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Business brief

Tuesday, 22 August 2023 | Agencies

VIT, Vellore, holds 38th annual convocation

Vellore Institute of Technology (VIT), Vellore, conducted its 38th annual convocation recently. Minister of State for Road Transport, Highways and Civil Aviation General Dr VK. Singh took part as chief guest and delivered the convocation address. Founder-Chancellor of VIT Dr G Viswanathan presided over the convocation. In his convocation address, Dr Singh said, "There is no shortcut to success, though it is written in books. It all depends on how committed, hardworking and knowledgeable you are." He advised the graduates not to stick to one solution for all problems but seek solutions in a pragmatic way. "Education is what you gather as part of the environment in the institution. This adds to your personality. Education is what you have learnt and how you will apply it, how you develop an open mind and analyse things," Dr Singh added. Earlier, VIT Founder-Chancellor Dr Viswanathan in his address urged Dr Singh to use his good offices to influence the Centre and State Governments to spend more on higher education and compete with advanced countries.

KIIT celebrates 19th annual convocation

The 19th Annual Convocation of KIIT Deemed to be University (KIIT-DU), Bhubaneswar was held on 19thAugust 2023, during which a total of 6638 students were conferred with Bachelor's, Masters, and PhD degrees. Gracing the occasion as the Chief Guest, Prof Ganeshi Lal, Governor of Odisha, exhorted the young graduates to spread the message of love in society and uphold the true values of justice, equality and fraternity. Drawing a parallel to the charm and fragrance of a flower that continues to smile in the face of adversities and pain, he urged students to discover their innate qualities and utilize them for the betterment of humanity. The university also conferred Honoris Causa Doctorate Degrees upon three eminent persons: Dr. Ajit Kumar Mohanty, Chairman, Atomic Energy Commission (AEC) &, Secretary, Department of Atomic Energy (DAE), Govt. of India; Jitendra Kumar Mohanty, Chairman & Managing Director, Swosti Group of Hotels, Bhubaneswar; and Chander Prakash Gurnani,CEO & Managing Director, Tech Mahindra. In his presidential address, Ashok Kumar Parija, Chancellor, KIIT DU said that education is the passport to a bright future and KIIT is shaping the bright minds as responsible citizens of his nation.

RAJSICO chairman Rajiv Arora inaugurates ODOP display window

The One District One Project (ODOP) initiative, a visionary scheme introduced by Government of India, the Industries Department of the Government of Rajasthan, is set to shine a spotlight on the rich cultural heritage and exceptional craftsmanship of the state. The scheme, aimed at fostering social and economic development among artisans, craftsmen, and farmers, will witness a significant milestone as the ODOP display window is inaugurated by Rajiv Arora, Chairman of RAJSICO & REPC on Monday, 21st August 2023 at RAJASTHALI Emporium, New Delhi. Veenu Gupta, Additional Chief Secretary, Industries and Commerce, Government of Rajasthan, Shubhra Singh, Additional Chief Secretary and Chief Resident Commissioner, Government of Rajasthan, Dheeraj Srivastava, Commissioner Rajasthan Foundation, Government of Rajasthan, Dr. Manisha Arora, Managing Director of Rajasthan Small Industries Corporation, Government of Rajasthan and other distinguished officials graced the event.

Liquor baron Radico evades `1,075 cr tax: CAG report

Uttar Pradesh based liquor major Radico Khaitan of Rampur district in the State has been found guilty of a massive tax evasion worth Rs 1075 crore by the national audit watchdog Comptroller Auditor General (CAG). The losses were found after the CAG compared the Income Tax Returns and Excise Documents of the company and initial investigations has tracked upon that the said evasion has been committed by the liquor manufacturing unit in connivance of the officials of Excise Department and few of them have been found guilty by the Uttar Pradesh Revenue Department. CAG documents suggest that when figures of Radico Khaitan of the Year 2013-14 to 2019-20 was compared it was noticed a difference of Rs 1075 Crores. In the said amount even the Interest amount of Rs 482 Crores has been included. The Consumption quantity of Input was shown less in Excise documents and more in Income Tax Returns, officials explained.With such massive evasion, the merchants paying less tax in comparison to the benefit of Samadhan Scheme availed during the previous is to face departmental inquiry.

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