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Time of India
9 hours ago
- Business
- Time of India
Lucknow West gets Rs 4cr projects on Rajnath initiative
Lucknow: Various roads and development projects worth over Rs 4 crore were inaugurated by the PWD in the Lucknow West Assembly. The projects were initiated by defence minister and Lucknow MP Rajnath Singh . The inauguration was done by UP minister Suresh Khanna, along with special guests including BJP functionaries Neeraj Singh, Anand Dwivedi and Anjani Srivastava and MLC Mukesh Sharma. The inauguration took place at Raj Garden, Rajajipuram. Khanna said that due to the efforts of Rajnath Singh, countless development projects have been undertaken in Lucknow. To alleviate traffic congestion, several overbridges, including a ring road, have been introduced. Neeraj Singh said a community center is being constructed in each of the five assemblies in Lucknow from the MP's CSR fund. Last year, 23 roads were constructed with an expenditure of 21.7 million from the MP fund. 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 s ilver prices in your area.
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Business Standard
29-07-2025
- Business
- Business Standard
Mkt regulator Sebi opens door to fractional shares in innovation sandbox
The Securities and Exchange Board of India (Sebi) has approved a proposal from a startup to test fractional shares in its innovation sandbox, marking a potential shift in the Indian equity landscape. This represents a notable change in stance from 2021, when Sebi rejected a similar proposal in its regulatory sandbox, primarily due to concerns regarding the custody of fractional shares. Fractional shares allow investors to own or trade portions of a single share rather than being limited to whole units—a practice already popular in the United States. Earlier this month, Bengaluru-based Xaults joined Sebi's innovation sandbox to pilot fractional share trading. Co-founder Neeraj Singh stated that over the next three to four months, the company will demonstrate various use-cases to Sebi and other market participants. However, full-scale live testing will proceed only if Sebi shifts them to the regulatory sandbox. Singh emphasised that the crux of their successful application was a custody framework: fractional shares would be held at the depository rather than at the broker level. 'We will work together with the depository and enable it at the depository level. Ownership will still sit in the user's account or directly with the user. By enabling it at the depository, brokers will be able to offer fractionalised shares,' Singh explained. Xaults also plans to collaborate with clearing corporations to experiment with smart contract-based trade settlements. A specific depository will be assigned once Sebi moves them forward in the process. Sebi did not respond to emailed queries about fractional ownership as of press time. In January 2021, Zerodha and jointly sought approval for fractional share investments in Sebi's regulatory sandbox but were rejected. Their model relied on a holding entity buying full shares, then selling fractions through a registrar and transfer agent licensed by Sebi. A trustee would oversee fair treatment of fractional shareholders, but transfers could only occur to and from this holding entity—posing regulatory and structural challenges. Legal experts underline that Sebi's framework restricts brokers from holding shares as principals, complicating fractional share implementation. 'For fractional ownership to become feasible in India, the MCA must amend key provisions of the Companies Act, 2013—which currently allows only whole units. Amendments should permit issuance and transfer of fractional shares in dematerialised form, as recommended by the Company Law Committee in 2022,' said Manendra Singh, Partner at Economic Laws Practice. In 2023, the then Sebi Chairperson Madhabi Puri Buch expressed interest in enabling fractional ownership but highlighted the need for changes in both the Sebi Act and the Companies Act. 'Challenges also include ensuring compliance with KYC and AML regulations, managing corporate actions like bonus shares, and updating tax laws to clarify the treatment of fractional ownership—all of which require coordination between Sebi, the MCA and tax authorities,' Singh added.
Time of India
19-07-2025
- Time of India
3 VDA engineers arrested for taking Rs 25,000 bribe
Varanasi: In a coordinated action on Saturday, Varanasi unit of UP Anti-Corruption Bureau caught Varanasi Development Authority's assistant engineer, junior engineer and an associate engineer accepting Rs 25,000 bribe in the trans-Ganga area. Unit in charge Neeraj Singh said the team of sleuths, led by inspector Rajesh Kumar Yadav, arrested VDA officials AE Gaurav Singh, JE Ashok Kumar and associate engineer Anas while they were receiving Rs 25,000 as bribe in a car parked outside their Padav office on Saturday. The team handed the accused to Ramnagar police after lodging FIR against them, he added. ACB officials said action was initiated based on a written complaint by Ramnagar native, Ajay Kumar Gupta. In his complaint, Gupta alleged the VDA engineers were demanding bribe for building construction permits and cooperation. As per the plan, Gupta went to pay the bribe amount to the trio, who asked him to meet them outside their office in Padav. They arrived the spot and called Gupta inside a car. As soon as they received the chemical-coated currency notes as bribe from Gupta, the ACB team apprehended them on the spot. The money was recovered and seized as evidence. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Fully Loaded 4 BHK apts for 4.49 Cr(All Incl)* in Sec 104 ATS Triumph, Gurgaon Book Now Undo The incident made another dent on VDA's image and its bid to become a professional agency, especially by ensuring an overhaul of its offices on the lines of corporate and private companies' offices and bringing transparency in many procedures, including the approval of maps online. ACB urged citizens to report illegal demand made by any official or employee of any department. The unit in charge mentioned that the department maintained confidentiality in such cases and ensured necessary action was taken.
Time of India
05-07-2025
- Entertainment
- Time of India
Celebration of aroma & taste peaks at Mango fest
1 2 Lucknow: Avadh Shilpgram turned into a mango lover's paradise on Saturday with stalls brimming with golden, green, and blushing red varieties. The Uttar Pradesh Mango Festival was not just a market but an experience of fragrance, flavour, and culture, pulling in crowds eager to taste, buy, and celebrate the king of fruits. Visitors sampled mango squash, tangy pickles, velvety 'aam ras', and even mango saplings, leaving with armfuls of prized varieties like Langda, Dussehri, Chausa, and Safeda. "I bought a dozen Dussehris and a small mango plant for my garden. I like buying local varieties directly from these stalls. It's a good way to support farmers and enjoy the real taste of the season," said Nikhil Shukla, a resident of Aliganj. "One of the stalls had fresh, homemade pickle that smelled good. I picked a jar," said Neeraj Singh, a resident of Gomtinagar. "Langra mangoes are the best in summer, I tasted 'aam ras' and decided to buy an entire crate," said Ashutosh Kumar from Indiranagar "This year's Chausa is really sweet, I am buying extra so I can freeze some pulp for later," said Meera Kapoor, a resident of Hazratganj. The Mango Festival featured an impressive collection of exotic, rare, and unique mango varieties that drew special attention from visitors. Ambika from Malihabad stood out for its rich sweetness, while aromatic Elaichi variety from CISH, Rehmankhera, was also collected as valuable genetic material. International varieties like Haden and Eldon, both American imports now grown locally, added to the diverse selection. "These rare and exotic varieties help preserve genetic diversity and introduce people to the incredible range of mangoes Uttar Pradesh can offer," said Pankaj Saxena, an official in horticulture department.
Time of India
01-07-2025
- Business
- Time of India
Talented people need not migrate from UP, says Keshav Maurya
1 2 Lucknow: Talented indisviduals need not migrate from the state or the country as we have ample opportunitiues, said chief guest deputy Chief Minister Keshav Prasad Maurya while addressing the winners and the audience at the Times Leadership Awards in the city. "I want to congratulate all the winners. Be it sports, academics, healthcare, research or entrepreneurship, their contributions need to be acknowledged by each one of us. As residents of 'Uttam Pradesh', I can proudly say that talented individuals from the state do not need to migrate to other states or out of the country to look for suitable opportunities. We all have seen the changed perception of the state in the country. Though till eight years back nobody was interested in investing in the state, the double engine BJP government has managed to secure investments amounting to Rs 50 lakh crore for Uttar Pradesh ," he said Special guest, BJP leader and and a prominent social worker, Neeraj Singh said, "I am proud to be a part of the event which celebrates the contribution of people who have made positive impact on the society. Over the past 11 years, Lucknow has transformed completely and represents the positive changes a strong leadership can bring in." Guest of honour and actor Kunal Kapoor said, "I am overwhelmed to be a part of the leadership awards being organised in Lucknow. I feel proud as I am in the company of people who are taking the country forward." Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
