John F. Clark 
The Income Tax department has “advanced” into a “provider-oriented” branch from simply being a tax regulation implementation entity, a top officer said right here on December five.
“The IT branch has developed from an administrative and tax laws implementation department to a provider-oriented department,” stated Principal Chief Commissioner, Income Tax, Ashu Jain.
He was speaking at a programme organized right here through the branch to reach out to taxpayers.
At the event, Jain asked the taxpayers to pay the 0.33 installment of Advance Tax with the aid of December 15 this year. He also discussed various services offered by his branch for the taxpayers.
More than 300 delegates from various commercial bodies in the Thane district participated in the programme.
Shri Krishna, Principal Commissioner of Income Tax, Thane, stated comparable programmes had been carried out in the past at Thane, Kalyan, Panvel, Palghar, except at various educational establishments.
Nitya Nand Mishra, CCIT, Anne, said the government apprised the members approximately various taxpayer offerings such as re-submitting, redressal of grievances with the aid of CPGRAM, e-nivaran, and also about the offerings being furnished through 400 ASK centers.
He said the IT department has installed PAN (Permanent Account Number) kiosks at many places where the assesses can get the requisite information.
Real property firm Shriram Properties has filed draft papers with markets regulator SEBI for an initial public provide, through which it targets to raise Rs 1,250 crore, resources stated.
The IPO incorporates sparkling difficulty aggregating as much as Rs 250 crore besides an offer on the market of up to 42,403,271 shares via existing shareholders, including Tata Capital Financial Services and TPG Asia, draft papers filed with SEBI showed.
The corporation is looking to do not forget a pre-IPO placement of up to Rs 100 crore.
Sources stated the IPO length is envisioned to be around Rs 1,250 crore.
Funds raised via the program might be utilized to reimburse certain borrowings availed using the corporation or its subsidiaries, and for popular corporate functions.
Axis Capital, Edelweiss Financial Services, JM Financial, and Nomura Financial Advisory and Securities will manage the company’s public relations
The equity shares may be listed on the BSE and NSE.
Shriram Properties, part of the Shriram Group, is a leading residential real estate development corporation in South India, ordinarily targeted at the mid-market and low-cost housing classes.
Baba Ramdev’s Patanjali Ayurved continues to be inquisitive about taking on bankruptcy-bound Ruchi Soya after the highest bidder, Adani Wilmar, wrote to the decision expert, raising issues over the deterioration of the asset exceptional edible oil company, because of the delay in the final touch of the insolvency process.
In December 2017, Indore-primarily based Ruchi Soya Industries entered the Corporate Insolvency Resolution Process (CIRP).
Shailendra Ajmera was appointed decision expert (RP) by the NCLT to apply to lenders Standard Chartered Bank and DBS Bank under the Insolvency and Bankruptcy Code.
According to sources, Adani Wilmar, who was declared the highest bidder in August to acquire Ruchi Soya with around Rs 6,000 crore after a long-drawn conflict with Patanjali, wrote to the RP concerning the great delays in the decision-making process, which is leading to a deterioration of the assets.
The organization has asked the RP why the need to buy the deteriorated assets at the identical rate, including that the technique was not on time, as Patanjali moved to the NCLT Mumbai difficult the lender’s decision.
When contacted, S K Tijarawala, the spokesperson of Patanjali, which stood 2nd in the bidding method, said it is inquisitive about obtaining Ruchi Soya.
“Yes, we’re interested. If we are allowed, then we are prepared for the takeover of Ruchi Soya as it’s far,” he told PTI. Patanjali has written to the committee of lenders (CoC) that it might shape the offer.
Stating that the property of Ruchi Soya has deteriorated, Tijarawala stated, “We are nonetheless inquisitive about taking up Ruchi Soya.”
When contacted, an Adani Wilmar spokesperson did not touch upon the issue.
Patanjali Ayurved has approached the NCLT, challenging the selection by Ruchi Soya’s creditors to approve Adani Wilmar’s Rs 6,000 crore takeover bid. Patanjali institution got here 2nd with a Rs five,seven-hundred crore bid.
Meanwhile, Ruchi Soya, in a submission to the BSE on December 24, said that the “resolution plan submitted with the aid of the successful resolution applicant is presently pending for approval earlier than NCLT, Mumbai.” The subsequent date of listening is January 15, it introduced.
Ruchi Soya has a total debt of about Rs 12,000 crore. The business enterprise has many production facilities, and its leading manufacturers include Nutrela, Mahakosh, Sunrich, Ruchi Star, and Ruchi Gold.
Adani Wilmar was decided on by using the CoC after rounds of bidding.
Before moving the NCLT, Patanjali Ayurved had questioned the eligibility of the Adani Group to participate in the bidding process. It had additionally sought to recognize the parameters adopted with the aid of the RP to claim Adani Wilmar as the best bidder.
