Page 2 - Assets

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Cows, gold rings, treadmill in Nitish's list of assets worth Rs 1.64 crore

Bihar Chief Minister Nitish Kumar owns assets worth Rs 1.64 crore, according to his latest public disclosure. According to details of the assets of the chief minister and his cabinet colleagues posted on the Cabinet Secretariat Department's website on Sunday evening, Kumar has Rs 22,552 in cash, and deposits of Rs 49,202 in different bank accounts. He also has a Ford Ecosport car worth Rs 11.32 lakh, two gold rings and a silver ring worth Rs 1.28 lakh, and other movable assets such as 13 cows and 10 calfs worth Rs 1.45 lakh, a treadmill, an exercise cycle and a microwave oven. The only immovable property that he has is an apartment in Dwarka in New Delhi, which cost him Rs 13.78 lakh in 2004, and is now worth Rs 1.48 crore. Last year, Kumar had declared total assets of Rs 75.53 lakh. A comparison of the two disclosures showed that the jump in the value of assets was primarily due to the rise in the worth of his Delhi apartment. Kumar's government has made it mandatory for all cabi

SP declares highest assets among regional parties, BRS second: ADR

Samajwadi Party declared the highest assets among regional parties in the year 2021-22, followed by the Bharat Rashtra Samithi, a report by a democratic reform think tank said. According to Association for Democratic Reforms, during the financial year 2020-21, SP declared assets totalling Rs 561.46 crore, which increased by 1.23 per cent to Rs 568.369 crore in 2021-22. The party was followed by BRS which declared total assets of Rs 319.55 crore in FY 2020-21 and Rs 512.24 crore in FY 2021-22. Between the two years, the total assets of DMK, BJD, and JD(U) increased by 95 per cent. The Dravida Munnetra Kazhagam declared assets worth Rs 115.708 crore in 2020-21, which increased by 244.88 per cent to over Rs 399 crore in 2021-22. The Biju Janata Dal had declared assets worth over Rs 194 crore in 2020-21, which increased by 143 per cent to Rs 474 crore in 2021-22, while JD(US) declared assets worth Rs 86 crore in 2020-21, which went up by over 95 per cent to Rs 168 crore in 2021-22. I

Multi-asset funds offer considerable relief in the choppy waters

Another expert termed Nippon India Multi Asset Fund as an example of a true multi-asset fund, saying this fund believes in classical asset allocation

Poll tracker: Assets of Chhattisgarh MLAs rose up to 3,340%, shows ADR data

This is according to an analysis of self-sworn affidavits of 66 re-contesting MLAs in the 90-member assembly by ADR

UBS Group decides to exit $5 bn in assets it manages for rich customers

UBS's newly created wind-down unit, known as Non-core and Legacy, widened its quarterly pretax loss to $1.93 billion in the quarter from $478 million in the previous period

An update on global capital

A significant shift in international investment dynamics is underway

Discoms propose asset monetisation to charge up working capital needs

The move comes at a time when states are facing record power demand

National parties declare assets worth Rs 8,829 cr in 2021-22: ADR

The total assets declared by eight national parties in 2021-22 was Rs 8,829.16 crore, up from Rs 7,297.62 crore during 2020-21, poll rights body ADR said in its report. The Association for Democratic Reforms, an electoral reform advocacy group, in its report analysed the assets and liabilities declared by the BJP, INC, NCP, BSP, CPI, CPI(M), AITC and NPEP the eight national parties for FY 2020-21 and 2021-22. In financial year 2020-21, the BJP declared assets worth Rs 4,990 crore, up by 21.17 per cent to Rs 6,046.81 crore in 2021-22. According to the ADR, in 2020-21, the declared assets of Congress was Rs 691.11 crore, which shot up by 16.58 per cent to Rs 805.68 crore in 2021-22. The BSP was the only national party to show a decrease in its annual declared assets, its report said. The total assets of BSP between 2020-21 and 2021-22 decreased by 5.74 per cent from Rs 732.79 crore to Rs 690.71 crore. The total assets of TMC increased from Rs 182.001 crore in 2020-21 to Rs 458.1

Tata Power to sell some overseas assets, may raise up to Rs 2.5K crore

May raise up to Rs 2,500 cr by selling some assets in Indonesia and Zambia

A first: NLMC prepares groundwork for DRT-like bid of assets by September

Asset transfers to the corporation are getting held up due to delay in clearance by states

JSW Steel eyes coking coal assets to beef up raw material security

Target is to have 25% linkages in the next few yrs: Acharya

Karnataka HC upholds seizure of Rs 5,551 cr from Xiaomi for FEMA violation

Xiaomi had challenged the Competent Authority's order in the HC

BlackRock's assets seen topping $15 tn in 5 years' time: Morgan Stanley

The gains are likely to continue, according to Morgan Stanley analyst, raising BlackRock's price target to $861 from $829, the second-highest among analysts tracked by Bloomberg

I-T dept seized assets worth over Rs 4,800 crore in last 4 fiscals: Govt

Assets worth more than Rs 4,800 crore were seized during searches conducted by the Income Tax department against 2,841 groups in the last four financial years, the government informed Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary said these searches are undertaken to find "suspected or identified large-scale tax evasion". He shared the figures in this regard as part of a written reply furnished in the Lok Sabha. The data pertains to financial years 2019-20, 2020-22, 2021-22 and 2022-23 (provisional figures till January 2023) and Chaudhary said a total of 2,841 groups were searched by the I-T department leading to seizure of assets worth Rs 4,863.12 crore. The highest seizure of assets took place during the last fiscal of 2022-23 (data till January 2023) at Rs 1,533.23 crore with searches being conducted against a total of 602 groups, the data stated. Properties worth Rs 1,159.59 crore were seized after searches against 686 groups in 2021-22, assets worth Rs .

Overseas assets of Indians rose in December quarter of 2022-23: RBI data

Trade credits and loans were primary contributors to the rise in India's foreign liabilities, the data stated

Govt moves to end possibility of attachment of DMRC's assets in RInfra case

On March 17, the Delhi High Court handed down an order to ensure the payment of an arbitral award due for over five years

Assets should ideally be churned within five yrs: Arcil's Pallav Mohapatra

In a Q&A, the MD & CEO of the firm dwells on its business model and the focus on retail assets to drive volume, going forward

Banks need to balance between protection of money, asset creation: Prez

President Droupadi Murmu on Tuesday said that banks need to strike a balance between protection of public money and use of savings for asset creation in future. The President said banks have two fundamental responsibilities- acting as custodians of public money and using savings of the present for future asset creation. "Balancing both these responsibilities is a challenge for every bank. Sometimes due to vitiation of the balance between these two, worrying economic conditions arise in different parts of the world," she said. The President was speaking at an event organised by UCO Bank here to celebrate the completion of 80 years of the public sector lender. Murmu said all banks are duty-bound to uphold the trust of millions of people who keep their savings in banks. She expressed confidence that the professional staff and vigilant leadership of UCO Bank will discharge these responsibilities effectively. The President said fintech has been transforming the way people access and m

Hyundai Motor considers buying General Motors India's Talegaon plant assets

A Term Sheet has been signed for the potential acquisition of identified assets of the plant like land and building, certain machinery and equipment situated at the General Motors India's plant