Serious Frauds Office submits report on Daewoo

The Serious Frauds Office is believed to have submitted its first report to Department of Company Affairs on completing a probe into trouble...

The Serious Frauds Office is believed to have submitted its first report to Department of Company Affairs on completing a probe into troubled car maker Daewoo Motors’ alleged financial mismanagement involving about Rs 1,000 crore. Dca had ordered a probe into the alleged financial irregularities under Section 235 of the Companies Act and referred it to the sfio in October last year.

While confirming that the sfio has submitted its report to dca secretary M.M.K. Sardana, sources said Indian fis alone have an exposure of about Rs 1,000 crore in the beleaguered car maker, which has been declared sick. (PTI)

PM Modi addresses the nation ahead of the rollout of new GST rates.

PM Modi says ‘GST savings festival’ begins soon: how household budgets are set for boost

Explained28 min ago

Ahead of the rollout of GST 2.0 effective from September 22, companies have announced lower prices for over 375 common-use goods. The government has urged corporates to pass on the benefits to consumers, resulting in cheaper prices for FMCG products, milk, butter, cheese, pickles, jams, and ice creams. Other items like shampoo, soap, cement, durable goods, and cars may also see a reduction.

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