The Reserve Bank of India (RBI) on Tuesday cautioned the public against misuse of certificate of registration issued by it to Surat-based Keshavlal Leasing and Finance Limited."The Reserve Bank stated that the company has not surrendered the original certificate. It had cancelled the certificate in October 2014 in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934," a statement issued by the banking regulator stated.RBI cancelled certificate of registration number "B.01.00384" dated August 2, 2001 issued by it to Keshavlal Leasing and Finance Limited, which has its registered office in Surat. The cancellation was done on October 30 this year.Following cancellation of registration certificate, the company, the banking regulator clarified, cannot transact the business of a non-banking financial institution under Section 45-I of the RBI Act."Following cancellation of registration certificate, the company cannot transact the business of a

RBI cautions public against misuse of certificate of registration issued to Surat-based NBFC

BS Reporter

The Supreme Court-appointed special investigation team today submitted documents related to the Gulberg Society massacre case of 2002 riots in the special trial court here.Judge P B Desai scheduled the next hearing for December 11 after the special prosecutor R C Kodekar handed over the documents to advocate S M Vora, representing victims and witnesses, for inspection.The court had on December 2 had directed the SIT to segregate documents related to Gulberg Society incident from its closure report on Zakia Jafri's complaint against the then Gujarat Chief Minister Narendra Modi and others.A day after the Godhra train burning incident, 69 people, including former Congress MP Ehsan Jafri, were killed by a mob at Gulbarg Society here on February 28, 2002.Advocate Vora had said that the SIT report, filed in 2012 on the plea of Ehsan Jafri's wife Zakia Jafri, has more than 25,000 pages, so it should separate the Gulberg case- related documents and submit them in this court.The SIT's closure

SIT submits in court Gulberg Society massacre case documents

Press Trust of India

Gujarat anti-corruption bureau has arrested Sunilkumar Milak, owner of the firm Value Packaging, on the charge of forging documents and helping the former IAS officer Pradeep Sharma get undue benefit of Rs  29.5 lakh from Welspun Group. Sharma was arrested by the ACB on September 30 for allegedly accepting a bribe of Rs  29.5 lakh from Welspun when he was the collector of Kutch in 2004.According to the ACB, the former IAS officer alloted a piece of land to the company at a price which was 25 per cent of the prevailing rate, causing a loss of Rs  1.2 crore to the exchequer. In return, the Welspun Group allegedly made Sharma's wife a 30 per cent partner in Value Packaging, one of its subsidiaries. Later she received Rs  29.5 lakh as a profit share, the ACB said.

Pradeep Sharma case: owner of Value Packaging held by ACB

Senior Bharatiya Janata Party (BJP) leader and in-charge of the party in Gujarat, Dinesh Sharma, on Tuesday said here that the Gujarat government is concerned about farmers demanding higher minimum support prices (MSP) for cotton and groundnut."The Gujarat state government is aware about the issue and they are in touch with the central government to take appropriate decision for the benefit of cotton growing farmers," Sharma said when asked about widespread protests across the state by farmers.Demanding increase in the MSP of cotton as well as groundnut, farmers in the Saurashtra and Kutch regions have been agitating since last few weeks. Recently, an RSS-affiliated farmers body, Bhartiya Kisan Sangh (BKS) had organised a rally as well as submitted a memorandum to the district collector.Meanwhile, former Gujarat state Agriculture Minister Dilip Sanghani said that farmers' demand for Minimum Support Price is legitimate and they should get the desired price."Earlier, the Congress was in

State govt concerned about farmers, says senior BJP leader

With most of the value added steel products in India being imported, one of the leading steel makers in the country - Essar Steel - has turned its focus on making value added products to cater to the emerging demand from defence sector."Defence is an important sector, where the company has entered in a big way. India currently imports 100,000 tonnnes of steel annual to meet defence requirement. Essar Steel's efforts are towards reducing imports and make the country self-reliant in critical sector like defence," said,  M Venkatraman, senior vice-president, head- R&D, Product Development & Application Engineering, Essar Steel.He added that this is line with the government's plan to indigenise defence sector production. In fact, Essar Steel has in recent months won an order from the Defence Metallurgical Research Laboratory (DMRL), Hyderabad to develop special Quenched and Tempered (QT) with a strength level of 1700 MPa (megapasacl) for use in latest version of battle tanks. Acco

Essar Steel to focus on value added steel products for growth

After foraying into diagnostics, Sterling Addlife India Ltd, which owns and manages the largest chain of corporate hospitals in Gujarat, has now launched a comprehensive healthcare application for mobile phones that would enable its patients to have access to medical services such as doctors and diagnostic appointments etcLaunching the application here in Ahmedabad, Rajiv Sharma, chief operating officer, Sterling Hospitals, said that it will also help patients to access personal medical reports as well as ordering medicines. Sterling claims that it is the first hospital chain in Gujarat to have such a mobile application. "We are trying to position ourselves as a contemporary and technologically advanced chain of hospitals," Sharma said. The application, which is compatible for android and i-Phone,  allows a user to book an appointment with a doctor, or a diagnostic test, view the pathology reports directly on mobile, get information about all doctors at the hospital, as well contact in

Sterling Hospitals launches phone app for healthcare

In a twist on how Silicon Valley companies are financed, several technology luminaries have banded together to effectively do the work of a traditional venture capital firm.Microsoft co-founder Bill Gates, Yahoo co-founder Jerry Yang, Twitter co-founder Evan Williams and others have invested $25 million in Change.org, the petitions website, to help it expand.Others in the group include prominent business leaders like the billionaire Richard Branson, eBay co-founder Pierre M Omidyar and LinkedIn co-founder Reid Hoffman. In all, two dozen investors are contributing from $250,000 to a few million dollars each."It would have been a lot more straightforward to raise money from a single institution," said Ben Rattray, Change.org's chief executive. "But we had a group of people who are passionate about our mission and who had experience building global enterprises, who we can turn to for advice."Change.org lets users create online petitions that call on governments and companies to act on spe

Tech giants join hands to fund Change.org

Electricity generation has outperformed the industrial production index for five months in a row this financial year, even as the broader economy is struggling to grow

A paradox of weak industrial growth

Business Standard

In a structured deal, KKR will infuse Rs 300 cr initially to acquire equity worth 26% in IARC

KKR to buy controlling stake in IARC

It is necessary and expedient to amend Kolkata Municipal Corporation Act

Landlords, tenants to benefit from KMC Bill passed in House

Assam has incurred a cumulative loss of more than Rs 10,000 cr since 2008-09 due to under-payment of crude oil royalty from oil exploration companies

Rs 10k cr lost due to under-payment of oil royalty: Gogoi

West Bengal govt is working on a Rs 400-cr project to develop tourism infra in Sundarbans on a PPP model

Rs 400-crore project to develop Sundarbans infrastructure

The Bill was tabled keeping in mind the interest of the farmers so that they get the right price of their produce

West Bengal: Farm marketing produce amendement Bill passed

State orders action against errant officers

In Odisha, funds for govt schemes parked in unauthorised bank accounts

Demand waiver of five pc VAT on these food items

Odisha traders to stop import of pulses, wheat products from tomorrow

Chief minister Naveen Patnaik has demanded an allocation of Rs 3200 crore for Odisha in the Railway Budget of 2015-16 for an array of projects as the state readies to augment its rail infrastructure to cope up with industrial boom."I had a meeting with the Railways minister Suresh Prabhu and urged the minister to recognise the poor rail density in the state which is hampering the pace of industrial growth. I asked him to allocate Rs 3200 crore for new lines, doubling, electrification and passenger amenities. We have also demanded completion of all ongoing railway projects", Patnaik told reporters in New Delhi.Keeping in view the auspicious Nabakalebar festival of Jagannath Temple, Puri due by July 2015, Patnaik stressed on completion of the yatri complex at Puri railway station by March 2015.He has also called for Budgetary provision for rail infrastructure in tribal dominated districts and areas affected by Left Wing Extremism in the state.The chief minister apprised the Railway minis

Naveen seeks Rs 3200 cr allocation in Rail Budget

The state government is set to raise the pitch for introduction of a green cess on raising of minerals and also demand compensation amounting to nearly Rs 2700 crore towards CST (central sales tax) loss at the meeting of the empowered committee of state finance ministers on Thursday."We are going to reiterate the demand for a green cess on minerals raised in the state on  the lines of a cess imposed by the central government on coal produced in states. Our other major contention is compensation towards CST reduction up to 2013-14", said an official at the finance department.The Centre has so far sanctioned only Rs 1,303.08 crore for Odisha towards loss in CST till the end of 2010-11. For 2011-12 and 2012-13, the state government's loss has been pegged at Rs 869.58 crore and Rs 1,087.67 crore respectively. The loss for 2013-14 has been computed at Rs 870 crore.In April 2007, the central government had cut the CST rate from four per cent to three per cent and later to two per cent in Jun

Odisha to pitch for green cess in GST meet

Power Ministry has estimated investments to the tune of $50 bn in the power transmission sector for which it has sought participation of the private sector

Centre to clear $2-bn worth transmission projects in south

The 'error-free Pahani' taluks are Hunsur with 1,000 land records, K R Nagar 250, H D Kote and Periyapatna with 400 each

Land records updated in 188 villages of Mysuru

APCC is an inter-governmental organisation formed in 1969 under the aegis of the United Nations Economic and Social Commission for Asia and the Pacific

Asian and Pacific Coconut Community meet in Kochi

Madhya Pradesh is seeking support from the management and the technical team of Startup Village to devise a strategy to build a similar incubator

MP govt in talks with Startup Village to set up incubator

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