UK court refuses Nirav Modi's application to appeal against extradition to India
A UK high court on Wednesday rejected fugitive diamond merchant Nirav Modi's application to appeal against his extradition to India. Nirav Modi, accused of defrauding PNB of around $2 billion (Rs 14k cr), had lodged an appeal in the London high court last month. On April 15, 2021, UK home secretary Priti Patel had ordered the 50-year-old diamantaire be extradited to India.
No I-T scrutiny on cash deposits up to Rs 2.5 lakh by housewives post-demonetisation: ITAT
Cash deposits of up to Rs 2.5 lakh by housewives post demonetisation will not come under I-T scrutiny as the Income Tax Appellate Tribunal (ITAT) has held that such deposits cannot be treated as income of the assessee.
Kotak Mahindra Bank enables mobile numbers-based fund transfer
Kotak Mahindra Bank has introduced a ‘Pay Your Contact’ feature on its mobile banking app that allows customers to send money or make payments to any of their contacts across all payment apps simply by entering the beneficiary’s mobile number.
SBI consortium sold Vijay Mallya’s share worth Rs 5,825 crore, recovered 70% loss
State Bank of India (SBI) led a consortium of banks that sold Vijay Mallya’s shares worth Rs 5,825 crore in United Breweries (UB) group to Heineken company on Wednesday and recovered around 70% of their Rs 9,900 crore defrauded loan money.
Where the world’s richest 1% are gaining wealth fastest
The share of the wealth held by the richest 1% in nations including the US, China, Brazil and India jumped in the fallout from the pandemic, fueled by efforts to curb the effects of the virus, according to Credit Suisse Group AG.
Vaccinated? Get 10% discount on base IndiGo fare
Got your jab and itching to travel? Though domestic airfares are rather high now, you could comfort yourself with a small discount offered by IndiGo, which on Wednesday launched a 10% discount scheme for its vaccinated customers. The catch is only limited inventory is available under the offer.
Flipkart plans to buy back ESOPs worth $125 million
Flipkart is mulling a buyback of employee stock options (ESOPs) worth nearly $125 million, sources told TOI. If it happens, it will create many new dollar millionaires. The plan is part of a new funding round that the Walmart-backed company is in the midst of.
Share buybacks remain an option for SoftBank, says CEO Masayoshi Son
SoftBank Group Corp CEO Masayoshi Son said on Wednesday share buybacks remain an option, amid a slide in the conglomerate's shares. "Buybacks are always on my mind as an important option but when and how big requires balanced thinking," Son said at SoftBank's annual shareholders' meeting, adding that the group also needs to consider alternative uses of its capital.
Provide ‘level playing field’ for desi goods, govt tells e-tailers
The draft rules, released for public comment on Monday, have proposed that e-tailers identify goods based on the country of origin at the pre-purchase stage and suggest alternatives to ensure “fair opportunity to domestic goods”. "There are many customers who may want to buy domestic products. The focus of the proposed rules is to keep the consumer informed,” said an official.