News for 'shell companies'

IPL money inflow shot in the arm for county cricket

IPL money inflow shot in the arm for county cricket

Rediff.com13 Feb 2025

While GBP 50 million is earmarked for grassroots and recreational cricket, the 18 English county teams will get a share of GBP 470 million with larger pie allocated for those clubs that don't own a 'Hundred Franchise'.

BP partnership to increase ONGC revenue by $10.3 billion

BP partnership to increase ONGC revenue by $10.3 billion

Rediff.com9 Jan 2025

State-owned Oil and Natural Gas Corporation (ONGC) expects a USD 10.3 billion revenue boost from increased oil and gas production, achieved through a partnership with UK's BP in the Mumbai High field.

US lenders say Delaware SC ruling affirms Byju's defaulted on Term Loan B

US lenders say Delaware SC ruling affirms Byju's defaulted on Term Loan B

Rediff.com24 Sep 2024

US lenders on Tuesday said that the Delaware Supreme Court ruling has affirmed that Byju's defaulted on Term Loan B while the edtech firm asserted that it has no impact on legal proceedings going on in India. Byju's US-based lenders on Tuesday said the Delaware Supreme Court (SC) in its September 23 order affirmed the previous ruling by the Delaware Court of Chancery and said an event of default had occurred under the credit agreement and entitled Byju's lenders and their administrative agent, GLAS Trust, for action against the company.

Trade talks: India, US to hold wrap-up session on Sat

Trade talks: India, US to hold wrap-up session on Sat

Rediff.com28 Mar 2025

India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage.

Global firms form 'good rice alliance' for Indian farmers

Global firms form 'good rice alliance' for Indian farmers

Rediff.com21 Oct 2024

Four big global companies - Bayer, GenZero (a wholly-owned arm of financial major Temasek), Shell and Mitsubishi - have decided to scale up their carbon credit programme in nine states to empower farmers. The credits are generated through the adoption of smart agriculture practices - Alternate Wetting and Drying (AWD) and Direct Seeded Rice (DSR). Since over a year, the project, which was being run on a pilot basis, has positively impacted 10,000 farmers, covering more than 25,000 hectares.

Does Battery Swapping Make Sense For e2Ws?

Does Battery Swapping Make Sense For e2Ws?

Rediff.com15 Jan 2025

Leading Indian electric two-wheeler (e2W) companies have said that "swapping" of batteries is currently unviable and will only increase the cost for a consumer to run the vehicle.

IT Dept detects 'tax evasion worth crores' in raids linked to SP

IT Dept detects 'tax evasion worth crores' in raids linked to SP

Rediff.com21 Dec 2021

The Income Tax Department detected bogus expenditure claims and alleged transfer of share capitals worth crores of rupees through shell companies after it recently raided some entities in Karnataka and Uttar Pradesh, including people linked to the Samajwadi Party.

Partha used to take Arpita for joyrides in high-end cars: Investigators

Partha used to take Arpita for joyrides in high-end cars: Investigators

Rediff.com30 Jul 2022

The Enforcement Directorate (ED) has begun the process of freezing at least five bank accounts of Arpita Mukherjee, the associate of arrested West Bengal minister Partha Chatterjee, where they have found at least Rs 2 crore, a senior official said on Saturday.

7 UP sugar mills worth Rs 1,097cr attached in case against ex-BSP MLC

7 UP sugar mills worth Rs 1,097cr attached in case against ex-BSP MLC

Rediff.com9 Mar 2021

The ED has attached seven sugar mills worth over Rs 1,097 crore in a money laundering case against former Uttar Pradesh BSP MLC Mohammed Iqbal and his family, officials said.

Lack of charging infra a shock for booming EV market

Lack of charging infra a shock for booming EV market

Rediff.com11 Feb 2025

Proliferation of home chargers of around 7 KWh and above, which take six to seven hours to fully charge a car depending on the model, bring running costs down by a third or so. That, coupled with the increasing range of modern electric cars, can lead to a massive increase in sales.

SC rejects SIT probe into electoral bonds scheme

SC rejects SIT probe into electoral bonds scheme

Rediff.com2 Aug 2024

The top court said it cannot order a roving inquiry into purchase of electoral bonds on the assumption that it was quid pro quo for award of contract.

41 firms facing probe donated Rs 2,471 cr to BJP: Petitioners

41 firms facing probe donated Rs 2,471 cr to BJP: Petitioners

Rediff.com23 Mar 2024

Senior advocate Prashant Bhushan, who appeared for the petitioners in the court, said at least 30 shell companies purchased electoral bonds worth over Rs 143 crore.

PNB fraud: ED raids shell firms; I-T attaches Rs 145 cr assets

PNB fraud: ED raids shell firms; I-T attaches Rs 145 cr assets

Rediff.com21 Feb 2018

The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.

'Pradhan Mantri Hafta Vasuli Yojana': Cong on electoral bonds

'Pradhan Mantri Hafta Vasuli Yojana': Cong on electoral bonds

Rediff.com18 Mar 2024

"Remember, the IT Department and the ED implement the Pradhan Mantri Hafta Vasuli Yojana. The State Bank of India implements the #ElectoralBondScam. And at the end of the day, all of these institutions report to the same person: the Finance Minister," Ramesh alleged.

SC verdict on Adani 'extraordinarily generous': Cong

SC verdict on Adani 'extraordinarily generous': Cong

Rediff.com3 Jan 2024

The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.

TN BJP chief releases video alleging scams, DMK threatens legal action

TN BJP chief releases video alleging scams, DMK threatens legal action

Rediff.com14 Apr 2023

Tamil Nadu Bharatiya Janata Party state president K Annamalai on Friday released 'DMK Files' alleging top ministers from the party and Chief Minister MK Stalin's family members had accumulated unaccounted assets.

Pak conducted artillery tests near LoC: Officials

Pak conducted artillery tests near LoC: Officials

Rediff.com3 Nov 2024

This comes as the neighbouring country strengthens defence ties with Gulf and Western European countries, and its long-standing ally Turkiye, the officials said.

PNB fraud: 200 shell firms, benami assets under scanner

PNB fraud: 200 shell firms, benami assets under scanner

Rediff.com18 Feb 2018

The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.

Adani charges: Cong seeks probe, BJP questions timing

Adani charges: Cong seeks probe, BJP questions timing

Rediff.com21 Nov 2024

With billionaire Gautam Adani charged in the United States with alleged bribery and fraud, the Congress on Thursday said it 'vindicates' its demand for a Joint Parliamentary Committee investigation into the various 'scams' involving his conglomerate.

Govt to launch internship scheme for 1 crore youth

Govt to launch internship scheme for 1 crore youth

Rediff.com23 Jul 2024

In a bid to provide jobs to the youth, Finance Minister Nirmala Sitharaman on Tuesday proposed to launch an ambitious scheme for providing internship opportunities in 500 top companies to 1 crore youth over a five-year period.

IOC, Adani-Total, Shell, 26 other firms lap up Reliance's KG-D6 gas

IOC, Adani-Total, Shell, 26 other firms lap up Reliance's KG-D6 gas

Rediff.com13 Apr 2023

State-owned Indian Oil Corporation (IOC), Adani-Total Gas Ltd and Shell were among the 29 companies that bid and bought natural gas to be produced from the deepest field in the KG-D6 block of Reliance Industries Ltd and bp, sources said. IOC walked away with almost half of the 6 million standard cubic meters per day of gas sold in an e-auction on Wednesday while state-owned gas utility GAIL bought 0.7 mmscmd, Adani-Total Gas Ltd 0.4 mmscmd, Shell 0.5 mmscmd, GSPC 0.25 mmscmd and IGS another 0.5 mmscmd, two sources with knowledge of the matter said. Reliance-bp on Wednesday held an e-auction for sale of gas from the MJ field in their eastern offshore KG-D6 block after incorporating the government's new marketing rules to give CNG-selling city gas companies first priority over supplies.

258 dead in Manipur violence since May 2023: Govt official

258 dead in Manipur violence since May 2023: Govt official

Rediff.com22 Nov 2024

The ethnic violence between Meitei and Kuki communities in Manipur has claimed 258 lives since May last year, the state government's Security Advisor Kuldiep Singh said on Friday.

Fire, engineering insurance premiums likely to move up by 60% in 2025

Fire, engineering insurance premiums likely to move up by 60% in 2025

Rediff.com31 Dec 2024

In 2025, Indian firms may face higher premiums for fire and engineering insurance covers as reinsurers are likely to revise rates due to rising claims from catastrophic events and higher loss ratios, according to people in the know.

Want A US Visa? Pray to Lord Hanuman!

Want A US Visa? Pray to Lord Hanuman!

Rediff.com20 Feb 2025

As the US gets tougher with visas, the prayers of US-bound devotees in India are getting more fervent, and their purse strings looser. Called Visa Hanuman temples (there are half a dozen all over India), some of them ask for a 'fee'.

PIX: Las Palmas stun Atletico; Barca rally past Celta Vigo

PIX: Las Palmas stun Atletico; Barca rally past Celta Vigo

Rediff.com20 Apr 2025

A summary of Saturday's action in LaLiga, Serie A, Bundesliga and Ligue 1.

Investor wealth takes Rs 1.43 lakh-cr knock as stocks plummet

Investor wealth takes Rs 1.43 lakh-cr knock as stocks plummet

Rediff.com8 Aug 2017

The benchmark indices fell as Sebi cracked down on 331 suspected shell companies listed on exchanges.

Sebi intervenes in Rs 45 cr Trafiksol IPO irregularity

Sebi intervenes in Rs 45 cr Trafiksol IPO irregularity

Rediff.com14 Oct 2024

The Securities and Exchange Board of India (Sebi) has intervened in the matter concerning alleged irregularities by Trafiksol ITS Technologies, which had come out with a Rs 45 crore initial public offering (IPO) last month. In an ex-parte order, the market regulator has said it will undertake a detailed examination into the disclosures made by the small and medium enterprise (SME) company in its draft offer document. BSE had halted the listing of Trafiksol, a software provider for traffic systems, amid complaints around use of the issue proceeds and wrongful disclosures.

Violence in Parbhani after Constitution replica damaged

Violence in Parbhani after Constitution replica damaged

Rediff.com12 Dec 2024

Violent protests erupted in Parbhani, Maharashtra, India, for the second day over the vandalising of a replica of the Indian Constitution. Prohibitory orders were imposed in the city, banning gatherings of five or more people in public places. A mob indulged in arson and vandalised the district collector's office. Police arrested a man in connection with the incident, but protests continued. Protesters demanded a thorough investigation and blamed the government's lax approach.

Task force lens falls on India Inc's subsidiaries in tax havens

Task force lens falls on India Inc's subsidiaries in tax havens

Rediff.com17 Mar 2018

The task force has provided probe agencies with a list of attributes, including disproportionate investments, debt, advances or cash, to red-flag such firms.

It's time for companies to come clean

It's time for companies to come clean

Rediff.com18 May 2015

Penalties for undisclosed foreign income and assets extend up to 300%.

28 Maoists killed in Bastar; AK-47, SLR recovered: ANI

28 Maoists killed in Bastar; AK-47, SLR recovered: ANI

Rediff.com5 Oct 2024

As many as 14 Maoists were killed in an encounter with security personnel in Chhattisgarh's Bastar region on Friday, a senior police official said. However, ANI has put the toll at 30.

Covid centre scam: ED files chargesheet against Sanjay Raut's bizman aide

Covid centre scam: ED files chargesheet against Sanjay Raut's bizman aide

Rediff.com16 Sep 2023

The chargesheet against the associate of Shiv Sena-UBT MP Sanjay Raut was submitted before the court's registry and it will come up before the special judge for cases under the Prevention of Money Laundering Act after scrutiny of papers.

What new scam will electoral bonds data reveal, asks Cong

What new scam will electoral bonds data reveal, asks Cong

Rediff.com13 Mar 2024

Congress general secretary in-charge communications Jairam Ramesh said "surprisingly" the prime minister is grounded in New Delhi on Wednesday and not travelling around the country for new "inaugurations", for rebranding, or for claiming credit for past work.

I-League players approached to fix matches

I-League players approached to fix matches

Rediff.com30 Nov 2023

In 2018, the AIFF officially said that it was investigating match-fixing approaches made to players from the Minerva Punjab Football Club during the I-League.

HC directs special court to hear afresh graft case against Yediyurappa, kin

HC directs special court to hear afresh graft case against Yediyurappa, kin

Rediff.com7 Sep 2022

Allowing the petition in part, the HC set aside the order of the sessions court and directed the LXXXI additional city civil and sessions judge court to hear afresh the complaint.

'Can't abdicate jurisdiction': Oppn to ED over Adani issue

'Can't abdicate jurisdiction': Oppn to ED over Adani issue

Rediff.com15 Mar 2023

Leaders of several opposition parties were stopped by the police at Vijay Chowk in New Delhi as they took out a protest march from Parliament House to hand over a complaint to the Enforcement Directorate on the Adani issue.

Electoral bonds: Sibal seeks SIT probe into 'quid pro quo'

Electoral bonds: Sibal seeks SIT probe into 'quid pro quo'

Rediff.com15 Mar 2024

Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.

Vax king Poonawalla shells out Rs 1,400 crore to snap up London villa

Vax king Poonawalla shells out Rs 1,400 crore to snap up London villa

Rediff.com13 Dec 2023

Serum Institute of India chief Adar Poonawalla will pay 138 million (about Rs 1,444 crore) for a Mayfair mansion in London in one of the city's most expensive home sales of the year

'Russia Wants To Terrorise Ukraine'

'Russia Wants To Terrorise Ukraine'

Rediff.com21 Nov 2024

'Russia is aiming at demoralising Ukraine as a nation.' 'They want to bomb the infrastructure, the electric stations so that regular citizens will not to be able to live, to cook, to give comfort to their kids.'

Amount paid on share buyback to be treated as dividend and taxed in hands of shareholders: FM

Amount paid on share buyback to be treated as dividend and taxed in hands of shareholders: FM

Rediff.com23 Jul 2024

Finance Minister Nirmala Sitharaman on Tuesday said buyback of shares will be taxed in the hands of shareholders similar to dividend from October 1, a move that will increase the tax burden on investors. Further, the cost paid by the shareholder to acquire these shares will be considered for computation of capital gains or loss to them.