Let us start with an illustration to understand what defines ULIP surrender – Mr. Desai felt the need to protect his family under a life cover under a ULIP. He bought one of the best ULIP plans in India for a ten-year term and chose an annual premium of Rs. 1,50,000. When he received his ULIP policy's annual statement in the fourth year, he witnessed the value of his investment over the three years being reduced to Rs. 4,20,000.  Worried about the impact of further loss of capital, he surr...Read More

Gandhinagar: Sadbhav Engineering has announced that it has bagged a Rs 779.73 crore contract for a Metro Railway Project from Gujarat Metro Rail Corporation (GMRC). The project includes the construction of 11.6 km elevated viaduct from Kadarsha Ni Nal to Dream City dead-end including a ramp for depot entry near Dream City and 10 stations for Surat Metro Rail project. Sadbhav Engineering in a regulatory filing said, "We are pleased to inform you that the Company has received Letter of Accepta...Read More

Surat: First regular business exhibition has been organized in Gujarat after a prolong period of Covid-19 pandemic and lockdown since March 2020. Surat International Textile Expo (SITEX) was inaugurated by union textile minister Smriti Irani and minister of State in Centre Debashri Chaudhary. The exhibition has 110 stalls. It has been held at Sarsana absed Surat International Exhibition and Convention Centre. by The Southern Gujarat Chamber of Commerce and Industry and Southern Gujarat  trade a...Read More

Gandhinagar: Central approved The Industrial Disputes (Gujarat Amendment) Bill, 2020 with the President of India's assent on 01.01.2021. The Gujarat Assembly had passed this bill, aimed at ushering in various labour reforms, on 22nd September presented by Minister Dilip Thakor. “Labour laws reforms have been done in line with Ease of Doing Business on instructions of the CM Shri Vijay Rupani as per vision of the Prime Minister” said Vipul Mittra IAS, ACS of the Labour & Employment ...Read More

Gandhinagar: GIFT City – India’s first operational smart city and International Financial Services Centre (IFSC), has allotted 10 lakh Sq. ft build up area (BUA) to Savvy Infrastructure Pvt. Ltd. for development of commercial, residential and social buildings in GIFT SEZ area. Savvy will develop around 5 projects and invest about Rs. 700 crores in this development. This will be in addition to the existing 23 storied commercial tower which consists of offices & Free Trade Warehousing Zone (FT...Read More

Surat: Union minister Dharmendra Pradhan today flagged off 88th K-9 Vajra tank manufactured at L&T complex Hazira in Surat. The minister also flagged off super critical equipment - Ethylene Oxide Reactor, , Wash Tower and deethanalyzer at Ro-Ro jetty of L&T. It's worth noting that L&T made Ethylene Oxide Reactor is going to be installed at Indian Oil Corporation (IOL) facility at Paradeep in Odisha. Pradhan said L&T Hazira unit is a living example of Atmanirbhar Bharat. He said IOC is under its ...Read More

Gandhinagar: Larsen & Toubro (L&T) and its geotechnical subcontractors have started the soil testing and joint ground surveys in Gujarat for the construction of the 237.1 km Package C4 of the 508.17 km Mumbai-Ahmedabad High Speed Rail (MAHSR Bullet Train), Metro Rail Guy reports. The exercise is being conducted to reaffirm the findings of the first geotechnical investigation that was conducted on the project back in 2017.  The ongoing assessment will assist in the design and constr...Read More

Mumbai: Facing the brunt of farmer's ire over perception of it being a beneficiary of new farm laws, Reliance Industries on Monday said it neither buys foodgrains directly from farmers nor is in the business of contract farming. In a statement, billionaire Mukesh Ambani's firm said its subsidiary Reliance Jio Infocomm Limited (RJIL) has filed a petition in the Punjab and Haryana High Court seeking "the urgent intervention of government authorities to bring a complete stop to the illegal acts ...Read More

Statue of Unity: Federation of Industries & Association (FIA) will hold a brainstorm meet at Statue of Unity over the agenda of Prime Minister's call to achieve 10 trillion dollar economy status for India by year 2030. About 100 representatives of industrial associations, regional chambers, regional federations and leading industrialists will attend this meet on 3rd January. Chief Minister Rupani, union minister Mandavia, GIDC chairman Rajpur will address the gathering online. FIA will also sig...Read More

New Delhi: The gross GST revenue collected in the month of December 2020 is Rs. 1,15,174 crore of which CGST is Rs 21,365 crore, SGST is Rs 27,804 crore, IGST is Rs 57,426 crore (including Rs. 27,050 crore collected on import of goods) and Cess is Rs. 8,579 crore (including Rs. 971 crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of November up to 31st December 2020 is 87 lakhs. The government has settled Rs. 23,276 crore to CGST and Rs. 17,681 c...Read More