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CBI Alleges Wadhawans Diverted Rs.24B
The Central Bureau of Investigation (CBI) has made startling allegations against the Wadhawan Group, claiming that they diverted a staggering ?24 billion. This revelation has sent shockwaves through India's financial sector, raising questions about corporate governance and regulatory oversight.
According to the CBI, the Wadhawans allegedly siphoned off funds through a complex web of transactions, deceitfully diverting massive sums intended for legitimate business purposes. This diversion, if proven true, would mark one of the largest financial frauds in India's history, highlighting t..
Shree Cement incurs Rs 6.62 billion profit for Q4; beats expectations
Shree Cement, India's third-largest cement manufacturer by market capitalisation announced a fourth-quarter profit that exceeded, attributing it to increased volumes driven by lower cement prices. Typically, cement companies witness a surge in volumes in the March quarter as they reduce prices to clear year-end inventory backlogs.
Analysts had anticipated that reduced fuel costs would partially offset the decline in prices. Shree Cement's profit for the quarter ending March 31 reached Rs 6.62 billion, surpassing street forecasts of Rs 6.20 billion, as per LSEG data. This marked a si..
Go First Episode Sparks Aviation Regulations
The recent episode involving Go First, formerly known as GoAir, has ignited discussions among legal experts regarding aircraft fleet ownership regulations within the aviation sector. This development has emerged as a pivotal moment, potentially leading to the formulation of stringent governmental norms. The scrutiny surrounding Go First's ownership structure underscores the necessity for clear guidelines to ensure transparency and accountability in the industry.
Legal experts speculate that this incident might catalyze regulatory interventions aimed at enhancing oversight of airline ow..
Shree Cement incurs Rs 6.62 billion profit for Q4; beats expectations
Shree Cement, India's third-largest cement manufacturer by market capitalisation announced a fourth-quarter profit that exceeded, attributing it to increased volumes driven by lower cement prices. Typically, cement companies witness a surge in volumes in the March quarter as they reduce prices to clear year-end inventory backlogs.
Analysts had anticipated that reduced fuel costs would partially offset the decline in prices. Shree Cement's profit for the quarter ending March 31 reached Rs 6.62 billion, surpassing street forecasts of Rs 6.20 billion, as per LSEG data. This marked a si..
Jaishankar Highlights Mumbai-Ahmedabad Bullet Train Benefits
india's vision of a modern and interconnected transportation network. Foreign Minister S Jaishankar has emphasised the significant benefits of the Mumbai-Ahmedabad bullet train project, citing its potential to revolutionise transportation and boost economic growth. Speaking on the project, Jaishankar highlighted its role in enhancing connectivity, fostering economic development, and strengthening bilateral ties with Japan.
The Mumbai-Ahmedabad bullet train project, a flagship infrastructure initiative between India and Japan, aims to reduce travel time between the two cities from hour..
