Lok Sabha passes Bill for quick prosecution in cheque bounce cases
25.07.18 - TEAM PT

The Lok Sabha passed the Negotiable Instruments (Amendment) Bill that allows a court hearing a cheque bounce case to direct the drawer — the person who wrote the cheque — to pay interim compensation to the person who filed the complaint.

The interim compensation, to be ...

More than 2.25 lakh companies may be struck off
08.06.18 - TEAM PT

Continuing its drive against shell companies, the government-appointed task force has identified nearly 2.25 lakh shell firms which will be removed from the register of companies in the current financial year. 
The Ministry of Corporate Affairs (MCA) has already struck off over 2.26 lakh companies for ...

Debt-conscious millennials ditch credit cards, threaten industry
06.03.18 - LISA FU*

Millennials have been accused of disrupting many industries, from newspapers to brick-and-mortar stores. Credit cards appear to be next in line.

Just one out of three millennials carries plastic, according to a survey, compared to the majority of older Americans. In addition, a Fed survey ...

Singh brothers took Rs 473 cr out of Fortis without board approval
09.02.18 - TEAM PT

There seems to be no end to troubles for the Fortis promoters, Malvinder Singh and Shivinder Singh. First the accusation of siphoning off of $300 million by a US-investor, then the Delhi High Court verdict in favour of Japanese drug maker Daiichi Sankyo, and now ...

New business policy will play as catalyst for development - Brahm Mohindra
26.11.17 - TEAM PT

New Delhi: Referencing to the strenuous efforts being made by the Punjab Government for infrastructural and industrial development of the state, Punjab Minister for Health and Family Welfare Brahm Mohindra today said that Punjab Government's New Industrial and Business Development Policy-2017 will play as catalyst for ...

McDonald's to shut all 169 outlets in North and East India
21.08.17 - TEAM PT

Fast food chain McDonald's India today said that it has terminated the franchise agreement for 169 fast-food outlets in North and East India run by Connaught Plaza Restaurant Ltd or CPRL.
McDonald's India had a 50:50 joint venture with CPRL, a company led by Vikram Bakshi. ...

In this Indian town, ‘Billionaires’ work as labourers and peons in factories
each and every employee, including laborers are multi-millionaires
05.07.17 - team pt

Can you believe that even factory workers can be millionaires? And not one, two or even ten, but most of them! Literally!

Yes. There is a factory which has each and every employee, including laborers, peons and watchmen who are multi-millionaires.
Factories in motown Sanand are faced ...

RBI gives borrowers additional 60 days to repay loans
21.11.16 - TEAM PT

In view of cash crunch being faced by borrowers, the RBI today provided additional 60 days for repayment of housing, car, farm and other loans worth up to Rs 1 crore. 

This is applicable to loans payable between November 1 and December 31, the RBI said ...

India's largest airwave auction that will offer very high data speed starts; Jio, Vodafone, Airtel and Idea in fray
01.10.16 - TEAM PT

The Department of Telecommunications (DoT) has commenced the country’s biggest ever spectrum auction wherein airwaves worth Rs 5.66 lakh crore are put up for sale.

The auction kicked off at around 10 am and will continue till 7 pm.

Seven mobile operators, including Reliance Jio, Bharti Airtel, ...

No plans to return to India,I am in‘forced exile’:Mallya
29.04.16 - pt team

Embattled tycoon Vijay Mallya has said he is in a "forced exile” and has no plans to return to India where things are flying at him "fast and furious.”

Mallya, whose passport was revoked this month, said he wanted a "reasonable” settlement with creditor banks for ...

India asks UK to deport Vijay Mallya
28.04.16 -

India said on Thursday it had asked Britain to deport Vijay Mallya, the liquor tycoon who flew to London last month as bankers pressed him to repay about $1.4 billion owed by his defunct Kingfisher Airlines.
According to a report by Reuters the Ministry of External ...

SC allows SEBI to sell Sahara properties worth Rs 40,000 cr
29.03.16 -

The Supreme Court on Tuesday asked the Securities and Exchange Board of India (Sebi) to initiate the process of selling 87 "unencumbered" properties of Sahara group, whose title deeds are with the market regulator, to generate the bail money for release of its chief Subrata ...

Here's why one of the world’s richest men buys his clothes at flea markets
11.03.16 - Peter Holley

With a net worth of more than $40 billion (Rs. 2,68,000 Crores), Ingvar Kamprad, founder of the furniture chain Ikea, is among the richest people in the world.
He is also, it appears, among its most frugal.
This week, the eccentric billionaire -- number nine in last ...

Pause, Vijay Mallya. Rs 515 Crores Settlement from Diageo is Stopped for now.
07.03.16 -

A tribunal today temporarily halted a Rs. 515 crores settlement to be paid by spirits giant Diageo to liquor baron Vijay Mallya, after he resigned as chairman of Diageo unit United Spirits. 

The court - the Debt Recovery Tribunal (DRT) - ruled in favour of a ...




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