GST collection for February rises 18%; tops Rs 1.30 lakh crore mark for 5th time

NEW DELHI: Goods and services tax (GST) collections stayed above Rs 1.30 lakh crore-mark for the fifth straight time in February, official release by the ministry of finance showed on Tuesday. Gross GST revenue collected in the month of February is Rs 1,33,026 crore, 18 per cent higher than Rs 1,13,143 crore revenue collected in … Read more

bharatpe: Ashneer Grover resigns as BharatPe MD

NEW DELHI: Amidst the ongoing controversy at BharatPe, Ashneer Grover – the beleaguered co-founder and MD of the company – is said to have resigned from the fintech firm with immediate effect. Grover’s resignation comes almost a day after he lost an arbitration that he had filed with the Singapore International Arbitration Centre (SIAC), claiming … Read more

Madhabi Puri Buch appointed as first woman chief of Sebi

NEW DELHI: The government on Monday appointed Madhabi Puri Buch as the new Sebi chairman with an initial term of three years, making her the first woman to lead a financial regulatory body in the country. Buch, a former executive of ICICI Bank, was a member of Sebi for nearly five years but was not … Read more

India’s crude cost tops $100, sharp fuel price hike looks inevitable

NEW DELHI: India’s crude cost has topped $100/barrel on the back of a surge in global benchmark prices and the US dollar breached the Rs 75-mark to widen the under-recovery on petrol and diesel to over Rs 10, making a prolonged spell of upward revision in fuel prices inevitable without tax cuts. Available government data … Read more

frl: Reliance moves in to take charge of Future Retail

NEW DELHI: Several employees at Kishore Biyani-led Future Retail (FRL) stores, including Big Bazaar, have started receiving offer letters from Reliance Retail, asking them to join the subsidiary of the oil-to-telecom conglomerate. The move, which comes amidst a lengthy legal battle with Amazon, is seen as a “hostile takeover” bid by Mukesh Ambani’s Reliance Industries … Read more

idfc first bank: Bank CEO gives $500,000 of shares to his chauffeur, home help

NEW DELHI: The chief executive officer (CEO) of IDFC First Bank gifted $530,000 worth of shares he owns to his driver, trainer, and helpers at home and office in an unusual gesture of philanthropy. V Vaidyanathan gave 900,000 shares or 3.7% of his holding in the private sector lender. The recipients will use the funds … Read more

cyrus mistry: Tata-Cyrus Mistry case: SC to hear review petition of Shapoorji Pallonji Group on March 9

NEW DELHI: The Supreme Court on Monday agreed to hear review petition by Shapoorji Pallonji Group in connection with Tata Group vs Cyrus Mistry case. The petition by Cyrus Mistry will be heard in an open court on March 9. In March 2021, the Supreme Court had upheld Tata Sons‘ decision to sack Cyrus Mistry … Read more

ABG Shipyard case: CBI examines former CMD Rishi Agarwal

NEW DELHI: The Central Bureau of Investigation (CBI) on Thursday examined former chairman and managing director (CMD) of ABG Shipyard in connection with Rs 22,842 crore bank fraud case, news agency PTI reported. The CBI had booked ABG Shipyard Ltd and its then chairman and managing director Rishi Kamlesh Agarwal, along with others, for allegedly … Read more