Zensar Technologies hit with Rs 1.76 crore tax penalty
Tired of too many ads?
Remove Ads
Pune-based Zensar Technologies has been served a Rs 1.76 crore tax penalty , according to an exchange filing on Thursday.The penalty was imposed due to inconsistencies in service tax returns , the company said in the filing.Zensar Tech is part of the $4.8-billion RPG Group conglomerate, with a total services revenue of $591.3 million as on March 2024.The US is its largest market, accounting for 67.2% of the revenue share. The company said the penalty will have no material impact on its financials, operation or other activities. Zensar Technologies had acquired a 100% membership interest in US-based BridgeView Life Sciences , through its wholly owned subsidiary Zensar Technologies Inc, for a total consideration of $25 million.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
30 minutes ago
- Time of India
Omaxe posts net loss of ₹186 crore in Q1 FY26
NEW DELHI: Realty firm Omaxe Ltd has posted a consolidated net loss of Rs 185.77 crore in the first quarter of this financial year on lower income. Its net loss stood at Rs 146.98 crore in the year-ago period. Total income also declined to Rs 298.03 crore in the April-June period of 2025-26 fiscal against Rs 385.23 crore in the corresponding period of the preceding year, according to a regulatory filing last week. Omaxe, which is one of the leading real estate firms in the country, has a presence in 30 cities across eight states of North and Central India. It has delivered more than 135 million sq ft of area since its inception. Last month, Omaxe Ltd bought 450-acre land in Indore , Madhya Pradesh, to develop a township at an investment of Rs 1,200 crore. Recently, the company raised Rs 500 crore from Oaktree Capital Management for development of its existing projects and future growth.
Time of India
32 minutes ago
- Time of India
Singapore, KL routes keep Trichy in India's top 6 Southeast Asia hubs
Trichy: A surge in passenger traffic has helped Trichy International Airport retain its sixth position as the busiest international airport connecting India with Southeast Asian countries in the financial year 2024-25. In this category, Delhi, Mumbai, Chennai, Bengaluru, and Kolkata airports ranked higher than Trichy. According to air traffic data from the Directorate General of Civil Aviation (DGCA), Trichy airport handled 9.4 lakh passengers flying between Trichy and Southeast Asian countries in 2024-25, compared to nine lakh in 2023-24. Although the number of flight services (62 per week) between Trichy and Southeast Asia has remained unchanged, a higher occupancy rate accounted for the 4.5% surge in passenger traffic. In the last financial year, Trichy was connected to only three destinations in Southeast Asia, namely Kuala Lumpur (Malaysia), Singapore, and Bangkok (Thailand). Of the total 9.4 lakh passengers handled, Singapore and Kuala Lumpur routes contributed 58% and 40%, respectively, while Bangkok accounted for 2%. Despite offering services only to Kuala Lumpur and Singapore after the Bangkok service was suspended, Trichy outperformed major international airports like Hyderabad and Kochi in Southeast Asia-bound traffic. "Occupancy of the services has improved significantly. Still, there is demand for additional and premium flight services. Indian air carriers continue to ignore this sector, leaving it to foreign carriers to connect Trichy with Southeast Asia," H Ubaidullah, an independent aviation analyst, said. Meanwhile, beyond Malaysia and Singapore, demand is rising for connections to other Southeast Asian destinations such as Thailand and Vietnam. Experts have urged the restoration of services between Ho Chi Minh City and Trichy, which were once in operation, as Vietnam-based industries are increasingly investing in non-leather footwear and automobile manufacturing sectors across Tamil Nadu. "We must look beyond Kuala Lumpur and Singapore to strengthen Trichy airport as a hub to reach Southeast Asia. Indian airline operators will be approached to launch new flight services and capitalise on the growing demand from Trichy," Durai Vaiko, MP and chairman of the Trichy Airport Advisory Committee, told TOI. Busiest routes between India and Southeast Asia (FY 2024-25) 1. Delhi: 36 lakh 2. Mumbai: 22.8 lakh 3. Chennai: 19.1 lakh 4. Bengaluru: 16 lakh 5. Kolkata: 11.9 lakh 6. Trichy: 9.4 lakh 7. Hyderabad: 8.8 lakh 8. Kochi: 7.3 lakh Source: DGCA Trichy airport's Southeast Asia Link: Year Passengers handled Weekly Services Operators Destinations National rank 2023-24 9,08,486 62 6 3 6th 2024-25 9,49,863 62 6 3 6th Weekly services from Trichy in 2024-25: 1. Singapore: 35 2. Kuala Lumpur: 24 3. Bangkok: 3 Total - 62 Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
an hour ago
- Time of India
AMC spent 9.65cr on rehiring retd staff
Ahmedabad: Instead of filling vacant positions with new hirees, the Ahmedabad Municipal Corporation (AMC) has appointed 810 retired employees and officials on contract for the last 10 years, thus preventing qualified candidates from getting employment. Advocate Atik Saiyed, a resident of Jamalpur, who made an RTI application said this, adding that these individuals were paid a total of Rs. 9.65 crore in salaries over the period. Saiyed said AMC rehired personnel from peons to deputy municipal commissioners, on contract. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Gold Rates Today in Ahmedabad | Silver Rates Today in Ahmedabad He said, "The AMC is not interested in providing employment to the youth by hiring them on vacant Class 1 to Class 4 positions. Instead, retired officials and employees are being rehired on a contract basis." He provided a year-wise breakdown of the rehired individuals. In 2015-16, 19 officials were rehired, 44 in 2016-17, 66 in 2017-18, 146 in 2018-19, 83 in 2019-20: 152 in 2020-21, 115 in 2021-22, 30 in 2022-23, 58 in 2023-24, 84 in 2024-25 and 13 in 2025-26, he said. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
