Drug Major, Sun Pharmaceuticals informed BSE on Tuesday that one of the Company’s wholly-owned subsidiaries has voluntarily requested the USFDA to withdraw approval for 28 Abbreviated New Drug Applications (ANDAs) ) as they belonged to older drug products of erstwhile Ranbaxy Laboratories and are not being…
Employees’ Provident Fund Organisation (EPFO) on Monday fixed 8.65 per cent interest rate on EPF deposits for the current financial year. “EPFO has fixes 8.65 per cent interest on EPF deposits for 2016-17,” media reports stated. In 2015-16, the interest rate on EPF deposits was 8.8 per cent and it was expected…
Nasdaq-listed IT major Cognizant has entered into an agreement to acquire Adaptra – the Australia-based consulting, business transformation and service provider – for an undisclosed amount. Established in 1998, Sydney-based Adaptra works with five of the top 10 insurers in Australia and New Zealand.…
Private sector Axis Bank has said it has so far suspended 50 accounts and 24 employees for suspicious activities in its operations. Axis’s retail banking head Rajiv Anand said so far the investigating agencies had visited eight branches, including five in New Delhi, and the number of employees suspended has gone…
Yoga guru Baba Ramdev promoted Patanjali Ayurveda’s five production units will have to cough up a fine worth Rs. 11 lakh for “misbranding and putting up misleading advertisements” of their products, a court in Uttarakhand’s Haridwar has ruled. Patanjali has been asked to pay the fine within a…
The amount of demonetized currency that has been deposited in banks has crossed Rs 12.44 lakh crore on December 10, while they have issued Rs 4.61 trillion to them since the demonetisation drive began 35 days ago. “The old notes of Rs 500 and Rs 1,000, which have been returned to the Reserve Bank and the currency…
The Central Board of Direct Taxes (CBDT) has recently released New Form No. 12BB. This is going to be the new standard form for salaried tax payers to claim tax deduction on; LTA (Leave Travel Allowance) / LTC (Leave Travel Concession) HRA (House Rent Allowance) Interest payable on Home Loan (Section 24) and…
Online marketplace Flipkart is set to launch its first umbrella private label ‘Flipkart Smartbuy’. Adarsh Menon, Flipkart’s newly appointed head of private labels said, Flipkart Smart Buy will span 25-30 categories in electronics, electronic accessories and home plastics for starters. The company is also set to…
In a very shocking incident, the Enforcement Directorate has arrested two bank managers from Axis bank after they acted as mediators for converting black money into white, in lieu of a gold brick. Officials identified the two managers as Shobit Sinha and Vineet Sinha, working as managers in the Kashmere Gate branch of…
Union Finance Minister Arun Jaitley said on Friday it was a “constitutional compulsion” to roll out the Goods and Services Tax before September 16, 2017, reported PTI. He added that since the existing indirect tax system will cease to exist by September next year, it will be impossible to run the country without…