BUSINESS
Waiting to resolve subsidy deadlock, recover Rs 500 cr: Hero Electric CEO
"In our recent exchanges with the Department, we have been made aware of the efforts by the Department to find a solution that passes muster by due process at the ministry level and are confident that a practical solution is round the corner," Sohinder Gill, CEO, Hero Electric, said in a statement.
MP consumer court asks Byju's, SRK to return fees & pay compensation
The action came on the basis of a complaint filed by an Indore-based woman Priyanka Dikshit. The woman had complained that she was encouraged to take admission to Byju's coaching (course) for preparation of IAS in 2021 and had deposited Rs 1.8 lakh fees, but no coaching facility was provided to her.
Woman in cockpit: DGCA's show cause notices to Air India CEO, head of flight safety
A show cause notice has also been issued to the chief of flight safety for delaying the investigation and not reporting to the concerned authority, official sources said. Both CEO and chief of flight safety are to file a reply to the show cause notice, said DGCA sources.
Global markets turn cautious again amid concerns of banking crisis
US officials are already in talks of providing a possible FDIC receivership to First Republic. A lot is at stake for Fed now, as it considers the next rate action given the stubbornly high inflation, elevated wage growth, credit crunch scenario and uncertainty in global growth, the note said.
Wall Street darlings, ESG funds may be on the way out
They're currently weathering a "perfect storm of negative sentiment," said Robert Jenkins, head of global research at Lipper, a financial data provider, CNN reported. Despite the gloomy forecast, Jenkins remains optimistic. He sees this as a natural phase of the market's evolution. A new, more efficient system is taking shape that incorporates ESG standards into the bedrock of stock valuations, he said.
Remitted money for overseas acquisitions, cross-border transactions duly vetted: Byju Raveendran
The ED conducted search and seizure operations at three premises of Raveendran and his company Think & Learn Private Limited, under the provisions of the Foreign Exchange Management Act (FEMA). The ED said that BYJU's "remitted Rs 9,754 crore to various foreign jurisdictions in the name of overseas direct.
Rising tide of interest in doing business with India
Just days after his landmark trip, Pret A Manger, a trendy British sandwich chain, set up its first outlet in the commercial capital of Mumbai, as it bet on the country's growing middle class, CNN reported. The case for investing in India - a nation of 1.4 billion - is clear, and only bolstered by recent geopolitical shifts.
FM asks CBIC to begin automated GST return scrutiny by next week
In a review meeting of the CBIC, she directed the board to intensify its drive against fake billing and input tax credit (ITC). Sitharaman desired that the CBIC may undertake a comprehensive root cause analysis by studying the typology of cases already booked, and come up with recommendations on technology-based solutions to address the menace and prevent its occurrence.
No conclusions of any alleged wrong-doing in Sebi's application to SC: Adani Group
A spokesperson for Adani Group said Sebi is conducting an investigation into the allegations levelled by a foreign short-seller on January 25, 2023 and also into market activities before and after that date. "We understand that Sebi has approached the Supreme Court seeking more time to conclude its investigation. We have welcomed the investigation, which represents a fair opportunity for everyone to be heard and for all issues to be addressed.
'Complex matter', Sebi seeks more time from SC for Hindenburg-Adani probe
Sebi, in an application moved in the apex court, said: "Applicant/SEBI most respectfully submits that keeping in view the forgoing circumstances, it would take further time to arrive at verified findings and conclude the investigation... for ascertaining possible violations related to mis-representation of financials, circumvention of regulations and/or fraudulent nature of transactions in respect of 12 suspicious transactionsa... given the complexity of the matter, SEBI in the normal course would take at least 15 months for completion of the investigation of these transactions, but is making all reasonable endeavours to conclude the same within six months."
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