MM TAX CLUB

On the special occasion of 'Ramotsav', up to 20% discount on 'Sanatan Vastra' from 17th to 22nd January

Special discount of 10% to 60% on Khadi products from 17th to 25th January on the occasion of Republic Day

Khadi and Village Industries Commission (KVIC) has launched a new range of ‘Sanatan Khadi Vastra’ with 20% discount on Wednesday. Shri Manoj Kumar, Chairman, KVIC launched 'Sanatan Vastra' made from Khadi clothes at the flagship Khadi Bhawan in Connaught Place, Delhi. The design of Sanatan Clothing has been prepared at the Khadi Center of Excellence (COEK) located at NIFT. Addressing the media at the inauguration programme, KVIC Chairman Shri Kumar said that the manufacturing of Khadi does not involve any kind of mechanical or chemical process, hence Sanatan textiles prepared as per Indian tradition are unique in themselves. He further informed that on this occasion, Khadi Bhawan, New Delhi is going to offer special discount of up to 20% on Sanatan Vastra and 10% to 60% on Khadi and village industry products from 17 to 25 January 2024.

Addressing the event on the occasion of launch of Sanatan Vastra, Shri Kumar said that with the changing times, the nation has seen a new and transformed form of Khadi under the leadership of the Prime Minister Shri Narendra Modi. He further said that the Prime Minister has defined Khadi as 'Khadi for Nation, Khadi for Fashion and Khadi for Transformation'. On the basis of this philosophy, keeping in mind the needs of modern times, Khadi's eternal clothes have been prepared, which is a gift to the present from the glorious history of the past. He reiterated that with the launch of Sanatan Vastra, KVIC wants to connect the youth with Swadeshi as the expansion of Khadi is part of improving the lives of millions of artisans in rural India.

Shri Kumar said that Khadi, which was made the most effective weapon of struggle against the British rule by Respected Bapu during the Swadeshi movement in the Indian freedom struggle, now the Prime Minister Shri Narendra Modi has taken the responsibility of restoring Khadi to its old glory. He said that in the last 9 years, the business of Khadi and village industry products has crossed the figure of Rs 1.34 lakh crore. The production of Khadi textiles has increased from Rs 880 crore to Rs 3000 crore and the sale of Khadi products has increased from Rs 1170 crore to Rs 6000 crore. Not only this, during the Khadi Mahotsav, sales of Rs 1.5 crore were made in a day in the showroom of Connaught Place in Delhi and Rs 25 crore were sold in a month in Khadi Bhandar. The biggest thing is that Khadi worth Rs 15 crore was sold in Delhi's IITF in 14 days, which is a record in itself.

PFRDA notifies Point of Presence (PoP) Regulations requiring only one registration for National Pension System

The Pension Fund Regulatory and Development Authority (PFRDA) notified the Point of Presence (PoP) Regulations 2023, simplifying the registration process with the objectives of ease of doing business and greater usage of digital mode.

With this notification, banks and non-banks can act as PoPs to on-board NPS subscribers. Now, they require only single Registration for NPS, instead of multiple registrations earlier, and can operate with just one branch with wider digital presence. The timeline for disposing off applications has been reduced from 60 days to 30 days.

The above simplification is in line with Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business.

Directorate of Enforcement (ED) has conducted follow up search operations on 16.01.2024 at 8 locations in Jaipur & Banswara districts of Rajasthan under the Provisions of Money Laundering Act, 2002 (PMLA) in the Jal Jeevan Mission Scam. The searches have been conducted on the residential premises of Mahesh Joshi, Ex-Minister, PHED, Government of Rajasthan, officials of PHED in addition to private individuals.

ED initiated investigation on the basis of FIR registered by the ACB, Rajasthan against Padamchand Jain (Proprietor: M/s. Shree Shyam Tubewell Company), Mahesh Mittal (Proprietor M/s Shree Ganpati Tubewell Company) and others including PHED officials. Another FIR was also registered by the Rajasthan Police, Bajaj Nagar Police station under various sections of IPC on the basis of a complaint alleging use of fake and fabricated work experience certificate by one of the suspected firms.

ED investigation revealed that the said contractors were involved in securing tenders pertaining to Jal Jeevan Mission works based on purported fake work completion certificates issued by M/s Indian Railway Construction International Limited (IRCON) and by bribing senior PHED officials. Several middle men and property dealers have aided the PHED officials in siphoning off the illegally earned money from the JJM scam. It has been gathered that certain properties were procured using money generated from criminal activity. 

During the search operations, a total of Rs. 39 lakh unaccounted cash along with various incriminating documents including property details, digital evidences, mobiles etc. have been seized. Total seizure in this case till date is Rs. 11.42 Crore, including gold/silver worth Rs. 6.50 Crore. Further investigation is under progress.

Directorate of Enforcement (ED) has provisionally attached properties worth Rs. 5 Crore approx. under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in the case of Mohammad Akbar Bhat and others in relation to terrorist activities. The attached properties in the form of 07 immovable properties and 02 bank accounts are in the name of various persons viz. Mohd Akbar Bhat, Ms. Fatima shah, Qazi Yasir, Mohammad Abdullah Shah and Mohd, Iqbal Mir and others situated in Jammu and Kashmir

ED initiated investigation on the basis of FIR registered and chargesheet issued by J&K Police for the offences under various sections of Unlawful Activity (Prevention) Act and IPC, 1860 against Mohammad Akbar Bhat, Ms. Fatima Shah, Altaf Ahmad Bhat, Qazi Yasir, Syed Khalid Geelani alias Khalid Andrabi & others wherein accused persons were hand in gloves with Pakistan Handlers who arranged admissions in MBBS & other course in the colleges of Pakistan for Jammu & Kashmir Students for a hefty money around Rs. 10-15 lakh per students

ED investigation revealed that the money was received in their personal accounts and in the bank accounts of Al-Jabar Trust which was a trust opened for the charitable purposes. However, these accounts were used for the purpose of receiving funds from the students and further ploughed into the terrorist activities in India in various ways such as distributing money to stone pelters, providing money to the persons/terrorists based in Jammu & Kashmir on the instructions of Pakistan handlers such as Manzoor Ahmad Shah, Altaf Ahmad Bhat etc.

Further investigation is under progress.