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Capri Global Capital to enter gold loan business in first half of FY23

Non-banking financial company (NBFC) Capri Global Capital Ltd (CGCL) on Monday said it is planning to enter the gold loan business in the first half of the financial year 2022-23.

The lender aims to build a gold loan book size of Rs 8,000 crore and expand its network with 1,500 branch locations over the next five years, according to a statement. Currently, it operates in two major verticals secured MSME loans and affordable housing finance. It also provides construction finance to affordable housing projects and distributes auto loan products of some banks.

NxtGen plans to invest Rs 1,300 crore in data centres across the country

NxtGen Datacenter and Cloud Technologies is gearing up to invest Rs 1,300 crore to set up around 10 more data centers and 236 edge centers across the country.

The company, whose investors include Intel, IFC, and Iron Mountain, is in the process of raising $100 million by the first quarter of 2022-23. The Cloud storage and computing segment player operates four data centers in Mumbai, Delhi, Ahme-dabad, and Bengaluru and is planning to set up centres in Chennai, Hyder-abad, and Visakhapatnam.

Puravankara Q3 sales bookings jump 17% to touch Rs 666 crore

Realty firm Puravankara Ltd's sales bookings rose 17 per cent to Rs 666 crore in the third quarter of this fiscal year on the back of higher volumes as well as per square feet price realisation.

According to its investors presentation, Puravankara sold 0.99 million square feet area during October-December 2021-22 as against 0.91 million square feet area in the year-ago period. The company sold 690 units in the quarter under review as against 661 units in the corresponding period of the previous year.

Delhi High Court stays RBI order on Religare unit debt recast

The Delhi High Court (HC) put an order by the central bank against the debt recast of shadow lender Religare Finvest on hold until the next hearing.

Religare Finvest, a fully-owned unit of Religare Enterprises (REL), said it filed a petition in the Delhi HC against the Reserve Bank of India’s order that said the debt recast cannot be executed because lenders had classified its loans as fraud exposure, according to an exchange filing on Sunday.

CGST finds ITC fraud of Rs 81 cr; Navi Mumbai firm's director held

The CGST Mumbai Zone has arrested the director of a Navi Mumbai-based firm that allegedly availed and passed on Input Tax Credit of Rs 81 crore using bogus invoices to the tune of Rs 479 crore, an official said on Monday.

A CGST release said searches were conducted at various locations acting upon intelligence garnered by deploying data analytics tools, which found that Fantasia Trade Pvt Limited was allegedly indulging in irregularities under section 132 of the Central Goods and Services Tax Act, 2017.

The director of the firm was arrested on February 18 and remanded in judicial custody for 14 days, the release stated.

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