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Jet Airways promoter Naresh Goyal diverted Rs 9.46 crores out of a loan granted by Canara Bank to the airline to his wife, son and daughter, from 2011-12 till 2018-19, a remand application filed by the Enforcement Directorate said. Another Rs 1,152 crore was siphoned off as consultancy expense during those five years and salary expense of Goyal’s residential staff at Delhi and Mumbai was being borne by Jet Airways. ED also said that Goyal diverted Rs 2,547 crore showing a payment to its subsidiary JetLite and then wrote off the amount. The central agency on Friday night arrested Goyal and today produced him before a PMLA court in Mumbai. Amit Agarwal, then Chief Financial Officer of the company told ED during interrogations that these payments were directly approved by Goyal himself. “On being asked by the CFO, Naresh Goyal authoritatively replied that these payments were critical for the functioning of the company and there was no point in asking further questions,” the ED said. “As per the CFO, the finance department had no say about these payments and it was directly approved by Goyal through his secretary,” the agency added. A consortium led by State Bank of India of which Canara Bank is part owes Rs 6,000 crore to the airline which has now been marked as Non-Performing Asset (NPA) after the airline shut business in 2019. Lenders will lose 95% haircut on the recovery of the amount if a consortium manages to restart the airline.

Rahul Gandhi on Saturday at an event in poll-bound Chhattisgarh hit out at Prime Minister and Bhartiya Janata Party (BJP) leader Narendra Modi regarding the Adani group stock manipulation charges. He said, "India's PM can't make an inquiry on the Adani. Because after the inquiry the loss will not be for Adani but to someone else." Talking about the defeat BJP faced in the Karnataka Assembly elections, Rahul Gandhi said, "Before every election, BJP presents a number.

respiratory virus cases with symptoms similar to adenovirus, influenza, and Swine Flu. So far, it is being observed that the virus is only affecting either children or adults with comorbid conditions, according to a report published by Hindustan Times. However, health experts clarified that there is no cause for alarm due to its 100% recovery rate within a normal time period of five days.

China's economic slowdown has alarmed international leaders and investors, as per CNN. For the first time in decades, the world's second economy is itself in trouble. Hong Kong's Hang Seng (HSI) Index slid into a bear market on Friday, having fallen more than 20 per cent from its recent peak in January. The Chinese yuan, last week, fell to its lowest level in 16 years, prompting the central bank to make its biggest defence of the currency on record by setting a much higher rate to the dollar than the estimated market value. The issue is that, after a rapid spurt of activity earlier this year following the lifting of COVID lockdowns, growth is stalling.

A pattern break in Larger Caps For the past decade, a select set of stocks sustained valuations that many would argue were 5 to 10 times their intrinsic valuation. Investors in these companies pointed out the predictability of their earnings, dominant brands, indestructible moats, distribution prowess, attractive working capital dynamics, clean accounts and high barriers to entry.

Rahul Gandhi will address public meetings in poll-bound Chhattisgarh on Saturday where assembly elections are due by the year-end. This is the first time that the events of the two senior leaders belonging to rival parties are coinciding on the same day in the Congress-ruled state ahead of polls. While Shah will attend two functions, one in Raipur and the other at Saraipali in Mahasamund district, Gandhi will address a program of Rajiv Yuva Mitan Club in Nava Raipur – the upcoming new capital city of Chhattisgarh.

Tharman Shanmugaratnam winning Singapore's presidential election, he joins a long list of Indian-origin leaders who are dominating politics at important world capitals. Shanmugaratnam, 66, received 70.4 per cent of the votes in the presidential election held on Friday. «Singaporeans have chosen Mr Tharman Shanmugaratnam to be our next president by a decisive margin,» Prime Minister Lee Hsien Loong said as he congratulated Tharman on Saturday. He is among several leaders of Indian heritage who have ascended to the highest echelon of public service globally. His victory signifies the rising influence of Indians across the globe. In the US, the growing influence of the Indian-American community can be seen in the success of Kamala Harris, who became the first woman and the first coloured Vice President of the country. She was a senator for California from 2017 to 2021.

ISRO's first space venture to study the sun astronomer and Profesor RC Kapoor on Saturday said that the most important instrument on the Aditya-L1 mission launch will study the corona of the Sun. In Bengaluru, speaking to ANI, Kapoor said, «This is a very important day. The most important instrument on Aditya L1 will study the Corona of the Sun. Normally, which can only be studied during full solar eclipse...»Watch Aditya-L1 mission launch Live Updates In Chennai former ISRO scientist Mylswamy Annadurai, a Padma Shree awardee said, "...It is technically very challenging to acquire the L1 point and have an orbit around that and to survive for the five years with very accurate finding requirements… This is scientifically going to be rewarding because seven instruments will try to understand the dynamics and phenomena of what's happening there..." The spacecraft will be placed in a halo orbit around the Lagrange point 1 (L1) of the Sun-Earth system, allowing continuous viewing of the sun without any eclipses or obstructions.

Tata Technologies IPO: The capital market regulator Securities and Exchange Board of India 9SEBI) has given its approval for the launch of Tata Technologies IPO (initial public offering). As it around a month since market regular gave its approval for Tata Technologies IPO launch, experts are expecting Tata Technologies IPO launch date anytime in this month as it takes around one to two months for the launch of IPO after SEBI's approval. Meanwhile grey market has also remained steady in regard to Tata Technologies IPO.

₹ ₹4.30 crore on Day 22, Sacnilk.com has reported. With this, the total collection of the film stands at ₹486.75 crore nett in India. During Raksha Bandhan, the film's collection picked up and showed an improvement of 71 percent, however on its Day 22, it has again seen a drop.

Aditya-L1 mission, called Visible Emission Line Coronagraph (VELC), according to a report published by MoneyControl. In an exclusive interview with MoneyControl, IIA Director Annapurni Subramaniam said the question that arises here is how the sun affects things in space as people are highly dependent on space technology. “You must know that Musk's Starlink satellites were disrupted last year.

During the week, over 100 smallcap stocks delivered double-digit weekly returns with 15 of them offering over 25% gains. RailTel was the top gainer in the smallcap pack with 46% return, followed by India Pesticides (41.9%), Optiemus Infracom (36.3%) and HLV (33.7%). About nine stocks, including Jaiprakash Associates, Pearl Global, Himadri Speciality, MTAR Tech, Bajaj Healthcare, among others delivered between 20-25% gains during the week. In the midcap segment, eight stocks, including BHEL, Vodafone Idea, IRFC among others rose in double digits. While BHEL gained nearly 30%, Voda Idea and IRFC were up 15% each. In the Sensex pack, Tata Steel topped the charts with 8.7% returns, followed by Maruti Suzuki at 8.66% and NTPC at 5.85%. Sector wise, there was heavy buying in metal stocks in anticipation of further stimulus measures from the Chinese government.

Streamlining this multifaceted electoral system presents a formidable challenge. The Indian government, said to be driven by a desire for development and efficiency, has recently expressed its interest in retreating to a voting system reminiscent of the 1960s. Any change — whether beneficial or detrimental — also may mean the government is walking on a thin rope as they will have to counter severe scrutiny, especially now that several opposition parties have united under the banner of «INDIA.» Nonetheless, the government, led by Prime Minister Narendra Modi, appears committed to the cause. The government has reportedly formed a committee under the chairmanship of former President Ram Nath Kovind, who too had voiced support for this idea years back, to explore possibility of 'One Nation, One Election'. Also Read: Indian govt forms committee to explore possibility of 'one nation, one election': Report The government in a surprise announcement on August 31 called for a special session of Parliament for five days starting September 18. However, no official announcement was made regarding the agenda of the session. But speculation is rife that the session may include discussions on the upcoming elections, with some expecting a 'One nation, one election' move from the Centre, while others predict a poll preponement.

Polar Satellite Launch Vehicle (PSLV) seems to have an interesting connection with Moon, Mars and now the Sun. The rocket made its maiden flight on October 22, 2008 for India's first interplanetary mission — the Moon Mission-1 or Chandrayaan-1. And on November 5, 2013, the rocket was used for India's first Mars Mission called Mars Orbiter Mission (MOM).Watch Aditya L1 mission live updates Nearly 15 years after its first flight and on its 25th mission, the rocket code named PSLV-C57 is being used for another interplanetary mission — to study the Sun- by Indian Space Research Organisation (ISRO).

Aditya-L1 mission: The Indian Space Research Organisation (ISRO) is set to launch the solar mission, Aditya-L1 today following successful Chandrayaan-3 lunar mission. Chandrayaan-3's Vikram lander soft landed on the south pole of the Moon less than two weeks ago. Here are the key points for the solar mission: The Aditya-L1 mission is scheduled for liftoff at 11:50 am on September 2, 2023, from the second launch pad at the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh.

North Korea fired several cruise missiles towards the Yellow Sea in the early hours of Saturday, according to the South Korean military. Details of the launch were being analyzed by South Korean and U.S. intelligence authorities, South Korea's Joint Chiefs of Staff said in a statement. It was the latest in a series of missile tests and military exercises conducted by the North in recent weeks including a failed spy satellite launch late last month. Seoul announced sanctions on Friday on five North Korean individuals and one company in response to Pyongyang's launch of what it said was a space rocket last month. On Thursday state media KCNA reported that Pyongyang had conducted a simulated «scorched-earth» nuclear strike on targets across South Korea, drawing criticism from Seoul.

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(Reuters) — As an awful August gives way to an uncertain September, investors hope this month will confirm that the seemingly relentless rise in interest rates will end soon, meaning respite for both stocks and bonds.