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  • Godrej Aerospace expands tie-up with Rolls-Royce, wins Rs 200 crore contract
    on March 21, 2018 at 9:26 am

    MUMBAI: Godrej Aerospace, a unit of Godrej & Boyce, has expanded its partnership with aerospace major Rolls-Royce by bagging a Rs 200-crore contract which will involve the group investing Rs 50 crore in a new facility.The company also announced the inauguration of a Rs 50-crore centre of excellence in the city today, which will further enhance its manufacturing capabilities in the aero engine industry, the company said in a statement.Expanding its partnership, Rolls-Royce has awarded a Rs […]

  • Submitting fake bills for tax relief can land you in serious trouble. Here's how
    on March 21, 2018 at 8:57 am

    With March 31 fast approaching, you must be receiving reminder mails from your company's accounts/HR department asking you to claim any reimbursements you are entitled to and provide bills for the same before the end of the financial year. However, while submitting the proofs, make sure you only provide real bills, as giving fake proof can land you in trouble with the tax department. You could end up with a tax notice for under-reporting of income.Often companies reimburse certain expenses of […]

  • By 2020, M&M will have new set of EVs on road: CFO
    on March 21, 2018 at 8:56 am

    Talking to ET Now, VS Parthasarathy, Group CFO & Group CIO, M&M, says $3 billion worth upcoming businesses could be the value creators in the next three years.Edited excerpts: The early projections hint at a below normal monsoon right now. What are you reading into this as far as the tractor volumes are concerned? After the strong recovery that we have seen in the tractor volumes in the last two quarters, do you think that trend could continue or do you think monsoon is going to be a […]

  • RCom gets bondholders' yes to sell assets to Jio for trimming debt
    on March 21, 2018 at 8:23 am

    Reliance Communications has got approval from investors holding $300 million worth of bonds for sale of assets to Reliance Jio Infocomm, and sale of the company’s real estate assets. Bond holders have also accepted part pre-payment of the bonds that were due to mature in 2020.“The holders of the Company’s US $300 million Bonds, at their meeting held on 20 March 2018 in London, have approved with overwhelming majority the sale of assets to Reliance Jio Infocomm Limited and also […]

  • Numetal moves NCLT over Essar Steel bid
    on March 21, 2018 at 8:20 am

    KOLKATA: Numetal has said it has approached NCLT Ahmedabad bench to reinforce its eligibility to bid for Essar Steel. Any decision by the Committee of Creditors meeting on Wednesday on Numetal’s resolution will be subject to final order of NCLT, it said in an official statement.Numetal, one of the bidders for Essar Steel, the other being ArcelorMittal, is a consortium led by VTB Capital of Russia. Other key shareholders of Numetal include TyazhPromExports (TPE) of Russia and Indo […]

  • A Rs 2,400-cr fraud charge adds an ugly twist to this year's biggest insolvency fight
    on March 21, 2018 at 8:07 am

    MUMBAI: In a fresh twist to the ongoing takeover battle over Binani Cement, resolution professional (RP) Vijaykumar V Iyer has moved the National Company Law Tribunal (NCLT), Kolkata, alleging fraudulent transactions of about Rs 2,400 crore involving the “corporate debtor” (Binani Cement) that are “undervalued, extortionate, preferential.”In his March 13 application, the RP asked the court to take action and “appoint an appropriate investigation agency to […]

  • 91 billionaire defaulters on Modi's no-fly list, more names to follow
    on March 21, 2018 at 8:05 am

    By Bhuma Shrivastava and Shruti SrivastavaIndia is clipping the wings of businessmen it considers a flight risk.Weeks after the nation’s largest bank fraud investigation began, lawmakers, bureaucrats and court officials began drafting tighter rules to prevent citizens fleeing abroad with unpaid dues.A Mumbai court last week ordered top executives of indebted Aircel Ltd., owned by Malaysian billionaire T Ananda Krishnan, from leaving India as the failed mobile-carrier slipped into […]

  • Vikas Khemani on how to make big money and reduce risks 
    on March 21, 2018 at 6:49 am

    ET Now in conversation with Vikas Khemani, President & CEO, Edelweiss Securities, Keshav Bhajanka, ED, Century Plyboards and N K Kakani, Simplex Infrastructure on the big picture and how thematic investing helps reduce the risk of anything going against you.Edited excerpts:Is it true that most of the brokerages are now officially marketing Gift City because Singapore exchange (SGX) is going to be off the radar? Vikas Khemani: Gift City is a very long-term promising destination in my […]

  • IBM launches AI-powered 'Watson Assistant' for businesses
    on March 21, 2018 at 6:30 am

    LAS VEGAS: Tech giant IBM today announced the formal launch of Watson Assistant, a smart enterprise assistant powered with artificial intelligence (AI), cloud and the Internet of Things (IoT) and it can be accessed via voice or text interaction.The smart enterprise assistant is aimed at helping businesses enhance their brand loyalty and transform customer experiences even while keeping the data private and secure, IBM said.The announcement was made by Ginni Rometty, CEO of IBM, during her […]

  • Rajasthan government to soon notify openings for 1.08 lakh government jobs
    on March 20, 2018 at 6:05 pm

    JAIPUR: The Rajasthan cabinet today decided to release notification for 1.08 lakh government jobs in various departments by next month, state parliamentary affairs minister Rajendra Rathore said.Briefing the deliberations of the state cabinet, Rathore said the notification of 108 types of 1.08 lakh jobs will be released by April end and recruitment process will be completed by July in a phased manner.He said the cabinet gave its nod for setting up a transgender welfare board and the board will […]

  • MahaRERA slaps penalty on 8 Mumbai Builders for violation of rules
    on March 13, 2018 at 5:28 pm

    MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has slapped penalty of Rs 2 lakh to Rs 10 lakh on 8 builders in Mumbai for advertising real estate project without mentioning the authority’s website address and advertising a non-registered project. MahaRERA has taken this action on Suo-Motu basis.Of the 8 realty developers, builder Tridhatu Morya has been fined Rs 10 lakh for advertising a non-registered project. Rest of the 7 builders including Sumit Group, The Wadhwa […]

  • Meet the Amit Shah of China: How a professor-turned-politician powers Xi Jinping
    on March 12, 2018 at 9:02 am

    Now that a constitutional amendment abolishes presidential term limits, it has become possible for China's president Xi Jinping to rule as long as he lives. China's shift from a collective rule indicates how it prizes Xi who has articulated the ambition of China becoming the world leader by displacing the US. Xi has turned China from an inward nation to a country focused on winning the world. Behind Xi's ideological offensive is brainy professor-turned-politician Wang Huning who has guided two […]

  • Trump Jr on Kolkata visit to raise toast to city’s Tower success
    on February 20, 2018 at 6:13 am

    KOLKATA: Donald Trump Jr will raise a toast and deliver a speech at a dinner hosted to celebrate the success of Trump Tower Kolkata on Tuesday evening. In attendance will be 100-odd businessmen who have booked apartments in the project and select names from the city’s real estate fraternity.Harsh Neotia of Unimark Group, one of the three partners developing the Rs 600-crore project, said, “It is a privilege to welcome Donald Trump Jr to Kolkata. The success of the project reflects […]

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