In the search, Rs 60 crore were found in 20 accounts of as many shell companies, an official said, adding the I-T team was scanning the records to trace the directors of these companies.
Anglo-Dutch oil giant Shell will begin auto fuel retailing in India by the end of 2004, Shell India Chairman Vikram Singh Mehta said in New Delhi.\n\n\n\nShell has a licence to set up 2000 \n\n
World's third largest oil firm Royal Dutch/Shell will source petrol and diesel from Mangalore Refinery and Petrochemicals Ltd for its upcoming 2000 petrol stations in the country.
Embattled Adani Group on Monday said it has put on hold major equipment procurement and site construction activities for the Rs 34,900 crore petrochemical project at Mundra in Gujarat as the project has not yet tied up finances. The group's flagship Adani Enterprises Ltd (AEL) incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd in 2021 for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in the Kutch district of Gujarat. Asked by stock exchanges to comment on a PTI report on Sunday that the group has suspended work on the project, AEL said, "The financial closure of the Green PVC project of Mundra Petrochemicals Limited ( MPL) is pending with the financial institutions and it is in their active consideration."
International oil and gas giant Royal Dutch Shell is all set to foray into distribution of Aviation Turbine Fuel, fuel for airplanes.
Greenpeace activists forced a temporary shut down of Shell petrol pump near the WEF meeting venue in Davos this morning and called for the energy giant to be suspended from the influential annual global economic meet being held in Davos.
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
The tourists had risked a defeat inside three days after India, having built a lead of 190, reduced England to 163-5 in their second innings in the second session of the day.
Ministry of Corporate Affairs is now likely to examine whether all active companies have PAN or not
The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
Consumer durables retailers and manufacturers may end up bearing the cost of the Reserve Bank of India's (RBI's) tightening on easy personal loans, as their margins are expected to be impacted by higher borrowing costs. During the recently passed festival season, consumer durables companies started offering longer tenure loans, zero down payments, and zero interest on a wider assortment of products than ever before, making the products more affordable. While 18- and 24-month easy monthly instalment (EMI) options were available earlier, companies offered them only on select products; now, they are being extended to a larger section of products.
Shell India on Tuesday described as "absurd" the demand for $1 billion in taxes on a $160 million equity infusion done by the Anglo-Dutch oil major four years ago, saying it tantamounted to tax on FDI.
Leading the Opposition attack over the Adani-Hindenburg issue in the Lok Sabha, Rahul Gandhi on Tuesday linked Gautam Adani's meteoric rise to Prime Minister Narendra Modi's coming to power and said "magic" happened after 2014 that propelled the businessman from the 609th to the second spot on the global rich list.
The CBI has been carrying out searches at various locations for the past few days to locate assets acquired from the proceeds of the scam, officials said.
With Sebi telling the Supreme Court that it was not investigating the Adani group since 2016, the Congress on Monday cited a Union minister's reply in the Lok Sabha to challenge the claim and asked whether Parliament was misled or the market regulator was "fast asleep" as investors were "duped".
The case pertains to alleged financial irregularities in supply of high-altitude tents worth Rs 22 crore to intelligence agency Research and Analysis Wing during 2009-13.
For an annual dividend income of Rs 10 lakh or more, the investor will pay a DDT of 10 per cent
Obama to push for expansion of Foreign Account Tax Compliance Act.
The top boss of the I-T department said that till now, the taxman has attached 621 properties, including some bank accounts, and the total amount involved in these cases, being probed under the Benami Transactions Act, is about Rs 1,800 crore.
Shell India is the second private sector petroleum company to review its expansion plans in India. The company has decided not to open any more petroleum outlets. The company has also asked some of its employees to start looking for another job. Shell has 50 petrol pumps across the country and has a licence to open 2,000 pumps.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
French oil giant Total will take 26 per cent stake in Royal Dutch/Shell's $600 million Hazira liquefied natural gas import project in Gujarat.
A curfew was imposed in Haldwani on Thursday after local residents set vehicles and a police station on fire and hurled stones, injuring more than 60 people, over the demolition of an 'illegally built' madrasa and an adjoining mosque, officials said.
He will replace Add Jacobs, who will retire after less than one year in the post at Shell.\n
Fighting in Ukraine has so far pushed more than 500,000 people across the country's borders, according to the United Nations refugee agency.
Mehta's exit and Hilton's entry would see the company making history in India, where women have remained out of the chairperson's slot in energy companies, private or state-run.
IBM, Nokia Oyj, Microsoft cases could now be resolved
Three entities are at the centre of this controversy: The Brazilian government, Bharat Biotech and a Singapore-based company called Madison Biotech.
The investigating officer of the Delhi police, in the remand application, had sought custodial interrogation of the accused saying it was required to identify the persons to whom the alleged siphoned off money was transferred and to ascertain the purpose of creating the shell companies.
Phantom FDI refers to investments that pass through shell companies that have no real business activities and are tailor-made to cut tax liabilities.
'The BJP has started a war-like situation against farmers and the Jat community.'
The income tax department on Wednesday conducted raids in multiple states as part of a pan-India tax evasion probe against certain registered unrecognised political parties (RUPP) and their alleged dubious financial transactions, official sources said.
Maharashtra and Delhi lead the pack of states in terms of absolute number, with 142,425 and 125,937 closed companies, respectively.
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
4 luxury SUVs and documents indicating 'benami' assets of Rs 300 crore have been recovered during income tax raids.
The apex court had earlier restrained the high court from proceedings with the PILs seeking a probe against Soren in the mining lease issue.
Jaitley sets condition of 50% assets for applicability of capital gain tax.
Wealthy Indians shelled out 3.1 per cent of their total income on charitable donations in 2011 and more than half pledged to give even more this year, says a study by global business consultancy Bain & Company.
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