You are here: Home >> English News & Features >> BUSINESS & ECONOMY

SC blocks Ponzi schemes’ move to NCLT

DNMUM405290 | 1/12/2018 | Author : Manju AB | WC :481

Intervenes on behalf of Citrus, Royal Twinkle investors; says promoters prima facie colluded with petitioners
Mumbai: The case of two Ponzi schemes of Citrus Holidays and Royal Twinkle, which were dragged into the National Company Law Tribunal (NCLT), has taken an interesting twist after a group of investors moved the Supreme Court against liquidating the company.
The apex court has stayed the proceedings of the Mumbai bench of the NCLT that had admitted the petition for initiating Corporate Insolvency Resolution Process against Royal Twinkle Star Club Ltd and Citrus Check Inns Ltd, two timeshare and collective investment schemes where over 18 lakh investors had put in nearly Rs 7,500 crore of their savings.
The Supreme Court, while passing its order on January 8, observed that prima facie it seemed to be a case where there is a collusio
Read full story

Copyright restricted. Under license from   
Add To Lightbox
Calculate Price


The luxury network
DNMUM427868 | 12/12/2018 12:00:00 AM | Author : Priyanka Golikeri | WC :698

Affluent consumers continue to lose trust in social media, with one in five affluent consumers discouraging peers from using platforms like Facebook, proclaims the Luxury Institute’s 2018 Index.Luxury brands and their esteemed clientele primarily

Add To LightboxCalculate Price

Education expenses can get you tax benefits
DNMUM427874 | 12/12/2018 12:00:00 AM | Author : Balwant Jain | WC :616

In order to promote education, the government provides benefits to individual taxpayers in respect of certain expenses incurred by them for education. Let us discuss these tax benefits.

Tuition fee for childrenYou can claim

Add To LightboxCalculate Price

Should you rent or co-live?
DNMUM427875 | 12/12/2018 12:00:00 AM | Author : Kumar Shankar Roy | WC :857

You may share your cab and workspace with a stranger. But would you share your house with a stranger too? Co-living is a new trend that is gaining traction among millennials, including young students and professionals, who want a community-centred

Add To LightboxCalculate Price

Higher GST a barrier for local MRO industry
DNMUM427880 | 12/12/2018 12:00:00 AM | Author : Praveena Sharma | WC :638

New Delhi: Pushed to the brink due to a skewed tax policy, domestic aircraft maintenance, repair and overhaul (MRO) players are aggressively lobbying with the government to create a level playing field for them against their foreign counterparts.
Add To LightboxCalculate Price