Business

The Central Board of Direct Taxes (CBDT) has launched a probe into possible tax evasion and laundering of unaccounted income through investments in virtual digital assets (VDAs), including high-risk VDA transactions and cryptocurrencies, sources in the government said on Thursday.The tax authority is currently verifying individuals and entities engaged in high-risk VDA transactions who appear to have failed to comply …

BENGALURU: The family of late investor Rakesh Jhunjhunwala has fully exited its stake in Nazara Technologies through open market transactions on Friday..According to stock exchange disclosures, Rekha Rakesh Jhunjhunwala, executor to the estate of late Rakesh Jhunjunwala, sold 27.2 lakh shares, worth Rs 333.8 crore, through bulk deals in the open market executed on both the NSE and BSE.Prior to …

BENGALURU: The National Company Law Tribunal (NCLT), Ahmedabad has admitted two separate insolvency petitions filed by Indian Renewable Energy Development Agency (Ireda) against Gensol Engineering (GEL) and its subsidiary Gensol EV Lease (GEVL), initiating corporate insolvency resolution processes (CIRP) against both companies.In the case of Gensol Engineering, the tribunal admitted Ireda’s petition for defaulted dues amounting to Rs 510.10 crore. …

Dilip Shanghvi & Kirti Ganorkar (From left to right) NEW DELHI: Sun Pharma announced that its India business head, Kirti Ganorkar will be elevated as the company’s managing director to succeed the founder, Dilip Shanghvi, effective September 1. The move is part of a structured and forward-looking succession planning process at Sun Pharma, underscoring the organisation’s commitment to leadership continuity …

Amid a sharp spike in global crude prices following Israel’s airstrike on Iran, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said Friday that India has adequate energy supplies for the coming months and continues to navigate global energy volatility through a well-calibrated strategy.Taking to social media platform X (formerly Twitter), the minister said he conducted a periodic …

Tesla has increased prices of its Model S and Model X vehicles in the United States by $5,000 following an update to the two premium electric models, the company announced Thursday via a post on X and updates to its official website.The price hike applies to all configurations of both models. With the adjustment, the dual-motor all-wheel drive (AWD) version …

US consumer sentiment improved in June for the first time in six months, according to preliminary data released Friday by the University of Michigan, offering signs of economic stabilization as inflation remains subdued and trade tensions with China temporarily ease.The university’s closely watched Consumer Sentiment Index jumped to 60.5 in June from 52.2 in May — a 16% rise that …

Global credit rating agency Moody’s Ratings on Friday upgraded Yes Bank’s long-term foreign and local currency bank deposit ratings to Ba2 from Ba3, citing a gradual improvement in the bank’s overall credit profile.The agency also raised Yes Bank’s Baseline Credit Assessment (BCA) by one notch to ba3 from b1, reflecting better capital adequacy and strengthened loss-absorption buffers, Moody’s said in …

NEW DELHI: Tata Group chairman N Chandrasekaran on Friday affirmed that the group will remain committed to doing what is right, even in the face of tragedy, as the company grapples with one of India’s worst aviation tragedies.He said that the Tata group was build on trust and care. “It is a difficult moment, but we will not retreat from …

The US stock market opened sharply lower on Friday as investors reacted to a surge in oil prices and rising bond yields after Israel launched a wave of airstrikes on Iran, escalating Middle East tensions.The Dow Jones Industrial Average dropped over 480 points, down 1.12%, while the Nasdaq and S&P 500 also slipped, pressured by growing concerns around inflation and …