Sajan C Kumar

Articles By Sajan C Kumar

278 Articles

Income tax trouble for Cognizant; HC upholds Rs 2,500 crore demand

The case stems from the demand for payment of tax at the rate of 15% on the remittance of Rs 19,415 crore to its non-resident shareholders in the US and Mauritius, against buyback of 94 lakh of its equity shares in May 2016.

cognizant, income tax News

Another liquor manufacturer in trouble as NCLT orders Centre to probe IPO fund diversion in this company

The tribunal has directed the Centre to appoint inspectors to investigate into the affairs of RKDL, in order to bring out the true picture about the diversion of funds and the possible action based on their report.

They alleged that there was a substantial impact of such diversion of funds on the profitability of the company. News

Orchid Pharma resolution plan: PNBIL does about-turn in Dhanuka Labs bid

With the change being considered, the voting share for the resolution plan has come down to 65.53%

Orchid Pharma resolution plan: PNBIL does about-turn in Dhanuka Labs bid (Representational image) News

NCLT orders insolvency resolution process against Thiru Arooran Sugars

The Chennai bench of National Company Law Tribunal (NCLT) has ordered initiation of corporate insolvency resolution process (CIRP) against South-based sugar major Thiru Arooran Sugars, acting on a petition filed by State Bank

An SBI-led consortium had granted financial assistance in the nature of credit facility to the firm for an amount of Rs 159.94 crore in 2016 News

NCLT junks PepsiCo’s scrapping of bottling pact with Oceanic Tropical

The NCLT observed that the business of Oceanic Tropical, the third party bottling company, was mainly dependent on the exclusive contractual agreement (bottling operations) with PepsiCo India Holdings.

Industry News

NCLT orders CIRP against Marg on ICICI Bank plea

The Chennai Bench of the National Company Law Tribunal (NCLT) has ordered initiation of the corporate insolvency and resolution process (CIRP) against Chennai-based infrastructure company Marg, the original promoter of the Ka

nclt, icici bank News

Ingen resolution plan for Orchid Pharma rejected again

Orchid said the company has received a total of three resolution plans and the CoC, the RP and the bid process advisor had deliberations on the plans.

nclat, jsw steel, steel sector, steel industry News

Chennai Metro network gets bigger with the start of work on phase-II

The CMRL plans to extend them these services to all 32 Metro stations soon.

Infrastructure News

French dairy giant Lactalis to spend Rs 50-60 crore per year to beef up infra facilities

French dairy major Lactalis, after making a mark in the Indian market with three acquisitions, will be investing Rs 50-60 crore every year to beef up the infrastructre related to procurement and processing, apart from technol

French dairy giant Lactalis to spend Rs 50-60 cr per year to beef up infra facilities News

Orchid Pharma resolution: NCLAT asks Centre to take action against US firm

The NCLAT has asked the government to take up the matter with the US through the Ministry of Corporate Affairs, if the company does not have an office in India.

Industry News

Sodexo claim for retrospective tax benefit on par with eateries rejected by Madras HC

The order came in response to an appeal filed by Sodexo against a tax tribunal order in 2012 that rejected its plea for revision of taxes for 2000-01 and 2001-02.

Industry News

NCLT orders insolvency proceedings against Karur KCP Packkagings

Karur KCP Packkagings started as a trading unit and later expanded to a network enterprise, supplying gunny bags to cement industries.

Industry News

Gradeup: A platform that boosts exam readiness

This competitive exam preparation platform plans to enhance its presence in tier 2,3 and 4 markets

Gradeup, exam preparation startup, Classroom, Series A funding, PCS, exam categories, competitive exams News

Madras HC quashes land acquistion for Chennai-Salem expressway project

The financial consequences were not analysed by the consultant. The state government had in last May issued a notification and started acquiring lands for the project, evoking strong protests by the farmers.

aiadmk, madras hc, 18 rebel mlas, tamil nadu govt, tn mla disqualification News

Orchid Pharma’s promoter firm too goes under resolution process

Orchid Healthcare has 22.64% stake in Orchid Pharma and is the major shareholder in the promoter group

Orchid Pharma, NCLT, IDBI Bank, Laksmi Vilas Bank, Ingen Capital Group , Piramal Capital News

NCLT dismisses Liberty plea against rejection of its plan for Infinitas

The Chennai bench of the NCLT ruled that the resolution professional, the adjudicating authority or the appellate authority were not empowered to reverse the commercial decision of the committee of creditors.

Industry News

We are adding quality to retail, agriculture and MSME loans: Padmaja Chunduru of Indian Bank

In the nine months ended December, 2018, Indian Bank achieved net business growth of close to 9% with both deposits and net advances contributing in almost equal measure.

Padmaja Chunduru, MD & CEO, Indian Bank News

Zoho charts overseas roadmap, plans to double number of data centres

The cloud software firm plans to double the number of its data centres from the current eight in the next two to three years.

zoho, zoho corporation, data centres News

India Inc hiring plans for April-June: It’s a mixed bag, says report

The Manpower employment outlook survey was conducted by interviewing a representative sample of 5,253 employers in India.

india inc, job market News

This Fintech startup is nurturing very audacious goal of financial inclusion

The startup offers short-term personal loans and loan against gold to individuals.

Industry News

Orchid Pharma set for fresh EOIs for resolution plan, Divis and Gland Celsus Bio show interest

Ingent moved the NCLAT against this order, but the appeal tribunal referred the case back to the NCLT to pass appropriate orders and posted the case for March 1.

Industry News

NCLT annuls Ingen’s resolution plan for Orchid Pharma

The CoC has considered the resolution plan of Ingen Capital Group in its meeting on June 4, 2018 and the plan received an affirmative vote of 78.64% of the CoC by value in its favour.

Industry News

Growth momentum: Redington’s overseas mobility business sees good traction

The mobility vertical for the company in India was largely to do with one or two brands, whereas the same business outside India had a portfolio of very enviable brands.

Industry News

On Innovation superhighway: India jumps 8 places in Intellectual Property ranking

The seventh edition of the index shows India jumping eight places in the ranking to 36th in 2019 from 44th in 2018

international Intellectual Property Index, foreign investors, India, GIPC, WIPO Internet Treaties News

Roche denied India patent for powder formulation for anti-HIV drug Valcyte

The pharma major’s original Valganciclovir patent, granted in 2007, was revoked in 2015 after generic companies such as Ranbaxy, Cipla, Bakul Pharma and Matrix Labs along with some patient organisations filed a pre-grant op

Roche, anti-HIV drug Valcyte, Valganciclovir patent, Matrix Labs, Cipla, Ranbaxy, Bakul Pharma News

Uniphore: Aiming to be an Indian product MNC in speech recognition solutions

The speech recognition solutions provider is looking to become a global player and recently started operations in the US market.

Industry News

Eye on 10.5 lakh jobs: Tamil Nadu investors meet nets Rs 3 lakh crore from 304 MoUs

During its two-day flagship second edition of Global Investors Meet (GIM 2019), the Tamil Nadu government has signed 304 MoUs worth over Rs 3 lakh crore which will provide job opportunities for 10.50 lakh people.

Global Investors Meet, Global Investors Meet news, Global Investors Meet tamil nadu, tamil nadu Global Investors Meet, Global Investors Meet 2019 News