Author: Legal Parivar

Tax season can seem daunting, but in India, you’re not required to file an Income Tax Return (ITR) if your income is below the basic exemption limit, which varies based on age and tax regime. Here’s a breakdown of the thresholds under the old regime: Under the new tax regime, the filing threshold is a uniform ₹3 lakh for individuals, Hindu Undivided Families (HUFs), and other individuals (excluding companies and firms). However, filing an ITR is mandatory if your total income exceeds the basic exemption limit. Additionally, certain types of income, such as capital gains or earnings from foreign assets,…

India’s fastest-growing mutual fund, Quant Mutual Fund, is currently under scrutiny by the Securities and Exchange Board of India (SEBI) for suspected front-running practices. Front-running involves placing personal orders ahead of large trades to capitalize on anticipated price movements, which is illegal. This development has raised concerns among investors about the safety of their investments. Despite the investigation, mutual fund experts believe that the impact on investors might be minimal due to Quant Mutual Fund’s robust investment strategy focused on quality stocks. Notable holdings include Reliance Industries, Jio Financial Services, HDFC Bank, Adani Power, Tata Power, SAIL, LIC, and Aurobindo…

The Supreme Court of India has withheld its decision on Delhi Chief Minister Arvind Kejriwal’s plea challenging the Delhi High Court’s suspension of his bail in the excise policy scam case. The apex court announced it would await the Delhi High Court’s verdict and scheduled further hearings for June 26. The Delhi High Court halted Kejriwal’s release on Friday, overturning a bail granted by a trial court on June 20. In a notable observation, the Supreme Court vacation bench remarked on the unusual nature of the Delhi High Court’s stay order, emphasizing that decisions on stay applications are typically instantaneous…

Sylvan Plyboard IPO: Sylvan Plyboard (India) Ltd launched its initial public offering (IPO) on June 24 and achieved full subscription on the first day itself. This SME IPO will continue accepting bids until June 26. Sylvan Plyboard (India) Ltd manufactures various wood products and operates through 223 authorized dealers across 13 states. As of the first day, Sylvan Plyboard IPO has been subscribed 1.28 times, with bids received for 61.88 lakh equity shares against the total offer of 48.44 lakh shares by 3:00 pm. The subscription rate is 1.43 times in the retail category and 0.65 times in the Non-Institutional…

The Securities Appellate Tribunal (SAT) has temporarily halted the enforcement of a Securities and Exchange Board of India (SEBI) order penalizing Rajib Kumar Mishra, former non-executive director of PTC India Financial Services (PFS), according to a ruling dated June 21. SEBI had fined Mishra and former MD/CEO Pawan Singh for corporate governance lapses. Mishra, also chairman of PTC India, was penalized Rs 10 lakh and barred from holding board positions in listed companies for six months. Singh was fined Rs 25 lakh and barred for two years. Mishra contested SEBI’s order at SAT, which granted SEBI four weeks to respond…

Stock Markets Today: Larsen & Toubro, ABB, Siemens, and other stocks have shown significant gains ranging from 50% to 103% over the past year. Siemens’ share price has more than doubled, while GE T&D India Ltd and Hitachi Energy have seen remarkable increases of 111% to 631%. Foreign Portfolio Investors (FPIs) have played a crucial role in bolstering these gains, showing strong confidence in Capital Goods stocks amidst a positive outlook. Despite being net sellers of equities worth over $3 billion in May, FPIs have made net equity investments totaling $723 million in the sector this year, as per NSDL…

Four members of the Hinduja family, namely Kamal Hinduja, Prakash Hinduja, Ajay Hinduja, and his wife Namrata Hinduja, all Swiss nationals, have denied facing any imprisonment, conviction, sentence, or detention for alleged exploitation of their Indian employees, as claimed by a spokesperson for the group. “The case no longer has any complainants, who themselves admitted in court that they were coerced into signing statements they did not comprehend. They neither intended nor initiated these proceedings. Additionally, all four Hinduja family members testified that they treated their employees with respect, dignity, and as part of their family,” the spokesperson stated. The…

The Indian government has taken decisive steps to stabilize wheat prices and curb potential hoarding by implementing a stockholding limit effective from Monday. This measure applies to retailers, wholesalers, processors, and large-chain retailers across the country. The primary objective is to prevent artificial scarcity of wheat and maintain price stability in the market. According to Sanjeev Chopra, Union Food Secretary, who addressed the media during a press briefing, the new regulations mandate that single retailers, big-chain retailers, processors, and wholesalers must disclose their wheat stocks every Friday. This transparency is aimed at ensuring accountability and preventing any undue accumulation of…

Krisumi Corporation, a joint venture between Krishna Group and Japan’s Sumitomo Corporation, is set to invest Rs 2,000 crore in Gurugram to develop 1,051 luxury apartments as part of its expansion strategy amid robust demand for residential properties. The company is currently executing ‘Krisumi City’, a large luxury township in Sector 36A, Gurugram. The first phase, known as ‘Waterfall Residences’ comprising 433 units, is nearing completion, while the second phase, ‘Waterfall Suites’ with 320 units, is slated for delivery by 2028. Announcing its plans on Monday, Krisumi revealed that the investment will primarily fund Phase 3 and Phase 4 of…

Waaree Energies announced on Monday that it has secured a contract to supply solar modules for a 412 MWp project in Rajasthan. The project, anticipated to be operational by March 2025, will utilize bi-facial solar modules with capacities ranging from 540-545 Wp (watt peak) each. Bi-facial modules can absorb sunlight from both sides, enhancing their efficiency. “Waaree Energies has secured a significant module supply contract for Acciona Energy’s subsidiary Juna Renewable’s 412.5 MWp Project in Rajasthan,” the company stated, without disclosing further specifics about the order. Waaree Energies is renowned as one of India’s leading manufacturers of solar photovoltaic (PV)…