus has made Indian companies persist with their policy of banning overseas trips and allowing only essential travel within India. The IT services firms, which had planned to ask their employees to return to the workplace, are also waiting and watching the Covid-19 situation before fully opening up their offices. Large conglomerates like the Tatas, Birla, JSW and Reliance are continuing with the mandatory social distancing and masking policies within their office premises.
Accusing Pepsi and Coke of trying to escape from their responsibilities, a leading consumer organisation, the Consumer Unity and Trust Society, said it would move the apex consumer court, seeking the withdrawal of soft-drinks and a ban on their sale.
Its Waluj manufacturing facility in Maharashtra failed to meet the good manufacturing norms prescribed by the UK drug regulator.
Beside RIL's Jio Switch and Jio Browser, smaller Indian app companies who have been overwhelmed by TikTok are again seeing a big rush - even though till the second week of June they might not have been even listed in the top 100 apps in the country.
Two months after TikTok ban: Influencers busy rebuilding their fan base as homegrown apps enjoy 'gold rush'.
Today beef, tomorrow namaz, the third day Sunday mass the fourth day hijab, the fifth day halal, the sixth day love jihad will always be the issues on hand, asserts Aakar Patel.
'Sharapova has been a US resident since early in her career, which does bring in a question of how or why she is using a drug that is not licensed there'
The Uttar Pradesh government said prima facie no terror link had been established.
The order, valued at 'nearly $9 billion at list prices', was signed at Dubai Air Show 2021 on Tuesday.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
However, till Monday evening he was still in prison as formalities for his release could not be completed.
'India should start leveraging rather than banning crypto.'
The ban on taxi aggregators can put at risk investments of at least Rs 2,000 crore (Rs 20 billion), made by private equity (PE) and venture capital (VC) investors.
A friendly working environment, special healthcare facilities, flexible work hours, work from home options, support and camaraderie among the team members keep employees highly motivated in these 10 companies.
New Jersey Senate in US has approved a bill to ban companies, which take government contracts, to move their call centres abroad for cheap labour
India will export anti-malarial drug hydroxychloroquine, high in demand globally, only to foreign governments and not to private companies, as the product is under prohibited or banned category of exports, sources said. Although exports of this medicine is completely banned, India has decided to export this anti-malarial drug in sync with its global commitment to deal with the coronavirus pandemic.
'You can accuse him of many things but one thing you cannot accuse him of is being bad at politics,' says Aakar Patel.
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The ruling by the Supreme Court was made in a parallel civil insider trading case brought against Gupta by federal regulator Securities and Exchange Commission.
The announcement quells fears among some telcos that Chinese players might be banned from participating in 5G trials and roll outs.
