It’s a deja vu moment for co-founder and non-executive Chairman Nandan Nilekani.
CCI has ordered the probe under Section 26 (1) of the Competition Act, 2002, following a complaint by Air Works India (Engineering) Pvt Ltd against GHIAL and GMR Aero Technic Ltd (GAT), a wholly owned subsidiary of GMR Aerospace Engineering Ltd.
DHFL’s total debt stands at about Rs 84,000 cr and MFs own a small portion of it.
CEO Salil Parekh and CFO Nilanjan Roy, accounting malfeasance, have been recused from the matter to ensure independence of the probe, Infosys non-executive chairman Nandan Nilekani said in a statement to regulators.
Bhatia has filed the plea seeking information about Gangwal’s alleged breach of shareholders' agreement.
The tribunal had quashed the order but partly allowed disgorgement of the Rs 13 crore fee from the auditors concerned.
The new postings were approved by the Appointments Committee of the Cabinet.
RIL was also the first company to reach Rs 8 lakh crore mark in August last year.
PMC Bank crisis: SC refuses to entertain plea by account holders for lifting restrictions on cash withdrawals
On Friday, the top court in India refused to entertain a plea filed on behalf of scam-hit PMC bank account holders.
A new revelation has added big twist to PMC fraud. The bank learned of the missing Rs 10.5 crore cash only while the internal inquiry into the bank's financial transactions was being conducted on the orders of an RBI-appointed administrator.
According to the existing law, all intermediaries including the ones supplying services to outside India were subject to GST at the rate of 18%. ‘Intermediaries’ are specifically defined under the GST Act as a broker who arranges the supply.
Not only is opportunistic behaviour going to worsen India’s $200 billion-plus bad loan crisis, but now that everyone from the government’s sleuths to the courts are joining the melee, the ensuing chaos will limit the recovery.
In a year’s time, the rural FMCG growth rate has gone down to a quarter of what it was in Q3 of 2018, and for the first time in seven years, rural growth has dipped below that of urban, said Sunil Khiani, head (retail measurement service), Nielsen South Asia.
Bhatia and his family promoted InterGlobe Enterprises (IGE, parent company of IndiGo) have now filed a petition in the US district court of Maryland against Gangwal group and IndiGo's independent director Anupam Khanna.
There has been an acute liquidity crunch among the wholesale and smaller retailers in India - main reason behind the sluggish growth in rural markets. Thus, HUL and other consumer goods companies have been providing credit support in some instances.
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