• PM CARES Fund has also got exemption under the FCRA and a separate account for receiving foreign donations has been opened and it will be made operational soon. This will enable PM CARES Fund to accept donations and contributions from individuals and organizations based in foreign countries. This is consistent with respect to the Prime Minister’s National Relief Fund (PMNRF). PMNRF has also received foreign contributions as a public trust since 2011. … [Read more...] about Companies Act amended, contributions to PM CARES Fund to be considered as CSR
Amidst the COVID-19 pandemic and the lockdown, as the economy continues to suffer, there are a few silver linings in terms of companies managing to get funding at such a crucial time from investors.Lending company SATYA MicroCapital has joined this list as it managed to recently raise Rs 105 crores from Japan based investor Gojo & Company Inc. The company has said that this infusion of capital will be utilized in a diversified manner towards generating employment and facilitating livelihood rehabilitation.Vivek Tiwari, MD & CEO, Satya MicroCapital, said “We are grateful to Gojo & Company, Inc. for their continued belief in us. This shows trust of our investors in the company as well as in the MFI industry which is exceptionally praiseworthy.”He further said that, “Yielding capital infusions like this during the hazardous outbreak of such a pandemic is rare. We are certain that the capital infusion will serve as a driving force to SATYA for reinforcing its … [Read more...] about SATYA MicroCapital raises Rs 105 crores from Gojo & Company Inc.
U.S. District Court Judge Bruce Jenkins of Utah dismissed without prejudice the suit filed by plaintiffs Michael Yates and Norman Jones that alleged Traeger Pellet Grills doesn’t use the wood advertised in its pellets and instead uses cheaper woods flavored with oils, the Statesman Journal reports … [Read more...] about Judge dismisses lawsuit against pellet grill company
MUMBAI: Morgan Credit Pvt Ltd (MCPL), RAB Enterprises India Pvt Ltd and Yes Capital Pvt Ltd (YCPL) and over 100 subsidiaries were used by Yes Bank cofounder Rana Kapoor and his family members to allegedly divert Rs 5,050 crore, as per a prosecution complaint, equivalent to chargesheet, filed by the Enforcement Directorate (ED). The allegedly diverted sum of Rs 5,050 crore is “proceeds of crime,” according to ED, which is probing money-laundering charges against Kapoor and his family members. Kapoor and his wife, Bindu, gifted the ownership of MCPL and YCPL to their three daughters, each holding 33.33%. RAB Enterprises (India) was owned by his wife and established with an objective for pursuing investment in family household companies/ selective financial investments. Kapoor has allegedly told ED that these are family group companies. Describing Kapoor as the “prima donna,” chief conspirator and architect of the alleged scam, ED in its chargesheet said, … [Read more...] about Rana Kapoor used three family-owned companies to divert funds: ED
The document identified for the first time which telecoms companies are working with GCHQ's "special source" team. It gives top secret codenames for each firm, with BT ("Remedy"), Verizon Business ("Dacron"), and Vodafone Cable ("Gerontic"). The other firms include Global Crossing ("Pinnage"), Level 3 ("Little"), Viatel ("Vitreous") and Interoute ("Streetcar"). The companies refused to comment on any specifics relating to Tempora, but several noted they were obliged to comply with UK and EU law. … [Read more...] about BT and Vodafone among telecoms companies passing details to GCHQ