BUSINESS
How fake invoices below Rs 50K led to the recovery of record wealth from Piyush Jain
Cash worth around Rs 200 crore, gold bars and sandalwood oil have been found from his premises in Kanpur and Kannauj, following which more agencies have been roped in to probe the matter. IANS now takes a look at how it all started. Tip of the iceberg was fake invoices of Rs 50,000
New SEBI norms may impact capital raising plans of some unicorns
Yash Ashar, Partner and Head, Capital Markets, Cyril Amarchand Mangaldas, said the companies impacted are particularly those which may not have any other use of capital and where the existing shareholders are not keen to sell.
I would like Reliance's story to be told in the book which has no final chapter: Mukesh Ambani
Speaking at the Reliance Family Day event, Ambani shared imperatives or must-dos that all at Reliance must embrace and make it a way of life. "We must never become complacent of what we have achieved in the past. Companies that become laid-back because of their previous achievements become footnotes in a history book.
Aluminium industry asks govt not to impose anti-dumping duty on import of Caustic Soda
Post imposition of mandatory BIS license for Caustic Soda imports, almost 95 per cent of foreign Caustic Soda producers are already eliminated because they have not acquired the requisite BIS license for exporting Caustic Soda to India. The BIS Standards are therefore a significant non-tariff trade barrier in place to safeguard the domestic Caustic Soda industry and reduce imports of Caustic Soda based on the quality standards, AAI said.
Equities settle positive with all sectoral indices up
The Sensex and Nifty settled at 57,897 points and 17,233 points, respectively, up 0.83 per cent and 0.86 per cent from their previous close, respectively. Accordingly, all sectoral indices rallied during the day's trade, NSE data showed. Nifty auto and Nifty consumer durables rose the most. Among the stocks, Sun Pharma, Asian Paints, Mahindra & Mahindra, Ultra Cement, and NTPC were some of the top gainers, rising 3.1 per cent, 2.8 per cent.
Fintech startup MetaMap raises Rs 530 cr in new Series B funding
The new capital brings the company's total funding to date to Rs 630 crore and will be used to invest in product development and furthering its international expansion as it furthers its mission to help billions of people unlock online services and experience upward mobility.
MoUs worth Rs 18,900 Cr inked at J&K Real Estate Summit
A total of Rs 18,900 crore worth Memorandums of Understanding (MoU) and investment proposals were signed on Monday at the ongoing first ever real estate summit held in the Union Territory of Jammu & Kashmir.
'Fare Offensive': Airlines launch special offers to attract passengers
SpiceJet and AirAsia India have launched special offers. Domestic airlines on Monday launched attractive sales offers to lure passengers during the holiday season, even as rising Covid infections have caused apprehensions amongst the general public.
Defer GST rate hike on textiles, footwear: CAIT to FM
In a letter to the minister, CAIT termed the move as 'illogical' and 'beyond the canon of GST tax structure', particularly at a time when the domestic trade in the country is on the verge of recovery from the colossal damage caused due to the last two spells of Covid-19.
Piyush Jain -- the man who threw up India's biggest cash haul
In his hometown Kanpur, Jain still rides an old scooter and his house was extremely modest though he recently renovated it. He owns a Qualis and a Maruti and when cash spilled out of his house, his neighbours were shocked. "He was just another businessman in the perfume business and we never imagined that he would have so much cash stacked in his house. He never flaunted his wealth and even his lifestyle was very middle class," said R.K. Sharma.
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