Scores of chartered accountants, company secretaries and cost accountants are currently under the regulatory scanner for alleged violations of the companies law with respect to setting up of certain Chinese companies and their subsidiaries in India, according to officials. The apex bodies of chartered accountants and company secretaries, ICAI and ICSI, have together received around 400 complaints on the issue and necessary actions have been initiated. The Institute of Cost Accountants of India has also initiated action against some of their members in the matter.
'Nirmalaji's Budget announcements have long-term implications and are not backed by enough money when the short-term outlook looks bleak,' notes T N C Rajagopalan.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
Mumbai's Wasim Jaffer and Ajinkya Rahane together helped Mumbai put up a good response and at stumps, the home team had reached 155 for two (in 43 overs), in reply to RoI's 526. Rahane was batting on a well-made 55, and giving him company was night watchman Shardul Thakur (on four).
Twitterati insisted that Rohit Sharma should lead India in the ICC Men's cricket World Cup.
The Gujarat high court on Tuesday declared state Bharatiya Janata Party minister Bhupendrasinh Chudasama's election in 2017 as void on grounds of malpractice and manipulation.
Its registration is unusual because the firm appears twice in the RoC database, but different identification numbers.
Former all-rounder Tom Moody on Saturday picked India's Rohit Sharma and fellow Australian David Warner as best opening batsmen in T20 cricket.
Indian drug firms get a shot in the arm in the $12 bn Australian drug market as the Therapeutic Goods Administration (TGA), Australia agrees to accelerate the drug approval process in that country for Indian players who already have an approved plant and product from one of the stringent regulatory authorities like US, EU or Canada. From current sales of $340 mn, the Indian firms can see a significant upside in sales; felt Dinesh Dua, former chairman of the Pharmaceutical Exports Promotion Council of India (Pharmexcil), and the MD of Nectar Lifesciences. He highlighted that only 12 percent of the Australian drug market is generic, as against 80-90 per cent in the US or EU. Of this $1.5 bn generic drug market in India, Indian companies have a small share.
Apart from shell companies, 'vanishing' companies are also on the ministry's radar. As many as 400 companies are not traceable, despite being listed on the bourses.
The country's exports rose by 48.34 per cent to $32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods, according to the data released by the Commerce Ministry on Thursday. Imports in June too rose by 98.31 per cent to $41.87 billion, leaving a trade deficit of $9.37 billion as against a trade surplus of $0.79 billion in the same month last year. During April-June 2021, the exports increased by 85.88 per cent to $95.39 billion.
An emergency arbitration hearing between Amazon and retail conglomerate Future Group took place last week and a verdict is expected in the next few days, according to sources.
The government is planning to merge Bharat Broadband Nigam Limited (BBNL) with the loss-making state-run telecom operator Bharat Sanchar Nigam Limited (BSNL) this month, a senior official has said. BSNL chairman and managing director PK Purwar at a recent event organised by the All India Graduate Engineers and Telecom officers Association (AIGETOA) said that the government is giving the telecom firm an opportunity for a turnaround. "The government has taken a policy decision that BBNL is going to be merged into BSNL. "This means all work of BBNL at the pan-India level is going to come to BSNL," Purwar said at the All India Conference of AIGETOA on March 13.
According to industry figures, the pre-Covid demand for liquid medical oxygen (LMO) before the pandemic was 700 tonnes per day across the country. Now, with the second wave, the demand has gone up more than seven times, reports Jyoti Mukul.
The "Samosa caucus" comprises of five Indian-American lawmakers, including four members of the House of Representatives and Senator and Democratic vice presidential nominee Kamala Harris.
In the second phase of action against shell companies, the MCA is also trying to trace the directors of 'vanishing' companies
After contracting for six months in a row, the country's exports grew by 5.27 per cent to $27.4 billion in September, Commerce and Industry Minister Piyush Goyal said on Thursday.
The country's exports grew by 47.19 per cent to $35.17 billion on account of healthy growth in the outbound shipments of petroleum, engineering, and gems and jewellery, according to the provisional data of the commerce ministry. Imports during the month also rose by 59.38 per cent to $46.40 billion, leaving a trade deficit of $11.23 billion. Exports of petroleum, engineering, and gems and jewellery in July increased to $3.82 billion, $2.82 billion and $1.95 billion respectively, the data showed.
'If it was up to me, Dubai would always host a one off match like this WTC game. Neutral venue, fabulous stadium, guaranteed weather, excellent training facilities and a travel hub!' KP tweeted.
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
But return on equity deteriorated for 7 of the 12 firms analysed.
Under the Companies Act, all the rights of at least 300,000 disqualified directors cease to have any validity.
Overall, the credit profiles of players will be supported by healthy balance sheets and liquidity. Prudence in capital and development expenditure, efficient working-capital management, and recent equity raising will help sustain credit metrics in FY22.
The prime minister had called ferry service his 'dream project' while addressing a gathering at Gandhinagar on Monday.
Byju's, Flipkart, PharmEasy and CRED, among others, have taken the acquisition route to grow
Rajneesh Gupta lists all the important numbers from day two of the Oval Test.
The nodal officer for EVMs in Varanasi, a returning officer (RO) in Sonbhadra district and an additional election officer in Bareilly district have been pulled out from election duties, a day ahead of the counting of votes in UP.
Members of the India One-day international squad, including Mahendra Singh Dhoni and Rohit Sharma, on Monday, left for Australia for the three match series beginning on Saturday.
The cricketing fraternity took to Twitter to react to the roller coaster finale following an eventful IPL season which produced some unprecedented moments on the field.
The mission - unveiled by Communications Minister Ravi Shankar Prasad -- will enable strengthening of technological infrastructure for education, health, entrepreneurship and development.
Higher dividend taxes, falling valuations make alternative shareholder payment attractive.
Former Aam Aadmi Party MLA Jarnail Singh passed away in New Delhi on Friday due to COVID-related complications, his family said. He was 48.
With international cricket returning to India, the second Test of the four-match series is the first time that fans have been allowed to attend, considering the ever-improving COVID-19 situation in the country.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Growing for the third consecutive month, the country's exports rose marginally by 0.67 per cent year-on-year to $27.93 billion in February even as trade deficit widened to $12.62 billion, according to official data released on Monday.
Top Pentagon officials have shown an understanding of India abstaining at the UN on resolutions against the Russian aggression against Ukraine but had a hard time pacifying many US lawmakers during a Congressional hearing on the Indo-Pacific on New Delhi's repeated abstention at the world body in New York.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
Introduced in 2015 under the Foreign Trade Policy, the mega MEIS was created out of a merger of five existing reward schemes.
The government has already struck off 226,000 companies from the register for not filing statutory returns
