BUSINESS
Alibaba founder Jack Ma seen in China after long absence
The 58-year-old has kept a low profile since criticising China's financial regulators in 2020. Ma was the most high-profile Chinese billionaire to have disappeared amid a crackdown on tech entrepreneurs, the BBC reported. He recently returned to China after more than a year overseas, according to the South China Morning Post.
HARERA rejects Shree Vardhman's RC, freezes bank account for repeated non-compliance of rules
The authority in its order has said that it granted as many as 24 opportunities to Vardhman Infraheights to comply with the deficient requirements which were mandatory to renew or grant an extension to the registration of the project in question. But the promoter failed to comply with them.
'Default bail, if charge sheet not filed by 61st/91st day', Supreme Court dismisses Enforcement Directorate's appeal in DHFL case
A three-judge bench headed by Justice K.M. Joseph said the remand period will be calculated from the date, magistrate remand the accused and further added that an accused becomes entitled to default bail if the charge sheet is not filed by 61st or 91st day of the remand period.
First Citizens Bank reaches deal to purchase Silicon Valley Bank
"The 17 former branches of Silicon Valley Bridge Bank, National Association, will open as FirstCitizens Bank & Trust Company on Monday, March 27, 2023," Fox Business quoted the FDIC as saying in a statement. Customers of Silicon Valley Bridge Bank, National Association, should continue to use their current branch until they receive.
SC: Opportunity must be given to borrowers before banks declare their account as fraud
A bench headed by Chief Justice of India D.Y. Chandrachud affirmed the order passed by Telangana High Court and set aside the contrary view taken by the Gujarat High Court. The bench said decision classifying borrower accounts as fraudulent must be with reasoned order and further added that debarring borrowers from accessing.
Global financial stability at risk from banking turmoil: IMF chief
Georgieva said rising interest rates had put pressure on debts, leading to "stresses" in leading economies, including among lenders, the Guardian reported. She said the world economy would expand by just 3 per cent in this year as rising borrowing costs, combined with the war in Ukraine and scarring from the Covid-19 pandemic, would suffocate growth.
Indian e-grocery market to witness growth in tier 2, beyond in 2023
The significant growth in the Indian e-grocery market between 2019 and 2022 can be attributed to the adoption of quick commerce in cities. "The expansion of eGrocery is expected to continue in tier 2+ markets, driven by dominant players," according to RedSeer Strategy Consultants. e-grocery, which remained a minuscule fraction.
Maximum GST compensation cess rate for tobacco products capped
The cap is among the 75 amendments made in the Finance Bill, which was passed in Lok Sabha on March 24.
The compensation cess has been linked to the maximum rate of their retail sale price. As per the Finance Bill, pan masala will attract the maximum GST compensation cess of 51 per cent of the retail sale price per unit.
CoC stares at liquidation as IIHL and Torrent pause on bidding
The Supreme Court has listed the matter regarding the second auction for hearing in August. The Supreme Court on March 20 had admitted an appeal by Torrent Investments which was the highest bidder with Rs 8,640 crore against the lenders' decision to hold another round of auction. The court refused to stay the second round of the auction.
Indian-American exec pleads guilty to insider trading
Amit Bhardwaj, 49, the former Chief Information Security Officer at Lumentum Holdings Inc, traded on the misappropriated MNPI himself and tipped his associates with this same information so that they could place profitable trades in Lumentum's acquisition targets, a Department of Justice said in a statement.
Don't Miss
Advertisement