Business Archives - Page 47 of 61

Mukesh Ambani receives death threat, email demands Rs 20 cr

editor October 28, 2023

MUMBAI: Mukesh Ambani, the chairman of Reliance Industries, received emails threatening to shoot him to death if he did not pay Rs 20 crores. The threatening email said, "If you don't give us 20 crore rupees, we will kill you, we have the best shooters in India," according to the Mumbai police. Following receipt of the email, Mumbai's Gamdevi Police filed a case against an unidentified individual under sections 387 and 506 (2) of the IPC and commenced an inquiry, based on the complaint of Mukesh Ambani's security in-charge. [caption id="attachment_4586" align="alignnone" width="300"] Mukesh Ambani receives death threat, email demands Rs 20 cr[/caption]

Breaking News Business header Jammu and Kashmir National Political

IT department sensitises officers about taxation, financial matters

editor October 28, 2023

JAMMU: An outreach and sensitization programme was held on Friday by the Income Tax Department and the Deputy Commissioner's office to increase public knowledge and comprehension of financial and tax issues. During the programme, Assistant Accounts Officers and Drawing and Disbursing Officers from various departments participated in an interactive session led by Income Tax Officer Jammu, Rajneesh Gupta, and Deputy Commissioner Income Tax Jammu, Dr. Mohnish Digra. In addition to highlighting the need of financial literacy, Dr. Mohnish Digra underlined India's goal of being a developed country by 2047. He emphasised the number of income tax returns filed over the years and the steady rise in net direct tax receipts.Dr. Mohnish Digra also spoke to the audience about a worrying trend in which people are reporting incorrect deductions in order to obtain fraudulent refunds, which causes losses for the government. Employees were reminded that the Income Tax Department keeps a careful eye on these kinds of deductions, and DDOs were made aware of their responsibility to confirm the validity of such claims. Rajneesh Gupta emphasised the severe repercussions of claiming fictitious refunds, which include case review, tax recovery, and penalties under section 270A up to 200% of the tax avoided. He pointed out that such behaviour may result in prosecution under Income Tax Act section 276C, which carries a harsh sentence of up to seven years in prison.Gupta also provided the audience with information regarding the possible remedies for correcting errors, which include filing amended forms for Assessment Years 2021–22 and 2022–23 under section 139(8A) of the IT Act and paying 25% and 50% of the applicable penalties in addition to the tax. For Assessment Year 2023–2024, ITR revisions are permitted without incurring penalties. Interactions took place during the programme to address a variety of topics, including how to accurately file ITRs, how to use the Income Tax chatbot, what deductions are allowed under the Income Tax Act of 1961, and how tax calculation advantages both under the old and new tax regimes. Attendees included PO POSHAN, Renu Bhasin, Assistant Commissioner General, Manisha, and other district officers. [caption id="attachment_4571" align="alignnone" width="300"] IT department sensitises officers about taxation, financial matters[/caption]

Business header Jammu and Kashmir National Political

CS Dr.Mehta flags off 400 person J&K contingent of Amrit Kalash Yatra for New Delhi

editor October 28, 2023

JAMMU: At the Conventional Centre Jammu here, Chief Secretary Dr. Arun Kumar Mehta officially launched the Amrit Kalash Yatra under the banner of "Meri Mati Mera Desh" (Mitti Ko Naman Veeron Ko Vandan) to New Delhi today. In addition to a sizable number of PRI members from throughout the UT, those in attendance included Additional Chief Secretary (ACS), Home, R K Goel; Commissioner Secretary, GAD, Sanjeev Verma; Secretary Culture, Dr Syed Abid Rasheed Shah; and other Administrative Secretaries, IGP Jammu, Div Com Jammu, DC Jammu.The chief guest and other dignitaries lit a traditional lamp to kick off the programme. The Chief Secretary also gave the attendees a pledge on PanchPran (Pratigya) that included a developed nation by 1947. During the programme, the Chief Secretary and other dignitaries also kept some Mitti in the Kalash (pot) under the'muthibharmitti'. He described it as a symbolic action to demonstrate support for fellow citizens of our magnificent country. Speaking to the crowd, the Chief Secretary announced that 83 lakh participants from Jammu and Kashmir made up the largest group of participants in Meri Maati Mera Desh, based on the population ratio of the country's States and Unions.He praised everyone who helped make this a reality and called this accomplishment extraordinary. Dr Mehta also expressed gratitude to the relevant departments for contributing to the UT's tremendous performance. According to him, a lot of activities were held at the block and panchayat levels. Every home provided Mitti (dirt), which was mixed throughout the programme to commemorate the nation's vast cultural, linguistic, and socioeconomic variety. According to the Chief Secretary, UT's success in a number of areas may be attributed to the dedication of its staff and administration. He implied that the rapid improvement the UT has made over the last few years should make every household in J&K proud.According to Dr. Mehta, UT today prides itself on being among the top performers in the nation in practically every programme run at the national level. Dr. Syed Abid Rasheed Shah, the secretary of culture, has earlier highlighted the panchayat and block level events that took place during this event's initial phase. He also spoke to the representatives who would take part in this month's final programme in New Delhi on the 31st. Prior to this, the Chief Secretary planted a tree on campus to launch a plantation effort as part of "Vasudha Vandhan." In order to commemorate the construction of the greatest number of these structures in the UT, he also unveiled a Shilaphalakam on the same grounds.It should be noted that the Amrit Kalash Yatras gather mitti from every family at the block level and are to be transported to New Delhi by volunteers in order to create a national monument that will be named AmritVatika. The Chief Secretary congratulated all parties involved on the program's excellent year-end. About four hundred volunteers from each UT block and ULB make up the J&K contingent. The groups would be headed by cultural officers and district-level nodal officers to ensure a seamless transition of this yatra to the nation's capital. [caption id="attachment_4567" align="alignnone" width="300"] CS Dr.Mehta flags off 400 person J&K contingent of Amrit Kalash Yatra…

Business header National Political

Jio Launches Super-Fast Internet Everywhere in India

editor October 27, 2023

27-OCT : Jio, one of India’s top internet providers, has done something incredible. They’ve brought super-fast internet to the farthest parts of India using satellites. This means people in places that couldn’t get good internet…

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1 web Satellite Service Ready To Connect All Parts Of The Country From Next Month : Mittal

editor October 27, 2023

New Delhi, Oct 27: The OneWeb satellite communication service, according to Bharti Airtel Chairman Sunil Bharti Mittal, is prepared to link every region of the nation starting next month. Speaking at the opening session of the India Mobile Congress 2023, Mittal stated that Airtel has expanded its 5G services over the whole nation, including 20,000 villages and 5,000 towns and cities, since the service's inception last year. He stated that Airtel has been providing internet access to rural and isolated areas with funding from the Universal Services Obligation Fund, and that satellite technology now makes it possible to connect the entire nation."The OneWeb constellation is prepared to serve both the nation and the world. From next month onwards, everybody, anywhere in the nation, including isolated or challenging regions, will be able to connect," Mittal stated. After merging with Eutelsat, OneWeb will now do business as Eutelsat OneWeb, with its main office located in London.Holding the largest share of 21.2% in the combined company is Bharti Enterprises. OneWeb, sponsored by Bharti Enterprise, has finished assembling its constellation of more than 618 low-Earth orbit satellites, enabling it to provide broadband internet services globally from space. [caption id="attachment_4537" align="alignnone" width="300"] 1web Satellite Service Ready To Connect All Parts Of The Country From Next Month : Mittal[/caption]

Breaking News Business header Jammu and Kashmir National Political

LG Sinha receives Amrit Kalash from all Blocks and Municipal bodies of Kashmir Division

editor October 27, 2023

SRINAGAR : Today, as part of the Meri Maati Mera Desh Campaign, Lieutenant Governor Manoj Sinha accepted the Amrit Kalash from all of the Kashmir Division's blocks and municipal bodies and gave the Amrit Kalash Yatra the green light to continue on to New Delhi via Jammu. Over 1.5 lakh special celebration activities were planned in J&K to commemorate the collection of Mitti and Rice from homes in all villages and urban wards from September 11th to September 30th, 2023. On this auspicious occasion, the Lieutenant Governor dedicated 4605 Shilaphalakams and 3952 Amrit Vatikas throughout the University of Technology to honour the memories of notable individuals who gave their lives and made priceless contributions to the advancement and prosperity of Jammu Kashmir."Meri Maati Mera Desh is a time to honour the bravery and selfless sacrifice made by freedom warriors. The Lt Governor stated in his speech that "the sacred flame of their selfless sacrifice and contribution of our charismatic forefathers in development will illuminate our journey of Amrit Kaal." It is a representation representing the dreams and ambitions of the average person in J&K, Utah, not an actual event. According to him, it's also a wake-up call to a new J&K that is advancing with a fresh sense of purpose and determination.The Lieutenant Governor urged cooperation in achieving the goal of a developed India while delivering the "Panch Pran" commitment to the populace. Through Panch Pran, Hon. Prime Minister Shri Narendra Modi Ji has opened our eyes to a new direction. "These five Pran will guide us in Amrit Kaal," he said. "Goal of developed India is to remove any trace of colonial mindset, take pride in our roots, unity and sense of duty among citizens." According to the Lieutenant Governor, Meri Maati Mera Desh is also a representation of renewed commitment, a chance for group introspection, and a fresh start for team J&K.He stated, "I am convinced that the campaign will create new strength and new confidence in the development journey of J&K UT." We will have to commit every moment of our life to nation building. To commemorate the event, the Lieutenant Governor also planted a sapling of Picea smithiana, or Himalayan spruce. The following people were in attendance: Dr. Syed Abid Rasheed Shah, Secretary of the Tourism Department; Rajeev Rai Bhatnagar, Advisor to the Lieutenant Governor; Junaid Azim Mattu, Mayor of SMC; Aftab Malik, Chairman, DDC Srinagar; DDC Chairpersons; members of PRIs; ULBs; and senior officers from Civil Administration, Police, and Security Forces. [caption id="attachment_4513" align="alignnone" width="300"] LG Sinha receives Amrit Kalash from all Blocks and Municipal bodies of Kashmir Division[/caption]

Breaking News Business header Jammu and Kashmir National

BRO achieves breakthrough of Kandi tunnel on Jmu-Poonch hwy

editor October 26, 2023

JAMMU: According to a defence official, the Border Roads Organisation made progress on the 260-meter Kandi tunnel on the Jammu-Poonch national highway on Wednesday. According to the spokesperson, despite challenging weather conditions such as heavy rainfall and landslides over the whole road stretch, the tunnel work, which started in March, has made exceptional progress. According to him, the first of the four tunnels has made progress towards its breakthrough, marking an important turning point in the ongoing "project Sampark" on the NH 144A Akhnoor-Poonch highway. It arrived ahead of schedule, showcasing the extraordinary know-how and tenacity of the BRO.According to the spokesman, the important project has been broken up into eight packages, and the BRO is significantly improving the road's vertical and horizontal profiles. Brigadier Tejpal Singh, Chief Engineer, Project Sampark, was present to witness this historic event. "Package 1 should be finished by June of the following year. After construction is finished, the tunnel will shorten the road by 2.5 kilometres, increasing connection and enabling quicker travel between Akhnoor and Poonch, according to the spokesperson. Additionally, he claimed that by facilitating faster and more seamless travel between Jammu and Poonch, this tunnel will be crucial in improving strategic connectivity for the military forces. "The BRO is committed to the timely and successful execution of all projects undertaken, and this achievement is a testament to its dedication to improving transport infrastructure and serving the nation," a spokeswoman stated. [caption id="attachment_4474" align="alignnone" width="300"] BRO achieves breakthrough of Kandi tunnel on Jmu-Poonch hwy[/caption]

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India poised to become third largest economy by 2030: S&P report

editor October 25, 2023

New Delhi October 25 : While global economic growth faced stagnation for the second consecutive month in September, India continued to shine as a beacon of economic resilience, expanding at one of the strongest rates…

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BYJU’s CFO Ajay Goel quits after audit, Golani gets additional charge of India CFO

editor October 24, 2023

NEW DELHI: Ajay Goel, the Chief Financial Officer of Edtech startup BYJU'S, has left the company and is going back to Vedanta after concluding the financial year 2022 audit process, the company announced in a statement on Tuesday. The edtech firm has brought in seasoned businessman Pradip Kanakia as a senior advisor, and President (Finance) Nitin Golani has been granted more authority as the Chief Financial Officer (CFO) of India to manage the company's financial operations. "I appreciate BYJU'S founders and colleagues helping me put together the FY'22 audit in just three months. During my brief but significant tenure at BYJU'S, I am grateful for the support I received," Goel stated.According to the statement, he will move on after the financial year (FY) 2022 audit procedures are over. Sources claim that because Goel's departure was still being processed, the company's scheduled board meeting to approve the outcome in the second week of October could not proceed. The company's audit process will be materially impacted by the CFO's resignation, therefore even if Goel's audit is complete, the auditor BDO (MSKA & Associates) will sign off on the audit after conducting due diligence. Following the completion of the procedure by BDO (MSKA & Associates), the FY 2022 result will be presented to the board of BYJU for adoption, the source stated.After working for the company for six months, Goel has resigned. In the first week of April, BYJU's announced his hiring as Group CFO; however, as a result of internal reorganisation, he was tasked with overseeing finance at the Indian level. Deloitte, BYJU's auditor, quit in June, two months after Goel joined the company, alleging a delay in the completion of the financial accounts for FY 2022. Deloitte Haskins and Sells announced in a letter to the board of Byju that it is leaving its position as Think & Learn's auditor three years before its contract expires because of a protracted delay in the edtech company's financial statement for the fiscal year ending March 31, 2022.Following the resignation of Deloitte Haskins and Sells, the company named BDO (MSKA & Associates) as its auditor. Kankia, a senior advisor at BYJU'S, has over 35 years of expertise, having held executive roles at Price Waterhouse and KPMG. Prior to moving into an operational role at Aakash following the acquisition by Byju for USD 1 billion in 2021, Golani served as Chief Strategy Officer at Aakash Education.He started his career with Grant Thornton Bharat and has since held positions at Accenture Strategy and MetLife. Byju Raveendran and Divya Gokulnath, the founders of BYJU, praised Goel for his work as CFO and showed faith in the new group. Golani declared he will assume the new position with a committed group of people. [caption id="attachment_4411" align="alignnone" width="300"] BYJU's CFO Ajay Goel quits after audit, Golani gets additional charge of India CFO[/caption]

Business header National Political

Coop Export Body NCEL Gets Rs 7,000 Cr Orders So Far; To Share Profit With Member Farmers: Shah

editor October 23, 2023

New Delhi, Oct 23: The recently formed National Cooperative for Exports Ltd (NCEL) has received orders of Rs 7,000 crore thus far, according to a statement made by Cooperation Minister Amit Shah on Monday. In addition to ensuring that the benefits of exports reach cooperative members, Shah announced the introduction of NCEL's new website and logo here. The cooperative will also share with these farmers approximately 50% of the export profit that exceeds the minimum support price.NCEL is now running its operations out of a makeshift office. We are hiring new employees. "NCEL has received orders totaling Rs 7,000 crore thus far," the minister stated at a national symposium. NCEL will support farmers in producing goods for the export market in addition to concentrating on increasing export revenue. According to him, it will also split profits with cooperative members who are farmers. At the MSP, NCEL will buy the goods that member farmers want to export. About half of the total earnings made by the NCEL from the exports will be deposited straight into the bank accounts of participating farmers. He stated that the profit will exceed the MSP.Five NCEL members received membership certificates from Shah during the symposium held at this Pusa site. Speaking at the event, Union Commerce Minister Piyush Goyal predicted that the establishment of NCEL will boost exports and support national development and rural transformation. As India is becoming more and more sought for on the international stage, the cooperative sector may take advantage of this opportunity, he said.The minister went on to say that the cooperatives should concentrate on producing high-quality goods that meet international criteria for the export market. Attendees included NCEL chief Pankaj Kumar Bansal, Cooperation Secretary Gyanesh Kumar, and Minister of State for Cooperation B L Verma. The Multi-State Co-operative Societies Act was used to register NCEL on January 25 of this year. It has an allowed share capital of Rs 2,000 crore, and cooperative societies engaged in exporting from primary to apex are able to join as members.It seeks to reach larger markets outside of India's borders in order to concentrate on exporting the excess that the country's cooperative sector has to offer. With approximately 29 crore members, there are over 8 lakh cooperative societies in the nation. [caption id="attachment_4371" align="alignnone" width="300"] Coop Export Body NCEL Gets Rs 7,000 Cr Orders So Far; To Share…

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