Source: Pantomath
Source: Pantomath
Author: Raoji
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SFIO to investigate L&T?
The Serious Fraud Investigation Office (SFIO) has received a complaint against Larsen & Toubro alleging “thousands of crores” of financial irregularities, including money laundering and tax evasion, a charge that the infrastructure giant rubbished as “baseless”.
Acting on the complaint received, SFIO’s Mumbai regional office has written to the head-office here stating that it “is a fit case to be investigated” as it will “help in unearthing wrong doings of L&T group, in terms of misappropriation of money, money laundering and tax evasion”.
In the complaint, Rajya Sabha MP Kahkashan Perween has alleged that loans worth Rs 8,000 crore given to the Group for road projects face serious threat of turning into NPAs. It alleged irregularities in two projects – L&T Halol Shamlaji Tollway Ltd (L&T Halol) and L&T Chennai Tada Ltd.
Source: ET
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Linkfest: April 06, 2018
Some stuff I am reading today morning:
RBI paints a ‘Goldilocks’ economy (ET)
Nobody will talk of rate hikes now (Tamal)
Nifty jumps most in 2 years (BS)
Trump calls for additional $100 Billion in tariffs (Zero Hedge)
Indigo opts out of race to acquire Air India (MC)
Rajiv Kochhar detained at Mumbai airport (Quint)
A new Finance Minister? (Reuters)
Why closed-end funds are not a sweet deal (Morningstar)
On Alternative Assets (TRB)
30 small profitable business ideas (MII)
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Narmada Agrobase: Your money, Our debt
Source: DRHP filings of Narmada Agrobase
Amusing to see that the amount being raised in the IPO (7.48 Crores) more or less matches exactly with the debt on the books. (7.47 Crores)
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Easy Peasy
