Free & Fearless Press – Right of every Indian
Editor's Desk The HRD Ministry issued a new set of 15 guidelines for private Indian educational institutions planning to set up offshore campus. These guidelines have been notified and would be made applicable for all future proposals for setting up offshore campuses. As per a few provisions of the new guidelines, the institutions cannot take faculties from … Read more HRD Ministry tightens norms for setting up offshore campuses
Tightening the knuckles of defaulters of income tax evasion, the Income Tax (I-T) department is likely to include eight other related firms for its investigation into the possible tax evasion by Satyam. Meanwhile, the department is planning to consolidate its investigation of all the companies (Satyam and related companies) under one investigating officer for better … Read more IT Dept brings 8 more firms in Satyam tax evasion probe
Siemens has announced that its wholly owned IT subsidiary, SISL would be transferred to the parent, Siemens AG, at an undisclosed valuation. This decision comes close on the heels of the company reporting an unexpectedly weak result for SISL in FY2008 and the Satyam accounting malpractices revelation, which has brought down average valuations in the … Read more Siemens India to transfer IT business to German parent
Educomp Solutions has entered into a service agreement with a US based charitable foundation Michael & Susan Dell Foundation, to create a model to transform learning levels of poor children served by private schools in Hyderabad for an investment of Rs 4.78 crore. The project named Gyanashakti will help in significantly improving the learning levels … Read more Educomp Solutions ties up with Dell Foundation
In the last few months, there was a sharp decline in Bajaj Auto Limited volumes in the domestic market, though the company managed to maintain its No. 2 position in the Two Wheeler market until November 2008. However, in November 2008, Honda Motorcycles and Scooters India – HMSI sold 95,222 units, as against Bajaj Auto, … Read more Bajaj Auto loses No 2 position in Two Wheeler market
Our reporters have confirmed that, Citibank has frozen more than 30 trade receivable accounts of Satyam Computer Services Ltd, following erstwhile chairman B Ramalinga Raju’s startling admission of fraud as the bank aims to protect the bank’s $70-million exposure to the troubled IT major. This will directly hurt the daily operations of Satyam Computers. Citibank … Read more Citibank starts freezing Satyam’s Accounts