EU finance ministers agreed new measures to force accountants and banks to report aggressive tax schemes that help companies shift profits to low-tax countries.
Even as govt policies give huge thrust to affordable housing, data reveals elevated risks for lenders because of a higher propensity among the borrowers to default.
NDTV said Delhi HC has directed the tax dept not to take any coercive action against it for a period of 10 days in case the assessing officer in Rs 436.80 crore tax case.
BoB said it has an exposure of Rs 456.6 cr in the Rotomac Global, currently being investigated by CBI and ED in connection with an alleged bank loan fraud of Rs 3,695 cr.
I-T dept issued a notice to Anita Singhvi asking her to explain about certain jewellery purchases, amounting to Rs 6 cr, allegedly from a showroom owned by Nirav.
The I-T dept has stepped up action against Rotomac group and its promoters attaching 11 bank ac/s in connection with an alleged tax evasion probe, officials said.
The IT department has found that in the last financial year the Nirav Modi group had illegally diverted Rs 1,216 crore of diamonds from its SEZ to the domestic market.
The I-T dept attached seven properties of the Gitanjali Group and its promoter Mehul Choksi in Mumbai in connection with a tax evasion probe against them.
HC has rejected the plea of a Delhi-based hospitality firm linked to Robert Vadra challenging an income tax department notice to it for re-assessment of its profits.
Nasscom has once again expressed concern over the falling fund flows into startups and called for added focus to galvanise the entrepreneurial ecosystem.
Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively
To add platform capabilities in the insurance segment which contributes 15% of total business
The Acquisition is expected to close within the next 3 months
Sells Essar Steel loan to Deutsche Bank
Has sold its $385 mn Foreign currency loan extended to Essar Steel
Bank has taken a 38% haircut
Rs 1600 cr is expected earnings to the bank from the deal
Economic Times Reports
To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn
The co is also in discussions to sell its residential and commercial projects in Chennai
To convene shareholder’s meet on 23rd March in regard to the proposed divestment
Gets Order Worth Rs 230 Cr From NTPC
To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators
Will help NTPC commission the 3x 660MW plant started 12years
Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI
The completion period for the project is 30 months