I-T searches 130 premises of Joyalukkas jewellery

Agencies
January 10, 2018

The Income Tax Department today conducted country-wide searches at over 100 stores and other premises belonging to two major south-India based jewellery chains on charges of alleged tax evasion, official sources said.

The action is being carried out against Kerala-based jewellery group Joyalukkas and another firm connected with it.

I-T sleuths are raiding 130 premises of the business houses in the cities of Chennai, Hyderabad, Thrissur and other locations in Kerala, Karnataka, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Delhi and West Bengal, I-T sources said.

The action, they said, is aimed at checking alleged tax evasion following demonetisation in the two firms. Tax sleuths detected huge cash deposits and sale figures of gold, diamond and jewellery in their accounts.

The Chennai wing of the department is coordinating the nation-wide action, involving over 100 tax sleuths and a number of police teams, sources said.

Comments

Abdul Razak
 - 
Wednesday, 10 Jan 2018

Joy Alukkas is world biggest company, even though its GOS Jesus christian follower company, i can see lots of negative from mulims in disguise of hindu names below. GOD Jesus christ bless Joy alukkas

Mohan
 - 
Wednesday, 10 Jan 2018

Finally!!! Great job!

Bala Iyer
 - 
Wednesday, 10 Jan 2018

It is a mystery why the Saravana Group does not attract the attention of any agency.

Rahul
 - 
Wednesday, 10 Jan 2018

Raid them thoroughly and destroy this nest of black money hungry snakes.

Unknown
 - 
Wednesday, 10 Jan 2018

Tax raids were almost forgotten during the last 10 years of congress rule! Why? Same intelligence was there, but it was used to force the target to give donations to party fund.

Anonymous
 - 
Wednesday, 10 Jan 2018

Reliance Jewelers and Gujjus are not making good business. Time to raid these south Indian companies.

Srinivasa Bhat
 - 
Wednesday, 10 Jan 2018

missionaries money. their family has three different groups.. one more gold loan group having more than 10000 branches in all over India, even they penetrated place like munger,jamalpur, gonda, like small towns.. Where ever they working they placed kerla Christian should be there and he/she is responsible & coordinator between local church authority & foreign donor/ conversion group.

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News Network
July 16,2020

Bengaluru, Jul 16: Former Prime Minister and JDS supremo H D Devegowda on Thursday gave a clarion call to party workers to take steps to strengthen the party from the grossroots level and to 'expose the failures' and 'anti-people' policies of BJP government both at the Centre and State.

In an open letter to the workers here, he alleged that the urgent need is to create awareness among the people about failure of the governments which have brought in policies which are deterrent to the poor and downtrodden.

BJP government headed by Chief Minister B S Yediyurappa in Karnataka has come up with an amendment to the Land Reforms Act,1961, which is 'against' interests of the small and medium farmers as even a non-agriculturist can purchase agriculture land, thus giving an opportunity to the rich people to 'exploit' illiterate farmers and purchase their land and use it for some other purpose after some time.

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News Network
January 8,2020

Bengaluru, Jan 8: The second instalment of flood relief funds from the Centre, announced on Monday, has left BS Yediyurappa less than cheerful, with the chief minister insisting that it is barely adequate. The CM on Tuesday said he will urge the Union government to release more.

On Monday, the Centre announced it will release Rs 669.8 crore in addition to the Rs 1,200 crore it had released earlier towards flood relief and rehabilitation. The total sum is a small fraction of the loss, which the government pegged at a staggering Rs 38,000 crore.

“The Centre has released assistance in two instalments so far, but it is inadequate given the magnitude of the damage. I will request for more funds and I am confident the Centre will oblige,” Yediyurappa told reporters.

When Prime Minister Narendra Modi had visited the state last week, Yediyurappa had urged him — even openly at a function — to release funds. This followed several pleas over the past four months, which barely drew a response from the Centre. Now, the CM himself suggests it’s barely a drop in the ocean.

The opposition has been criticizing both Yediyurappa and the Centre for their handling of the situation and on Tuesday, leader of the opposition Siddaramaiah of the Congress criticised the CM for “misguiding people” on the sum released by the Centre.

Siddaramaiah tweeted, “Reports from State govt officials say only Rs 669 cr of addl funds are released in 2nd instalment as opposed to the claim of Rs 1,870 cr by Karnataka BJP leaders. At a time when manufacturing industries are closing, BJP’s fake news factory is running at full potential ".

In another tweet, he said, “Moved by the plea of chief minister, Yediyurappa, Prime Minister Narendra Modi released an additional Rs 669.8 crore, taking the total amount to Rs 1,869.8 crore. BJP leaders, who are devotees of the god of lies, attempts to depict the total relief amount as 1200+1869.85 = Rs 3,069 cr is ridiculous.”

A high-level committee chaired by Union home minister Amit Shah had sanctioned the National Disaster Response Fund (NDRF) funds on Monday. While the Press Information Bureau claimed Rs 1,869 crore was approved on Monday, state government officials clarified that the figure included the Rs 1,200 crore released in October.

Meanwhile, sources say the two instalments is all the assistance the state can expect from the Centre towards flood relief. Sources say the Rs 1,870 crore is roughly 60% of the funding — Rs 3,000 cr— which was supposed to be allocated for Karnataka, based on an inter-ministerial team’s assessment of losses in the state.

“Compared to other states for the same period, Karnataka has received the highest amount in flood relief. We cannot expect more,” said a revenue department official, who said the government will not approach the Centre for a special package.

However, revenue minister R Ashoka said the state will pitch for the entire Rs 3,000 crore. “The state government will pursue the matter with the Centre until it releases the entire Rs 3,000 crore. The state government will cover the remainder of the Rs 38,000 crore loss. We will not go back on our word,” Ashoka said. Incidentally, the state has spent about Rs 6,000 crore on relief and rehabilitation so far.

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News Network
January 21,2020

Jan 21: Info Edge (India)'s shareholding in Zomato reduces to 22.71%; Uber receives 9.99% stake in Zomato.

Info Edge (India) announced that Zomato Media (Zomato) has signed a definitive agreement to acquire Uber's food delivery business in India (Uber) in an all-stock transaction, which gives Uber 9.99% ownership in Zomato.

Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective 21 January 2020.

Upon closing of said acquisition, the company's shareholding in Zomato shall stand reduced to about 22. 71 % on fully converted & diluted basis.

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