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The Economic Times
The Economic Times Pricol expands footprint with acquisition of Sundaram Auto Components' injection moulding business
Pricol Limited is buying Sundaram Auto Components Limited's injection moulding business for INR 215.3 crore. The acquisition is expected to add around INR 730 crore to Pricol's revenue. Pricol plans to strengthen its position in the automotive sector by leveraging SACL's expertise. The deal will help Pricol expand its customer base and diversify its product offerings.
The Economic Times SFIO conducts search operations at three companies engaged in manufacturing of EVs
The Serious Fraud Investigation Office (SFIO) on Monday conducted search operations at three companies engaged in manufacturing of electric vehicles namely Hero Electric Vehicles Private Limited, Benling India Energy and Technology Private Limited and Okinawa Autotech Internationall Private Limited.
The Economic Times Govt detects Rs 824 cr GST evasion by crypto firms: MOS Finance
The government has detected a staggering Rs 824 crore GST evasion by cryptocurrency firms, including Binance-linked Nest Services, which is accused of evading Rs 722.43 crore, Minister of State for Finance revealed.
The Economic Times PLI scheme: Fueling innovation, entrepreneurship to transform India into a global manufacturing hub
Even industry experts are dubbing the current period as India's "prime era" of industrial growth, fueled by a remarkable surge in the sector. Currently holding a 2.7 per cent share in global manufacturing, the nation recognises the need for strategic momentum to expand its footprint.
The Economic Times Nvidia among investors in $700 million capital raise by AI firm Nebius Group
Nebius was founded by Arkady Volozh, former founder and CEO of Yandex. Volozh said the $700 million financing would give Nebius additional firepower to build clusters of graphics processing units (GPUs), cloud platforms and other tools for AI developers faster and on a larger scale.
The Economic Times TCIL may offload 5-10% stake in Bharti Hexacom
He added that discussions will start soon to finalise the timing, the stake sale quantum and the minimum price (floor price) in keeping with Sebi rules. Both the Department of Telecommunications (DoT) and the finance ministry will be involved in the exercise.
The Economic Times Centre detects Rs 722 cr GST evasion from Binance, recovered Rs 122 cr from other crypto exchanges
GST authorities have booked tax evasion cases against 17 cryptocurrency exchanges, amounting to Rs 824.14 crore. This includes Rs 722.43 crore against Nest Services Ltd, a Binance Group Company. Rs 122.29 crore has been recovered as penalty, interest, and taxes. Central GST formations detected and recovered evasion from several other exchanges and virtual digital assets investors.
The Economic Times GoM may seek extension to conclude discussions and submit findings on compensation cess
A Group of Ministers (GoM) may seek a three-month extension to conclude discussions on the future of the GST compensation cess beyond March 31, 2026. The GoM, which includes members from ten states, has various unresolved issues including the handling of surplus cess.
The Economic Times 'Say no to Gautam Singhania as Raymond Lifestyle chairman'
Two advisory firms, SES and IiAS, recommend shareholders vote against Gautam Singhania's appointment as Raymond Lifestyle executive chairperson, citing concerns over his prior appointment approval, remuneration policies, and potential reputational risks. Singhania's multiple roles, open-ended remuneration, and ongoing personal legal issues are key factors for their recommendation.
The Economic Times Policyholders to gain from GST rate cut: FM Nirmala Sitharaman
The ministerial panel led by Bihar deputy CM Samrat Chaudhary has discussed a proposal to do away with GST on term life insurance, while also removing the indirect tax on health insurance covers up to Rs 5 lakh and those purchased by senior citizens.
The Economic Times Second half GDP number expected to be much better: DEA secretary
Economic Affairs Secretary Ajay Seth expressed optimism about India's GDP growth, despite second quarter figures being lower than potential at 5.4%. He predicts improvement in the second half, supported by high-frequency indicators from October. India's economic growth was hindered by weak performance in manufacturing and mining sectors, and weak consumption.
The Economic Times Sebi attaches Rel Big's bank, demat accounts
In Aug, Sebi had imposed a total fine of about Rs 625 crore on 26 entities, including Reliance ADA group chairman Anil Ambani, for their role in fund diversion by Reliance Home Finance, another ADAG entity. Reliance Big Entertainment (now Rbep Entertainment) was one of the entities that was fined Rs 25 crore.
The Economic Times Adani entities apply for settlement in response to Sebi show cause notice
Entities linked to Adani Group have sought a settlement with Sebi over alleged public shareholding norm violations. They filed settlement applications following a show cause notice from Sebi. These actions involve key figures, including Vinod Adani, and four listed companies: Adani Enterprises, Adani Power, Adani Ports, and Adani Energy Solutions. Sebi's investigation dates back to 2020.
The Economic Times India ranks sixth globally with 127 companies committed to net-zero targets: ICRA ESG
Despite contributing approximately 7% of global emissions, India's corporate commitments reflect a growing awareness, though high-emission sectors like power, energy, and cement lag significantly in adopting such goals.
The Economic Times Windfall profit tax on domestic crude oil scrapped
Minister of State for Finance Pankaj Chaudhary tabled a notification in Rajya Sabha scrapping the levy on crude oil produced by firms like state-owned Oil and Natural Gas Corporation (ONGC) and exports of fuels done by companies like Reliance Industries Ltd.
