City Delhi Financial News

Canada largest airline has been ordered to pay a family of five who were separated on what’s being described as a “traumatizing” flight last year.

private companies has not yet been discussed in detail in the Cabinet as he came under pressure from the Opposition BJP to present the draft law in the ongoing legislature session itself. “There was some confusion (over the bill). We will clear the confusion in the coming days,” the CM posted on microblogging site X, while adding that it would be placed again before the Cabinet for detailed discussions. In a last-minute decision, Siddaramaiah Wednesday night announced putting the jobs bill on hold after it triggered widespread backlash from captains of the tech industry and the industry body NASSCOM.

Supreme Court has dismissed pharmaceutical major Sun Pharma's plea against a demand notice of Rs 4.65 crore raised by National Pharmaceutical Pricing Authority (NPPA) to recover the amount overcharged by the company for anti-bacterial infection drug Roscilox. Sun Pharma has challenged the NPPA's demand notices of 2005. The company was directed to deposit the overcharged principal amount of Rs 2,15,62,077 for the period April 1996 to July 2003 and the interest on this amount (Rs 2,49,46,256) for Roscilox, a brand of a Cloxacillin-based drug formulation The amount charged was more than that fixed by the government under the provisions of the Drugs (Price Control) Order, 1995 (DPCO). The pharma company has already paid a sum of Rs 1.25 crore towards the demand made by the NPPA.

homebuyers across the National Capital Region (NCR), ruled that no coercive action can be taken against those who have booked flats under subvention schemes but are yet to receive possession due to delays by developers. This ruling applies to actions by both banks and builders concerning EMI payments, and cheque bounce cases. Under a subvention scheme, banks disburse loan amounts directly to builders, who are responsible for paying the EMIs until the buyers take possession of their flats. However, many builders have defaulted on these payments, prompting banks to seek repayment from the buyers. This situation has led to homebuyers approaching the Delhi High Court, which did not grant them relief, which led them to appeal to India's apex court. A two-judge bench of the Supreme Court heard the case, ordering an interim stay on all coercive actions, including complaints under Section 138 of the Negotiable Instruments Act, 1881.

Budget 2024, scheduled in July, one may expect the government to continue with its objective of moving towards a simplified tax system through the new tax regime (NTR) that was introduced in Union Budget 2020-21. With a view to make the NTR more attractive for individual taxpayers, the government could consider taking measures such as increasing the standard deduction limit from Rs 50,000 to Rs 100,000; including health insurance premium (u/s 80D) in this regime and enhancing the deduction limit available to promote adoption of adequate health insurance cover. Besides, an increase in deduction limit for employer's contribution to the National Pension System (NPS) u/s 80CCD(2) from 10% of basic salary to 14% will be a welcome move. The enhancement of this deduction will ensure parity with the provision applicable for central and state government employees and would provide an option for enhanced tax saving under the new tax regime, along with promoting long-term retirement savings. However, in case the government continues with the old tax regime as an option, it will be important to rationalise some of the tax provisions. One such provision will be to consider Bengaluru as a «metro city» for the purpose of HRA exemption in Budget 2024.

Modi on Wednesday himself meeting the party's UP chief. The meeting between the two lasted for more than an hour. Though the PM meets the BJP's organisation leaders at the party meetings and events. But, it is not very often that Modi holds one-on-one meeting with a state unit chief of the party. A senior leader from UP said this meeting shows the concern in the BJP's top brass over the situation in the state and rumblings within its ranks, especially between the government and organisational workers.

fire broke out at Veg Gulati restaurant on Pandara Road near India Gate here in the early hours of Wednesday, Delhi Fire Services (DFS) officials said. No was was injured in the incident, they said. The restaurant is only a few shops away from the famous Gulati restaurant.

₹2,480-crore loan it had raised last year. The loan was for 10 years with a semi-annual coupon rate of 7.59%. MTNL has long erased its net worth.

DLF will focus on expanding its business to develop residential and commercial projects and is entering new markets Mumbai and Goa to tap into growth opportunities, its Chairman Rajiv Singh said. In his message to shareholders in the annual report, Singh said the company will continue to focus on corporate governance, operational excellence and upholding the value of the company's founders. «Our focus is to expand both our businesses, residential and commercial. The residential business continued its growth momentum, we witnessed an uptick in new sales bookings, coupled with record sales collections. »The markets response to our products continues to be very encouraging. It is with this conviction that we are entering new geographies like Mumbai and Goa," he said.

NEW DELHI : With the taxman coming under fire for filing late appeals, experts say there is an urgent need for a strong tax dispute resolution mechanism to simplify litigation and ensure timely closure of the cases. On 10 July, Chief Justice of India D.Y. Chandrachud rejected the income tax department's appeal against a Delhi high court order in favour of Xerox India because the plea was filed 215 days late.

The 33.5 km line will run from Aarey Colony to Cuffe Parade and will have 27 stops. The new line is set to transform urban transit in Mumbai, making travel easier across the city's streets and cutting down traffic congestion, the post further said. Mumbai is set for a transformative change in its transportation network with the launch of its first underground metro line in July.

inflation. According to the latest notification, petrol prices have increased by 9.99 Pakistani rupees per liter, setting the new price at Rs 275.60 per liter. High-speed diesel prices have also risen significantly, with an increase of 6.18 Pakistani rupees per liter, bringing the new price to Rs 283.63 per liter. This rise in petroleum prices is expected to have a cascading effect on the cost of goods and services, further straining household budgets and impacting economic stability. In contrast, petrol and diesel in India are retailing at Rs 94.72 per liter and Rs 87.62 per liter respectively, based on Delhi rates. Currently, one Indian rupee is equivalent to 3.32 Pakistani rupees in currency market.

Delhi-Mumbai expressway project, touted as a game-changer for Indian infrastructure, faces significant delays primarily due to land-related challenges in Gujarat. According to Times of India sources, two crucial segments totaling 62 kilometers in Gujarat only saw bidding commence in November 2023, while construction on one of these segments began in April this year, and the other started just this month. Initially slated for completion by January 2023, the project has encountered multiple setbacks, pushing the revised target to March 2024, which has also been missed. Sources reveal that constructing each stretch requires a minimum of eighteen months. To expedite progress, the project was divided into smaller 'packages' for faster execution. Officials assure that all outstanding land acquisition issues are being actively addressed. Presently, approximately 630 kilometers of the total 1,386 kilometers have been opened to traffic in various segments. Notable sections include Sohna-Dausa-Sawai Madhopur (293 km) and Jhalawar-MP/Gujarat border (245 km). Authorities express confidence that the 845-kilometer stretch from Sohna to Vadodara will be fully operational by March 2025. Subsequent sections, crucially linking to Mumbai's JNPT port, Jewar Airport in Uttar Pradesh, and Delhi's DND Flyway, are expected to follow suit.

Delhi High Court recently allowed the sale of 26 luxury cars of Sukesh Chandrasekar observing that the cars are subject to natural decay and depreciation. These cars were attached and in possession of the Directorate of Enforcement (ED) in a money laundering case linked to the Rs 200 crores extortion case. Justice Swarana Kanta Sharma in a recent judgement dismissed the petition moved by Leena Maria Paulose, wife of Sukesh challenging the order permitting the sale of the cars.

Union budget presentation on July 23, Andhra Pradesh Chief Minister N Chandrababu Naidu is on a two-day visit to Delhi to push for the demands raised by him for his state with central ministers. Naidu, a key ally in the BJP-led National Democratic Alliance (NDA) government, met Home Minister Amit Shah on Tuesday evening. He is slated to meet other Union ministers on Wednesday. At his meeting with Shah, Naidu raised the issue of his state's fiscal condition. Naidu apprised Shah that he will be releasing a white paper on this on Thursday — his government's fourth since assuming power last month. Naidu took to microblogging site X and said, «Today in New Delhi, I met with the Hon'ble Union Home Minister, Shri @AmitShah Ji, to apprise him of the devastating condition of finances that Andhra Pradesh had slipped into over the past five years. I also discussed the findings of the four White Papers released, outlining the staggering debt accumulated between FY 2019-24 that spiralled our State's finances out of control. Economic incompetence, gross mismanagement, and rampant corruption by the previous government have caused irreparable damage to our State.»

Delhi: The Directorate of Education (DoE) has announced an extension for the admission deadline for entry-level classes in private schools for children from economically weaker sections (EWS) and those with special needs. In a circular released on Monday, the DoE stated that the new deadline applies to entry-level classes — Nursery, KG, and Class 1 — for the 2024-25 academic session. This extension specifically affects two categories: Economically Weaker Section and Disadvantaged Group (EWS/DG) and Children with Special Needs (CWSN). Previously, the deadline was set for May 31, but it has now been extended to July 31, up until 1 pm.

SpiceJet on Tuesday announced that Ashish Kumar, Head of Finance and Chief Financial Officer, will be leaving the company to explore other opportunities. In place of Kumar, Joyakesh Podder will be taking over as as the Deputy Chief Financial Officer of the company with effect from July 15, 2024. «Podder is a Chartered Accountant with over 30 years of experience in large organizations like PwC, Reliance, Mahindra, Go Air, SpiceJet etc. in aviation, hospitality and telecom sectors,» said the airline through stoch exchanges.

plastic surgery trend grows, concerns over associated myths loom larger. Doctors at AIIMS Delhi have debunked several misconceptions about plastic surgery, emphasising that enhancing one's appearance through these procedures is neither as dangerous nor as painful as commonly believed. They highlighted advancements in anaesthetic techniques that have markedly reduced the discomfort typically associated with such surgeries. A major misconception is that plastic surgery involves a lot of pain. According to the doctors, facial surgeries are generally painless, although procedures like liposuction and abdominoplasty may cause more discomfort. However, advancements in anaesthetic drugs and pain management techniques have made these surgeries much less painful than perceived. Dr. Maneesh Singhal, professor and head of the plastic, reconstructive, and burns surgery department, told The Times of India that AIIMS Delhi sees a significant number of cosmetic surgeries, performing around 25-30 procedures every month. «These surgeries encompass a wide range of treatments, including scar correction, liposuction, gynecomastia, platelet-rich plasma therapy, and rhinoplasty. Most people opting for cosmetic surgery at AIIMS are in the 25-35 age bracket,» he said.

domestic passenger traffic in June at around 13.28 million, more than 6% from a year earlier, and nearly 10% above pre-covid levels; however, airline capacity deployment in June was up by just 7% on year and lower by 3% over May. Separately, one of the terminals of Delhi's international airport, the country’s largest and busiest, remains out of service.

Indian Oil Corp (IOC) received just two bids to build the country’s first green hydrogen plant at its Panipat refinery in Haryana, said two industry executives aware of the development. This is in response to the second tender for the project, the first having been scrapped amid accusations of preferential treatment. One of the two bidders, GH4India, is a joint venture owned equally by IOC, ReNew and engineering major Larsen & Toubro. GH4India was formed in FY23 for development of green hydrogen and its derivatives, including green ammonia and methanol, besides production and associated renewable assets. Repeat of Last Year

Uttarakhand's total capacity for hydro electricity generation is being utilised at present, Chief Minister Pushkar Singh Dhami on Monday sought the clearance of 21 new hydel power projects with a capacity of 2123 MW for the state from the Centre. The request was made by the chief minister at a meeting with Union Minister of Power Manohar Lal Khattar when the latter met him at his official residence here. Khattar is on a visit to the state to review the progress of Tehri Hydro Power Complex and various urban development projects in the state. Expert committees have recommended the implementation of 21 new hydel power projects with a capacity of 2123 MW to be built on the Alaknanda and Bhagirathi rivers and their tributaries, the chief minister said.