Monday, August 24
Mumbai: The year is closing on a grim note for many non-profits - a breed whose activities, motives, source of money and end-use of funds have been under a closer scrutiny for a decade.Many have been slapped with show-cause notices in last few weeks due to their inactivity for three consecutive years since 2021. The ministry of home affairs (MHA) has invoked a rarely, if ever, used provision in the law to question why their registration under the Foreign Contribution (Regulation) Act 2010 should not be cancelled, two persons familiar with the matter told ET.Tightened over the years, with new curbs added in 2020, this is the law that regulates foreign donations to non-government organisations (NGOs), individuals, and charitable associations. Once stripped of the FCRA registration, they woul
ET Intelligence Group: The stock of Leela Palaces Hotels & Resorts has shown an uptick over the past 10 trading sessions up to December 24, gaining nearly 8%, after a subdued movement in the prior six months to December 10 during which it lost over 4%. The ET Hospitality Index has gained 2% in the past trading sessions while losing 6% in the six-month period. The rebound in Leela's stock follows expectations of better growth prospects in the coming quarters given the company's efforts to expand presence organically as well as through acquisitions to take advantage of growing travel and tourism activities. Analysts expect over 40% upside to the stock from its Wednesday's closing price of ₹420.3. In November, the hospitality company, which operates a chain of luxury hotels under the f
The Government of India has raised concerns with the United States over delays faced by Indians in securing US visa appointments, citing hardship to individuals and families affected by prolonged wait times. The government said it has received several representations from Indian citizens who are experiencing difficulties in scheduling or rescheduling US visa interviews. These delays, officials stated, have led to extended uncertainty and practical problems for applicants.While visa issuance falls under the sovereign authority of the issuing country, India has taken up the matter with US authorities both in New Delhi and Washington DC. The government said it has conveyed the concerns arising from the delays and the impact they are having on Indians.Officials highlighted that the delays have
Mumbai: India's red-hot IPO market in 2025 was driven less by companies raising growth capital and more by existing shareholders using lofty valuations to cash out. The 103 mainboard listings that raised ₹1,75,901 crore saw ₹1,11,495 crore, or 63.4% of total proceeds, routed to existing shareholders via the offer for sale (OFS) route. By contrast, only ₹64,406 crore, or 36.6%, translated into fresh capital for companies. In stark contrast, in the 267 SME listings that raised ₹11,429 crore among them, ₹10,388 crore, or 91%, amounted to fresh issue of stock. Only ₹1,041 or 9% crore went to existing shareholders through OFS. An OFS allows existing shareholders such as promoters or private equity investors to sell their shares to the public, with proceeds going to them rather than
