SIGN IN SUBSCRIBE

News Update

CDS Gen Anil Chauhan to chair Parivartan Chintan - IICus - Warehousing of imported solar panels/solar modules - Instruction dated 9 th July 2022 appears to travel far beyond the advisory and clarificatory function which stands placed in the Board by virtue of s.151A of CA, hence quashed: HCPhase III: EC records 65.68% voter turnoutCus - Petitioner had opted for conversion from a less rigorous procedure of availing Duty Drawback Scheme to a more rigorous procedure under Advance Authorisation Scheme and as per Circular 36/10-Customs, same was not possible: HCDRDO organises two-day National Symposium & Industry Meet on 'Emerging TechnologiesCX - Respondents cannot go beyond the Reward Scheme as no discretion is vested with them to release any amount towards the reward, before finalization of the proceedings against assessee: HCGST - Petitioner is given liberty to manually file an appeal against impugned order regarding transitional credit of SGST for which they had valid evidence for payment of VAT of same amount: HCGST - For the period for which return was filed, registration cannot be cancelled retrospectively: HCHas Globalisation favoured capital more than labour? Can taxing super-rich help?GST - SC asks Govt not to use coercion for recovering arrearsChanging Tax Landscape in IndiaPrivate equity funds pouring in India’s healthcare sectorInterpretation of StatutesGoogle, Microsoft move Delhi HC against order to erase non-consensual intimate images16th Finance Commission invites views from general public on terms of referenceEvery party committed to ensure PoK returns to India; Jaishankar695 candidates to contest LS elections in Phase 5Astronomers’ efforts lead to discovery of a rocky planet with atmosphereCSIR hosts Student-Science Connect program on Climate ChangeVolkswagen asks EU not to raise tariffs on EVs from ChinaI-T - Assessee given insufficient time to file reply to Show Cause Notice; assessment order quashed; matter remanded for reconsidering assessee's replies: HCChina blocks imports from Intel & QualcommI-T - Assessee has 5 email IDs & responded to communications received on one of these IDs; Assessee cannot claim to have been denied an opportunity of personal hearing before passing of order: HCRecord rainfall damages over 1 lakh homes in Brazil; over 100 lives lostI-T- Additions framed u/s 68 r/w Section 115BBE are unwarranted where assessee duly explains nature & source of cash receipts, through sufficient documentation: ITATRussia bombards Ukraine’s power supply; Serious outages fearedI-T- Re-assessment cannot be resorted to beyond 4 years from end of relevant AY, where assessee has not failed to file ITR or to make full & true disclosure of facts necessary for assessment: ITATIndia received foreign remittance of USD 111 bn in 2022, says UNI-T- Receipt of subscription fees can't be considered as commercial activity: ITATPitroda resigns as Chairman of Indian Overseas Congress over racist remarkST - In case of payment received through cheque, it is the date of honouring cheque, which has to be construed as date of receipt of advance payment and since amount was received by appellant on or after appointed date, appellant would not be entitle to benefit of exemption notification: CESTAT86 flights of AI Express cancelled as crew goes on mass sick leaveCus - When undervaluation of goods is alleged solely based on value of contemporaneous imports, all details relating to such imports are to be necessarily established by Revenue: CESTAT
 
PFC pays dividend of Rs 2,033 Cr to Government

By TIOL News Service

NEW DELHI, APR 04, 2024: POWER Finance Corporation Ltd. (PFC), a Maharatna Central Public Sector Enterprise and the country's leading NBFC in the power sector, has paid Rs. 554 crores to the Government of India as the third Interim Dividend for the financial year 2023-24, on equity shares held by the Government of India. This is in addition to the first interim dividend of Rs. 832 crores and the second interim dividend of Rs. 647 crores paid by PFC to the Government of India earlier.

The interim dividend RTGS (Real Time Gross Settlement) intimation advice has been presented to the Union Minister for Power and New & Renewable Energy R.K. Singh and Secretary, Ministry of Power Pankaj Agarwal, by CMD, PFC, Smt. Parminder Chopra in New Delhi today, April 3, 2024. Director (Projects), PFC, Rajiv Ranjan Jha and Director (Commercial), PFC, Manoj Sharma were also present on the occasion.

The third interim dividend @ 30% i.e. Rs. 3 per equity share of face value of Rs. 10 each was declared by the Board of Directors in the Board meeting held on 11th March, 2024.

With this, the total interim dividends paid by PFC to its shareholders for the financial year 2023-24 becomes Rs. 3,630 crores, @110% i.e. Rs. 11 per equity share of the face value of Rs.10 each. This is the highest ever interim dividend paid by PFC.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST