Vijay Mallya’s Firm says He did not use the loan amount for illegitimate purpose

Vijay Mallya’s Firm says He did not use the loan amount for illegitimate purpose

Mumbai: A new turn in the case of liquor baron- Vijay Mallya whose passport has been suspended by the authorities, on the request of the Enforcement Directorate- ED, now Mallya refuted allegations that he siphoned about half of the Nine hundred crores of rupees loan to his Kingfisher Airlines, for purchasing the properties in foreign countries. About sixty- years- old businessman- Mallya is facing allegations and cases against his non- payment of the loan amounts to the Indian banks. While the case before ED is to investigate the charges of…

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Finance Minister- Arun Jaitley says India can grow at a much faster pace with predicted higher rainfall this year

Finance Minister- Arun Jaitley says India can grow at a much faster pace with predicted higher rainfall this year

Washington: As per the Union Finance Minister- Arun Jaitley, the growth rate of India is now at 7.5 per cent and is not enough considering its own requirement standard and the country has the “potential” to do “better”. Moreover, as per the Finance Ministry- Jaitley the country can grow at a much faster pace if the rainfall predictions come true. The finance minister- Jaitley was speaking in Washington at the Carnegie Endowment for International Peace event, yesterday, on Wednesday 13th day of April, where he said that he has seen…

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Indian cigarette factories close production due to health warning rules

Indian cigarette factories close production due to health warning rules

Kolkata: A maker of Indian cigarettes includes ITC Ltd which is partly owned by British American Tobacco suspended Friday production (1st April 2016) over ambiguity’s in newer rules of warnings of health of government for packs. This was told by leading industrial bodies. Rules mandated 85 percent of packing surfaces of cigarettes being covered in warnings of health. Nearly 20 percent kicked from 1st April 2016 after becoming delayed for years. Makers of cigarettes failed in compliance with packing with small warnings being sold still in New Delhi capital. (TII)…

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Vijay Mallya claimed fresh date for his appearance before ED: he was to appear on April 2

Vijay Mallya claimed fresh date for his appearance before ED: he was to appear on April 2

New Delhi: Today, on 2nd day of April, the Business tycoon- Vijay Mallya will not be appearing in person before the Enforcement Directorate- ED in Mumbai, as he seemed to have claimed time till May for his personal appearance before the probing agency. Notably, the Enforcement Directorate is an investigating agency probing in his alleged involvement in the Money laundering Case, where around 900 and more crores of IDBI loan money is in question. The information as to his not presenting before the agency has been obtained from the officials,…

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Government alters Gold Monetisation Scheme and allows redemption of deposits in Gold or Currency

Government alters Gold Monetisation Scheme and allows redemption of deposits in Gold or Currency

New Delhi: The Government has now offered a tweaked gold monetisation scheme, wherein the Government has permitted the investors to redeem deposits either in Gold or in equivalent currency also. This move of the Government is expected to attract the temple trusts, among them many temples are possessing significant amount of Gold in their control. As per the statements which were released from the Finance Ministry, for the deposited Gold under the Medium and Long term Government Deposits, the investors will be allowed to redeem the principal at a maturity,…

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