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IndiaTV Business: Google News Feed: Digest for August 03, 2023

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As part of a money laundering probe, the enforcement directorate (ED) conducted raids on Tuesday against Hero Motocorp Executive Chairman Pawan Munjal and some others, said officials. The searches were done at premises situated in Delhi and Gurugram as per arrangements under the Prevention of Money Laundering Act (PMLA), according to the news agency PTI. 
Bonus Stock: Steel pipes maker JTL Industries has announced to distribute bonus shares to its investors. The company in an exchange filing said that the bonus will be issued in the ratio of 1:1. Bonus shares are additional shares that listed companies issue to existing shareholders at no cost. The exercise is done under the guidelines of the SEBI. It increases liquidity and encouraged retail participation.
The Reserve Bank of India (RBI) on August 1 said Rs 3.14 lakh crore worth of Rs 2,000 banknotes, or 88% available for use, have returned to the financial framework as on July 31. Thus, Rs 2,000 banknotes available for use as at the end of business on July 31 stayed at Rs 0.42 lakh crore, the release said. According to the release, 13% of the total notes returned from circulation have been converted into other denominations, while 87 percent of the notes have been used as deposits.
An official data revealed that the Goods and Services Tax (GST) revenue collected in the month of July 2023 was worth Rs 165,105 crore. It further claimed that the GST revenues generated in July were 11 per cent higher than it was registered in the same month in 2022.
HMA Agro Industries, one of leading exporters in India of packaged frozen meat, has posted a jump of over 70 per cent in its net profit in the first quarter of the current fiscal. According to a regulatory filing, the net profit in the quarter ended June 30, 2023 stood at Rs 35.08 crore. This translates into an increase of 74 per cent on sequential basis. The same was at Rs 20.12 crore in the previous quarter (March 2023).
Hiring for white-collar jobs declined 19 percent in July compared to the year-ago period as many sectors, including FMCG, retail, insurance and education, witnessed cautious recruitment sentiments, according to a report. According to the Naukri JobSpeak Index released on Tuesday, job postings for white-collar hiring in July stood at 2,573, down 8 percent compared to the previous month, and down 19 percent compared to July 2022.
The central government has raised over 37% of its FY24 target of gross market acquisition through dated securities in the initial four months, finance minister Nirmala Sitharaman informed Parliament on Tuesday. It has raised a net amount of Rs 4.18 lakh crore through the instrument in a similar period. Dated securities, Treasury bills, external loans, and state provident funds are all ways the government borrows money.
Capital market regulator SEBI on Tuesday clarified that the new format for seeking clients' trading preferences prescribed by it last month will not be applicable to members registered exclusively with commodity derivatives exchanges.
Equity benchmark Sensex pared early gains to end lower on Tuesday, pressured by selling in index majors Reliance Industries, Powergrid and ICICI Bank amid a mixed trend in global equity markets. Besides, continuous foreign fund outflows also dented investor sentiment, traders said.
The income tax department on Monday stated that a record 6.77 crore income tax returns for the Assessment Year 2023-24 were filed till July 31 this year, including 53.67 lakh first-time payers. It further stated that July's income tax returns are 16.1 per cent more than the total ITRs for Assessment Year 2022-23. 
The Reserve Bank of India (RBI) on August 1 said Rs 3.14 lakh crore worth of Rs 2,000 banknotes, or 88% available for use, have returned to the financial framework as on July 31. Thus, Rs 2,000 banknotes available for use as at the end of business on July 31 stayed at Rs 0.42 lakh crore, the release said. According to the release, 13% of the total notes returned from circulation have been converted into other denominations, while 87 percent of the notes have been used as deposits.
An official data revealed that the Goods and Services Tax (GST) revenue collected in the month of July 2023 was worth Rs 165,105 crore. It further claimed that the GST revenues generated in July were 11 per cent higher than it was registered in the same month in 2022.
HMA Agro Industries, one of leading exporters in India of packaged frozen meat, has posted a jump of over 70 per cent in its net profit in the first quarter of the current fiscal. According to a regulatory filing, the net profit in the quarter ended June 30, 2023 stood at Rs 35.08 crore. This translates into an increase of 74 per cent on sequential basis. The same was at Rs 20.12 crore in the previous quarter (March 2023).
Hiring for white-collar jobs declined 19 percent in July compared to the year-ago period as many sectors, including FMCG, retail, insurance and education, witnessed cautious recruitment sentiments, according to a report. According to the Naukri JobSpeak Index released on Tuesday, job postings for white-collar hiring in July stood at 2,573, down 8 percent compared to the previous month, and down 19 percent compared to July 2022.
The central government has raised over 37% of its FY24 target of gross market acquisition through dated securities in the initial four months, finance minister Nirmala Sitharaman informed Parliament on Tuesday. It has raised a net amount of Rs 4.18 lakh crore through the instrument in a similar period. Dated securities, Treasury bills, external loans, and state provident funds are all ways the government borrows money.
Capital market regulator SEBI on Tuesday clarified that the new format for seeking clients' trading preferences prescribed by it last month will not be applicable to members registered exclusively with commodity derivatives exchanges.
Equity benchmark Sensex pared early gains to end lower on Tuesday, pressured by selling in index majors Reliance Industries, Powergrid and ICICI Bank amid a mixed trend in global equity markets. Besides, continuous foreign fund outflows also dented investor sentiment, traders said.
The income tax department on Monday stated that a record 6.77 crore income tax returns for the Assessment Year 2023-24 were filed till July 31 this year, including 53.67 lakh first-time payers. It further stated that July's income tax returns are 16.1 per cent more than the total ITRs for Assessment Year 2022-23. 

Yudiz Solutions IPO to open on August 4; to list on NSE Emerge

Wednesday 02 August 2023 01:20 AM UTC+00
Global blockchain and AI solutions provider Yudiz Solutions has said that it is looking to raise Rs 44.84 crore through its initial share sale offer that opens for public subscription on August 4. The initial public offering (IPO) is scheduled to conclude on August 8.
Fitch Ratings has downgraded the US government over the past two years, citing "poor governance standards" and rising federal, state, and local debt. On Tuesday, the rating was downgraded from AAA to AA+, the highest expected rating. The new assessment is still risk-based. The assessment shows how the evolution of political polarization and the repeated Washington deadlocks in spending and expenses can be costly to the United States people. Over time, lower FICO scores can cost the U.S. government.
The Reserve Bank of India (RBI) on August 1 said Rs 3.14 lakh crore worth of Rs 2,000 banknotes, or 88% available for use, have returned to the financial framework as on July 31. Thus, Rs 2,000 banknotes available for use as at the end of business on July 31 stayed at Rs 0.42 lakh crore, the release said. According to the release, 13% of the total notes returned from circulation have been converted into other denominations, while 87 percent of the notes have been used as deposits.
An official data revealed that the Goods and Services Tax (GST) revenue collected in the month of July 2023 was worth Rs 165,105 crore. It further claimed that the GST revenues generated in July were 11 per cent higher than it was registered in the same month in 2022.
HMA Agro Industries, one of leading exporters in India of packaged frozen meat, has posted a jump of over 70 per cent in its net profit in the first quarter of the current fiscal. According to a regulatory filing, the net profit in the quarter ended June 30, 2023 stood at Rs 35.08 crore. This translates into an increase of 74 per cent on sequential basis. The same was at Rs 20.12 crore in the previous quarter (March 2023).
Hiring for white-collar jobs declined 19 percent in July compared to the year-ago period as many sectors, including FMCG, retail, insurance and education, witnessed cautious recruitment sentiments, according to a report. According to the Naukri JobSpeak Index released on Tuesday, job postings for white-collar hiring in July stood at 2,573, down 8 percent compared to the previous month, and down 19 percent compared to July 2022.
The central government has raised over 37% of its FY24 target of gross market acquisition through dated securities in the initial four months, finance minister Nirmala Sitharaman informed Parliament on Tuesday. It has raised a net amount of Rs 4.18 lakh crore through the instrument in a similar period. Dated securities, Treasury bills, external loans, and state provident funds are all ways the government borrows money.
Capital market regulator SEBI on Tuesday clarified that the new format for seeking clients' trading preferences prescribed by it last month will not be applicable to members registered exclusively with commodity derivatives exchanges.
Equity benchmark Sensex pared early gains to end lower on Tuesday, pressured by selling in index majors Reliance Industries, Powergrid and ICICI Bank amid a mixed trend in global equity markets. Besides, continuous foreign fund outflows also dented investor sentiment, traders said.
The income tax department on Monday stated that a record 6.77 crore income tax returns for the Assessment Year 2023-24 were filed till July 31 this year, including 53.67 lakh first-time payers. It further stated that July's income tax returns are 16.1 per cent more than the total ITRs for Assessment Year 2022-23. 

Yudiz Solutions IPO to open on August 4; to list on NSE Emerge

Wednesday 02 August 2023 01:20 AM UTC+00
Global blockchain and AI solutions provider Yudiz Solutions has said that it is looking to raise Rs 44.84 crore through its initial share sale offer that opens for public subscription on August 4. The initial public offering (IPO) is scheduled to conclude on August 8.
Fitch Ratings has downgraded the US government over the past two years, citing "poor governance standards" and rising federal, state, and local debt. On Tuesday, the rating was downgraded from AAA to AA+, the highest expected rating. The new assessment is still risk-based. The assessment shows how the evolution of political polarization and the repeated Washington deadlocks in spending and expenses can be costly to the United States people. Over time, lower FICO scores can cost the U.S. government.
An official data revealed that the Goods and Services Tax (GST) revenue collected in the month of July 2023 was worth Rs 165,105 crore. It further claimed that the GST revenues generated in July were 11 per cent higher than it was registered in the same month in 2022.
HMA Agro Industries, one of leading exporters in India of packaged frozen meat, has posted a jump of over 70 per cent in its net profit in the first quarter of the current fiscal. According to a regulatory filing, the net profit in the quarter ended June 30, 2023 stood at Rs 35.08 crore. This translates into an increase of 74 per cent on sequential basis. The same was at Rs 20.12 crore in the previous quarter (March 2023).
Hiring for white-collar jobs declined 19 percent in July compared to the year-ago period as many sectors, including FMCG, retail, insurance and education, witnessed cautious recruitment sentiments, according to a report. According to the Naukri JobSpeak Index released on Tuesday, job postings for white-collar hiring in July stood at 2,573, down 8 percent compared to the previous month, and down 19 percent compared to July 2022.
The central government has raised over 37% of its FY24 target of gross market acquisition through dated securities in the initial four months, finance minister Nirmala Sitharaman informed Parliament on Tuesday. It has raised a net amount of Rs 4.18 lakh crore through the instrument in a similar period. Dated securities, Treasury bills, external loans, and state provident funds are all ways the government borrows money.
Capital market regulator SEBI on Tuesday clarified that the new format for seeking clients' trading preferences prescribed by it last month will not be applicable to members registered exclusively with commodity derivatives exchanges.
Equity benchmark Sensex pared early gains to end lower on Tuesday, pressured by selling in index majors Reliance Industries, Powergrid and ICICI Bank amid a mixed trend in global equity markets. Besides, continuous foreign fund outflows also dented investor sentiment, traders said.
The income tax department on Monday stated that a record 6.77 crore income tax returns for the Assessment Year 2023-24 were filed till July 31 this year, including 53.67 lakh first-time payers. It further stated that July's income tax returns are 16.1 per cent more than the total ITRs for Assessment Year 2022-23. 

Yudiz Solutions IPO to open on August 4; to list on NSE Emerge

Wednesday 02 August 2023 01:20 AM UTC+00
Global blockchain and AI solutions provider Yudiz Solutions has said that it is looking to raise Rs 44.84 crore through its initial share sale offer that opens for public subscription on August 4. The initial public offering (IPO) is scheduled to conclude on August 8.
Fitch Ratings has downgraded the US government over the past two years, citing "poor governance standards" and rising federal, state, and local debt. On Tuesday, the rating was downgraded from AAA to AA+, the highest expected rating. The new assessment is still risk-based. The assessment shows how the evolution of political polarization and the repeated Washington deadlocks in spending and expenses can be costly to the United States people. Over time, lower FICO scores can cost the U.S. government.
Agricultural products maker Sarveshwar Foods has announced the sub-division of equity shares. The company in an exchange filing informed about the board's decision to split the face value of equity shares. The stock on Wednesday jumped more than 9 per cent to trade near 52-week high. It traded at Rs 112.45 on BSE. The 52-week high is Rs 113.80.
An official data revealed that the Goods and Services Tax (GST) revenue collected in the month of July 2023 was worth Rs 165,105 crore. It further claimed that the GST revenues generated in July were 11 per cent higher than it was registered in the same month in 2022.
HMA Agro Industries, one of leading exporters in India of packaged frozen meat, has posted a jump of over 70 per cent in its net profit in the first quarter of the current fiscal. According to a regulatory filing, the net profit in the quarter ended June 30, 2023 stood at Rs 35.08 crore. This translates into an increase of 74 per cent on sequential basis. The same was at Rs 20.12 crore in the previous quarter (March 2023).
Hiring for white-collar jobs declined 19 percent in July compared to the year-ago period as many sectors, including FMCG, retail, insurance and education, witnessed cautious recruitment sentiments, according to a report. According to the Naukri JobSpeak Index released on Tuesday, job postings for white-collar hiring in July stood at 2,573, down 8 percent compared to the previous month, and down 19 percent compared to July 2022.
The central government has raised over 37% of its FY24 target of gross market acquisition through dated securities in the initial four months, finance minister Nirmala Sitharaman informed Parliament on Tuesday. It has raised a net amount of Rs 4.18 lakh crore through the instrument in a similar period. Dated securities, Treasury bills, external loans, and state provident funds are all ways the government borrows money.
Capital market regulator SEBI on Tuesday clarified that the new format for seeking clients' trading preferences prescribed by it last month will not be applicable to members registered exclusively with commodity derivatives exchanges.
Equity benchmark Sensex pared early gains to end lower on Tuesday, pressured by selling in index majors Reliance Industries, Powergrid and ICICI Bank amid a mixed trend in global equity markets. Besides, continuous foreign fund outflows also dented investor sentiment, traders said.
The income tax department on Monday stated that a record 6.77 crore income tax returns for the Assessment Year 2023-24 were filed till July 31 this year, including 53.67 lakh first-time payers. It further stated that July's income tax returns are 16.1 per cent more than the total ITRs for Assessment Year 2022-23. 

Yudiz Solutions IPO to open on August 4; to list on NSE Emerge

Wednesday 02 August 2023 01:20 AM UTC+00
Global blockchain and AI solutions provider Yudiz Solutions has said that it is looking to raise Rs 44.84 crore through its initial share sale offer that opens for public subscription on August 4. The initial public offering (IPO) is scheduled to conclude on August 8.
Fitch Ratings has downgraded the US government over the past two years, citing "poor governance standards" and rising federal, state, and local debt. On Tuesday, the rating was downgraded from AAA to AA+, the highest expected rating. The new assessment is still risk-based. The assessment shows how the evolution of political polarization and the repeated Washington deadlocks in spending and expenses can be costly to the United States people. Over time, lower FICO scores can cost the U.S. government.
Equity benchmark indices Sensex and Nifty fell by 1 per cent on Wednesday on weak global market trends and continuous foreign fund outflows.
Equity benchmark Sensex pared early gains to end lower on Tuesday, pressured by selling in index majors Reliance Industries, Powergrid and ICICI Bank amid a mixed trend in global equity markets. Besides, continuous foreign fund outflows also dented investor sentiment, traders said.
The income tax department on Monday stated that a record 6.77 crore income tax returns for the Assessment Year 2023-24 were filed till July 31 this year, including 53.67 lakh first-time payers. It further stated that July's income tax returns are 16.1 per cent more than the total ITRs for Assessment Year 2022-23. 

Yudiz Solutions IPO to open on August 4; to list on NSE Emerge

Wednesday 02 August 2023 01:20 AM UTC+00
Global blockchain and AI solutions provider Yudiz Solutions has said that it is looking to raise Rs 44.84 crore through its initial share sale offer that opens for public subscription on August 4. The initial public offering (IPO) is scheduled to conclude on August 8.
Fitch Ratings has downgraded the US government over the past two years, citing "poor governance standards" and rising federal, state, and local debt. On Tuesday, the rating was downgraded from AAA to AA+, the highest expected rating. The new assessment is still risk-based. The assessment shows how the evolution of political polarization and the repeated Washington deadlocks in spending and expenses can be costly to the United States people. Over time, lower FICO scores can cost the U.S. government.
Equity benchmark indices Sensex and Nifty fell by 1 per cent on Wednesday on weak global market trends and continuous foreign fund outflows.

RBI likely to maintain status quo on interest rates: Experts

Wednesday 02 August 2023 01:32 PM UTC+00
With inflation inching up, experts feel that the Reserve Bank of India is likely to maintain the status quo on key interest rates. The six-member Monetary Policy Committee, headed by RBI Governor Shaktikanta Das, will hold the meeting from August 8 to 10. Prof N R Bhanumurthy, Vice Chancellor, Dr B.R. Ambedkar School of Economics University, Bengaluru told PTI, "Though the consumer inflation is inching up mostly fuelled by food inflation, the demand for credit remains healthy … I do not think the RBI will spoil the party. It will probably go in for a status quo on interest rates."
In an attempt to pending disputes relating to government contracts, the Union finance ministry launched the "Vivad se Vishwas" scheme on Wednesday. Under this scheme, the contractors will have time till October 31 to submit their claims.
Union Finance Minister Nirmala Sitharaman on Wednesday said that a 28 per cent tax on online gaming will come into effect from October 1, 2023. She said that the decision to levy the stipulated tax on the full face value of bets placed on online games will be implemented from October 1 despite calls from states like Goa and Delhi. 
Amid the ongoing monsoon session, the Parliament on Wednesday passed the Jan Vishwas (Amendment of Provisions) Bill, 2023 in order to promote ease of doing business. The bill seeks to promote ease of doing business by decriminalising minor offences through amendments in 183 provisions of 42 Acts. On Wednesday, the bill was passed by Rajya Sabha by a voice vote. It was cleared by the Lok Sabha on July 27. 
Foreign and Indian currencies and gold and diamond jewellery worth about Rs 25 crore apart from "incriminating" documents were seized after raids on Hero MotoCorp executive chairperson Pawan Kant Munjal and some others, the Enforcement Directorate said on Wednesday. The federal agency raided the residence and offices of the 69-year-old billionaire businessman, the promoter of India's largest two-wheeler automobiles manufacturer, in Delhi and neighbouring Gurugram apart from that of some other entities on Tuesday as part of a money laundering investigation against them. It did not elaborate on the exact amount of seizure made from each of those raids.
Equity benchmark Sensex pared early gains to end lower on Tuesday, pressured by selling in index majors Reliance Industries, Powergrid and ICICI Bank amid a mixed trend in global equity markets. Besides, continuous foreign fund outflows also dented investor sentiment, traders said.
The income tax department on Monday stated that a record 6.77 crore income tax returns for the Assessment Year 2023-24 were filed till July 31 this year, including 53.67 lakh first-time payers. It further stated that July's income tax returns are 16.1 per cent more than the total ITRs for Assessment Year 2022-23. 

Yudiz Solutions IPO to open on August 4; to list on NSE Emerge

Wednesday 02 August 2023 01:20 AM UTC+00
Global blockchain and AI solutions provider Yudiz Solutions has said that it is looking to raise Rs 44.84 crore through its initial share sale offer that opens for public subscription on August 4. The initial public offering (IPO) is scheduled to conclude on August 8.
Fitch Ratings has downgraded the US government over the past two years, citing "poor governance standards" and rising federal, state, and local debt. On Tuesday, the rating was downgraded from AAA to AA+, the highest expected rating. The new assessment is still risk-based. The assessment shows how the evolution of political polarization and the repeated Washington deadlocks in spending and expenses can be costly to the United States people. Over time, lower FICO scores can cost the U.S. government.
Equity benchmark indices Sensex and Nifty fell by 1 per cent on Wednesday on weak global market trends and continuous foreign fund outflows.

RBI likely to maintain status quo on interest rates: Experts

Wednesday 02 August 2023 01:32 PM UTC+00
With inflation inching up, experts feel that the Reserve Bank of India is likely to maintain the status quo on key interest rates. The six-member Monetary Policy Committee, headed by RBI Governor Shaktikanta Das, will hold the meeting from August 8 to 10. Prof N R Bhanumurthy, Vice Chancellor, Dr B.R. Ambedkar School of Economics University, Bengaluru told PTI, "Though the consumer inflation is inching up mostly fuelled by food inflation, the demand for credit remains healthy … I do not think the RBI will spoil the party. It will probably go in for a status quo on interest rates."
In an attempt to pending disputes relating to government contracts, the Union finance ministry launched the "Vivad se Vishwas" scheme on Wednesday. Under this scheme, the contractors will have time till October 31 to submit their claims.
Union Finance Minister Nirmala Sitharaman on Wednesday said that a 28 per cent tax on online gaming will come into effect from October 1, 2023. She said that the decision to levy the stipulated tax on the full face value of bets placed on online games will be implemented from October 1 despite calls from states like Goa and Delhi. 
Amid the ongoing monsoon session, the Parliament on Wednesday passed the Jan Vishwas (Amendment of Provisions) Bill, 2023 in order to promote ease of doing business. The bill seeks to promote ease of doing business by decriminalising minor offences through amendments in 183 provisions of 42 Acts. On Wednesday, the bill was passed by Rajya Sabha by a voice vote. It was cleared by the Lok Sabha on July 27. 
The Enforcement Directorate (ED) seized cash and jewellery worth Rs 25 crore along with several 'incriminating' documents after conducting raids at the business and residential premises of executive chairperson Pawan Kant Munjal and some others on Tuesday, officials said. The 69-year-old billionaire businessman's premises were raided in Delhi and neighbouring Gurugram apart from that of some other entities as part of a money laundering investigation against them. It did not elaborate on the exact amount of seizure made from each of those raids.
Equity benchmark Sensex pared early gains to end lower on Tuesday, pressured by selling in index majors Reliance Industries, Powergrid and ICICI Bank amid a mixed trend in global equity markets. Besides, continuous foreign fund outflows also dented investor sentiment, traders said.
The income tax department on Monday stated that a record 6.77 crore income tax returns for the Assessment Year 2023-24 were filed till July 31 this year, including 53.67 lakh first-time payers. It further stated that July's income tax returns are 16.1 per cent more than the total ITRs for Assessment Year 2022-23. 

Yudiz Solutions IPO to open on August 4; to list on NSE Emerge

Wednesday 02 August 2023 01:20 AM UTC+00
Global blockchain and AI solutions provider Yudiz Solutions has said that it is looking to raise Rs 44.84 crore through its initial share sale offer that opens for public subscription on August 4. The initial public offering (IPO) is scheduled to conclude on August 8.
Fitch Ratings has downgraded the US government over the past two years, citing "poor governance standards" and rising federal, state, and local debt. On Tuesday, the rating was downgraded from AAA to AA+, the highest expected rating. The new assessment is still risk-based. The assessment shows how the evolution of political polarization and the repeated Washington deadlocks in spending and expenses can be costly to the United States people. Over time, lower FICO scores can cost the U.S. government.
Equity benchmark indices Sensex and Nifty fell by 1 per cent on Wednesday on weak global market trends and continuous foreign fund outflows.

RBI likely to maintain status quo on interest rates: Experts

Wednesday 02 August 2023 01:32 PM UTC+00
With inflation inching up, experts feel that the Reserve Bank of India is likely to maintain the status quo on key interest rates. The six-member Monetary Policy Committee, headed by RBI Governor Shaktikanta Das, will hold the meeting from August 8 to 10. Prof N R Bhanumurthy, Vice Chancellor, Dr B.R. Ambedkar School of Economics University, Bengaluru told PTI, "Though the consumer inflation is inching up mostly fuelled by food inflation, the demand for credit remains healthy … I do not think the RBI will spoil the party. It will probably go in for a status quo on interest rates."
In an attempt to pending disputes relating to government contracts, the Union finance ministry launched the "Vivad se Vishwas" scheme on Wednesday. Under this scheme, the contractors will have time till October 31 to submit their claims.
Union Finance Minister Nirmala Sitharaman on Wednesday said that a 28 per cent tax on online gaming will come into effect from October 1, 2023. She said that the decision to levy the stipulated tax on the full face value of bets placed on online games will be implemented from October 1 despite calls from states like Goa and Delhi. 
Amid the ongoing monsoon session, the Parliament on Wednesday passed the Jan Vishwas (Amendment of Provisions) Bill, 2023 in order to promote ease of doing business. The bill seeks to promote ease of doing business by decriminalising minor offences through amendments in 183 provisions of 42 Acts. On Wednesday, the bill was passed by Rajya Sabha by a voice vote. It was cleared by the Lok Sabha on July 27. 
The Enforcement Directorate (ED) seized cash and jewellery worth Rs 25 crore along with several 'incriminating' documents after conducting raids at the business and residential premises of executive chairperson Pawan Kant Munjal and some others on Tuesday, officials said. The 69-year-old billionaire businessman's premises were raided in Delhi and neighbouring Gurugram apart from that of some other entities as part of a money laundering investigation against them. It did not elaborate on the exact amount of seizure made from each of those raids.
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