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- Friday, July 17, 2020 0
Ikea India (part of the Ingka Group) will be temporarily closing its outlet here from Saturday to implement additional safety measures in view of current COVID-19 pandemic, the Swedish furniture maker said on Friday.
"In light of the current COVID-19 situation, we are temporarily closing IKEA Hyderabad store to implement additional safety measures," Ikea tweeted.

The company also sent mails to customers about the temporary closure of the outlet without mentioning when it will reopen.

The company officials were not available for comment.

"In the light of the current COVID-19 situation and to strengthen the safety and well-being of our customers and co- workers, we want to take all our experiences and learnings during the last weeks to further build a safer and an even better shopping experience in our store," the mail read, In order to do this in a responsible way we will temporarily close IKEA Hyderabad store for our customers from Saturday 18th of July. We are aiming to re-open soon, to meet all our customers even stronger and in an inspiring manner," it added.

The mail further said its online store, however, will continue to remain open for shoppers.

The store recently said it started offering the Click & Collect service for free during the period that the store remains closed.
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- Friday, July 17, 2020 0
The All India Cabin Crew Association in a letter to Air India management said that AICCA records its strong protest at this circular and fears that this compulsory leave scheme is a smokescreen for a retrenchment/layoff scheme by the back door and is in gross violation of various Supreme Court orders, including the Constitutional bench judgment on Section 25, and infringes on the Air India SC case on hand.
"We note with great concern that the said circular purports to send employees on Compulsory Leave without Pay, by the CMD, as recommended by the RD & regional officials. This is highly arbitrary & subjective and is a violation of the Certified Standing Orders (Amended) of erstwhile Air India, as applicable to us," the cabin crew members said.

"Respectfully, we must also note that the circular & the board resolution itself are illegal as they violate the CSO, 9A of the ID Act and most importantly infringe on a matter that is being heard by the Hon Supreme Court of India, where we are a party. The larger bench of the Apex court is hearing the matter of Service Conditions, Standing Orders & 9A, and this circular violates that and brings in alien concepts of redundancies, merely to skirt existing retrenchment laws," the letter said.

"We find it shocking that our Airline seeks to arbitrarily retrench the very Corona Warriors who have been flying Vande Bharat Missions, at great risk to themselves and many have contracted COVID," the association said and has asked Air India CMD to keep the said circular in abeyance and engage in constructive dialogue with the AICCA on this subject.
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- Friday, July 17, 2020 0
The FIR was filed by Noida resident Aniljit Singh against the top officials of Volkswagen and Audi in India and their headquarters in Germany. These include Rahil Ansari, Brand Director, Audi India, Balbir Singh Dhillon, Head, Audi India, and Bram Schot, Chairman, Audi AG.
The FIR reviewed by IANS cites forgery, cheating and criminal conspiracy under various sections of the Indian Penal Code.

The complaint has cited the global emissions scandal where VW was found to be installing a cheat device in its cars, in the absence of which, the cars produced 10-40 times emissions beyond the permissible limits.

The complainant said that in 2018 he had purchased seven Audi cars worth crores of rupees. At the time of taking the delivery, the complainant said that he inquired if the cheat devices were installed in India and he was told by the company that they were not, as in India's emission norms were not as stringent and the country being a growing market for Audi, no such device was implanted.

The complaint said that the authorities in India observed that Audi cars' emissions for nitrogen oxide were 5-8 times the permissible limits and after the National Green Tribunal imposed a penalty of Rs 500 crore on VW, the complainant realised that he had been duped of his hard earned money.

He alleged that the accused persons had misrepresented the complainant by forging the documents and devices and caused wrongful gains to themselves and wrongful losses to the complainant. These officials had made wrong records to capture the market, with malafide intent and under a pre-planned conspiracy had induced and defrauded the complainant.

The accused persons are guilty of cheating the customers and have induced the complainant to part with hard earned money for sub-standard cars. The accused are also guilty of forging the documents on which they had sought various clearances.

The complainant has demanded that the allegations may be thoroughly investigated by a senior official.
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- Friday, July 17, 2020 0
The IT major had registered a net profit of Rs 2,220 crore in the April-June 2019 quarter (as per US GAAP), HCL Technologies said in a regulatory filing. Its revenue grew 8.6 percent to Rs 17,841 crore in the quarter under review, from Rs 16,425 crore in the corresponding quarter last year.
On a sequential basis, the top line was lower by 4 percent from Rs 18,590 crore in the March quarter. "The adverse conditions during this quarter had an anticipated negative impact on our revenue. I am happy to report that the resilience of our operating model helped us deliver stellar operating margins and cash flows," HCL Technologies President and CEO C Vijayakumar said.

He added that the company had healthy bookings, enabled by 11 new transformational deal wins. "We also renewed several large deals during the quarter... We are seeing a robust demand environment and a strong pipeline which gives us confidence in our growth trajectory going forward," he said.

The filing said the Board of Directors has appointed Roshni Nadar Malhotra, Non-Executive Director as Chairperson of Board and company with effect from Friday in place of her father, Shiv Nadar. "...Shiv Nadar, who expressed his desire to step down from the position of Chairman. Mr. Nadar would continue to be MD of Company with designation as Chief Strategy Officer," the filing said.

In constant currency terms, HCL Tech's revenue in June 2020 quarter grew 1 percent year-on-year, the filing said. HCL Technologies expects its revenue to increase quarter-on-quarter by an average of 1.5-2.5 percent in constant currency for the next three quarters, it added.

HCL Technologies has announced a dividend of Rs 2 per share. At the end of June 2020 quarter, HCL had 150,287 employees with gross addition of 7,005 people. Its attrition for IT services (on the last 12-month basis) was at 14.6 percent.
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- Friday, July 17, 2020 0
Also, the list of 'risky exporters' includes 7 larger entities who are accredited as star exporters. In addition, adverse reports have also been received on three star exporters. These 10 star exporters have claimed IGST refund amounting to Rs 28.9 crore deceitfully.
Sources said on the condition of anonymity that as on date, 7,516 exporters are in risky exporter list. Out of them, IGST refund/drawback worth Rs 1,363 crore is suspended in respect of 2,830 risky exporters. Adverse reports have also been received with respect to 2,197 risky exporters.

According to the sources, the field formations of CBIC have detected offence cases amounting to Rs 115 crore against identified risky exporters. Also, out of the 234 suppliers' verification received so far, 82 suppliers have been found non-existing at their principle place of business.

It may be noted that exporters are identified as "risky" on the basis of specific risk indicators based on Customs, GST, Income Tax and DGFT data. The identified risky exporters are shared with the CGST formations for physical and financial verification in terms of GST policy wing for CGST formation.

Sources said that in 695 cases positive reports have been received from CGST formations that have found their suppliers to have availed ineligible ITC. Out of these, in 461 cases of IGST refund /drawback amounting to Rs 273 crore is under suspension.

These risky suppliers have been shared with jurisdictional field formations for their physical/financial verification and to verify the ineligible ITC availed by them.
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- Friday, July 17, 2020 0
Telecom tribunal TDSAT on Friday stayed Trai''s interim direction asking Vodafone Idea to withhold its priority plan that promises 4G network on a priority basis to certain premium users.
The tribunal''s decision provides a temporary relief for Vodafone Idea Ltd (VIL).

Earlier this week, VIL moved the tribunal challenging Trai''s direction asking the company to withhold the plan till the matter is examined.

In its order on Friday, the tribunal said it would be open for Trai to proceed with the inquiry and pass final orders in accordance with law at the earliest after ensuring that requirements of natural justice are satisfied and VIL is given opportunity to explain any alleged contravention of extant directions of the authority.

"Hence, the interim direction in paragraph 2 of the impugned letter dated 11.07.2020 is stayed until further orders," the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) said.
In the impunged letter, Trai had asked VIL to withhold the plan.
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