Khushboo Narayan


Office space absorption rose in April-June quarter compared to Jan-March, says report
Sat, Jul 22, 2017

Mumbai: In the April to June quarter, there was net absorption of office space to the tune of 0.8 million square feet (msf). This was a 47 per cent surge from the 0.5 msf absorption that was seen in the first quarter of 2017.

Assets of defaulter Winsome Diamonds to be auctioned
Fri, Jul 21, 2017

Most of the properties to be e-auctioned are commercial offices in Mumbai, Kolkata, Valsad and Goa, according to a bank official. The auctions will be conducted through between noon and 1 pm on August 29.

Vijay Mallya case: Enforcement Directorate team in London to brief the Crown Prosecution Service
Thu, Jul 20, 2017

ED complaint was submitted in a Mumbai court on June 14 for an alleged loan default of Rs 900 crore by Kingfisher. The complaint accused the airline and Mallya of having routed overseas Rs 417 crore of Rs 900 crore it secured as loan from IDBI Bank.

Interview with Shardul Shroff: Next 90 days will see some form of action, there will be some revival plans or insolvency
Mon, Jul 17, 2017

Shroff, who represents lenders in the litigation, said buyers for the assets are waiting in the wings and banks will get to know the realisation — of course with haircuts and after long-drawn proceedings.

Sensex on fire: why are the bulls charging?
Mon, Jul 17, 2017

The Sensex and Nifty, India’s benchmark indices, have risen by 20% since the beginning of the year — among the highest in the world.

Mumbai has highest demand for co-working spaces
Sat, Jul 15, 2017

Co-working refers to shared office spaces. In top cities like Delhi National Capital Region (NCR), Mumbai, Bengaluru and Pune, a co-working space is likely to lead to cost savings in the range of 20-25 per cent when compared with leasing a traditional office space, the study says.

Recovery of dues under new law: Two major defaulters fight it out in court
Thu, Jul 13, 2017

According to the filings before the Chandigarh bench of National Company Law Tribunal (NCLT) Bhushan Power & Steel, an operational creditor of Amtek Auto filed a petition under IBC in early May, seeking to recover over Rs 60 lakh from the Delhi-based auto ancillary firm.

In a first, Income Tax department to charge govt official under new benami law
Tue, Jul 11, 2017

This is the first time that tax authorities are taking recourse to laws under the Benami Transactions (Prohibition) Amendment Act, 2016, to charge a serving government official and seize properties. The two SRA properties, sources said, were allegedly acquired by Rasal in 2013.

Corporation Bank petition: NCLT bench issues notice to Amtek Auto
Tue, Jul 11, 2017

The Delhi-based auto ancillary maker- Amtek Auto is in default of Rs 14,074 crore.

Eye on GST, CAs, tax consultancies hike fee by up to 30 per cent
Mon, Jul 03, 2017

In the run-up to GST, tax consultants were charging a fee for an impact analysis report — a detailed study to gauge the impact of the new regime on business procedures and margins — and a monthly retainership for compliances.

Supply chain, infra not GST-ready: Small traders
Mon, Jun 26, 2017

Despite efforts by the government, the transitional provisions have failed to account for or facilitate transition of credit and stocks in many scenarios relevant to businesses. According to sources, the textile and garments sector workers are going on a strike from June 26 against the high rate of GST.

One arrested for ‘smuggling’ gold, iridium worth Rs 1.7 cr
Sun, Jun 25, 2017

This is not the first time that ground staff at airports and cargo complexes have been found involved in gold smuggling.

Maharashtra the only state that can manage farm loan waiver within finance panel rules
Sat, Jun 17, 2017

That means it has an elbow room for spending an additional Rs 38,789 crore without violating the rules. The Devendra Fadnavis government’s loan waiver for marginal farmers is expected to cost the state over Rs 30,000 crore. Thus, the math works in favour of Maharashtra.

Vijay Mallya actively participated in money laundering: ED tells court in complaint
Thu, Jun 15, 2017

The complaint accused the airline and Vijay Mallya of having routed overseas over Rs 417 crore of Rs 900 crore it secured as loan from IDBI Bank Ltd for aircraft rental leasing and operational expenses.

Mallya hid his networth using shell companies: ED
Thu, Jun 15, 2017

The ED has also alleged that IDBI Bank officials did not carry out any independent verification of the net worth statement submitted by Mallya with the personal guarantee for the loan.

Five current, former IDBI staff ‘conspired’ with KFA, says ED
Thu, Jun 15, 2017

Out of the total amount, sources said, IDBI granted a short-term loan of Rs 150 crore in October 2009.

ED investigation in IDBI case: KFA loan collateral based on projected revenue math
Thu, Jun 15, 2017

Interestingly, in April 2014, after KFA defaulted on the loans, the banks put up the nine pledged trademarks under the Kingfisher Airlines brand for sale.

Vijay Mallya routed Rs 400 crore of IDBI loan abroad: Probe
Wed, Jun 14, 2017

Vijay Mallya IDBI loan: Sources familiar with the probe told The Indian Express that the money was allegedly sent abroad as payments for aircraft rental leasing and other operational expenses.

Standoff over rates: RBI panel said no to meeting with Finance Ministry before review
Thu, Jun 08, 2017

Central bank resists, doesn’t cut; Govt says there’s strong case for easing rate

ED raids Baba Siddique, Congress calls it vendetta politics
Thu, Jun 01, 2017

Rafique Maqbool Qureshi of Pyramid Developers raided too; case pertains to alleged irregularities in redevelopment of slum Jamaat-e-Jamhooria in Bandra

DRI traces trail of supply of controlled drugs abroad
Mon, May 29, 2017

The complaint said these orders were forwarded to Chilotra, who procured the drugs from pharma units in Agra, Sangli and Ludhiana.

Maharashtra has most number of ATMs in the country, says RBI data
Sat, May 27, 2017

While Maharashtra tops the list, Tamil Nadu is in the second spot with 24,653 ATMs.

Money laundering: I-T runs scan on three co-operative credit societies from Maharashtra
Mon, May 22, 2017

According to sources, the three societies received cash deposits of Rs 1 crore to Rs 5 crore a day. These deposits were split into smaller amounts and transferred to the beneficiaries.

For ‘bribing’ tax official, Essar-linked trust is under CBI’s scrutiny
Thu, May 18, 2017

“The tax demand on Balaji Trust pertains to assessment year 2013-14 or financial year 2012-13 and is connected to the issue of transfer of brand name to the Trust,” said a CBI source.

CBI raids Karti Chidambaram, alleges he got father’s ministry to clear FDI for INX media
Wed, May 17, 2017

The CBI has alleged that the INX Media’s FDI proposal was “deceitful and fallacious” but was approved by then Finance Minister P Chidambaram.

Charges against Karti Chidambaram explained: Undue favours to INX media, criminal conspiracy
Tue, May 16, 2017

The CBI has alleged that Karti was engaged by INX media "by virtue of his relationship with the then Finance Minister P. Chidambaram".

13 Mumbai firms used banks to transfer Rs 2,252 crore abroad: CBI
Tue, May 16, 2017

According to the Registrar of Companies (RoC), Stelkon Infratel was formed in May 2013.

Essar Group MD, top Income Tax official among six held
Thu, May 04, 2017

The CBI has booked the six under sections 7 and 12 of the Prevention of Corruption Act

Buying Propensity Index: Mumbai topped in fourth quarter Q4
Sat, Apr 29, 2017

The index is calculated by data research TRA, which interviews 3,000 people each quarter.

Maharashtra credit society under I-T scanner for Rs 900-crore ‘laundering’
Mon, Apr 24, 2017

Under norms, the primary function of a multi-state cooperative credit society is to provide financial inclusion to its members.

Over Rs 9K cr at stake, Vijay Mallya wanted by govt agencies, ex-staff and banks
Wed, Apr 19, 2017

Most notable is the suo motu case registered by CBI in the Rs 900 cr IDBI loan ‘fraud’ case

Least average power cuts in Maharashtra in March
Sat, Apr 15, 2017

The state had an average power cut of 1:26 hours in March, the data shows. This was about half the average duration for second-placed Gujarat, which suffered power cuts for 2:56 hours on average.

As ATMs dry up, bankers say normalcy will return soon
Wed, Apr 12, 2017

However, bankers claimed that the position was comfortable across the country and normalcy will be restored in some regions which were facing cash shortage.

Taking up new office spaces: Mumbai ranks second in India
Sat, Apr 08, 2017

While this was on a par with Bengaluru, the National Capital Region (NCR) ranked first, accounting for 19 per cent of all transactions

Maharashtra government makes institutional arbitration mandatory for contracts above Rs 5 crore
Sat, Apr 08, 2017

Under the new policy, those who want to set up arbitration councils will have to formulate arbitration rules that are of international standards. The arbitrator should also be headquartered in Mumbai.

Still to get Rs 110 crore for recalibrating ATMs after Nov 8: Cash logistics firms
Thu, Apr 06, 2017

A majority of banks have questioned the cost incurred by the firms between November 10 and December 30, 2016, said three persons familiar with the development.