ECONOMY & NATION


IANS 10 November 2021
The Kerala government on Wednesday suspended Inspector General of Police G.Lekshmana for his alleged close links with fake antique dealer Monson Mavunkal.   Lekshmana is the first head to roll in the case. Chief Minister Pinarayi Vijayan on Wednesday put his signature on Lekshmana's...

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IANS 09 November 2021
The Enforcement Directorate (ED) said on Tuesday that it has attached assets worth Rs 61.38 crore in connection with its ongoing money laundering probe into siphoning of public funds from Bhushan Steel Limited (BSL), Bhushan Energy Limited (BEL) and others.   According to the ED, the...

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IANS 09 November 2021
Reliance Eagleford Upstream Holding, LP (REUHLP), a wholly owned step-down subsidiary of Reliance Industries Limited (RIL), has announced the signing of agreements with Ensign Operating III, LLC (Ensign), a Delaware limited liability company, to divest its interest in certain upstream assets...

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Moneylife Digital Team 09 November 2021
Cairn Energy PLC of UK has decided to drop litigation to seize Indian properties abroad to recover the Rs7,900 crore tax refund due to it and indemnified the Indian government in writing as part of the provision to settle restrospective tax disputes under the the Taxation Laws (Amendment)...

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Moneylife Digital Team 08 November 2021
At the first meeting of the committee of creditors (CoC) which took place on 2nd November, the Reserve Bank of India (RBI)-appointed administrator, Rajneesh Sharma, apprised the lenders about the status of the two crisis-ridden Srei companies’ corporate insolvency resolution process, as per...

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Moneylife Digital Team 08 November 2021
Expressing shock over Tripura Police's action of booking 102 people, including journalists, under the coercive Unlawful Activities (Prevention) Act (UAPA), for reporting and writing on the recent communal violence in the state, the Editors Guild of India (EGI) has demanded the state...

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IANS 08 November 2021
Scammers have used Google Ads to steal crypto currencies worth $500,000 in a matter of days, a new report showed on Monday, even as cryptocurrencies witness rapid adoption across the world, especially in India.   According to the report by Check Point Research (CPR), scammers are...

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IANS 08 November 2021
A Delhi court on Monday sentenced Sushil and Gopal Ansal, the owners of Uphaar theatre, to 7 years imprisonment in the evidence tampering case.   It also imposed a fine of Rs 2.25 crore on both.   "After thinking over nights and nights, I have come to the conclusion that they...

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IANS 08 November 2021
With the monsoon withdrawing, consumption recovering, and infrastructure activity picking up, freight rates saw a sequential recovery in October. However, with diesel prices ruling high after a scorching run-up, the overall profitability of transporters remains below levels seen in the...

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IANS 08 November 2021
Power cut or supply at a very low voltage, threat of more rains resulting in waterlogged roads and homes getting inundated, that is Chennai, the capital city of Tamil Nadu on Monday morning.   "Since morning there is no power supply in our locality. I tried calling the call centre...

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IANS 05 November 2021
Pan Macmillan India said on Friday it would comply with a Bombay High Court order restraining the publication of Vijaypat Singhania's book 'An Incomplete Life' and would seek legal advice on the remedies available to it.   "On the evening of 4 November 2021, the Bombay High Court...

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IANS 05 November 2021
The Rajya Sabha has asked its members to settle their air travel bills at earliest to clear the dues of Air India.   The Upper House's Secretariat in its letter to the members said that 'Air India has stopped extending credit facility for purchase of air tickets against exchange...

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IANS 03 November 2021
In a fresh twist, Mumbai's former Commissioner of Police Param Bir Singh has informed a government-appointed probe panel that he has no further evidence to share in the corruption allegations he had levelled against former state Home Minister Anil Deshmukh.   He had made this...

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Ajay Kumar (The Leaflet) 03 November 2021
In order for arbitration and other alternative dispute resolution (ADR) mechanisms to become true ‘alternatives’ to the court system, State policy must work towards improving the courts system rather than pushing ADR at the cost of courts, writes AJAY KUMAR.   “To no one will we sell,...

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Moneylife Digital Team 03 November 2021
While allowing a taxpayer’s writ petition against faceless assessment and quashing an order, a demand notice and a penalty notice issued by the income-tax (I-T) department, the Bombay High Court (HC) ruled that the officer who has passed the order for faceless assessment alone can file an...

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IANS 03 November 2021
Multiple factors have led to sub-optimal performance of the asset reconstruction companies (ARCs) in the country, said the Reserve Bank of India (RBI) Committee.   The ARC framework was designed to allow originators to focus on their core function of lending, by removing sticky...

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Moneylife Digital Team 02 November 2021
The crisis-hit Infrastructure Leasing and Finance Ltd (IL&FS) group has addressed a debt of about Rs52,200 to date. The group also maintained its earlier estimate of resolving debt of Rs61,000 crore, representing a resolution of 62% of overall—fund-based and non-fund based—the debt of over...

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IANS 02 November 2021
The income-tax (I-T) department has rolled out the new Annual Information Statement (AIS) on the compliance portal, providing a comprehensive view of information to a taxpayer with a facility to capture online feedback.   The new AIS can be accessed by clicking on the link "Annual...

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Moneylife Digital Team 02 November 2021
The income-tax (I-T) department has filed a case Sterling Biotech Ltd and its promoters Nitin Sandesara and Chetan Sandesara, under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015, say reports. The Sandesara family, on the run from over $700 million in...

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TruthInAdvertising.org 02 November 2021
Last week the US Federal Trade Commission (FTC) put the multilevel marketing (MLM) industry on notice that its time for using deceptive income claims without facing penalties (of as much as $43,792 per violation) is up.   With the support of all five FTC commissioners, the agency...

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