City Pune Financial News

₹1,010 crore on Tuesday. It received the show cause cum demand notice from the Directorate of GST Intelligence for the non-payment of GST on co-insurance and re-insurance premiums, said Bajaj Finserv in its stock exchange filing on Tuesday.

Bajaj Finserv's insurance arm, Bajaj Allianz General Insurance Company Limited (BAGIC) on September 29 received a show cause cum demand notice from the Directorate General of Goods and Services Tax (GST) Intelligence alleging a tax demand of Rs 1010.05 crore, the financial services company informed the exchanges on Tuesday. The notice was sent by the authority's Pune office referring to the failure to pay GST between July 2017 and March 2022 notably in two areas.

₹10 crore, resulting in record-breaking sales. These numbers are poised to rise even further as we approach the festive season. Among the most significant beneficiaries of this anticipated surge will be the premium and luxury segments.

Delhi Police's special cell has apprehended Mohammed Shahnawaz Alam, a notorious «most wanted» terror suspect, along with two of his associates associated with an alleged «ISIS-inspired» module. The police claim that this module was on the verge of carrying out high-intensity blasts in key locations in Delhi, including Akshardham and Ayodhya, just ahead of the upcoming festival season. Chabad House in Mumbai was also identified as a potential target. Mohammed Shahnawaz Alam, who had earned a place on the NIA's «most wanted» list with a reward of Rs 3 lakhs for his arrest, had managed to escape during a raid in Pune back in July.

Wipro, Capgemini and LTIMindtree are among the leading IT companies in India that have begun nudging employees to be in office on all or at least 50% of the working days in a week, according to sources, in what could signal the end of the work-from-home era in the country’s tech sector. This push to return to office is being implemented by IT/BPM and some technology companies across the country through verbal and informal communication channels, the people cited earlier said, as the industry faces a client demand crunch due to the global macroeconomic crisis which is squeezing tech spending.

General Motors on Monday maintained that it has done everything possible to resolve amicably the deadlock with workers at its now-closed India factory near Pune, including offering compensation at seven times the statutory requirement, even as more than 1,000 sacked workers began an indefinite chain hunger strike. The striking former workers are protesting unemployment and their non-absorption by Hyundai Motor India, which has signed an initial agreement to acquire the Talegaon facility. The American automaker is now keen on signing the final agreement with Hyundai Motor India, a spokesperson at GM said. «Everyone previously employed by General Motors at the Talegaon plant has been legally separated from GM and were offered a separation package more than seven times the statutory requirement.

most-wanted list of the National Investigation Agency (NIA), belongs to Hazaribagh in Jharkhand. He had studied mining engineering from the prestigious Visvesvaraya Institute of Technology. Among his two accomplices who were nabbed, Mohammed Arshad Warsi – also from Jharkhand – had studied BTech in Mechanical Engineering from Aligarh University.

₹33 to ₹166 – a square foot per month, which is the lowest among world's leading markets, as per a report released by real estate consultancy group Vestian. In contrast, the monthly average rent in New York, London, Miami, Seattle and Boston is $40-80 per sq ft, and in Hong Kong, Singapore and Shanghai, it is in the range of $3-8 per sq ft a month, according to the data compiled by Vestian. Among the seven Indian cities – New Delhi, Mumbai, Kolkata, Chennai, Pune, Hyderabad and Bengaluru – the highest average office rentals were observed in Mumbai, the country's financial hub, where it ranges from $1-2.

Delhi Police on Monday arrested one of NIA's most wanted terrorists Mohammad Shahnawaz, accused of having links with an ISIS module, along with his two associates and seized incriminating material including those suspected to be used in IED fabrication, officials said. Shahnawaz was nabbed in Jaitpur in Delhi, while Mohammad Rizwan Ashraf and Mohammad Arshad Warsi were arrested in Lucknow and Moradabad, in Uttar Pradesh, respectively, they said, adding the three have been remanded in police custody for a week.

The residential property segment in India remained unstoppable in Q3 2023, despite the usually slow monsoon quarter. According to the latest Anarock Research data, Q3 2023 saw housing sales across the top 7 cities create another new peak with approximately 1,20,280 units sold, against approximately 88,230 units in Q3 2022. Data shows that there has been a 36% annual sales growth in the residential housing segment.

Delhi Police in a major breakthrough on Monday arrested three Islamic State (ISIS) terrorist, one of them being Mohammad Shahnawaz, a terrorist on the most wanted list of the National Investigation Agency (NIA). The Delhi Police informed that the trio had been planning to carry out terror incidents in North India, taking instructions from foreign-based handlers.

Shahnawaz and has been arrested by Delhi Police’s Special Cell, just days after NIA announced a reward of ₹3 lakh on him. After a massive search operation, the cops arrested three suspected Islamic State (IS) terrorists who were wanted by the NIA. Last month, the NIA released pictures of four terror suspects, including that of Shahnawaz, wanted in the Pune ISIS (Islamic State of Iraq and Syria) module case and declared a reward money of ₹3 lakh each for credible information on them leading to their arrest.

₹3 lakhs on his head, was sought after in relation to the Pune ISIS case. Currently, he is being interrogated by the cops. Further investigations will also conducted to gather additional information regarding Shahnawaz's involvement in the terrorist activities.

PTI citing officials, Shahnawaz has taken him into custody. In a significant achievement, the Delhi Police Special Cell successfully captured Shahnawaz, also known as Shafi Uzzama, who held the status of being the National Investigation Agency's (NIA) most wanted terrorist.

employee union of General Motors India has called for a chain hunger strike from Monday, demanding transfer of all its workers to Hyundai Motor, which plans to acquire its manufacturing facility in Talegaon. The American automobile giant stopped selling its cars in India from 2017. General Motors Employees Union in a statement on Sunday also accused the Eknath Shinde-led Shiv Sena-BJP government of not taking the unemployment issue of «thousands» of workers of the auto firm seriously.

General Motors India have threatened to go on an indefinite hunger strike from October 2 to protest their alleged non-absorption by Hyundai Motor India, the proposed new owner of the car manufacturing plant near Pune. The workers under the banner of the General Motors Employee Union (GMEU) are demanding that they be absorbed by the factory’s new owner. The hunger strike may further delay finalising a commercial agreement between Hyundai, which has its growth plans for the Indian market hinged on the Talegaon facility and the US automaker. The local arm of the Korean automaker signed a term sheet with GM for a potential buyout of the Talegaon plant near Pune on March 13. A final deal is subject to meeting certain conditions including obtaining regulatory approvals from relevant government authorities and all stakeholders. A spokesperson for Hyundai Motor India said the company doesn’t have any fresh update on the deal with GM, adding that the commercial agreement is still to be signed.

NEW DELHI : A top government panel has recommended that Bharat Biotech Ltd conduct phase-3 trials of its Japanese encephalitis vaccine for people aged 65 and above, as the disease emerges as a key concern in India. The Hyderabad-based company had asked the Drugs Controller General of India (DCGI) for permission to conduct phase-3 trials in children up to a year old, as was done in phase 1 and 2 trials. However, the expert panel of DCGI said the company may conduct it for older individuals as well, minutes of its meeting showed.

Granules India on September 30 announced that it received a nod from the United States Food and Drug Administration (USFDA) for its new drug that is a generic equivalent of a listed drug used in the treatment of hypertension. The American medicine regulatory body has “approved the Abbreviated New Drug Application (ANDA) for Losartan Potassium and Hydrochlorothiazide Tablets USP, 50 mg/12.5 mg, 100 mg/12.5 mg, and 100 mg/25 mg", the Pune-headquartered drugmaker said in a release.

Godrej Properties has acquired nearly 110 acres of land parcel in Nagpur where Godrej Group's property arm plans to develop plotted residential units, with a saleable area exceeding 2 million square feet. The land parcel is located near the recently operationalised Samruddhi Mahamarg, the expressway connecting Mumbai and Nagpur, and the MIHAN Special Economic Zone (SEZ). «The addition of this new project to our portfolio fits within our strategy of strengthening our presence across key micro-markets in India,» said Gaurav Pandey, MD & CEO of Godrej Properties.

New Delhi: Kia India, the Indian subsidiary of South Korea’s Kia Corp., one of the leading sport utility vehicle (SUV) makers in India, will explore capacity expansion options only after 2025, despite its facility at Anantpur in Andhra Pradesh operating at more than 100% capacity, a senior company executive told Mint. Kia’s Andhra unit, which started with a capacity of 300,000 units following a $2 billion infusion by the parent, expanded its annual capacity to 350,000 units last year. Now, it seeks to de-bottleneck the existing facility further by removing inefficiencies and optimizing the manufacturing processes to enhance production to 400,000 units, said Hardeep Singh Brar, national head, sales and marketing, Kia India.

New Delhi: Tata Group-owned Air India is expected to consolidate its presence and increase efficiency across 100-plus routes, or over 50 origin-destination pairs, to fully utilize the group’s network of four airlines. According to Competition Commission of India’s assessment on deployment of both air traffic and seat capacity for 2022-2023, Air India and Vistara has shared presence in 48 origin-destination pairs, or on 96 routes.