Latest news with #RegistrarofCompanies
The Sun
09-07-2025
- Business
- The Sun
SSM warns against false statements to registrar of companies
KUALA LUMPUR: The Companies Commission of Malaysia (SSM) has issued a stern reminder to the public against submitting false or misleading statements to the Registrar of Companies. Legal action will be taken against offenders, reinforcing the importance of compliance and ethical business practices. SSM emphasised its commitment to enforcing corporate laws, ensuring businesses uphold integrity. The warning follows a recent case at the Kajang Criminal Sessions Court involving a company director accused of allowing false statements regarding director appointments. Sandra Sheager Chidambaram, the director in question, was charged under Section 593(a) of the Companies Act 2016. If convicted, she faces up to 10 years in prison, a fine of RM3 million, or both. She pleaded not guilty and was granted bail of RM12,000. The next court mention is scheduled for August 22. - Bernama
India Today
03-07-2025
- Business
- India Today
Meesho files confidential papers for IPO to raise Rs 4,250 crore: Report
Indian e-commerce company Meesho has taken its first big step towards going public by filing confidential documents for an initial public offering (IPO), reported Reuters. The company plans to raise about Rs 4,250 crore (around $497.30 million) in fresh funds through this share of the company's current investors will also sell part of their stake, but no further details are known yet. According to a document filed with the Registrar of Companies, Meesho has already got the green light from its shareholders for this IPO everything goes well, Meesho wants to list its shares by September or October this year. This timeline was first reported by Moneycontrol. Meesho is a popular name in India's growing e-commerce market and competes with big players like Amazon and Flipkart. It is backed by well-known global investors, including Prosus, Elevation Capital, WestBridge Capital, SoftBank, and Peak XV confidential filing allows Meesho to get feedback from market regulators without making its financial details and business strategies public too soon. Many companies use this method to protect sensitive information before they hit the stock market. Recently, Groww and Shadowfax also filed confidential papers for their own business has been growing fast. In the financial year 2024, its revenue rose by 33% to Rs 7,615 crore. The good news for investors is that the company's losses have dropped sharply too, from Rs 1,675 crore the year before to just Rs 305 crore now, showing that it is controlling costs a slow start to the year because of global tensions, India's IPO market is back in action. By the end of June, Indian IPOs had raised about $5.86 billion, which makes up around 12% of total IPO funds collected around the world so far this year, according to LSEG more excitement ahead as well. Reports say up to 143 IPOs worth a possible $26 billion are in the pipeline, according to data from PRIME this move, Meesho could become one of the most-watched companies to go public this year, giving investors another major home-grown tech brand to bet on.- EndsMust Watch
Hindustan Times
21-06-2025
- Business
- Hindustan Times
India's most expensive literary award — the JCB Prize for Literature — is officially discontinued; everything to know
In a move that has left the Indian literary world stunned, the JCB Prize for Literature — once the country's most lucrative book award — has officially been discontinued. The ₹ 25-lakh award, which honoured the best work of fiction by an Indian author each year, has been shut down, with no future editions planned. JCB Prize for Literature The confirmation came on June 21 from Mita Kapur, Literary Director of the JCB Prize, who said, 'The prize has been shut down. I am not going to deny something that is evident. But for everything else, 'no comment'.' The last winner of the award was Upamanyu Chatterjee in 2024, for his novel Lorenzo Searches for the Meaning of Life. While the reasons for the shutdown remain unclear, the decision closely follows the cancellation of the JCB Literature Foundation's licence. A notice dated March 12 on the award's official website stated that the foundation had applied to the Registrar of Companies, Delhi & Haryana, seeking to revoke its Section 8(5) license under the Companies Act, 2013. It added that the organisation would now be reclassified as a 'Private Limited' company, no longer functioning as a foundation. The award was given by the 'foundation', which was established to promote the 'art of literature in India'. About the JCB Prize for Literature Founded in 2018, the JCB Prize was widely celebrated not just for its generous cash prize, but for its commitment to promoting Indian fiction across languages. Five out of the seven winning books were translations — a reflection of the prize's dedication to linguistic diversity. Landmark winners included Jasmine Days by Benyamin (translated from Malayalam), Delhi: A Soliloquy by M Mukundan (Malayalam), The Paradise of Food by Khalid Jawed (Urdu), and Fire Bird by Perumal Murugan (Tamil). Each shortlisted author received ₹ 1 lakh, and in the case of a translated work, the translator was awarded ₹ 50,000. When a translated novel won, the translator took home an impressive ₹ 10 lakh alongside the author's ₹ 25 lakh. As tributes pour in from authors, publishers, and translators across the country, the loss of the JCB Prize marks the end of a short yet impactful chapter in Indian literary history.
Time of India
20-06-2025
- Business
- Time of India
HDFC Bank shares in focus as Rs 12,500-crore HDB Financial IPO opens next week
Shares of HDFC Bank are set to be in focus on Friday, after its non-banking finance subsidiary, HDB Financial Services , announced the launch of its highly anticipated initial public offering . The Rs 12,500-crore public issue , India's largest by a non-bank lender, will open for subscription on Wednesday, June 25. HDB Financial Services filed its Red Herring Prospectus (RHP) with the Registrar of Companies on Thursday, HDFC Bank said in an exchange filing. The IPO will be open for three days and will close on June 27, with anchor investors set to bid on June 24. The offer will comprise a fresh issue of shares worth Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by the promoter, HDFC Bank. At a price band of Rs 700–740 per share, the issue is expected to be the largest in the Indian market since Hyundai Motor India's Rs 27,870-crore listing in October 2024. Earnings snapshot HDB Financial posted a consolidated profit after tax of Rs 2,175.9 crore for the financial year ended March 2025, compared to Rs 2,460.8 crore in the previous year. However, its consolidated revenue from operations rose to Rs 16,300.3 crore, up from Rs 14,171.1 crore in FY24. Market reaction and technical view Shares of HDFC Bank have gained 16.7% over the past 12 months and are up 11% in the last three months. However, the stock has slipped 0.4% over the past week ahead of the IPO. From a technical standpoint, the stock is trading above five of its eight key simple moving averages (SMA)—including the 5-day, 50-day, 100-day, 150-day, and 200-day SMAs. It remains below its 10-day, 20-day, and 30-day SMAs. The Relative Strength Index (RSI) stands at 51.1, suggesting the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 6.2—still above its Center Line but currently below the signal line, indicating a neutral-to-cautious outlook in the near term. Also read | HDB Financial Services' Rs 12,500-crore IPO to open on June 25 ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
17-06-2025
- Business
- Time of India
OnePlus India audit flags glitches, PF payment lags
The auditor of Chinese smartphone maker OnePlus Technology India has flagged irregularities such as hosting accounting software on servers outside India, using software with programme codes in a foreign language, which made it difficult for the auditor to test the codes, and delays on the part of the company in making contributions to the employees' provident fund. The smartphone maker said it is in the process of addressing the issues. In its latest filing with the Registrar of Companies on May 27, OnePlus Technology India appended the auditor's report, which also raised concerns over actions against the company from the Enforcement Directorate (ED) and the Income Tax Department. While Shah & Jain Chartered Accountants is the company's statutory auditor, Grant Thornton Bharat LLP is its internal auditor. The filing did not specify whether one or both of the auditors flagged the issues. "Accounting software used by the company for preparation and maintenance of its books of account, has been hosted on physical servers located outside of India. Further, the program codes were maintained in a foreign language which posed significant limitations in the ability to test such codes and further due to absence of Service Organisation Control Type 2 (SOC 2)/SAE 3402, 'Assurance Reports on Controls at a Service Organization' the auditors were unable to comment on the audit trail feature of the accounting software," the filing said. It said the company, the Indian subsidiary of OnePlus Technology (Shenzhen) Co Ltd, had been maintaining its accounting data on computer servers with Guangdong OPPO Mobile Telecommunications Corp in China's Dongguan city. The auditor also said that the company had delayed its contributions to the employees' provident fund for 2023-24 and that there were "certain pending assessment dues with respect to CIT (corporate income tax) Appeals for the assessment year (20)21-22". OnePlus Technology India said in the regulatory filing that it was in the process of updating its IT systems. "The management will also test the new system to confirm that the audit trail has been enabled and make available such a report to the auditor along with the necessary access to independently test the same during the financial year 2024-25," it said. It further said it "has taken the steps for making the outstanding payment of contribution in the employee provident fund for the year 23-24" and deposited an amount against the disputed corporate income tax dues. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories ET's queries to OnePlus Technology India remained unanswered till press time. Auditors have been repeatedly flagging concerns over the operations and accounting of Chinese smartphone makers in India. Auditors of Oppo India and Realme India had flagged multiple concerns regarding their bookkeeping, processes and incomplete records, as per their filings with the Registrar of Companies last month.
