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TN: IT Dept seizes cash worth INR 32.6 Cr, 10 kg gold in search ops against company

The Income Tax (IT) agency, working on relevant information, seized uncounted money worth INR 32.6 Cr and about 10 kg gold in a search operation covering 20 properties, including a company's homes, warehouse, and offices. As per the Central Board of Direct Taxes (CBDT), the action was taken against a company involved in the business of manufacturing certain advanced products that are supplied to the health sector in India and abroad. CBDT added that The IT team found the company's budget had been deliberately distorted by fake or manipulated invoices. The company and its founders' undisclosed income are valued at around INR 435 Cr. Src: https://bit.ly/2qq6DD5

@Business Business @Business, 31 Oct 2019 At 01:04 PM

Founders of Flipkart to invest INR 125 crore in IIT -Delhi fund

The Indian Institute of Technology, Delhi is set to launch its "IIT-Delhi Global Alumni Endowment Fund" on Thursday at the Rashtrapati Bhavan after setting up an alumni endowment target of a billion dollars by 2025. It has received a launch commitment of Rs 255 crore, of which Rs 125 crore is being committed by the co-founders of Flipkart - Binny Bansal and Sachin Bansal, both an alumni of the institution. The institute has been making efforts towards creating an endowment fund backed by its alumni in line with the likes of Harvard University for the past couple of years. Src: https://bit.ly/2JDqMvJ

Do you stand with @Flipkart

I stand with @Flipkart

3 votes

I don’t

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Founders of Flipkart to invest INR 125 crore in IIT -Delhi fund

The Indian Institute of Technology, Delhi is set to launch its "IIT-Delhi Global Alumni Endowment Fund" on Thursday at the Rashtrapati Bhavan after setting up an alumni endowment target of a billion dollars by 2025. It has received a launch commitment of Rs 255 crore, of which Rs 125 crore is being committed by the co-founders of Flipkart - Binny Bansal and Sachin Bansal, both an alumni of the institution. The institute has been making efforts towards creating an endowment fund backed by its alumni in line with the likes of Harvard University for the past couple of years. Src: https://bit.ly/2JDqMvJ

Do you stand with @Flipkart

I stand with @Flipkart

3 votes

I don’t

10 votes