The Enforcement Directorate (ED) has provisionally attached immovable properties, valuables, vehicle, bank account having total value of £2.48 million of accused Mehul Choksi under Prevention of Money Laundering Act (PMLA) in connection with the £1.3 billion Punjab National Bank scam. The attachment includes three commercial properties in Dubai, valuables, one Mercedes Benz E280 and a fixed deposit account controlled by the accused, Mehul Choksi. Acting against Mehul Choksi, who is in Antigua, till date, the probe agency has seized properties worth £ 253.47 million, including the recent attachment of £2.48 million.
HC denies interim relief to Mallya
The Bombay High Court has refused to grant a stay on proceedings before a special court on the confiscation of properties of the embattled liquor tycoon Vijay Mallya. A Division Bench of Justices Akil Kureshi and S. J. Kathawalla dismissed Mallya's application sought for a stay on the proceedings, or that any order passed by the lower court during the proceedings be subject to the final decision on another petition filed by him, challenging the validity of the Fugitive Economic Offenders Act. The court said it did not find any reason to grant the relief sought by Mallya.
TCS is one of US’s biggest job creators
Tata Consultancy Services (TCS) is one of the top job creators in the US, the company’s global HR head Milind Lakkad said. He did not disclose any numbers, but sources said the company has about 40,000 people in the US - almost 10% of its total workforce, and the highest among its Indian IT peers. Currently, the company has 872 open positions in the US, including 644 in technology. Asked whether TCS would make higher net additions onsite in the coming quarters, Lakkad said the numbers are not going to change significantly. “We already have a significant number,” he said. When TCS’s employee strength was 318,000, Amsterdam-based The Top Employer Institute had said TCS has over 30,000 people in the US working across 450 locations.
Indian exec to take charge of Audi India
Balbir Singh Dhillon, an industry veteran who has spent nearly 12 years in the Volkswagen group, will take charge of the company, replacing German born Rahil Ansari, who is moving to the group’s global headquarters in Germany, nearly six months ahead of the usually-stipulated three year term. Dhillon is currently the head of dealer development of Audi in India. He will take charge from September to revive the down spiraling sales since last year. Audi feels a leadership change and introduction of new models (last launch happened in January 2018) will lead to revival of business. It plans to launch A6 and A8 sedans, Q8 SUV, and e-Tron electric. The non-electric cars will come only with petrol versions, in line with the government’s focus to push clean mobility.
Every number is authentic: FM
“I will assure the House there is no need for any speculation on figures given in Budget and every number is authentic,” finance minister Niramala Sitharaman said, dismissing charges of gaps in her Budget projections. She promised in Lok Sabha to rein in fiscal deficit, without affecting government spending in her maiden Budget. Some of the analysts had suggested that the fiscal numbers did not add up as GDP estimates varied in the Budget documents and the Economic Survey.
