Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: cpt :: articles on VAT and GST in India :: VAT RATES :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: form 3cd :: due date for vat payment :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD
 
 
General »
 Companies should invest in upgradation of tax technology
 Top House tax writer suggests measures to mitigate the impact of the border tax
 Consumer goods distributors, wholesalers to bear the brunt of GST
 GST classification woes to continue
 There will be no tax on farm or agriculture income
 RBI, Income Tax Acts to be amended for electoral bonds, Jaitley says
  Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 I-T zeroes in on Mumbai trader in first crackdown after demonetisation
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 Income Tax Department Failed To Unearth Black Money Despite Information
 Govt filing twice as many cases as private cos in Supreme Court

Anand Jain's Jai Corp shares hit lower circuit on tax raid reports
March, 06th 2009

The shares of Jai Corp hit the lower circuit filter at the Bombay Stock Exchange (BSE) on Thursday to close with a loss of 4.94 percent, on news that the income tax authorities were conducting raids on the premises of its non-executive chairman Anand Jain.

The company's shares, which opened at Rs.79 at the BSE, eventually closed at Rs.74.15 - the lower circuit for the Jai Corp scrip on the BSE - data with the bourse showed.

"A team of 80 people is conducting the search operations at eight locations and it includes Mr. Jain's residence," said a senior official with the Income Tax Department here.

"We cannot say anything more at this moment. The operations are still on. All I can say for now is that the search operations have to do with some real estate deals," the official added.

Jain, a close confidant of Reliance Industries' chairman Mukesh Ambani, had shot into limelight in 2007, when Forbes magazine named him among 40 richest Indian billionaires. He has plans for several special economic zones in the country.

The website of Jai Corp says he is chairman of the Navi Mumbai SEZ Pvt Ltd, the Mumbai SEZ Ltd, Reliance Haryana SEZ Ltd and Urban Infrastructure Venture Capital Ltd.

The venture capital firm had raised $500 million from international investors for investing in the Indian real estate sector.

This apart, his Urban Infrastructure Opportunities Fund had raised Rs.32.86 billion from some 750 retail and institutional investors, the website said. This fund was scrutinised by the Income Tax Department last year.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions