Page 953 - Company News

I-T Dept issues final notice to Shree Cement over Rs 4,000 cr tax liability

The Income Tax Department has claimed a demand of Rs 4,000 crore against cement manufacturer Shree Cement for tax evasion

Jio Financial Services, HDFC Bank frontrunners to buy Paytm's wallets biz

Paytm has been in talks with JFSL since November last year and it reached out to HDFC Bank just before the RBI barred its Payments Bank from accepting more deposits from February 29

Waaree Renewable Technologies bags solar project worth Rs 547 crore

The projects are scheduled to be completed in December, 2024 as per the term of the order

RBI bars Paytm Payments Bank from carrying out transactions starting Feb 29

'Persistent non-compliance' by company, says order barring it from credit transactions or top-ups in customer accounts

L&T bags 'large' contract for hydrocarbon biz from IndianOil Adani Ventures

The scope of work includes engineering, procurement, construction, and commissioning of offsite tankages, bullets and other associated facilities on lump sum turnkey basis

South Korean court acquits Samsung chief Lee Jae-yong of financial crimes

Court said the prosecution failed to sufficiently prove that the merger between Samsung C&T and Cheil Industries was unlawfully conducted with aim to strengthen Lee's control over Samsung Electronics

Fuel retailers post Rs 69K cr profit in Apr-Dec, higher than pre-oil crisis

The combined net profit of IOC, BPCL and HPCL in April-December FY24 was better than their annual earning of Rs 39,356 crore in pre-oil crisis year, regulatory filings by them showed

Paytm's CEO says there would be no layoffs, working with RBI: Report

Paytm's CEO Vijay Shekhar Sharma assured the employees that they will figure everything out soon

Can go to NCLT to enforce Sony merger deal after SIAC rejects petition: Zee

Sony scrapped the merger on Jan. 22, ending a deal that could have created one of India's biggest TV broadcasters, claiming breaches of contract

Fintech major Paytm denies any ED investigation into money laundering

Meanwhile, the company has cautioned against speculation on reasons that prompted the Reserve Bank of India (RBI) to take action against Paytm Payments Bank

SIAC cites lack of jurisdiction, rejects Sony's plea against Zee Ent

The Singapore arbitration panel cites lack of jurisdiction for rejection

Incumbent FMCG brands continue to corner 65% market share in India

Dominance of general trade, low penetration of e-commerce helping large brands in India, says report

Diversion ahead: Will Paytm's Vijay Shekhar Sharma overcome roadblocks?

At Paytm Payments Bank's presentation in 2016, Vijay Shekhar Sharma had said he saw no challenges, unless roadblocks came later

No ED investigation against company or CEO for money laundering: Paytm

The ED had visited premises of the company and some fintech firms like Razorpay in September 2022 for money laundering investigations against some of the merchants that were using their platforms

Startup world gauges spillover effect of edtech firm Byju's web of crises

Byju's income grew to Rs 5,298.43 crore in FY22. But its losses widened to Rs 8,245.2 crore in FY22. Its total expenses for FY22 rose by 94 per cent to Rs 13,668.44 crore

Uber, Ola will have to fall in line as Karnataka govt fixes fare for taxis

City taxis and those operating through app-based aggregators like Uber and Ola will now have to follow the new fare structure announced by the Karnataka Transport Department.

IndiGo likely to induct a few B737 Max aircraft for the first time

Wet leasing Max planes being considered as about 20% fleet is grounded due to Pratt and Whitney engine issues

Tata Steel proposes additional support package for Port Talbot workers: CFO

Tata Steel UK will be closing its first blast furnace by mid-this year while the second furnace is planned to be shut down in the second half of 2024, he said

Byju's pays Jan salaries; Raveendran says moving mountains to make payroll

"To be clear, this fight is only against a few vested interests who were trying to sabotage the company by impeding the rights issue," CEO Raveendran said in a letter addressed to the employees

Delhi HC dismisses plea seeking probe into Indiabulls Housing Finance

The court stated that the balance sheets or other material placed on record are already available on the website of these companies and are thus already in the public domain