Information Financial News

After failing to respond to a prior order, embattled crypto lender Genesis has been subpoenaed by a New York court to produce documents related to the collapse of the algorithmic stablecoin TerraUSD (UST) last year.

Income Tax (I-T) Department has moved the Bombay High Court to challenge an appellate tribunal order in favour of the Life Insurance Corporation (LIC) in two major tax dispute cases involving a cumulative amount of Rs 4,993 crore. The Income Tax Appellate Tribunal had ruled in favour of LIC in both the cases pertaining to the assessment year 2013-14. While one of them involves an amount of Rs 1,838.8 crore, the disputed sum in the second case is Rs 3,153.9 crore. «The Income Tax Department has filed an appeal before Honourable Bombay High Court against the decision of Income Tax Appellate Tribunal.

Karnataka Bank is set to recover more than half its dues this month-end from the debt sale of Coffee Day Global, said people aware of the development. The unlisted company operates the Cafe Coffee Day chain across India. The bank has received a binding offer from Rare Asset Reconstruction Company (ARC), triggering a Swiss challenge auction.

The National Highway Traffic Safety Administration is investigating General Motors’ Cruise autonomous vehicle division after receiving reports of incidents where vehicles may not have used proper caution around pedestrians in roadways

Disney attorneys want to question a previous administrator of the Walt Disney World governing district as part of its defense against a lawsuit brought by a board made up of appointees of Florida Gov. Ron DeSantis

From crystal gazing the current government and understanding the fate of those in the states headed for polls to what the future holds for the newly formed opposition alliance and understanding how Indians across different sections cast their ballot, the C-suite executives of India Inc desire to know it all, pollsters and poll pandits said.

Prevention of Money-laundering (Maintenance of Records) Rules, 2005, further tightening the record keeping in case of international transactions above ₹50,000 to prevent terror financing. Every international transaction above ₹50,000 will be subject to closer scrutiny and a reporting entity will have to identify clients, verify their identity and also ascertain purpose of the business if not well defined. The latest rule also mandated reporting entities, which are part of a group, to have adequate safeguards on the confidentiality and use of information exchanged, including safeguards to prevent tipping-off. «Every reporting entity shall...identify its clients, verify their identity using reliable and independent sources of identification, obtain information on the purpose and intended nature of the business relationship, where applicable and take reasonable steps to understand the nature of the customer's business, and its ownership and control,» the notification says.

Supreme Court on Tuesday gave a «final opportunity» to the Maharashtra assembly Speaker to set out a «realistic timeline» to decide on disqualification proceedings pending against MLAs belonging to chief minister Eknath Shinde-led faction of Shiv Sena. A bench headed by Chief Justice of India DY Chandrachud minced no words in expressing its dissatisfaction over the delay by the Speaker in setting out a timeline to decide on the disqualification pleas. The bench granted the final opportunity after Solicitor General Tushar Mehta, appearing on behalf of the speaker, informed the SC that it would not be «realistic» for him to give a timeline today. He urged the court to grant him time till October 28 so that he can personally engage with the Speaker and apprise the bench of the time frame. Granting the request, the SC listed the matter for resumed hearing on October 30.

Santiniketan to San Jose. It has certainly faced trouble in the form of popular pushback in the recent past — from being accused of moving away from its 'family-oriented' fare, and pandering to a woke, LGBT-cheering minority, to suspected of plagiarising stories from non-American cultures to present it 'back' in its own (in)imitable style. Be that as it may, in sheer soft power terms and cultural value, this company outpunches nations, its home base America included, and their culture peddlers.

MUMBAI : The Reserve Bank of India (RBI) has not been maintaining daily and monthly transaction records for its e-rupee digital currency pilots, the central bank said in response to Mint’s Right to Information (RTI) application. However, a senior regulatory official had recently pegged daily retail usage volumes at 15,000. Mint had sought daily and monthly data on the number of retail and wholesale transactions for the central bank digital currency (CBDC).

NEW DELHI : India’s mid-cap information technology services firms Larsen & Toubro Technology Services and Zensar Technologies expressed caution in their September quarter earnings on Tuesday. While L&T Tech recorded 3.2% sequential revenue growth to $288.1 million in constant currency term, Zensar’s revenue was up 0.2% sequentially to $150.2 million. Despite growing revenues, LTTS slashed its FY24 revenue guidance by 2.5 percentage points to 17.5-18.5%, from 20% in April.

₹4,993 crore. The issue is related to two tax dispute cases pertaining to amounts of ₹1,838.8 crore and ₹3,153.9 crore, respectively. Both the cases are related to assessment year 2013-14.

Although Bitcoin offers a way to transact on the internet completely anonymously, buying Bitcoin isn’t always anonymous. Most major crypto exchanges require ID to buy Bitcoin, forcing Bitcoin users to reveal their identity before they can access the digital economy. Thankfully, there are ways to buy Bitcoin anonymously.

trading platform special. Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times.

Quarterly earnings reports have begun to pour in on a positive note, especially for the big banks. In fact, based on the performance of the companies that have already reported so far, the current trend indicates that we have already bottomed out in the previous quarter.

₹9.86 billion. Shares of Graphite India closed 0.51% higher at ₹494.55 apiece on the National STock Exchange on Tuesday."Exciting news! Mint is now on WhatsApp Channels

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Stablecoin issuer TrueUSD recently fell victim to a third-party security breach that led to the exposure of personally identifiable information of some of its clients.

The international regulatory body has proposed a standardised disclosure table and set of templates for banks' cryptoasset exposures with a proposed implementation date of 1 January 2025. "Under the proposals, banks would be required to disclose qualitative information on their activities related to cryptoassets and quantitative information on exposures to cryptoassets and the related capital and liquidity requirements," states the supervisory body.

Dabur, a domestic producer of FMCG and Ayurvedic items, announced on Tuesday that it has been issued a Goods and Service Tax (GST) demand notice totaling Rs 320.60 crore. In response, the company stated that it will contest this notice with a robust justification, submitting its response to the appropriate authorities, as outlined in a regulatory disclosure by Dabur India. «The Company has received intimation of tax ascertained as being payable under Section 74(5) of CGST Act, 2017, wherein GST short paid / not paid amounting to Rs 320.60 crore has been advised to be paid by the Company along with the amount of applicable interest and penalty… failing which Show Cause Notice will be issued,» Dabur informed. However, the company — which owns power brands like Dabur Chyawanprash, Dabur Honey, Dabur Honitus, Dabur PudinHara, and Dabur Lal Tail — said it will have «no impact on the financial, operation or other activities of the company.