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SEBI To Auction Arise Bhoomi Developers’ Properties On Apr 1

Posted under Business, Regulatory, by Neha Sonker / 3 days ago

Capital markets regulator SEBI will auction properties of Arise Bhoomi Developers and its directors on April 1 for a reserve price of Rs 4.8 crore. The move is a part of SEBI’s effort to recover investors’ money. The schemes, as per SEBI, qualified to be a CIS which requires compulsory registration from the regulator. However, the company launched the schemes without obtaining necessary approvals from SEBI.

Read more at DailyExcelsior

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SC Ruling Backs Taxpayers In Software Royalty Case

Posted under Taxation, Business, Legal, by Neha Sonker / 3 days ago

The Supreme Court ruled that payments made by an Indian resident to a foreign company for import of computer software for sale in India will not be assessed as “royalty". The judgment, which involved approximately ₹500 crore in tax revenue, will impact companies like IBM India Ltd, Samsung Electronics Co. Ltd, Hewlett Packard India, Mphasis Ltd, Sonata Software Ltd and GE India.

Read more at Live Mint

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Businessman Arrested For GST Evasion Of ₹45 Crore

Posted under Taxation, Business, by Neha Sonker / 3 days ago

In a major crackdown, DGGI, Coimbatore zonal unit arrested a businessman for evading GST to the tune of ₹45 crores by running a fake bill trading racket. These firms controlled by the businessman have received invoices without a supply of goods with a taxable value of approximately ₹840 crores, thereby availing and passing on fraudulent ITC of around ₹44.85 core to various entities, said the statement.

Read more at The Hindu

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Adani Enterprises Crosses Rs 1 Trillion Market Capitalisation

Posted under Business, by Neha Sonker / 3 days ago

Adani Enterprises joined the elite club of companies with Rs 1-trillion market capitalization (market-cap) on the BSE, after its share price hit a new high of Rs 911, rallying 4 per cent in intra-day trade. With the market-cap of Rs 1 trillion, at 11:58 am, Adani Enterprises stood at number 39th position in the overall market-cap ranking, the BSE data shows.

Read more at Business Standard

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Dispute Over Golgappa Trademark And Copyright Reaches Court

Posted under Business, IPR, Legal, Top Stories, by Malika Mahajan / 3 days ago

In Gujarat, a food processing company selling snack under Gol Mol's brand has taken objection to another company naming its golgappa as Gol Mal. Chhajed Foods has filed suit in Mirzapur court, claiming Grainspan Foods has infringed upon its trademark and copyrights by branding and selling its golgappa product identically and similarly deceptive trademark and label.

Read more at latestlaws