Companies & Sectors
Piramal Enterprises acquires US firm for $24.5 mn

"Piramal Enterprises' step-down wholly owned subsidiary in the USA, Decision Resources Group today announced the acquisition of all of the assets of Adaptive Software and entire control and ownership of its wholly owned subsidiary, AdaptiveRx on February 29, 2016," it told the Bombay Stock Exchange in a regulatory filing

 

Piramal Enterprises on Tuesday said it has acquired US-based healthcare software firm Adaptive Software for $24.5 million.
 
"Piramal Enterprises' step-down wholly owned subsidiary in the USA, Decision Resources Group today announced the acquisition of all of the assets of Adaptive Software and entire control and ownership of its wholly owned subsidiary, AdaptiveRx on February 29, 2016," it told the Bombay Stock Exchange in a regulatory filing.
 
"Total potential consideration to be paid to Adaptive is $24.5 million," the statement said.
 
Adaptive Software, located in Kansas City, currently offers to health plans and pharmacy benefit managers (PBMs) a suite of software solutions that streamlines formulary management, pharmacy networking, pricing, and pharmacy benefit design.
 
“No governmental or regulatory approvals are required for this transaction,” the statement added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 
 

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CBI to set up cyber-crime investigation branch in Mumbai

For this, the Maharashtra government has been requested to notify the CBI for taking up investigation of offences under the Information Technology Act, 2000

 

The Central Bureau of Investigation is planning to set up a cyber-crime investigation branch here, its director Anil Sinha said here on Tuesday.
 
For this, the Maharashtra government has been requested to notify the CBI for taking up investigation of offences under the Information Technology Act, 2000, he said, while inaugurating the agency's new city headquarters at Bandra-Kurla Complex here.
 
Addressing the gathering, he said that though the CBI started as an anti-corruption agency, in the past few decades, its scope has increased to cover economic offences, serious frauds and sensational cases.
 
"CBI is now a federal investigative agency which can probe most of the offences which affect public life in general and which have a direct bearing on the quality of life of the common man," Sinha said.
 
In this context, he said that the number of cases handed over to CBI by the courts and various state governments has been mounting over the years.
 
Discussing graft, Sinha said corruption flourishes due to three factors - opportunities, social acceptance and freedom from risks.
 
"It is the duty of the Vigilance setup to reduce opportunities, it is the duty of the citizens to complain, inform and be intolerant of corruption, and is the duty of investigative agencies like CBI and state ACBs to effective detect and prosecute the guilty to instill fear in them,"he stressed.
 
Noting Mumbai is the country's financial capital with headquarters of all major public and private sector banks, financial institutions, major gateway for imports-exports which directly impinge on the Indian economy besides a very high density of key government departments like banks, railways, customs, central excise, oil companies, defence establishments and PSUs, he said these offer an umpteen number of interactions between the citizens, businessmen, professionals and middlemen on one side and government departments, banks and financial institutions on the other.
 
He urged all officers to work harder to provide better services and be responsive to public complaints and informants, make witnesses feels safe and secure.
 
Keshav Kumar, CBI joint director, Mumbai Zone, said the new building will house all CBI branches like Anti-Corruption Branch, Economic Offences Wing, Banking & Securities Fraud Cell, Special Task Force and Special Crime Branch.
 
The ground plus 13 storey green building also has two basement floors and other top-class modern amenities, constructed on a 1,500 sq. metres plot at a cost of Rs.103 crore, said Kumar.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Sahara's Aamby Valley sealed for tax default

A team of officials swooped on the township situated on the outskirts of the famous Lonavala hill station to seal the property's main gates and its administrative sections

 

Sahara Group's flagship project, Aamby Valley Resort, has been sealed by the Maharashtra government for non-payment of non-agriculture taxes of around Rs.4.50 crore, an official said on Tuesday.
 
A team of officials swooped on the township situated on the outskirts of the famous Lonavala hill station to seal the property's main gates and its administrative sections.
 
However, the back entrance had been kept open for the resort staffers and residents to enter and exit for the time being, an official said.
 
The officials also served a notice to the resort authorities to clear the two-year old dues by March-end, failing which the government would initiate legal proceedings.
 
Aamby Valley, labelled a hill city paradise for the rich and famous, is spread across around 4,300 hectares of lush green hills with a large natural lake and three artificial lakes on the property in Pune district.
 
Constructed in 2003, Aamby Valley boasts of a private airstrip, an 18-hole golf course, premium chateaus, villas and bungalows, shopping plazas, boating and a good all-year round weather.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Meenal Mamdani

1 year ago

Last I remember reading,Amitabh Bachhan was deeply involved in this scam. What is the latest? Which political bigwig or celebrity will step up to protect Mr. Roy?

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