By Mehernosh Tata Globally, the Micro, Small and Medium Enterprises (MSMEs) segment plays a crucial role in employment generation, driving innovation, GDP growth, and augmenting overall economic
Author: Anil R Tikotekar
SFIO arrests Bhushan Steel’s former CFO Nitin Johri on charges of financial fraud – The Economic Times
The country’s top fraud watchdog, SFIO, has arrested Bhushan Steel’s former chief financial officer and director Nittin Johri, according to a senior official. The late evening
Lenders take 57% haircut in 94 cases worth Rs 1.75 lakh crore – The Economic Times
Banks have taken a huge 57 percent haircut in the 94 large accounts worth Rs 1.75 lakh crore which were resolved in FY19, recovering just Rs 75,000 crore
For the first time in history, income tax filings fall in FY 2019 – The Financial Express
Against the revised estimates, direct tax collection in FY19 fell short by `50,000 crore, and in the current financial year, the budget estimates for direct
IBC resulted in recovery rate of 43%, figure is respectable: CRISIL | Business Standard News
The advent of Insolvency and Bankruptcy Code (IBC) has resulted in a recovery rate of 43 per cent, which, according to rating agency CRISIL, is
Former Bhushan Steel CFO Nittin Johri arrested for fraudulent practices | Business Standard News
The Serious Fraud Investigation Office (SFIO) has arrested former chief financial officer of Bhushan Steel Nittin Johri for fraudulent activities, including filing false documents with various banks, according
Residential flats with parking, other facilities will attract lower GST, rules West Bengal AAR – The Hindu BusinessLine
When paying for your dream home, don’t pay the differential Goods & Services Tax (GST) — lower GST for the dwelling unit and higher GST
Slow down in FY19 on demand, investment, exports: FinMin report – The Economic Times
The proximate factors responsible for this slowdown include declining growth of private consumption, tepid increase in fixed investment & muted exports. India’s economy slowed down
Jet Airways bidders show no expressions of interest–Economic Times
Bidders for Jet AirwaysNSE -12.46 % so far appear uninterested in following up on their expressions of interest, dealing a major blow to the early revival of
Deloitte: IL&FS board seeks punitive action against Deloitte, BSR
The government-appointed board of Infrastructure Leasing & Financial Services has proposed punitive action against Deloitte Haskins & Sells (DHS) and BSR & Co, part of the KPMG network, said
PNB ruined Gitanjali Gems to hide its misdeeds: Mehul Choksi – The Economic Times
The fugitive diamantaire said the employees of Gitanjali were harassed and its stocks and servers were confiscated New Delhi-Key accused in the PNB fraud case, Mehul
IL&FS accounts can finally be called NPAs: NCLAT green light to banks – The Financial Express
The NCLAT had in February prohibited banks from recognising any IL&FS group accounts as non-performing assets without first seeking approval from the tribunal. The National
Inflation forecasts not accurate at times of low food inflation: RBI study – The Economic Times
Inflation forecasts by the central bank have gone awry only at time of low food inflation. In most other periods, forecasts have remained almost close to
Huge gap in 12 NPA cases’ dues with liquidation value: IBBI – The Economic Times
The resolution of 12 large accounts were initiated by banks as directed by the Reserve Bank of India (RBI). The 12 large non-performing assets (NPAs
GST: Why it may be premature to cheer the surge in April GST collection – The Economic Times
If we look back into the previous year, average collections for March-April 2018 stood at Rs 103,500 crore, which was 20.4 per cent higher than
exports: Handling your shipment should be as easy as ordering on Swiggy, Zomato – The Economic Times
By Troels Stovring The complexity that exists in the international trade and logistics industry has become a significant barrier for growth of many small and medium sized enterprises (SMEs)
Cyber criminals hide in the ‘dark web’ to remain anonymous – The Economic Times
By Tushar Kaushik Bengaluru: An increasing number of cyber criminals are using the dark web — the encrypted part of the internet that cannot be tracked — to shop
You can get compensation for delayed re-credit if account debited due to failed ATM transaction – The Economic Times
About 16,000 complaints, or 10 percent of all customer grievances at the banking ombudsman offices in FY18, were registered under the head ‘account debited but cash not
NBCC: Jaypee Infra insolvency: Homebuyers want NBCC bid to be reconsidered; say no faith in private cos – The Economic Times
In 2017, NCLT admitted the application by an IDBI Bank-led consortium seeking resolution of Jaypee Infratech. Distressed homebuyers of debt-ridden Jaypee Infratech Thursday demanded that
Amrapali’s lawyers given flats & penthouses: Forensic auditors to SC – The Economic Times
The hearing in the matter remained inconclusive and would continue on May 8. In yet another startling revelation, the embattled Amrapali Group gave away flats and penthouses