Author: Shehnaz Beig
Shehnaz Beig
Shehnaz Ali Siddiqui is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing around Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
In recent years, the Small and Medium Enterprises (SME) Initial Public Offering (IPO) market has seen a significant boom. However, behind this surge, some investment bankers are exploiting the system by artificially inflating the valuations of SMEs to make illegal earnings. This practice, once limited to regions like Gujarat and Maharashtra, has now expanded across India as stock market activity soars, especially during festive seasons. According to sources close to the matter, investment bankers are approaching small businesses, promising to bring them to the market at much higher valuations than their actual worth. They collaborate with promoters, offering to raise…
Systematic Investment Plans (SIP) are often promoted as a reliable way to build wealth through mutual funds, promising long-term returns. But while many investors have benefited from SIPs in the long run, it is crucial to understand that SIPs do not guarantee profits. Some mutual funds have consistently underperformed, delivering either negative returns or returns lower than Fixed Deposits (FDs). Let’s look at five such funds where SIP investors have faced disappointment over the last 5 and 10 years. 1. Nippon India ETF Hang Seng BeES: A Top Underperformer Launched on 9 March 2010, the Nippon India ETF Hang Seng…
The Securities and Exchange Board of India (SEBI) has recently uncovered concerning practices surrounding the IPO market for small and medium enterprises (SMEs). According to sources, SEBI initiated an investigation earlier this year into the activities of six domestic investment banks. The primary focus of the investigation was to examine the fees charged by these banks for SME IPOs. SEBI’s Findings: Excessive Fees Charged During the investigation, SEBI discovered that some small investment banks charged exorbitant fees for managing IPOs of SMEs. In some cases, these banks took as much as 15% of the total funds raised through the IPOs.…
In a major crackdown on tax fraud, the Indian government has uncovered 10,700 fake companies involved in a Goods and Services Tax (GST) evasion scheme amounting to Rs 10,179 crore. The Central Board of Indirect Taxes and Customs (CBIC) is spearheading the effort to track down fraudulent GST registrations and prevent misuse of the tax system. Aadhaar Verification to Strengthen GST System The CBIC is tightening controls on GST registrations by expanding the use of Aadhaar authentication across several states. Aadhaar verification is already in place in 12 states, and by October 4, four more states will adopt this system,…
The Vivad Se Vishwas Scheme 2024, introduced in the Union Budget 2024-25 by Finance Minister Nirmala Sitharaman, aims to resolve long-pending tax disputes quickly and with minimal hassle. This scheme is set to come into effect from October 1, 2024, and offers taxpayers a chance to settle their cases by paying reduced penalties and interest. Let’s break down how you can benefit from this scheme, the process involved, and important deadlines to keep in mind. Who Can Apply for Vivad Se Vishwas Scheme 2024? This scheme is designed for taxpayers who have disputed tax cases pending in the Income Tax…
If you’re on the lookout for an investment option that combines both innovation and strategy, then the newly launched Baroda BNP Paribas Nifty 200 Momentum 30 Index Fund might just be the right choice. The mutual fund company has come up with this new scheme to offer investors a chance to capitalize on the momentum strategy, which has been a proven winner over the years. The New Fund Offer (NFO) for this scheme is now open for subscription from 25th September 2024 and will continue till 9th October 2024. Here’s what makes this new fund offer a special opportunity for…
If you’re someone who loves to shop for gold, silver, or diamond jewellery, this year’s Delhi Jewellery and Gem Fair 2024 is going to be a dream come true! Imagine walking through aisles filled with over 1.5 lakh jewellery designs, with more than 700 brands and 650 exhibitors from all across India showcasing their finest collections in one place. This unique opportunity is set to take place at Pragati Maidan, New Delhi, from 29 September to 1 October 2024. Whether you’re a fan of traditional styles or modern, trendy pieces, this fair promises something for everyone. A Jewellery Lover’s Paradise…
The Bombay High Court recently refused to entertain a petition filed by Hindustan Unilever Limited (HUL) challenging a ₹962 crore tax demand issued by the Income Tax Department. The demand stemmed from a 2024 order passed by the Deputy Commissioner of Income Tax, raising questions about HUL’s compliance with tax rules involving trademark purchases. Background of the Case: Trademark Purchase Dispute The core of the dispute revolves around HUL’s acquisition of the health drink brand Horlicks from GlaxoSmithKline (GSK) in 2020. The transaction, worth over ₹3,000 crores, involved the transfer of intellectual property rights, including trademarks registered in India. According…
Anmol Ambani, son of Anil Ambani and nephew of Asia’s richest man Mukesh Ambani, has been fined ₹1 crore by the Securities and Exchange Board of India (SEBI). The penalty is linked to a violation in a corporate loan case concerning Reliance Home Finance, where Anmol serves on the board. This action by SEBI also involves the company’s Chief Risk Officer, Krishnan Gopalakrishnan, who has been fined ₹15 lakhs. Loan Approval Sparks SEBI Action The fine stems from an incident in February 2019, where Anmol Ambani approved a ₹20 crore loan to Acura Productions Private Limited. This approval went against…
Telecom company Vodafone Idea Limited (VIL) has approached the Indian government for relief concerning its massive Adjusted Gross Revenue (AGR) dues. After the Supreme Court dismissed its curative petition seeking corrections in the calculation of statutory dues and waivers on penalties and interest, VIL is now turning to the government for assistance. The company’s total AGR dues amount to around ₹70,000 crores. Discussions with Government Officials in Full Swing During a recent investor call about the company’s ₹30,000 crore deal for 4G and 5G telecom equipment, VIL Chairman Ravinder Takkar shed light on the ongoing discussions with senior government officials.…