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Financial services firm IIFL Securities is set to venture into the wealth management business. The company has roped in industry veterans Raghav Gupta, Prakash Bulusu and Amit Srivastava from ASK Asset and Wealth Management to drive the unit. Gupta and Bulusu will be in charge of the wealth businesses as joint CEOs, while Srivastava will oversee investments and products for the firm as a senior managing partner. «With the joining of these three veteran and accomplished private bankers, the mandate is now to transform IIFL Securities and take it to the next level,» said R Venkataraman, chairman of IIFL Securities. Currently, IIFL Securities has retail broking, institutional broking and investment banking units.

Bharti Group's talks with SBI Life Insurance to sell its life insurance venture is said to have collapsed due to disagreements over valuations, delaying the Mittal family's planned exit from the financial services domain but simultaneously opening a window for private equity investors to buy the firm, said people familiar with the matter. Bharti AXA Life, the life insurer now wholly owned by the Bharti Group of the Mittals, has been available for sale as the family seeks to focus on its core telecom business and exit non-core revenue streams, said those people who did not want to be identified. «The negotiations fell through due to Bharti Group's higher asking price, which SBI Life was reluctant to meet given the declining business of Bharti AXA,» said a source.

Smiling Friends Season 2 changes its release format from Season 1's binge model. Here are the upcoming episode dates and streaming details.

Congress leader Shashi Tharoor on Tuesday here said the INDIA bloc, if it comes to power, will repeal the amendments made to the anti-terror law UAPA and references to religion in the law meant to grant citizenship to the refugees. There is no need for such a law which does not give a person even a chance to prove his innocence, he said, referring to the Unlawful Activities (Prevention) Act. Many people have been in jail for a long time because of the laws that have been «weaponised,» he said. Tharoor said that the Congress seems way ahead of the BJP in the elections and that it is gaining seats where it got fewer ones in the 2019 Lok Sabha polls.

Cyclone Remal has claimed 27 lives in Aizawl district following landslides. Mizoram Chief Minister Lalduhoma has announced Rs 15 crore for the State Disaster Relief Fund, while relatives of the deceased will be provided ex-gratia payments of Rs 4 lakhs each. Meanwhile, some after-effects of cyclone Remal hit Mizoram which shares borders with Bangladesh prompting the state administration to issue precautionary measures. It stated that All government offices, except those essential for disaster management, health services, and public utilities, were ordered closed on May 28, 2024. The Mizoram administration said in a release, «In view of the inclement weather and the warning issued by the Indian Meteorological Department (IMD) on „Cyclone Remal“, the State Government hereby orders closure of all Government offices today i.e., 28th May, 2024 (Tuesday) with the exception of offices rendering essential services such as Disaster Management and Rehabilitation, District Administration, Health and Family Welfare, Mizoram Police, Power and Electricity, Public Health Engineering, etc.»

Centre has extended the service of Delhi Chief Secretary Naresh Kumar, 1987 batch IAS officer, for a further period of three months, officials on Tuesday said. Kumar, at loggerheads with the AAP government in Delhi, was given his first extension in November 2023, following a Supreme Court order. An order issued by the Ministry of Home Affairs (MHA) on Tuesday said, «Approval of the Competent Authority is hereby conveyed for the extension of service of Naresh Kumar, IAS (AGMUT 1987), Chief Secretary, GNCTD, for a further period of three months beyond 31.05.2024, i.e. from 01.06,2024 to 31.08.2024 in relaxation of Rule 16(1) of AIS (DCRB) Rules, 1958 by invoking Rule 3 of AIS(CS-RM) Rules, 1960.» Kumar, who was due to retire on November 30, 2023, was given a six months extension. The period of extension will expire on May 31.

DGFT) has put on hold its recent decision on changes in maximum permissible wastage norms for gold, platinum, and silver content in jewellery exports, according to a media release issued by Gem & Jewellery Export Promotion Council (GJEPC) on Tuesday. In a virtual meeting on 28th May GJEPC urged DGFT for a balanced approach that enables minimal disruption to exports and considers both efficiency and the livelihoods of millions associated with the trade. In the meeting, GJEPC informed DGFT officials that the revised norms would have a disproportionate impact on the small and medium-sized enterprises (MSMEs), which represent 85% of all exporters. DGFT has given GJEPC time until 31st July to provide inputs on Standard Input Output Norms (SION). In this time period, GJEPC will conduct a detailed study on wastage norms on different categories of jewellery including plain, studded, machine-made and hand-made.

Losing money to an online scam or fraud is not uncommon anymore. But what has becomecommon sadly is the loss of fortune to the tune of crores to hapless senior citizens. 

Jalan Kalrock Consortium (JKC), the successful bidder of the grounded Jet Airways, on Tuesday withdrew its plea before the NCLAT to move Rs 200 crore, which it paid to lenders, to an escrow account. The withdrawal comes after the National Company Law Appellate Tribunal (NCLAT) refused to give any relief to JKC. An NCLAT bench headed by Chairman Justice Ashok Bhushan said the matter is already before the Supreme Court. Following this, the Consortium of Murari Lal Jalan and Florian Fritsch withdrew the appeal. «Until the shares of the corporate debtor (Jet Airways) are not issued to the successful resolution applicant (consortium), pass necessary directions requiring the MC (monitoring committee) lenders to transfer the sum of Rs 200 crore infused by SR (successful resolution applicant), in the share application account to an interest bearing escrow account,» JKC had said in its plea before the NCLAT.

Delhi court on Tuesday refused to summon Chief Minister Arvind Kejriwal in a criminal complaint filed by a BJP leader who accused him of defamation for claiming that AAP leaders were approached to join the saffron party in return for cash. Additional Chief Metropolitan Magistrate Tanya Bamniyal, however, summoned AAP leader Atishi, saying «prima facie» there was sufficient evidence against her in the matter. The judge directed Atishi, a minister in the Kejriwal cabinet, to appear before the court on June 29. BJP leader Praveen Shankar Kapoor had filed a case against Kejriwal and Atishi over poaching allegations made by the two.

Rouse Avenue Court on Tuesday summoned Aam Aadmi Party (AAP) leader Atishi Marlena in a defamation suit filed by Bharatiya Janata Party (BJP) leader Praveen Shankar Kapoor. The court has asked the Delhi Minister to appear before it on June 29 in a suit which alleged that Delhi CM Arvind Kejriwal and Atishi have accused the saffron party of attempting to lure AAP MLAS and bribe them to switch parties are unfounded and defamatory. The court has, however, refused to summon Arvind Kejriwal.

Delhi police have filed a supplementary chargesheet containing more digital and forensic evidence reports to nail Aaftab Amin Poonawala, who stands accused of killing his live-in partner Shraddha Walkar and dismembering her body, court sources said on Tuesday. The nearly 3,000-page chargesheet was filed before metropolitan magistrate Aviral Shukla, they said. Poonawala is alleged to have strangled Walkar and chopped her body into pieces in the national capital's Mehrauli in May 2022 before scattering the body parts in different areas of the city to escape detection. He has been charged under sections 302 (murder) and 201 (causing disappearance of evidence of offence) of the Indian Penal Code.

Bannari Amman Sugars Ltd.(up 1.17%), Ponni Sugars(Erode)Ltd.(up 0.67%), EID Parry(India)Ltd.(up 0.51%), Balrampur Chini Mills Ltd.(up 0.20%) and Avadh Sugar & Energy Ltd.(up 0.01%) stood among the top gainers.

Karnataka Congress President D K Shivakumar on Tuesday said that the party leadership is in a «difficult position» as there are more than 300 ticket aspirants for the upcoming legislative council elections in the state. Shivakumar, who is also the state's deputy chief minister, said the party high command will decide on the tickets. Biennial elections to 11 seats of the Karnataka Legislative Council to be elected by Members of the Legislative Assembly will be held on June 13. As per the existing strength of parties in the assembly, the Congress can win 7 seats, the BJP three and JD(S) one seat. Chief Minister Siddaramaiah and Shivakumar today left for New Delhi to discuss candidates with the Congress high command. The schedule for filing nominations for the MLC election has already begun, and it will go on till June 3.

Thapar Institute of Engineering and Technology (TIET) on Tuesday said it will soon submit a proposal to Indian Space Research Organisation (Isro) for launching of its first student satellite 'Thaparsat' to monitor pollution in north India. The Thapar satellite program aims to monitor environment issues and real-time pollution levels in Punjab and the northern region of India, a statement said. Taking a step towards imparting experiential education to its students in engineering and technological development involved in satellite building and space missions, the Thapar Institute of Engineering and Technology started the Thapar Satellite Program four years ago, it stated. The purpose of the satellite is to monitor real-time pollution caused by greenhouse gases like carbon dioxide, methane and nitrous oxide and to measure soil moisture content in northern India.

equity indices closed in the red for the third straight session on Tuesday in a highly volatile market, amid profit booking and pressure from index heavyweights Reliance Industries and banking stocks. The BSE Sensex declined 220 points, or 0.29%, to settle at 75,170. Meanwhile, the broader NSE Nifty dropped 44 points, or 0.19%, to end at 22,888.

Indo Tech Transformers Ltd.(up 5.00%), Karma Energy Ltd.(up 4.96%), RattanIndia Power Ltd.(up 4.74%), Torrent Power Ltd.(up 2.58%), Jyoti Structures Ltd.(up 1.00%) and Transformers & Rectifiers(India)Ltd.(up 0.27%) stood among the top gainers.

Lexus Granito(India)Ltd.(up 1.34%) stood among the top gainers.

Rail India Technical and Economic Service (RITES), shares of which have grown 185% in the last 2 years, today declared a dividend of Rs 5 per share along with its Q4 results. “This is to inform that the Board of Directors of the Company at its meeting held today i.e. 28th May, 2024 has inter alia, considered and recommended a Dividend of Rs. 5.00/- per share (i.e. 50%) on 24,03,01,887 equity shares of face value of Rs. 10 /- each of the Company for the financial year 2023-24, subject to the approval of the same by the Shareholders in the ensuing 50th Annual General Meeting of the Company,” said RITES in a filing to the exchanges.

Papua New Guinea in the wake of a devastating landslide on the Pacific island nation, as per a release from the Ministry of External Affairs on May 28.This comes after a massive landslide occurred on May 24 in Enga Province, Papua New Guinea, which buried hundreds of people and caused major destruction and loss of life.Also Read | South Africa following up with India after Gupta brothers arrests — Why are they in jail and what are the cases?"​As a close friend and partner under the Forum for India-Pacific Islands Cooperation (FIPIC) and as a gesture of solidarity with the friendly people of Papua New Guinea, the Government of India extends an immediate relief assistance of $1 million to support relief, rehabilitation and reconstruction efforts," the statement read."India has firmly stood by Papua New Guinea during times of difficulty and devastation caused by natural disasters, as in the wake of the earthquake in 2018 and volcanic eruptions in 2019 and 2023.

income tax department on Tuesday asked taxpayers to link PAN with Aadhaar by May 31 to avoid tax deduction at a higher rate. As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate. Last month, the income tax department issued a circular stating that no action will be taken for short deduction of TDS in case the assessee links his/her PAN with Aadhaar by May 31. «Please link your PAN with Aadhaar before May 31, 2024, if you haven't already, in order to avoid tax deduction at a higher rate,» the department posted on X.