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ASSOCHAM seeks fine prints of electoral bond scheme
Feb 08,2017

ASSOCHAM today said the fine prints of the electoral bond scheme for donations to the political parties by businesses and wealthy individuals should aim at maximising clean-up of the system and transparency in political funding.

n++Reducing the political anonymous donations limit to Rs 2,000 from Rs 20,000 per individual may not be fool-proof but is certainly a step forward. Along with this the other big move by the Finance Minister Mr Arun Jaitley to bring in the electoral bonds is an out of box idea. While there is a popular pressure for full transparency and disclosure of names of both the donors and the receivers of the political funds, there is also a merit in the government contention about protecting the identity of the donors as their identification could lead to bigger problems, n++the ASSOCHAM Secretary General Mr D S Rawat said.

He said no industrial house would like to be identified whether it donated to one political party or the other. This way, business houses could be trapped in political rivalry.

The ASSOCHAM said the fine-prints of the electoral bonds scheme should be worked in a manner to make it a credible tool of transparency in the election funding.

Alongside, the n++idea of state funding of elections should also be considered seriouslyn++.the industry which is committed to work for strengthening the Indian democracy would be happy to work with the Election Commission, government, political parties and the civil society to find a common solution to reduce the money power in the electoral process so that well meaning people who do not have financial resources can also come forward and make a qualitative changes in the Indian policy,n++ the chamber said.

It said, the Prime Minister Mr Narendra Modis suggestion of holding simultaneous elections for both the Lok Sabha and the state assemblies should also be considered seriously by all the political parties. n++Besides, exerting a lot of pressure on the administrative machinery of security forces, bureaucracy, teachers, frequent elections in some state or the other lead to enforcing Election Commission Code of Conduct, delaying the developmental schemes. Besides, it also leads to populist competitive politics, that may not always be growth oriented. Some of the schemes may yield immediate political dividend, but could be detrimental for long term gainsn++.

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Vaibhav Global extends post-result upmove
Feb 08,2017

Meanwhile, the S&P BSE Sensex was up 3.23 points or 0.01% at 28,338.39

On BSE, so far 1.12 lakh shares were traded in the counter as against average daily volume of 1,703 shares in the past one quarter. The stock hit a high of Rs 389 and a low of Rs 321 so far during the day. The stock had hit a 52-week high of Rs 390.50 on 9 March 2016. The stock had hit a 52-week low of Rs 236 on 23 May 2016.

The small-cap company has equity capital of Rs 32.54 crore. Face value per share is Rs 10.

Vaibhav Globals consolidated net profit surged 91.9% to Rs 22.28 crore on 14.6% rise in total income to Rs 409.21 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 7 February 2017. The stock rose 1.6% to settle at Rs 327.20 yesterday, 7 February 2017.

Vaibhav Global is an electronic retailer of discount fashion jewelry and lifestyle accessories.

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Board of Satia Industries approves merger of T.C. Spinners
Feb 08,2017

Satia Industries announced that the Board of Directors of the Company at its meeting held on 07 February 2017 has approved the merger of T.C Spinners with Satia Industries.

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The Government is not thinking to hike service tax if GST roll out is delayed
Feb 08,2017

The Government is not thinking to hike service tax if GST roll out is delayed. The Government is taking steps to expedite the GST and to take the concerns of the States on board.

Goods and Services Tax Council (GST Council) has been constituted on 15 September 2016 under Article 279A of the Constitution. The GST Council consists of the Union Finance Minister, the Union Minister of State in charge of Revenue or Finance and the Minister in charge of Finance or Taxation or any other Minister nominated by each State Government. The GST Council is presently deliberating on various issues entrusted to it. The GST Council has held nine meetings so far and has made recommendations with respect to thresholds, tax rates, GST Rules, treatment of existing tax incentives, Draft GST Compensation Law and Model GST Law for implementation of GST. All the decisions taken by the Council so far have been based on consensus. The Government is making concerted efforts in the form of IT readiness, rigorous consultations, workshops and training sessions for the industry and traders, and all other stake holders involved.

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Outcome of board meeting of Euro Asia Exports
Feb 08,2017

Euro Asia Exports announced that the Board of Directors of the Company at its meeting held on 07 February 2017 transacted the following -

The Board has appointed Shweta Gupta as an Additional Director of the Company with effect from 20 January 2017.

The Board has taken note of resignation of Kapil Mendiratta from the post of Company Secretary with effect from 12 January 2017.

The Board has approved change in registered office to Plot No. 3-A, 1st Floor, BLK-X, Loha Mandi, Naraina Industrial Area, New Delhi - 110028.

The Board approved opening of corporate office of the Company at D-50 Sushant Lok II, Sector-56, Gurgaon, Haryana - 122002.

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Cressanda Solutions to hold board meeting
Feb 08,2017

Cressanda Solutions will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider and approve the Un Audited Financial Results for the quarter ended December 31, 2017.

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Flexituff International to hold board meeting
Feb 08,2017

Flexituff International will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve Unaudited Standalone Financial Results for the quarter & period ended on 31 December 2016.

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Anil to hold board meeting
Feb 08,2017

Anil will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider un-audited financial results for the quarter ended on 31 December 2016

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CHPL Industries to hold board meeting
Feb 08,2017

CHPL Industries will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and take on record the Un-audited Financial Results of the Company for the quarter ended 31 December 2016.

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Alps Motor Finance to hold board meeting
Feb 08,2017

Alps Motor Finance will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the unaudited financial results along with Limited Review Report of the Company for the quarter ended 31 December 2016.

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Innocorp to hold board meeting
Feb 08,2017

Innocorp will hold a meeting of the Board of Directors of the Company on 13 February 2017, to consider the Un-Audited Financial Results for the Third Quarter ended 31 December 2016

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Rajlaxmi Industries to hold board meeting
Feb 08,2017

Rajlaxmi Industries will hold a meeting of the Board of Directors of the Company on 14 February 2017, to Consider and approve the Limited Review Report on the Un-audited Financial Result for the Quarter ended 31 December 2016.

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Stewarts & Lloyds of India to hold board meeting
Feb 08,2017

Stewarts & Lloyds of India will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and take on record the Un Audited Financial Results of the Company for the quarter ended 31 December 2016

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Goenka Diamond & Jewels to hold board meeting
Feb 08,2017

Goenka Diamond & Jewels will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the financial results for the quarter ended 31 December 2016 and Limited Review Report thereupon.

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Bullish Bonds & Holdings to hold board meeting
Feb 08,2017

Bullish Bonds & Holdings will hold a meeting of the Board of Directors of the Company on 14 February 2017, to approve Un-Audited Financial Results along with Limited Review Report for the Quarter ended on 31 December 2016.

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