The Securities and Exchange Board of India (SEBI) has taken action against Gensol Engineering and its promoters, the Jaggi brothers, after receiving a complaint in June 2024 alleging fraudulent activities. The regulator has barred the promoters from holding any directorial or managerial positions in the company and has ordered an audit of its accounts. This decision will also have a negative impact on the Jaggi's other venture, the electric ride-hailing service BluSmart, as they are co-founders of the company. The funding crisis for BluSmart is likely to worsen as finding new investors becomes increasingly difficult with cases against the Jaggi brothers.
As most of the states in India observe Good Friday as a gazetted holiday, banks, government organizations, public institutions, and schools remain closed. However, according to the holiday calendar shared by the Reserve Bank of India, banks in some states like Tripura, Assam, Rajasthan, and others will remain open. This is good news for those who need to conduct banking transactions as digital channels such as mobile banking apps, internet banking, and UPI are available 24X7. Additionally, ATMs will also function normally, making it convenient for customers. The article also shares the upcoming holidays in April 2025, which do not include the regular weekly offs.
The Indian government plans to launch a new GPS-based toll collection system, the GNSS, which will replace the current FASTag system. The new system will use satellite tracking to calculate toll fees based on the distance travelled by a vehicle, eliminating the need for toll booths and manual transactions. The rollout was initially scheduled for April 1, but has faced delays, with the government now aiming to implement it within the next 15 days. The new system is expected to improve efficiency, reduce waiting times, and prevent technical glitches and fraud.
In a speech at the Economic Club of Chicago, Federal Reserve Chair Jerome Powell highlighted the challenges facing the US economy as trade policy concerns and uncertainty pose threats to growth and inflation. He emphasized the importance of the Federal Reserve's ongoing efforts to achieve a delicate balance in its policy decisions.
Gensol Engineering Ltd, a renewable energy company, has faced a steep decline in its shares after being hit with a ban by the Securities and Exchange Board of India (Sebi). The regulator has accused Gensol and its promoters of diverting funds raised for electric vehicle procurement into personal expenses and transactions with related entities. This has led to a loss of trust among investors and raises concerns about potential fraudulent activities within the company.
After discovering Tuoi Tre News through social media, Ray Kuschert quickly became a regular reader and eventually a contributor for almost a decade. In celebration of Tuoi Tre News' newly revamped website, Kuschert shares his emotional journey with the newspaper and how it has led to friendships, cultural connections, and opportunities to share his experiences of living in Vietnam with the world.
WestJet, one of Canada's leading low-cost airlines, has announced a new program called "Vacation Flex" that allows its guests to showcase their vacation photos on digital billboards and bus stops across the country. This initiative aims to give everyday Canadians and upcoming social media influencers an opportunity to gain more exposure and potentially go viral. With this creative program, WestJet once again proves their commitment to providing unique and affordable travel experiences for their guests.
Øystein Kalleklev, the CEO and driving force behind the success of Flex LNG, has resigned after 7.5 years with the company. The company's board has appointed Marius Foss as interim CEO, who has been instrumental in the company's commercial strategy since joining in 2018. While Kalleklev's departure is regretted, the board and Kalleklev himself have expressed gratitude for his leadership and are confident in Foss' ability to continue driving shareholder value.
Indian-born diamond trader and alleged mastermind behind the Rs 13,000 crore PNB loan fraud, Mehul Choksi, was finally arrested in Belgium after being on the run. Indian investigative agencies were in touch with Belgian authorities for two months to secure his arrest. Choksi, along with his nephew Nirav Modi, their family members, and PNB employees were booked for orchestrating the scam through fraudulent Letters of Undertaking totaling approximately Rs 13,000 crore.
Namita Thapar, Executive Director at Emcure Pharmaceuticals and judge on Shark Tank India, has been keeping her fans entertained with her insightful social media posts. Her recent Monday Motivation entry featured a humorous tip for dealing with toxic people in our lives, accompanied by a meme from the beloved Indian film, Munnabhai MBBS. In a previous post, she delved into the theme of work-life balance and family responsibilities, sparking a debate on social media and raising important points for parents.