DoT allocates 5G trial spectrum to MTNL – Times of India

MTNL will conduct trials in the Najafgarh area of Delhi. (Representative image) NEW DELHI: The department of telecom (DoT) on Wednesday allocated the spectrum for 5G field trials to the state-owned telecom firm MTNL with C-DoT as its technology partner, according to an official source. Reliance Jio, Bharti Airtel and Vodafone Idea were given the … Read more

Cases against fugitives, economic offenders to be actively pursued: Nirmala Sitharaman – Times of India

NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday said the government will actively pursue cases against economic offenders to bring back defrauded money of banks. The remark came soon after the Enforcement Directorate (ED) said the Debts Recovery Tribunal (DRT) has sold shares worth over Rs 5,800 crore of United Breweries Limited (UBL) that were … Read more

No I-T scrutiny on cash deposits up to Rs 2.5 lakh by housewives post-demonetisation: ITAT – Times of India

NEW DELHI: Cash deposits of up to Rs 2.5 lakh by housewives post demonetisation will not come under I-T scrutiny as the Income Tax Appellate Tribunal (ITAT) has held that such deposits cannot be treated as income of the assessee. Ruling on an appeal filed by an individual, the Agra bench of ITAT said the … Read more

5 industry bodies had objected to IT rules – Times of India

NEW DELHI: At least five industry bodies had written to the Union government between April and May urging it to reconsider the implementation of the IT Rules in its current form before they came into effect. These letters, written by CII, FICCI, Assocham, US India Strategic Partnership Forum (USISPF) and the US India Business Council … Read more

Wealth of India’s super-rich slips 4.4% to $12.83 trillion in 2020 due to rupee fall: Report – Times of India

MUMBAI: In spite of Mukesh Ambani, Gautam Adani, the Poonawallas and many other Indians seeing a jump in their net worth in the pandemic-hit 2020, overall wealth of the country’s super-rich dipped 4.4 per cent to $12.83 trillion in the year due to the rupee’s fall, and so did their tally, says a report. The … Read more

Indian companies’ m-cap grew fastest last year, presents financial stability risk: Economists – Times of India

MUMBAI: Indian companies’ market capitalization has grown at the fastest pace last year among major economies despite contraction in GDP, economists from SBI said, flagging the risks to financial stability it poses. Further, retail investors have shown higher interest in markets and their numbers have increased by 1.42 crore in FY21 and another 44 lakh … Read more

Companies must go green to survive: Mukesh Ambani – Times of India

NEW DELHI: Mukesh Ambani, Asia’s richest man, plans to transform each of the units under his refining-to-retail conglomerate to create a sustainable business model as Reliance Industries (RIL) chases a net carbon-zero goal by 2035. “We have no option as a society, as a business but to really adopt a sustainable business model,” Ambani told … Read more

Petrol, diesel under GST: HC asks Centre to decide – Times of India

KOCHI: The Kerala high court has asked the central government to decide on a representation seeking to bring petroleum products under goods and services tax (GST) regime. A division bench comprising chief justice S Manikumar and justice Shaji P Chaly asked the government to take a decision on the representation raising the demand within six … Read more

Government eases listing norms for companies having over Rs 1 lakh crore m-cap – Times of India

NEW DELHI: Companies that have a market capitalisation of more than Rs 1 lakh crore at the time of listing can now sell just five per cent of their shares, with the latest amendment in rules, a move that will be beneficial for the government during the proposed initial public offer of LIC. Such entities … Read more

Indications of revival in economic activity as states get into unlock mode: Survey – Times of India

NEW DELHI: With states easing lockdown curbs due to declining number of Covid-19 cases, there are immediate indications of improvement in economic activity as companies are hopeful of better performance in the next 6 to 12 months, according to a survey. About 60 per cent of 212 companies, which participated in the survey conducted by … Read more