MUMBAI: Formation Textile, the US-based winning bidder of Mandhana Industries NSE 0.00 %, has alleged that lenders to the company led by Bank of Baroda NSE -0.24 % as well as its resolution professional have acted fraudulently during the insolvency process by hiding facts to get a higher offer for the assets.
In a blow to apparel exporters, the EU, Bangladesh’s largest export destination, has extended duty-free access to Vietnam, eliminating the competitive edge that the country held over its biggest rival in the trade.
TEHRAN- The chairman of Iran’s Union of Garments Manufacturers and Sellers said that boosting garment output and exports is a top agenda of their activities in the current Iranian calendar year (began on March 21, 2019).
This information was given by Shri, Union Minister for Micro, Small and Medium Enterprises in written reply to a question in Rajya Sabha on Monday.
Budget 2019: The Centre’s budgetary announcement of raising excise duty as well as road & infrastructure cess on petrol and diesel has not gone down well with those associated with Surat’s `80,000 crore textile industry which directly and indirectly employs over 15 lakh people.
New Delhi: In a major relief to exporters, the Centre will now pay the input tax credit (ITC) refunds of state taxes, thereby reducing transaction time and costs, and manual interface in claim processing.