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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Clarification by PFRDA on transfer of amount from Recognized Provident Fund & Superannuation Fund to National Pension Scheme (NPS)
Mar 07,2017

In the budget of 2016-17, the Government had announced that the subscribers from recognised Provident Funds and Superannuation Funds would be able to transfer their corpus from these funds to National Pension System (NPS) without any tax implication.

With the NPS gaining momentum vis-n++-vis other retirement products and a number of queries being raised on the transfer of amounts from recognised Provident/Superannuation Funds to NPS, Pension Fund Regulatory and Development Authority (PFRDA) has clarified the process through a circular dated 06.03.2017.

Accordingly, in case the subscriber is interested to get his/her recognised Provident Fund/Superannuation Fund transferred to NPS, he/she needs to follow the below mentioned process:

1. The subscriber should have an active NPS Tier I account which can be opened either through the employer (where NPS is implemented) or through the Points-of-Presence (POPs) or online through eNPS on the NPS Trust website www.npstrust.org.in

2. The subscriber presently under Government/Private Sector employment should approach the recognised Provident Fund/Superannuation Fund Trust through the current employer by giving request for transfer to his/her NPS account.

3. The Recognised Provident Fund/Superannuation Fund Trust may initiate transfer of the Fund as per the provisions of the Trust Deed read with the provisions of the Income Tax Act, 1961.

4. The Recognised Provident fund/Superannuation Fund may issue the cheque/draft in the name of:

a) In case of Government employee: Nodal Office Name (PAO or CDDO Name) Employee Name PRAN (12 Digit No.)

b) In case of subscriber presently under Private Sector including All Citizen Model: POP (Name of the POP) Collection Account-NPS TrustSubscriber NamePRAN (12 Digit No.)

5. In case of Government or Private Sector employee, the employee should request the recognised Provident Fund/Superannuation Fund to issue a letter to his present employer mentioning that the amount is being transferred from the recognised Provident Fund/Superannuation Fund to be credited in the NPS Tier I account of the employee which would be recorded by the present employer or POP as the case may be, while uploading the amount.

It may be noted here that as per the provisions of the Income Tax Act, 1961 the amount so transferred from recognised Provident Fund/Superannuation Fund to NPS is not treated as income of the current year and hence not taxable. Further, the transferred recognised Provident Fund/Superannuation Fund will not be treated as contribution of the current year by employee/employer and accordingly the subscriber would not make Income Tax claim of contribution for this transferred amount.

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Wockhart provides update on HPRA inspection of Shendra manufacturing unit
Mar 07,2017

Wockhart announced that the Health Products Regulatory Authority of Ireland (HPRA) has inspected the Companys Shendra, Aurangabad facility and have recommended the renewal of certificate based on the general compliance with the principles and guidelines of Good Manufacturing Practice of the said Shendra manufacturing unit.

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Central Bank of India raises Rs 500 crore
Mar 07,2017

Central Bank of India has successfully raised Rs 500 crore and have allotted 5000 Tier 2 Bonds (Series II) of Rs 10 lakh each.

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No one to be deprived of benefits for lack of Aadhaar
Mar 07,2017

Government has said that no one will be deprived of the benefits for lack of Aadhaar. In a statement issued today, the Government has reiterated that till Aadhaar number is assigned to any individual, the benefit will continue to be given based on alternate means of identification. It also directed the departments to provide Aadhaar enrolment facilities to their beneficiaries under Regulation 12 of Aadhaar (Enrolment and Update) Regulations 2016.

Considering the usefulness of Aadhaar in curbing leakages and bringing transparency in delivery system, the Government has recently issued orders to use Aadhaar in several other welfare schemes funded from the Consolidated Fund of India. While these orders require beneficiaries of these programs to give their Aadhaar number, it has also been ensured that no one is deprived of the benefits for want of Aadhaar.

In case of Mid Day Meal scheme and under the Integrated Child Development Scheme, the schools and Anganwadis have been asked to collect the Aadhaar number of the children beneficiaries and in case a child does not have Aadhaar, the school or ICDS functionary will be required to provide enrolment facilities to a child and till Aadhaar number is assigned, the benefits will be continue.

Aadhaar has been given to more than 112 Crore people. With such wide and extensive coverage, Aadhaar has become an important tool of transformation, good governance and empowerment of people. It ensures that the benefits reach only the deserving and entitled individuals and are not cornered away by fake persons and middlemen. Various studies and survey had earlier pointed out massive leakages in welfare schemes. During the last two and half years, Aadhaar has helped in direct delivery of benefits to crores of people through the Direct Benefit Transfer (DBT) in schemes such as LPG subsidy under Pahal, Scholarships, MNREGA, and Pensions. In the Public Distribution System, Aadhaar is also ensuring that the food grains are received only by the genuine beneficiaries and not diverted by any middle man or unscrupulous elements. It has, thus, saved huge sums of public money which otherwise was being siphoned away by middlemen. The total savings because of plugging of leakages due to Aadhaar during the last two and half years in just a few schemes where Aadhaar has been implemented amount to more than Rs 49,000 Crore.

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Godrej Consumer Products launches New HIT Gel Stick
Mar 07,2017

Godrej Consumer Products has introduced New HIT Gel Stick, an industry first cockroach solution in a transparent gel format with a brush applicator that is safe for Kitchen and hands yet 3X more powerful priced at Rs 30.

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Indiabulls Ventures allots 2,46,50,000 Equity shares
Mar 07,2017

Indiabulls Ventures (formerly Indiabulls Securities) (the Company) has issued and allotted an aggregate 2,46,50,000 Equity shares of face value Rs. 2/- each, to promoter group entities, upon exercise/conversion of equivalent number of warrants, which were allotted pursuant to and in terms of shareholders approval dated 15 July 2016. Consequent to the said allotment, the paid-up Equity Share Capital of the Company stands increased to Rs. 63,79,13,840 divided into 31,89,56,920 equity shares of face value Rs. 2/- each.

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Infosys partners with The Housing Bank
Mar 07,2017

The Housing Bank and Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys announced the selection of Finacle Suite of solutions to power the Banks operations in Algeria. The Bank has chosen to deploy the Finacle Core Banking, Trade Finance and Internet Banking solutions and will also deploy the Finacle Islamic Banking Solution for its Shariah banking product. The Finacle Analytics solution will enable the bank to offer targeted and customised offering to its customers. With Finacle, the Housing Bank Algeria will not only achieve a significant jump in operational efficiencies, but will also accelerate growth, manage scale and drive innovation.

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Oasis Tradelink announces resignation of company secretary
Mar 07,2017

Oasis Tradelink announced that meeting of Board of directors of the Company held on 23 February 2017 and in that meeting Nidhi Jain, Company Secretary and Compliance Officer of the Company has resigned from the Position of Company Secretary cum compliance officer. The board has approved her resignation with immediate effect.

Further the Company has informed that, Snehalbhai Bharatbhai Patel, Whole-time Director is appointed as the compliance officer, for the interim period, till the appointment of a qualified company Secretary.

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DCB Bank allots 43,000 equity shares
Mar 07,2017

DCB Bank has allotted 43,000 equity shares of Rs.10/- each on March 07, 2017, pursuant to the terms of the Employee Stock Option Plan (ESOP) of the Bank. Post this allotment, Banks issued and paid up share capital has increased to 285,158,403 shares of Rs.10/- each.

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Apollo Hospitals Enterprise allots NCDs aggregating Rs 200 crore
Mar 07,2017

Apollo Hospitals Enterprise announced that the Debenture Allotment Committee of the Board of Directors of the Company at its meeting held on 07 March 2017, has approved and allotted 2000 Rated Secured Non Convertible Debentures of Rs 10 lakh each aggregating Rs 200 crore to HDFC Bank. The said NCDs shall be listed in the whole sale debt market segment of NSE.

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Indiabulls Housing Finance allots 61,605 units
Mar 07,2017

Indiabulls Housing Finance has issued and allotted 61,605 (Sixty One Thousand Six Hundred Five only) Equity shares of face value Rs 2/- each, to eligible employees upon exercise of options vested in their favour under different ESOP Schemes of the Company. Consequent to the said allotment, the paid-up Equity Share Capital of the Company stands increased to Rs 84,77,12,080/- divided into 42,38,56,040 Equity Shares of face value Rs 2/- each.

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Board of Shree Krishna Paper Mills & Industries appoints director
Mar 07,2017

Shree Krishna Paper Mills & Industries announced that the Board of Directors, at its meeting held on 07 March 2017, has appointed Rajesh Muju as an Additional Director (Non-executive, Independent) with immediate effect to hold office upto the date of ensuing Annual General Meeting.

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Gandhi Special Tubes announces resignation of company secretary
Mar 07,2017

Gandhi Special Tubes announced that Priyanka M. Borkar has resigned from the post of Company Secretary and Compliance Officer w.e.f. 01 February 2017. The Company has accepted her resignation and relieved her of her responsibilities effective from close of business hours on 6 March 2017. Consequently, Priyanka M. Borkar has also ceased to be the Compliance Officer of the Company

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BLS International Services to hold EGM
Mar 07,2017

BLS International Services announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 31 March 2017.

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Board of NMDC recommends dividend
Mar 07,2017

NMDC announced that the Board of Directors of the Company at its meeting held on 7 March 2017, inter alia, have recommended the dividend of Rs 4.15 per equity Share (i.e. 41.5%) , subject to the approval of the shareholders.

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