India’s Finance Ministry tightens definition of ‘beneficial owners’ under PMLA

NEW DELHI: India’s Finance Ministry has tightened the definition of beneficial owners under the anti-money laundering law, mandating reporting entities like banks and crypto platforms to collect information from their clients. As per the amendments to the Prevention of Money Laundering Act (PMLA), 2002 any individual or group holding 10 per cent ownership in the […]

Punjab body GMADA fetches Rs 1,935 crore from e-auction of properties

CHANDIGARH: The e-auction of various properties of the Greater Mohali Area Development Authority (GMADA) has received a thumping response as the authority fetched Rs 1935.88 crore from the process, said an official statement here on Tuesday. It said the auction process, which commenced on February 17, concluded on Monday evening. Properties auctioned include group housing, […]

Why didn’t Sebi get to bottom of issues raised by Hindenburg, asks Former RBI governor

NEW DELHI: Former RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their USD 6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? […]

Congress accuses Narendra Modi government of ‘favouritism’ in small arms deal with Adani Group

NEW DELHI: The Congress on Thursday accused the Narendra Modi government of indulging in “blatant favouristism” and giving the Adani group “undue advantage” in major small arms contracts for the armed forces. Posing a set of three questions to Prime Minister Narendra Modi as part of the party’s “Hum Adani ke Hain Kaun” series, Congress […]

Only JPC probe into Adani row can bring out truth: Congress

NEW DELHI: The Congress on Thursday said no panel other than a joint parliamentary committee can bring out the truth in the Adani row and the industrialist’s relationship with the prime minister and asserted that it will raise the demand in Parliament when it meets again on March 13. Congress general secretary, communications, Jairam Ramesh […]

Adani-Hindenburg report: Supreme Court orders setting up of six-member committee to probe recent share market crash

NEW DELHI: The Supreme Court on Thursday, 2 March, ordered the setting up of a six-member committee headed by former apex court judge AM Sapre to look into various regulatory aspects for stock markets, including the recent Adani Group shares crash triggered by Hindenburg Research’s fraud allegations. A bench of Chief Justice DY Chandrachud and […]

Rajesh Malhotra takes charge as Principal Director General, Press Information Bureau

NEW DELHI: Rajesh Malhotra has today assumed charge as Principal Director General, Press Information Bureau (PIB). Malhotra takes over after the superannuation of Shri Satyendra Prakash yesterday. Previously, Malhotra, an Indian Information Service (IIS) Officer of the 1989 batch, had been working in Ministry of Finance since January 2018. During the critical COVID-19 Pandemic, he […]

Madhya Pradesh government presents Rs 3.14 lakh crore budget; Congress stages walkout from Assembly over LPG price hike

BHOPAL:The Madhya Pradesh government on Wednesday presented a Rs 3.14 lakh crore state budget for 2023-24, even as the Opposition Congress staged a walkout from the Assembly on the issue of hike in the LPG cylinder price. Congress members including former ministers Tarun Bhanot, Vijay Laxmi Sadho and Jitu Patwari created ruckus in the House […]

Nine Adani firms end lower; group’s combined market capitalisation falls to Rs 6.81 trillion

NEW DELHI: Stocks of nine out of ten listed firms of the Adani Group closed in the red on Monday, with the flagship Adani Enterprises tumbling over 9 per cent as investors continued to desert the counters. The conglomerate, whose business interests span from sea-ports to airports, edible oil and commodities, energy, and cement to […]

Gautam Adani isn’t the only Indian tycoon in trouble. Look at Vedanta

By Andy Mukherjee | Bloomberg NEW DELHI: Highly leveraged Indian tycoons are having a rough time. Gautam Adani’s $236 billion infrastructure empire has shrunk by more than three-fifths in a month. But while his relentless rise and spectacular fall hog headlines, a smaller storm may be brewing for another well-known magnate. Anil Agarwal’s once-London-listed Vedanta […]

I will get personally involved: German Chancellor on India-EU FTA

NEW DELHI: German Chancellor Olaf Scholz on Saturday underlined the importance of the proposed free trade agreement (FTA) between India and the European Union for boosting two-way trade and said he will personally get involved to see its early fruition. After holding wide-ranging talks with Prime Minister Narendra Modi, Scholz said the finalisation of the […]

Narendra Modi reviews 9 infrastructure projects worth over Rs 41,500 crore

NEW DELHI: Prime Minister Narendra Modi chaired the meeting of 41st edition of PRAGATI, the ICT based multi-modal platform for Pro-Active Governance and Timely Implementation, involving Centre and State governments, earlier today. In the meeting, nine key infrastructure projects were reviewed. Among the nine projects, three projects were from the Ministry of Road Transport & […]

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