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Sunstar Realty Development appoints company secretary and compliance officer
Mar 31,2017

Sunstar Realty Development announced that the Board approved the appointment of Prashant Agarwal as Whole Time Secretary and Compliance Officer of the Company with immediate effect.

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Future Lifestyle Fashions announces cessation of subsidiaries
Mar 31,2017

Future Lifestyle Fashions announced that its subsidiary, FLFL Lifestyle Brands raised funds by way of issue of equity shares to the Investors. Post such issue of equity shares by FLBL to the Investors, the Companys equity stake in the FLBL has been diluted to 49% of the paid up equity capital of FLBL and hence it has ceased to be a subsidiary of the Company.

Consequently, Future Style Lab, Rachika Trading, Mineral Fashions, Elisir Lifestyle and Indus-Leaque Clothing (subsidiaries of FLBL and hence, step down subsidiaries of the Company) also ceased to be subsidiaries of the Company.

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Eight core industries output up 1% in February 2017
Mar 31,2017

The output of eight Core Industries comprise nearly 38% of the weight of items included in the Index of Industrial Production (IIP) rose at moderated pace of 1.0% in February 2017, compared with 3.4% growth recorded in January 2017. The cumulative output growth stood at 4.4% in April to February 2016-17.

Coal production (weight: 4.38%) increased by 7.1% in February, 2017 over February, 2016. Its cumulative index during April to February, 2016-17 increased by 2.8% over corresponding period of previous year.

Crude Oil production (weight: 5.22%) declined by 3.4% in February, 2017 over February, 2016. Its cumulative index during April to February, 2016-17 declined by 2.8% over the corresponding period of previous year.

The Natural Gas production (weight: 1.71%) declined by 1.7% in February, 2017 over February, 2016. Its cumulative index during April to February, 2016-17 declined by 1.9% over the corresponding period of previous year.

Petroleum Refinery production (weight: 5.94%) declined by 2.3% in February, 2017 over February, 2016. Its cumulative index during April to February, 2016-17 increased by 5.9% over the corresponding period of previous year.

Fertilizer production (weight: 1.25%) declined by 5.3% in February, 2017 over February, 2016. Its cumulative index during April to February, 2016-17 increased by 2.1% over the corresponding period of previous year.

Steel production (weight: 6.68%) increased by 8.7% in February, 2017 over February, 2016. Its cumulative index during April to February, 2016-17 increased by 9.1% over the corresponding period of previous year.

Cement production (weight: 2.41%) declined by 15.8% in February, 2017 over February, 2016. Its cumulative index during April to February, 2016-17 declined by 0.7% over the corresponding period of previous year.

Electricity generation (weight: 10.32%) increased by 1.5% in February, 2017 over February, 2016. Its cumulative index during April to February, 2016-17 increased by 5.0% over the corresponding period of previous year.

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Interglobe Aviation announced incorporation of subsidiary - Agile Airport Services
Mar 31,2017

Interglobe Aviation has incorporate a wholly owned subsidiary - Agile Airport Services.

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Interglobe Aviation announces incorporation of subsidiary - Agile Airport Services
Mar 31,2017

Interglobe Aviation has incorporate a wholly owned subsidiary - Agile Airport Services.

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Board of Starcom Information Technology appoints CFO and Director
Mar 31,2017

Starcom Information Technology announced that the Board of Directors of the Company at its meeting held on 31 March 2017 have inter-alia transacted the following business -

1.Approved the appointment of Mukhtar Ahmad as the Chief Financial Officer (CFO) of the Company with effect from 31 March 2017.

2.Approved the Appointment of MY khan as the Independent Director(Additional Director), with effect from 31 March 2017.

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CBDT notifies new Income Tax Return Forms for AY 2017-18
Mar 31,2017

The Central Board of Direct Taxes has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2017-18. One of the major reforms made in the notified ITR Forms is the designing of a one page simplified ITR Form-1 (Sahaj). This ITR Form-1 (Sahaj) can be filed by an individual having income upto Rs.50 lakh and who is receiving income from salary one house property / other income (interest etc.) . Various parts of ITR Form-1 (Sahaj) viz. parts relating to tax computation and deductions have been rationalised and simplified for easy compliance. This will reduce the compliance burden to a significant extent on the individual tax payer. This initiative will benefit more than two crore tax-payers who will be eligible to file their return of income in this simplified Form.

Simultaneously, the number of ITR Forms have been reduced from the existing nine to seven forms. The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of these three forms. Consequently, ITR-4 and ITR-4S (Sugam) have been renumbered as ITR-3 and ITR-4 (Sugam) respectively.

There is no change in the manner of filing of ITR Forms as compared to last year. All these ITR Forms are to be filed electronically. However, where return is furnished in ITR-1 (Sahaj) or ITR-4 (Sugam), the following persons have an option to file return in paper form:-

(i) an individual of the age of 80 years or more at any time during the previous year; or

(ii) an individual or HUF whose income does not exceed five lakh rupees and who has not claimed any refund in the return of income.

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Heritage Foods director resigns
Mar 31,2017

Heritage Foods announced the resignation of N Lokesh as Director in the Board of Directors of the Company with effect from 31 March 2017.

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Buffer stock of pulses crosses 16.88 lakh tonnes
Mar 31,2017

Government has procured around 16.88 lakh tonnes including 3.79 lakh tonnes of imports towards building the buffer stock of pulses of upto 20 lakh tonnes as on 28 March 2017.

Government has approved creation of a buffer stock of upto 20 lakh tonnes of pulses under the Price Stabilization Fund (PSF). The domestic procurement of the pulses is from farmers/farmers association at farm gate/Mandi through designated agencies like NAFED, FCI and SFAC. Government procured Arhar and Moong during KMS 2016-17 to extend MSP support to farmers and simultaneously build the buffer.

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Hinduja Ventures provides update on subsidiary - IndusInd Media & Communications
Mar 31,2017

Hinduja Ventures announced that its subsidiary, IndusInd Media & Communications (IMCL) has completed the issue of 36,953,438 equity shares of face value of Rs. 10/- each for cash at a premium of Rs. 195/- per share and has received an aggregate Rs 757.55 crore from existing shareholders/ renouncees in whose favour the shares were renounced. The infusion of the funds has resulted in IMCL being able to redeem the entire Redeemable Preference Shares of Rs. 270.36 crore, repay its ICDs of Rs. 370 crore and have a balance of over Rs. 120 crore to fund its expansion in Phases 3 and 4 of digitization programme of the Government of India.

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Chenani-Nashri Highway Tunnel: Beginning of a New Era in Road Connectivity
Mar 31,2017

The Prime Minister Shri Narendra Modi will dedicate Indias longest highways tunnel - the Chenani- Nashri tunnel in Jammu & Kashmir- to the nation on 2nd April, 2017. An ideal example of the governments Make in India and Skill India initiative, the 9 km long, twin-tube, all-weather tunnel between Udhampur and Ramban in Jammu & Kashmir is not only Indias longest highways tunnel but also Asias longest bi-directional highways tunnel. Built at an elevation of 1200 metres on one of the most difficult Himalayan terrains, the tunnel will cut the travel time between Jammu and Srinagar by two hours, bypassing about 41 kms of road length. It will also ensure an all weather passage on a route that often sees heavy traffic jams and disruptions due to landslides, snow, sharp curves, breakdown of vehicles and accidents.

The tunnel was constructed at a cost of about Rs 3720 crores. It is a part of the 286-km-long four-laning of the Jammu-Srinagar National Highway. The structure consists of a 9 km long, two-laned main tunnel with a parallel escape tunnel of same length. The two tunnels are connected by 29 cross passages at regular intervals along the entire length of the tunnel. These cross passages can be used for evacuation of vehicles and commuters in case of breakdown or any other emergency. There are two minor bridges on the south and north sides and 4-lane approach roads with Toll Plazas on both ends of the tunnel. The maximum height permitted in the tunnel is 5 meters and for checking the height special sensors have been installed just before the toll points at both ends.

The tunnel has an efficient, transverse ventilation system. There are inlets bringing fresh air at 8 metre intervals and outlet for exhaust every 100 metres. There is also a fully-integrated control system with ventilation, communication, power supply, incident detection, SOS call box and fire fighting. Fitted with intelligent traffic mechanism, the tunnel has fully automatic smart control and no human intervention will be required for its operations. The tunnel is also equipped with advanced scanners to ward off any security threat. Very few tunnels in the world have this kind of fully integrated tunnel control.

The project is also environment friendly. The time saving on the Jammu- Srinagar route will further result in fuel saving of approximately Rs 27 lakhs per day. Besides, the construction of the tunnel has avoided large -scale deforestation.

The Chenani-Nashri tunnel will have a very positive impact on the state economy. In line with the Skill India initiative of Prime Minister Shri Narendra Modi, the skill sets of local people were developed and improved, and they were engaged for construction of this tunnel. The project has provided employment to over 2,000 unskilled and skilled youth of Jammu and Kashmir as 94 percent of the work force was from the state. Around 600 to 900 people from across the country also worked on this project in 3 shifts over the past 4 years.

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Japans Official Development Assistance Loan to India for FY 2016
Mar 31,2017

The Notes were exchanged between Mr. S. Selvakumar, Joint Secretary, Department of Economic Affairs, Government of India and H.E. Mr. Kenji Hiramatsu, Ambassador of Japan to India. The Government of Japan has committed JICA Official Development Assistance loan for an amount of Yen 371.345 billion (=Rs.21590 crore approx. @ Exchange Rate of Re.1 = Yen 1.72.) under FY 2016 loan packages. The ODA loan assistance has been committed to Mumbai Trans Harbour Link Project (JPY 144.795 billion), Dedicated Freight Corridor Project (Procurement of Electric Locomotives) (JPY 108.456 billion), Chennai Metro Project (V) (JPY 33.321 billion), Andhra Pradesh Irrigation and Livelihood Improvement Project (Phase 2) (I) (JPY 21.297 billion), Rajasthan Water Sector Livelihood Improvement Project (I) (JPY 13.725 billion), Odisha Forestry Sector Development Project (Phase 2) (JPY 14.512 billion), Delhi Eastern Peripheral Expressway Intelligent Transport System (ITS) Installation Project (JPY 6.87 billion), Nagaland Forest Management Project (JPY 6.224 billion) and Tamil Nadu Investment Promotion Program (Phase 2) (JPY 22.145 billion).

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic partnership between India and Japan has steadily progressed. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan.

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Karnataka Bank opens 765th branch at Miyapadavu
Mar 31,2017

Karnataka Bank has opened its 765th Branch at Miyapadavu on 30 March 2017.

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Superspace Infrastructure appoints company secretary and compliance officer
Mar 31,2017

Superspace Infrastructure has appointment of Sumita Maheshwari (Gattani) as Whole Time Secretary and Compliance Officer of the Company with immediate effect at board meeting held on 31 March 2017.

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IDream Film Infrastructure Company appoints director
Mar 31,2017

IDream Film Infrastructure Company announced the appointment of Shamika Kadam as an additional Non Executive Director of the Company with effect from 31 March 2017.

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