ECONOMY & NATION


The central bureau of investigation (CBI) has arrested an interim resolution professional (IRP) of the National Company Law Tribunal (NCLT), Mumbai, and two others including a jeweller in a bribe case of Rs2 lakh, here on Thursday.   Following a complaint lodged against the IRP,...

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Moneylife Digital Team 04 May 2022
Off-balance-sheet borrowings of states are estimated to have reached a decadal high of about 4.5% of gross state domestic product (GSDP), or around Rs7.9 lakh crore, in fiscal 2022. That marks a rise of 100bps (basis points) from fiscal 2020, reveals a CRISIL Ratings' study of 11 states that...

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Rintu Mariam Biju (The Leaflet) 04 May 2022
The Supreme Court on Monday reiterated that excess payments made to employees cannot be recovered after their retirement on the ground that the said increments were granted owing to an error, in the case of Thomas Daniel versus State of Kerala & Ors.   A division bench of Justices S...

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In a major crackdown against a reality firm, the Haryana Real Estate Regulatory Authority (HRERA) on Tuesday issued arrest warrants against the directors of Ansal Housing Corporation Ltd, besides issuing summons to its managers for failing to deliver a housing unit on time and for not...

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The National Company Law Tribunal has issued notice to Emaar India Ltd, asking it to file a status report on a plea filed by its erstwhile joint venture partner MGF Developers Ltd.   The respondent (Emaar) is directed to file a status report of any major decision taken by it,...

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Moneylife Digital Team 02 May 2022
Once again, the burgeoning pendency of legal cases at all levels of the judiciary in India has been highlighted by none other than the attorney general KK Venugopal. Speaking at a reception in New Delhi, Mr Venugopal says, with technology, it is possible to track pendency of cases; however,...

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The central bureau of investigation (CBI) has recovered incriminating documents from the premises of three top realtors—Shahid Balwa, Avinash Bhonsle and Vinod Goenka—in Mumbai and Pune during raids in connection with Yes Bank-DHFL scam.   The federal probe agency had arrested Sanjay...

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As Bitcoin hovers in the range of US$38,000-US$40,000 per digital coin, billionaire Warren Buffett has said that he will not even pay US$25 for all the Bitcoin in the world.   Addressing Berkshire Hathaway's annual shareholder meeting, the ace investor said Bitcoin is not a productive...

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The central bureau of investigation (CBI) on Monday said that they have lodged a new case against fugitive businessman Mehul Choksi and his company Gitanjali Gems for allegedly defrauding the Industrial Finance Corporation of India (IFCI) to the tune Rs22 crore between 2014 and...

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Moneylife Digital Team 02 May 2022
In April, Indian transporters passed on the higher diesel prices by raising freight rates on several routes. However, fleet utilisation was flat on a monthly basis, says a research note.   In the report, rating agency CRISIL says, "While there was higher utilisation for agri-products,...

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Hours after the enforcement directorate (ED) seized Rs5,551.27 crore of Xiaomi Technology India Private Limited lying in the bank accounts under the provisions of Foreign Exchange Management Act (FEMA) in connection with the illegal outward remittances made by the company, Xiaomi said that as...

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The Alternative Mechanism, committee empowered by the CCEA, has approved the highest bid of Star 9 Mobility Private Ltd for sale of entire government's 51 per cent of shareholding of Pawan Hans Limited (PHL) and transfer of management control.   PHL is a joint venture of Government of...

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Moneylife Digital Team 29 April 2022
Applauding the colossal work done by COVID warriors like doctors, paramedics, activists, non-government organisations (NGOs) and corporates, BrihanMumbai Municipal Corporation (BMC) commissioner Iqbal Singh Chahal says he would forever be grateful to the 'COVID Warriors'. He was speaking at a...

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Gursimran Kaur Bakshi (The Leaflet) 29 April 2022
A Supreme Court bench comprising Justices Dinesh Maheshwari and Vikram Nath in Kalyani (Dead) Through Lrs. & Ors. vs. The Sulthan Bathery Municipality & Ors, held that the actions of the respondents of acquiring the property of the appellants, all farmers, without paying any compensation was...

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With an aim to document native natural resources and conserve them with the help of the local community that will ensure not just biodiversity conservation but also inclusion of traditional knowledge, the Maharashtra Cabinet on Thursday approved the 'Maharashtra Gene Bank', a...

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Dr TV Gopalakrishnan 28 April 2022
"Many of the economic challenges we face today stem from the neglect of supply side policies over the past decade or more." Augustine Carstens (Times of India).    At 14.55%, March Inflation Hits Four Months (High Business Line)   Price Rise, Geopolitical Woes Offset Gains...

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Reliance and Viacom18 on Wednesday announced a strategic partnership with Bodhi Tree Systems—a platform of James Murdoch's Lupa Systems and Uday Shankar—to form one of the largest TV and digital streaming companies in India.   Bodhi Tree Systems is leading a fund raise with a...

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Moneylife Digital Team 27 April 2022
Ravi Parthasarathy, the man who built Infrastructure Leasing & Financial Services (IL&FS) into a gigantic hydra-headed conglomerate passed away today after suffering from cancer for several years.    He was one of the first employees and chief executive of IL&FS, which was promoted by...

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In the latest action against fin-tech companies controlled by Chinese, who had been providing short-term loans and were allegedly involved in money laundering, the enforcement directorate (ED) on Wednesday said that it has attached assets worth Rs6.17 crore lying in various accounts, merchant...

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Moneylife Digital Team 26 April 2022
Anticipating an inevitable default by Future Retail Ltd on its US$500mn (million) senior secured notes (SSN), S&P Global Ratings lowered its credit ratings to 'CC' from 'CCC-' following the termination of the company's proposed asset sale to Reliance Retail Ventures Ltd (RRVL). The 'CC'...

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