GST officials detect tax fraud of Rs 224 crore by 8 companies

GST officials detect tax fraud of Rs 224 crore by 8 companies

Thursday, 14 March 2019 | PTI | Hyderabad

Officials of the Central GST have unearthed an alleged tax fraud of Rs 224 crore by a group of eight companies, which generated fake invoices worth Rs 1,289 crore. A key suspect involved in the racket has been arrested and Rs 19.75 crore was recovered from him, a press release from...

Sensex, Nifty log 3rd straight gains; bank stocks show the way

Thursday, 14 March 2019 | PTI | Mumbai

Indian bourses on Wednesday looked beyond global market uncertainties to continue their unabated rally for a third day in a row, with the Sensex and the Nifty logging gains led mainly by banking and energy stocks. The 30-share BSE index ended 216.51 points, or 0.58 per cent, higher at 37,752.17. The...

Baba Ramdev's Patanjali raises bid value to Rs 4,350 cr to take over Ruchi Soya

Baba Ramdev's Patanjali raises bid value to Rs 4,350 cr to take over Ruchi Soya

Wednesday, 13 March 2019 | PTI | New Delhi

Baba Ramdev's Patanjali Ayurved has increased its bid value by around Rs 200 crore to Rs 4,350 crore for bankruptcy-bound Ruchi Soya, and the revised offer is likely to be considered by lenders soon. Adani Wilmar, which emerged as the highest bidder in August last year after a long drawn battle...

NCLAT reserves order on RCom plea to release funds

NCLAT reserves order on RCom plea to release funds

Wednesday, 13 March 2019 | PTI | New Delhi

The National Company Law Appellate Tribunal Wednesday reserved its order on a petition by Reliance Communications which has approached the tribunal seeking the release of income tax refunds to clear dues of Ericsson. Lenders of RCom have opposed the plea. After hearing both the sides, the NCLAT bench headed by Chairperson S...

Spicejet tanks 8 pc after India bans Boeing 737 Max 8 planes

Spicejet tanks 8 pc after India bans Boeing 737 Max 8 planes

Wednesday, 13 March 2019 | PTI | New Delhi

Shares of SpiceJet slumped 8 per cent in morning trade on BSE Wednesday, after the country banned Boeing 737 Max 8 planes following the Ethiopian Airlines crash. On Tuesday night, the Directorate General of Civil Aviation (DGCA) announced its decision to "immediately" ground the Boeing 737 Max 8 aircraft. The decision came...

Rupee rises by 8 paise to 69.63 vs USD in early trade

Rupee rises by 8 paise to 69.63 vs USD in early trade

Wednesday, 13 March 2019 | PTI | Mumbai

The rupee appreciated by 8 paise to 69.63 against the US dollar in opening trade Wednesday, driven by sustained foreign fund flows and higher opening in domestic equity market. The rupee opened at 69.71 at the interbank forex market then gained further ground and touched 69.63, displaying gains of 8 paise...

Sensex shoots up 481 points

Sensex shoots up 481 points

Wednesday, 13 March 2019 | PTI | Mumbai

The BSE benchmark Sensex Tuesday soared over 481 points on intense buying mainly in financial, energy and telecom stocks amid strong foreign fund inflows and positive global cues. The 30-share BSE gauge settled 481.56 points, or 1.30 per cent, higher at 37,535.66. The broader NSE Nifty reclaimed the psychological 11,300-level and...

Resolver launches portal to address consumer grievances

Wednesday, 13 March 2019 | PTI | New delhi

Start-up Resolver India Tuesday launched a portal to help in speedier resolution of consumer complaints. Speaking at the launch here, Resolver India co-founder and Chief Executive Officer (CEO) Pratyush Singh said the company's goal is to break down the walls between consumers and businesses by building trust and understanding through a...