SBI Funds Management (SBI MF) will distribute the fifth tranche of Rs 3,303 crore to unitholders of Franklin Templeton Mutual Fund's six shuttered schemes during the week beginning Monday. With this, the total disbursement will reach Rs 21,080 crore, amounting to 84 per cent of assets under management (AUM) as on April 23, 2020, a Franklin Templeton MF spokesperson said on Sunday. Under the first disbursement in February, investors received Rs 9,122 crore, while Rs 2,962 crore were paid to investors during the week of April 12, Rs 2,489 crore during the week of May 3 and in the latest disbursement during the week of June 7, investors were paid Rs 3,205 crore.
The economic offence wing of Delhi police has registered an FIR against Nayati Healthcare's Niira Radia and four others for alleged embezzlement of over Rs 300 crore of bank loan, following a complaint filed by orthopaedic surgeon Rajiv Sharma from whom they had acquired two hospitals.
Dispatch of the vaccine is likely to start by early Tuesday morning, sources said. According to the order placed, each dose of the vaccine has been priced at Rs 200 and with GST of Rs 10, it would cost Rs 210.
The Income Tax department on Friday conducted separate 'survey operations' at the premises of online news portals Newsclick and Newslaundry in New Delhi, officials said.
'It is the duty and responsibility of the public officer to proceed responsibly and ascertain the true and correct facts. Execution of law without appropriate acquaintance with legal provisions and comprehensive sense of their application may result in an innocent being prosecuted,' the apex court said.
CBI has alleged that Rana Kapoor entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Kapoor's daughters, DoIT Urban Ventures.
Private players are increasingly looking at the defence market which is a promising multi billion-dollar arena.
The Supreme Court on Monday said it will examine the interpretation of sedition law, particularly in the light of media rights and free speech, as it gave protection to Telugu news channels -- TV5 and ABN Andhrajyothi -- from any coercive action in a case lodged against them under the colonial era provision.
Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said. He is expected to be produced before a court on Wednesday where the ED will seek his custody, they added. The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.
Pvt life insurers are planning to foray into health covers, with standalone health insurance policies.
Videocon group promoter Venugopal Dhoot on Friday appeared before a court in Mumbai in the alleged ICICI Bank-Videocon money laundering case, and was granted bail.
Banerjee, the 34-year-old nephew of West Bengal Chief Minister Mamata Banerjee, is stated to have sent an email to the investigating officer of the case citing some personal reasons for his non-appearance.
The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers' interest in the public issue, market experts said on Sunday. The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed divestment target of Rs 78,000 crore this fiscal.
As part of the agreement, McDonald's has acquired 50 per cent voting equity shares in Connaught Plaza Restaurants, held by Bakshi and his affiliated entity since inception.
It was merely an obligation in the past, but financial inclusion has now turned into a big business opportunity for private banks.
The NCLAT, in its December 18, 2019 order, had restrained the company, its board of directors and shareholders from exercising the power under the article against minority members except in exceptional circumstances and in the interest of company. A bench headed by Chief Justice S A Bobde dealt with this issue in its 282-page verdict which set aside the NCLAT's order that had restored Cyrus Mistry as the executive chairman of the USD 100 billion salt-to-software conglomerate.
Future Retail Ltd has said that SEBI's one-year ban on its chairman Kishore Biyani and some other promoters from the securities market will have "no impact" on the Rs 24,713 crore-deal with Reliance. Further, Kishore Biyani, some other promoters and Future Corporate Resources Pvt Ltd (FCRPL) plan to appeal against the order passed by Securities and Exchange Board of India (SEBI) on Wednesday. "The order will have no impact on the ongoing Scheme of Arrangement of the company. We understand that the relevant parties propose to challenge this order in exercise of their statutory right to appeal," Future Retail Ltd (FRL) said in a late-night regulatory filing on Wednesday.
Glazetech Acupanel offers summer internships in Sales, Marketing and Finance (Jaipur).
Some of the top PSUs may have pulled out of the Commonwealth Games in the wake of corruption allegations, but Organising Committee chairman Suresh Kalmadi is unperturbed, saying he is confident of making up the deficit through the private sector.
Civil aviation authorities have asked all private airlines to withdraw the congestion surcharge of Rs 150 imposed per passenger, Rajya Sabha was informed on Tuesday.
The MHA said all the "glossy statements" about humanitarian work and speaking truth to power are nothing but a "ploy to divert attention" from their activities which were in clear contravention of laid down Indian laws.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
Liquor baron Vijay Mallya-promoted Kingfisher Airlines has become the first private airline in the country to get Category III certification from the Directorate General of Civil Aviation.
A start-up firm in Noida said soon after the Galwan Valley clash, it was tasked by the Indian security forces to provide them equipment to be able to tackle the Chinese and they have provided them solutions in the form of non-lethal weapons inspired by the traditional Indian weapons like the 'Trishul' of Lord Shiva.
Effective tax rate is the portion of profits which companies pay as corporate tax after seeking exemptions, as against the statutory tax rate of 33.9 per cent.
Kuwait has decided to set a minimum wage of 60 Kuwait dinars (Rs 9,191.53) for workers in the private sector, the country's social affairs and labour minister has said.
Kishore Biyani's Future Group is getting its act together on supplying its private labels outside the group's 1,000-odd outlets, even as Mukesh Ambani's Reliance Retail has already marched ahead by starting to sell some of its private brands to kiranawalas (independent stores).
Sri Lanka on Thursday signed an agreement with India to jointly redevelop the strategic World War II-era oil tank farm in the island nation's eastern port district of Trincomalee, in a new milestone in bilateral economic and energy partnership.
The Delhi high court on Thursday dismissed BJP leader Subramanian Swamy's plea seeking to set aside the Air India divestment process on the allegation that the methodology adopted by the government in the valuation of the national carrier was "arbitrary, illegal and against public interest". The order was passed by a bench of Chief Justice D N Patel and Justice Jyoti Singh. The court said a detailed order will be uploaded. "Dr. Subramanian Swamy, sir we are dismissing this matter...," the bench said.
Protocol to accord such services to MPs have been in existence for over three years now.
According to an official statement, Union road transport and highways minister Nitin Gadkari said the 19 other places in the country include Phalodi-Jaisalmer road and Barmer-Jaisalmer road in Rajasthan, Kharagpur-Balasore road in West Bengal, Hashimara-Guwahati road in Assam, Bhuj-Naliya road in Gujarat, Leh/Nyoma area in Assam and on the Jorhat-Baraghat road, among others.
The police claimed there were several WhatsApp chats that revealed Kundra, 45, the husband of Bollywood actor Shilpa Shetty, was involved in the financial dealings of the app and its contents.
Rights of toll collection in 96 toll plazas on highways under the National Highways Authority of India will be offered to the private sector.
I got to know that every referred case for angiography and angioplasty got a kickback of Rs 5,000 and Rs 15,000 respectively. Seeing this trend, doctors started paying referring doctors Rs 1 lakh in advance and adjusting it as and when patients came in. This menace slowly spread its tentacles all over the medical field, including radiological diagnostics and biochemistry laboratories. For every test ordered, 20 per cent of the bill was given back to the referring doctor. This led to doctors recommending unnecessary tests. The pharmaceutical companies also saw burgeoning business. Acclaimed doctors were given televisions sets, refrigerators, air conditioners and cars depending upon the prescriptions. General practitioners would prescribe unnecessary drugs, and were given returns in cash. A fascinating excerpt from Dr Upendra Kaul's When The Heart Speaks.
The Finance Ministry has invited private sector bankers.
If the fear of ED could drive the powerful people of today to be honest or at least be minimally corrupt, will it not be a great thing for our nation?, asks Sudhir Bisht.
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