Category: BUSINESS

New Delhi, May 30 (DIN NEWS) Markets regulator Sebi has sought information from Jet Airways following a complaint of alleged fraudulent practices. In a filing to the stock exchanges today, the airline said last month the regulator sought views of the statutory auditors and the audit committee on certain allegations. However, the carrier did not elaborate on the complaint. The disclosure came in response to a clarification sought by the BSE on reports about alleged fraudulent practices by Jet Airways promoter Naresh Goyal and fall in its share prices. Referring to…

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New Delhi, May 29 (DIN NEWS) The law under which companies are required to spend two per cent of their profit towards CSR activities provides an “excellent legal framework” to create a bridge between society and corporates, Commerce and Industry Minister Suresh Prabhu today said. Under the Companies Act, 2013, certain class of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards corporate social responsibility (CSR) activities. He said that India is probably the only country in the world with…

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Mumbai, May 29 (DIN NEWS) Indian equities took a breather today after three sessions of winning run, with the benchmark Sensex dropping over 216 points after participants queued up to book profits in banking counters, among others, amid weak global cues and foreign fund outflows. With investors locking in gains towards the middle of the session, the 30-share Sensex ended at 34,949.24, down 0.61 per cent. The BSE gauge touched a low of 34,922.18 in intra-day. The Sensex had risen 820.57 points in the previous three sessions. Earlier today, the benchmark…

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Mumbai, May 28 (DIN NEWS) Indian equities rose for a third straight day, with both benchmark indices Sensex and Nifty closing above the key 35,000 and 10,700 levels buoyed by a sharp decline in global crude oil prices and a continuous recovery in the rupee. The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65. Among the Sensex constituents, Sun Pharma, Coal India, L&T, Asian Paints and SBI emerged as the top five gainers. Sector-wise, pharma, bank, auto…

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New Delhi, May 28 (DIN NEWS) To further bolster the domestic aviation market, the government will finalise the passenger charter as well as the air cargo policy this year, Civil Aviation Minister Suresh Prabhu has said. India is one of the fastest growing domestic aviation markets in the world, clocking double-digit growth for more than two years. In April this year, domestic air passenger volume surged 26 per cent to 11.51 million compared to the year-ago period. “This year, we will finalise the passenger charter. We will (also) finalise the cargo…

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Mumbai, May 27 (DIN NEWS) Dairy co-operative Amul is aiming to grow at 20 per cent this financial year, to touch a group turnover of close to Rs 50,000 crore, on the back of growing consumer portfolio, premiumisation and rising demand, a top company official said. “The Amul brand, which clocked a turnover of over Rs 40,000 crore last financial year, will grow at 20 per cent this year,” RS Sodhi, the managing director of Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets milk and milk products under the Amul…

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New Delhi, May 27 (DIN NEWS) The ED is set to move a special court in Mumbai to seek permission for “immediate confiscation” of about Rs 7,000 crore assets of designer diamond jeweller Nirav Modi under the recently promulgated Fugitive Economic Offenders Ordinance. The agency, empowered by the Union government to enact the new power in the country, will seek an official declaration to categorise Nirav Modi as a “fugitive” based on its prosecution complaint (charge sheet) filed before a special court in Mumbai last week under the Prevention of…

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Jaipur, May 26 (DIN NEWS) The Congress said today that the government should rollback the increase in fuel prices instead of “showing fitness”, apparently referring to Union ministers and BJP leaders posting videos of their workouts on social media. “Someone is doing push-ups and someone is showing fitness (in other ways) but fuel prices are rising,” Congress leader Sachin Pilot told reporters in Jaipur. His comments came after Union ministers Rajyavardhan Singh Rathore and Kiren Rijiju posted videos on social media as part of a ‘fitness challenge’, which has also…

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New Delhi, May 26 (DIN NEWS) Union Minister Arun Jaitley today said the Modi government has provided a ‘scam-free’ governance during the last four years, and the country has transformed from being a part of the fragile five’ to the “bright spot” on global stage. The focus of the government will now be on consolidation of the initiatives taken in the past, Jaitley said in his Facebook post on completion of four years of the NDA government. In a post titled ‘My Reflections on the NDA Government after Completion of…

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