IT dept finds pharma group gave freebies worth Rs 1000 cr to health professionals

New Delhi (IANS) The Income Tax Department on Wednesday said it has recently carried out search and seizure operations against a major Bengaluru-based pharmaceutical group, Micro Labs whose medicine Dolo650 was in high demand during the Covid waves.

'In June, Mutual Fund AUM declined, industry changed sectoral allocation'

Chennai (IANS) While the total assets under management (AUM) of the Indian mutual fund industry declined by 4.2 per cent last month, it also saw changes in the sector and stock allocation of the funds, said broking company Motilal Oswal Financial…

Another Rs 1,200 cr vanishes from BYJU'S funding round: Report

New Delhi (IANS) A whopping Rs 1,200 crore from a US-based company, recently announced by BYJU'S as a funding round, has gone off track, according to a media report.

In September 2021, New York-based Oxshott invested Rs 1,200 crore as part…

'Warehousing of imported solar panels, accessories need to be reviewed'

New Delhi (IANS) The grant of permission for warehousing of imported solar panels, solar modules and related accessories is not in accordance with the Manufacture and Other Operations in Warehouse Regulations (MOOWR) 2019 provisions or principles…

Senior business journalist's name surfaces in NSE co-location scam

New Delhi (IANS) The Central Bureau of Investigation (CBI) probing the National Stock Exchange (NSE) co-location scam involving its former CEO and MD Chitra Ramkrishna and others has learnt that a senior business journalist had helped the accused…

TCS posts Rs 9,478 cr profit, interim dividend of Rs 8 per share

Chennai (IANS) Software major Tata Consultancy Services Ltd (TCS) on Friday said it closed the first quarter of FY23 with revenue of Rs 52,758 crore and a net profit of Rs 9,478 crore.

The Board of TCS also declared an interim dividend of Rs…

Huawei transferred Rs 750 cr abroad, claim I-T Deptt sources

New Delhi (IANS) Chinese technology company Huawei has been accused by the Income Tax Department of transferring Rs 750 crore to its foreign-based parent firms sources in the department have said.

The I-T had in February accused the firm of…

Vivo India remitted Rs 62,476 crore abroad, almost 50% to China: ED

New Delhi (IANS) A day after it was reported that two top executives of its associated company likely fled India, following raids, the ED on Thursday said that Chinese smartphone company Vivo was involved in huge 'hawala' transactions.

With licence to fly, Akasa Air to start operations this month

Chennai (IANS) India's new airline, Akasa Air, on Thursday got its Air Operator Certificate (AOC) from the Directorate General of Civil Aviation (DGCA).

"The grant of the AOC is the final step of a comprehensive and rigorous process laid…

India sees 33% dip in startup funding at $6.9 bn in April-June

Bengaluru (IANS) The funding in the Indian startup ecosystem nosedived by a huge 33 per cent to $6.9 billion in the April-June period (Q2), from $10.3 billion in the first quarter (Q1) this year, amid the economic meltdown and layoffs in the funding…