REGISTERED OFFICES OF COMPANIES
NEET-UG paper leak case: Courier company's role raises eyebrows as probe uncovers new twists & turns
After the recovery of SIM cards, laptops, post-dated cheques, phones and other such things, now comes to the fore the discovery that the courier company that was to deliver the papers to bank strongrooms didn't do their job and delivered the packets elsewhere.
Why are India's richie rich choosing Dubai to migrate?
A report by Henley & Partners reveals that approximately 4,300 millionaires are expected to leave India this year, with many choosing the UAE as their destination. The UAE's appeal lies in its business opportunities, financial benefits, and high-quality lifestyle, attracting both wealthy individuals and professionals.
ED makes third arrest in Rajasthan's Jal Jeevan Mission 'irregularities' case
The Enforcement Directorate (ED) has arrested Mahesh Mittal, proprietor of Shree Ganpati Tubewell Company, and Padamchand Jain, proprietor of Shree Shyam Tubewell Company, in connection with a money laundering investigation into alleged irregularities in the Jal Jeevan Mission scheme in Rajasthan. The scheme aims to provide safe drinking water through household tap connections.
Tax parity for IFSC funds to help HNIs avoid US inheritance levy
Wealthy Indians can use GIFT City to avoid US inheritance tax on offshore investments. IFSCA is seeking tax parity for funds in GIFT City to attract HNI investors.
Herd on PE Street: TPG outruns everyone in race for Altimetrik
Last month, its Asia-focused fund TPG Asia VIII secured $5.3 billion in aggregate capital commitments. That made it the firm’s largest Asia fund in 30 years of investing in the region. Since inception, TPG Asia has ploughed more than $13 billion into core sectors including consumer, healthcare, financial services and TMT/new economy and the fund has realised more than $16 billion, according to its website.
Police investigate Som Distilleries over allegations of employing children; company issues clarification
Police are investigating Som Distilleries and Breweries Ltd after allegations surfaced that over 50 children, including 20 girls, were found working at a distillery in Madhya Pradesh. The National Commission for Protection Of Child Rights initiated the probe, prompting serious concern from authorities. Som Distilleries clarified the issue pertains to an associate company dealing with country liquor and terminated the contractor responsible for labor supply.
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CBI conducts searches at 14 locations in connection with Rs 5717-cr fraud by SKS Power Generation
The Central Bank of India (CBI) has registered an FIR into a bank fraud involving Chhattisgarh-based SKS Power Generation Ltd. The company, promoted by SKS Ispat and Power, allegedly availed a Rs 6,170 crore loan from various financial institutions, leading to a default of Rs 5717 crore. The FIR has booked several officials, including two State Bank of India officers.
IMC India leases office in Mumbai’s BKC at Rs 700 per sq ft/month for short tenure
The company has leased nearly 43,000 sq ft office space on the 34th floor of sea-view premium commercial tower Altimus in central Mumbai for a long-term tenure of 10 years at monthly rental of Rs 350 per sq ft.
PNC Infra shares tank 10% following CBI raid on company
PNC Infra Share Price: PNC Infratech's shares experienced a sharp decline of 10% to Rs 470 during Tuesday's trading session on the BSE. This drop occurred following news that the Central Bureau of Investigation (CBI) had conducted searches at the company's corporate office and the residences of its managing director (MD) and whole-time director.
More than 11,000 poll-related seizure FIRs registered in Andhra Pradesh
In Andhra Pradesh, the Election Commission oversaw the registration of 11,249 seizure FIRs, amounting to Rs 483 crore in cash, liquor, drugs, and other items. Chief Electoral Officer Mukesh Kumar Meena shared data revealing election-related violence, including deaths and injuries, with notable cases of poll violations like EVM smashing and agent kidnapping.
100X.VC invests $2.7 million in 17 startups
100X.VC, a Mumbai venture capitalist firm, injected $2.7 million into 17 startups in their 11th cohort. This brings their total portfolio to 161 companies. Ninad Karpe, founder and partner at 100X.VC, said they invested Rs 1.25 crore in each startup and provided mentorship to help them refine their products and go-to-market strategies.
The man who escaped the scam rings of Cambodia
Thousands of workers are trafficked to Southeast Asia to commit cyber fraud on their fellow citizens over social media. Ex-serviceman Botcha Sankhar, who was forced to work in the scam compounds of Cambodia for six months, unravels the modus operandi of this new and terrifying form of crime and forced labour
Online bond platform companies set up industry body
The executive committee of the new body – called the OBPP Association of India – was formalized at a meeting on May 28 at the NSE’s office in Mumbai, with more than 20 of the 27 licensed OBPPs in attendance, the association said in a statement.
I-T dept asks taxpayers to link PAN with Aadhaar by May 31 to avoid higher TDS deduction
The income tax department urged taxpayers to link PAN with Aadhaar by May 31 to avoid higher tax deductions, as unlinked PANs incur double TDS rates. A circular allows no penalties for short TDS if linked by the deadline. Reporting entities must also file SFT by May 31 to avoid penalties.
Godrej & Boyce sells 58,500 sq ft office space in Mumbai’s Vikhroli to Godrej Industries
The office space on the 9th floor has already been leased to managed flexible workspace provider Simpliwork Offices for a period of 60 months until March 31, 2026. This lease will also be transferred to Godrej industries as the new landlord, showed the documents accessed through Propstack.
Nearly 78 per cent voter turnout in 8 Lok Sabha seats of West Bengal till 5 pm
Bishnupur (SC) recorded the highest polling at 81.47 per cent, followed by Tamluk 79.79 per cent, Jhargram (ST) 79.68 per cent, Ghatal 78.92 per cent, Medinipur 77.57 per cent, Bankura 76.79 per cent, Kanthi 75.66 per cent, and Purulia 74.09 per cent, he said.
Pune Porsche Accident: Attempts were made to show accused teen wasn't behind the wheels at the time car killed 2, Pune CP says
Pune Commissioner of Police (CP) Amitesh Kumar stated on Friday that the police are working towards building a strong case against the 17-year-old boy who is suspected to be involved in the Porsche car accident. He assured the media that the case is being investigated carefully and with great sensitivity.
Beacon Trusteeship IPO to open on May 28; sets price band at Rs 57-60/ share
Leading debenture trustee Beacon Trusteeship Ltd on Wednesday said it is aiming to raise a little over Rs 32 crore through its initial share-sale opening for public subscription on May 28.
Money laundering probe: ED raids ex-DPIIT secretary Ramesh Abhishek
The Enforcement Directorate raided retired IAS officer Ramesh Abhishek's premises in a money laundering probe linked to his tenure at the Department for Promotion of Industry and Internal Trade (DPIIT) and subsequent FIR by the Central Bureau of Investigation (CBI) under the commerce and industry ministry.
GST officers working on registration mechanism for 'shared warehouse' for e-commerce suppliers
GST authorities are developing a mechanism to address taxation and registration issues for shared warehouses used by e-commerce companies, where multiple suppliers store goods for last-mile delivery. This issue arises because suppliers have geo-tagged these warehouses as their 'additional place of business' under GST rules, raising concerns of potential fraudulent registrations and the risk of holding warehouses accountable for individual supplier defaults.
IT companies are deploying new tricks to lure staff to office
IT firms are implementing measures to encourage office attendance post-pandemic, curtailing the flexibility granted during COVID-19. Employees face compliance pressure, risking consequences for non-adherence. Cognizant introduces a roster app, while TCS ties variable pay to office presence. Dell adopts a tracking system; Wipro emphasizes on-campus engagement, contrasting Infosys's hybrid approach.
CBI registers FIR in Jal Jeevan Mission 'scam' case in Rajasthan
CBI registers FIR in Jal Jeevan Mission scam involving fake certificates from IRCON. Rajasthan contractors face allegations of forgery and cheating. Investigation uncovers fraud in completion certificates verification.
Office space leasing expected to reach 61 million sq ft in 2024
The Q1 2024 saw leasing of 16.7 million sq ft, strongest Q1 in the last five years and a 20% rise year on year. Office space absorption across India’s six major cities is likely to register another big year with expectations of around 61 mn sq. ft. in 2024.
Water Crisis: Kerala writes to top IT firms in Bengaluru, offers office space
Kerala seeks tech investments amid water shortage in the country’s tech hub. The state aims for one million tech workers, Kerala Industries & Law Minister P Rajeeve said.
Bank of America leases over 1 lakh sq ft office space in Mumbai’s Malad
This entire facility is expected to house more than 3,000 employees spanning across different verticals of operations and technology. Bank of America has entered a long-term lease of 9 years and will be paying a total rental of over Rs 120 crore through this entire term.
ICICI Prudential Life leases office space in Mumbai
The insurance major has leased this office space - spread across four floors - for five years through a structured deal, a person cited earlier said, adding that the company will be paying a monthly rental of ?91.5 per sq ft for the office space. The lease agreement includes a clause to escalate rentals by 4% every year.
Foreign firms looking to set up GCCs in India; may need 45-50mn sq ft office space by 2025: Colliers
The demand is mainly led by improved business sentiments and a positive economic outlook, signalling confidence among foreign-origin companies seeking to establish their capability centres in the country.
Embassy REIT achieves full year leasing guidance of 6.5 mn sq ft in 9 months
The company signed three large pre-lease deals of 2.2 msf with leading multinationals, including a major Australian Bank, an American retail major and a US-based Tech Company.
Enforcement Directorate searches nine RFL-linked offices
In a regulatory filing, Religare Enterprises said RFL had made a request to the ED to expedite the probe. RFL has also promised its lenders that it would make "all possible efforts" to recover the siphoned off funds, a Religare Enterprises spokesperson told ET, adding that RFL had commissioned a forensic audit to trace the assets and money trail.
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