IL&FS Scam: ED raids at 12 locations in Chhattisgarh, MP
Tightening its noose in the IL&FS (Infrastructure Leasing and Financial Services) case, the Enforcement Directorate (ED) on Wednesday carried out searches at over 12 locations in Madhya Pradesh and Chhattisgarh.
 
A senior ED official said that the central financial probe agency was carrying out searches at 12 locations in Madhya Pradesh and Chhattisgarh on the premises linked to the defaulter company.
 
The official said that the defaulter company received amount to the tune of Rs 111.29 crore in its bank account.
 
The official, however, refused to share the names of the people whose premises were raided.
 
The ED had registered a case of money laundering under various sections of the Prevention of Money Laundering Act on the basis of a case filed by the Delhi Police's Economic Offence Wing (EOW) in February this year.
 
The Delhi Police had filed a case under several sections of the Indian Penal Code for criminal conspiracy and forgery on the complaint of Ashish Begwani, Director of New Delhi-based Enso Infrastructures.
 
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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    DoT cracks whip, tells telcos to pay pending AGR dues fast
    The Department of Telecom (DoT) has asked telecom licencees to speed up the process of self-assessment of adjusted gross revenue (AGR) based dues and the payment of over Rs 1.47 lakh crore and submit comprehensive representation on previous issued demands latest by December 13, 2019.
     
    The letter issued by the DoT has been viewed by IANS. The deadline for payment of AGR dues is January 23, 2020.
     
    Three telcos -- Airtel, Vodafone Idea and Tata Tele -- have filed review petition of the Supreme Court order in October, which paved the way for the DoT to seek AGR dues, penalty and interest from the telcos. 
     
    "The comprehensive representation shall be submitted within a week latest by December 13, 2019," DoT said in the letter to the telecom licensees, adding that majority of the licence fee assessments have been settled after the SC judgement and for any remaining issues, a comprehensive representation needs to be submitted to the department. 
     
    In light of the Supreme Court order on AGR computation, all the annual assessment for licence fees and spectrum usage charges for relevant years are being re-examined. 
     
    "And now since all the earlier demands are being re-examined with respect to the SC judgement, you are requested to kindly submit a comprehensive year-wise, circle-wise representation except for issues which have been decided by the SC," the letter said.
     
    "In this regard, it is pointed out that over a course of time, multiple representations related to LF (licence fee) assessments were received from various licencees for consideration by the department," the DoT letter added.
     
    Further, self-assessment of dues and payments along with the submission of relevant documents as per a licence finance wing letter of November 13 needs to be expedited, the letter said.
     
    Any issues should be pointed out in the comprehensive representation to be submitted but in no case the self assessment of the dues and payments along with the submission of relevant documents are to be delayed, it pointed out.
     
    The Supreme Court decided in favour of the government's contention that all revenues, including that from non-core sources, would be counted in calculating AGR. Licence holders have to pay about 8 per cent of AGR to the DoT as fees. Telcos also pay about 3-4 per cent of AGR as spectrum usage charges.
     
    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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    Slowdown Saga: November auto sales decline by 12%
    Domestic automobile sales continued to decline in November with the overall sectoral off-take plunging 12.05 per cent on a year-on-year basis, data showed on Tuesday.
     
    According to the data furnished by the Society of Indian Automobile Manufacturers (SIAM) the sector's total sales declined to 1,792,415 units in November from 2,038,007 units sold during the corresponding month of the previous year.
     
    Segment wise, the off-take of passenger vehicle sales during the month under review slipped by 0.84 per cent to 263,773 units this November on a year-on-year basis.
     
    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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