Connect with us

Business

Chidambaram accuses ED of making ‘wild allegations’ against Karti

Published

on

P Chidambaram

New Delhi, Apr 18 : Senior Congress leader P Chidambaram today accused the Enforcement Directorate of making wild allegations against his son Karti in an alleged forex violation case.

In a statement, the former Finance and Home Minister said the ED’s press release issued yesterday did not refer to any specific act on the part of Karti.

Instead, he said it made the “extraordinary and ridiculous” allegation that Karti “appears to be the controller and ultimate beneficiary” of certain transactions of two companies.

“What does ‘appears to be’ mean? It means that the ED is making a wild allegation just to drag him into the case,” the senior Congress leader alleged.

A show cause notice has been issued by the ED to Karti Chidambaram and a firm purportedly linked to him for alleged FEMA violations of Rs 45 crore.

A similar notice has also been issued in the case to Chennai-based M/s Vasan Health Care Private Limited for alleged forex violation of Rs 2,262 crore.

The ED in a statement issued yesterday said, “The total amount of contravention identified on different counts and found to have been committed by M/s Advantage Strategic Consulting Private Limited in the sale transaction of shares of Vasan Health Care to overseas investors is around Rs 45 crore.”

“A show cause notice has been issued to M/s Advantage Strategic Consulting Private Limited, its directors and also to Karti P Chidambaram who appears to be the controller and ultimate beneficiary in these transactions,” it said.

Chidambaram said the two companies have, in the past, explained their transactions and repeatedly clarified through their statements that Karti was “never a shareholder or a director” of either of the companies.

“As I said yesterday, if a notice is served upon Karti, a suitable reply will be sent,” he said.

This was Chidambaram’s second statement in as many days.

Yesterday, Chidambaram had said by targeting Karti with “baseless notices” the government cannot silence his voice or stop his writing.

IANS

Business

Markets open in green on global cues

Published

on

SENSEX NIFTY MARKET

Mumbai, April 27: The key Indian equity indices opened on a positive note on Friday tracking strong cues in the benchmark Asian markets.

At 9.19 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,661.80 points, up 44.00 points or 0.41 per cent from the previous close of 10,617.80 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 34,747.04 points, traded at 34,864.58 points (9.19 a.m.) — up 150.98 points or 0.43 per cent — from its previous session’s close of 34,713.60 points.

The Sensex has so far touched a high of 34,893.20 and a low of 34,744.73 points.

The BSE market breadth so far was bullish with 306 advances and 168 declines.

IANS

Continue Reading

Business

Equity indices close in red on weak global cues

Published

on

sensex

Mumbai, April 25: The key Indian equity indices on Wednesday provisionally closed in the negative territory following weak global cues, along with heavy selling pressure in the banking, consumer durables and capital goods stocks.

According to market observers, investors were cautious ahead of April derivatives expiry on Thursday.

On Wednesday, the wider Nifty50 on the National Stock Exchange provisionally closed (at 3.30 p.m) at 10,570.55 points, down 43.80 points or 0.41 per cent from the previous close.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 34,593.17 points, closed at 34,501.27 points, down 115.37 points or 0.33 per cent.

The Sensex touched a high of 34,631.27 points and a low of 34,400.56 points during the day.

The BSE market breadth was bearish with 1,447 declines and 989 advances.

The major gainers on the BSE were Bharti Airtel, Tata Consultancy Services (TCS), Mahindra and Mahindra (M&M), Power Grid and Hindustan Unilever, while Tata Steel, ICICI Bank, ONGC, Tata Motors (DVR) and Axis Bank were among the major losers.

On the NSE, the top gainers were Bharti Airtel, TCS and M&M. The major losers were GAIL, Cipla and Hindalco.

On Tuesday, the indices closed with humble gains riding on broadly positive global markets, coupled with expectations of healthy quarterly corporate earnings.

The Nifty50 edged higher by 29.65 points or 0.28 per cent to close at 10,614.35 points, while the Sensex closed at 34,616.64 points, up 165.87 points or 0.48 per cent.

IANS

Continue Reading

Business

61% Indian IT managers clueless how bandwidth is being consumed, claims Sophos

Published

on

New Delhi, April 25: Around  57 percent Indian IT managers can’t identify network traffic while 61 percent don’t know how their bandwidth is consumed, a new report revealed on Wednesday.

The report claimed also the majority of Indian IT managers have legal liabilities when it comes to unidentified traffic at their workplaces.

As per British IT security firm, Sophos’ global survey titled “The Dirty Secrets of Network Firewalls,” 89 percent of Indian software heads opined that halting malware threats have become harder over the last year.

“While 94 percent agree that stopping ransomware should be a top priority in organisations, a lack of effective application visibility is a serious security concern for 90 percent of Indian businesses,” news agency IANS reported citing the report.

The survey was conducted on more than 2,700 IT decision makers across medium-sized businesses in 10 countries worldwide, including India, the US, Canada, Mexico, France, Germany, the UK, Australia, Japan and South Africa.

“Controlling network traffic is an essential role of every firewall yet, 61 per cent IT managers can’t tell you how their bandwidth is being consumed,” said Sunil Sharma, Managing Director Sales at Sophos India & Saarc.

“If you can’t see everything on your network, you can’t ever be confident that your organisation is protected from threats. IT professionals have been ‘flying blind’ for too long and cybercriminals take advantage of this,” Sharma pointed.

About 79 percent of IT heads witness security risks from unwanted or unnecessary applications.

“While 72 percent want to see applications by risk levels through their organisation’s firewall, 60 percent concerned on productivity loss due to unwanted apps and 52 percent had legal liability or compliance concerns due to potentially illegal content,” it added.

The survey further said that 61 percent would like to see better perimeter security in their organisation’s network firewall along with better threat visibility and better protection.

“Ineffective firewalls are costing you time and money. On an average, organisations are spending 7 working days to remediate infected machines,” assreted Sharma.

With just a single network breach multiple computers can be harmed, so keeping this in the mind faster you can stop the infection from spreading the more you limit the damage and time needed to clean it up.

“Companies are looking for the kind of next-generation, integrated network and endpoint protection that can stop advanced threats and prevent an isolated incident from turning into a widespread outbreak,” Sharma informed.

WeForNews 

Continue Reading
Advertisement

Most Popular