India@75 - Past, Present & Future

Markets regulator Sebi has said it found "no manufacturing activity" at Gensol Engineering's electric vehicle (EV) plant in Pune with only 2-3 labourers present when a National Stock Exchange (NSE) official visited the site.
These revelations were part of markets regulator Sebi's interim order issued on April 15 following a complaint received in June 2024 alleging manipulation of Gensol's share price and misappropriation of funds.
In its order, the Securities and Exchange Board of India (Sebi) found discrepancies as well as misleading disclosures to investors by Gensol Engineering, a company promoted by brothers Anmol Singh Jaggi and Puneet Singh Jaggi.
One of the disclosures came from an investigation conducted by the NSE, which revealed a lack of manufacturing activity at Gensol's EV plant -- Gensol Electric Vehicle Private Ltd -- at Chakan in Pune.
During a site visit to the facility on April 9, an NSE official found only 2-3 labourers present.
"It was found that there was no .

When probed by Sebi regarding the basis of such valuation of Rs 350 crore, Gensol failed to submit any explanation or rationale

Realty firm Macrotech Developers' net debt fell by 7 per cent in the January-March quarter to nearly Rs 4,000 crore on strong housing sales and fund collections from customers.
Macrotech Developers, which sells properties under the Lodha brand, is one of the leading real estate developers in the country.
In its latest operational update, Macrotech Developers noted that the company's net debt reduced by Rs 320 crore during the January-March quarter to Rs 3,990 crore.
The company's net debt stood at little over Rs 4,300 crore at the end of December 31, 2024.
The reduction has been achieved despite significant investment in acquiring land parcels for future development.
The company buys land outright and also partners with landowners to develop housing projects.
Macrotech Developers' internal cash flow remained strong last fiscal year due to record sales bookings and healthy fund collections from customers.
Macrotech Developers' sale bookings grew 21 per cent last financial year to

In its latest operational update, Macrotech Developers noted that the company's net debt reduced by Rs 320 crore during the January-March quarter to Rs 3,990 crore

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In what was billed as the world's first half-marathon for androids, just four out of 21 robotic runners completed the race in Beijing's southern tech hub of E-Town within the allotted four hours

Seeking an end to caste differences, Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat has called upon members of the Hindu community to strive for social harmony by embracing the principle of "one temple, one well, and one cremation ground" for all.
Bhagwat, on a five-day visit to Aligarh, spoke to 'swayamsevaks' at two 'shakhas' at HB Inter College and Panchan Nagri Park and emphasised that achieving true social unity was paramount for India to fulfil its global responsibility for peace.
RSS sources said Bhagwat underscored the significance of "sanskar (values)" as the bedrock of Hindu society, urging its members to build a society rooted in tradition, cultural values and moral principles.
He urged the 'swayamsevaks' to reach out to all sections of society, inviting them into their homes to spread the message of harmony and unity at grassroots level.
Bhagwat stated that the "family" remains the fundamental unit of society, built upon strong family values derived from ...

His visit, which commenced on April 17, involves daily meetings with RSS Pracharaks from the Braj Region as part of preparations for the RSS centenary celebrations starting this Vijayadashami

India's top-rung IT services companies TCS, Infosys and Wipro disappointed with their March quarter and full year FY25 scorecards on multiple counts and collectively signalled heightened caution up ahead, as macro uncertainties compounded by global trade woes eroded sentiments and weighed on business outlook.
The overhang of macro concerns reflected on several fronts, from muted outlook to hesitation to commit upfront on wage hikes, as management commentary from India's billion-dollar IT powerhouses remained largely sobering in the just-ended quarter.
Hiring trends fared a tad better. TCS, Infosys, and Wipro cumulatively added 1,438 employees between Q3 and Q4 FY25, marking a shift, and indeed a reversal, from declines of over 900 seen in the previous quarter.
With US tariff posturing swiftly resetting global trade dynamics, the tone of business commentary in Q4 was punctuated with references to underlying uncertainties and caution.
"The global industry environment remained uncerta

With US tariff posturing swiftly resetting global trade dynamics, the tone of business commentary in Q4 was punctuated with references to underlying uncertainties and caution

The Mumbai Metropolitan Region Development Authority (MMRDA) on Friday presented a Rs 40,187 crore-budget for the megapolis.
Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement. The revenues have been estimated at Rs 36,939 crore, and the body chaired by Deputy Chief Minister Eknath Shinde will be borrowing Rs 22,000 crore.
This will result in a budget deficit of Rs 3,249 crore, which the body plans to bridge through land sales, issuance of bonds, financial assistance from the government, and loans from financial institutions, the statement said.
The ongoing metro line projects have been earmarked Rs 10,969 crore of expenditure in the new fiscal, which is a fourth of the overall expenditure..
Over Rs 5,697 crore have been allotted for multiple tunnel projects which are going across the megapolis, with Rs 2,684 crore earmarked for the four-lane road running under the Sanjay Gandhi National 

Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement

The Rajya Sabha on Thursday returned the Finance Bill 2025 to the Lok Sabha, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements, thus completing the 2025-26 budgetary exercise that started on February 1.
The House also returned the Appropriation Bill (3) with a voice vote.
Earlier in the day, Finance Minister Nirmala Sitharaman had moved the two bills in the House.
The Lok Sabha had passed the Finance Bill on March 25 and passed the Appropriation Bill on March 21.
Replying to the debate later in the evening, she said the tendency of the finance ministry would be to exercise caution and not let go of revenues.
"But, here we wanted to use this opportunity to show our respect for Indian taxpayer. We have moved towards setting Rs 12 lakh as threshold up to which no one will have to pay any tax," Sitharaman said.
The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 lakh crore, an increase of 7.4 per cent ov

The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 trillion, an increase of 7.4 per cent over the current fiscal

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India@75 - Past, Present & Future

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