EnterpriseCHENNAISATURDAY

15 JULY 2017 5

NT Bureau/Agencies Chennai, July 15: The Income

Tax Department has identifi ed an-other 5.56 lakh individuals whose tax profi les are found inconsistent with the money deposited by them post demonetisation. In the second phase of ‘Operation Clean Money’ launched in April with an aim to detect black money generation post demonetisation, the I-T department has used information received under the Statement of Financial Transactions (SFT) from banks to identify additional cases.

‘These are persons whose tax profi les were found to be inconsist-ent with the cash deposits made by them during the demonetisation period,’ a Finance Ministry state-ment said. All identifi ed persons are being informed through email and SMS for submitting their response online, it added.

SO FAR IN NUMBERS

Another 1.04 lakh persons who did not disclose all bank accounts dur-ing e-verifi cation in the fi rst phase of operation clean money have also been identifi ed. In the fi rst phase of Operation Clean Money launched on 31 January, 17.92 lakh persons had been identifi ed for e-verifi cation of large cash deposits, of which 9.72 lakh people had submitted online response.

PHASE-IIAt the time of launch of the second

phase of Operation Clean Money, the I-T department had said it will investigate over 60,000 individuals, including 1,300 high risk persons. The Central Board of Direct Taxes (CBDT), policy-making body of the department, had then said it has detected undisclosed income over Rs 9,334 crore between 9 Novem-ber 2016 and 28 February 2017.

INFO ONLINEThe information in respect of the

cases and accounts identi-fi ed has been made avail-able in the e-fi ling window of the PAN holder in the e-fi ling portal of the I-T department. The PAN ho lde r c a n v i e w the infor-mation using t h e

link ‘Cash Transactions 2016’ under ‘Compliance’ section of the portal. The taxpayer will be able to submit online explanation without any need to visit income tax offi ce. The tax department had in April

notifi ed the new ITR forms which added a new column seeking infor-mation on cash deposits above Rs two lakh made during the 50-day demonetisation period.

This information will be matched with the information in possession of the I-T department.

‘The taxpayer should ensure that ITR is compliant with amount de-posited in bank accounts during the period of demonetisation and while computing income, the amounts so deposited are considered/ taken into account while paying taxes,’ the statement said. Cash deposits made in the above period may thus be fully and truly disclosed in the ITR, it added.

Tata Steel signs contract with

Railways

New Delhi, July 15: Tata Steel said it has entered into

long-term tariff contract with railways, becoming the fi rst company in the steel sector to sign such pact. ‘Tata Steel became the fi rst steel company to enter into a long-term tariff contract (LTTC) with Indian railways,’ the com-pany said in a statement.

LTTC has been introduced by Indian Railways to establish long-term contracts with customers with guaranteed incremental revenue for Indian Railways, the statement said, adding that the contract can be for a duration of three to fi ve years. The main objectives of LTTC includes long-term revenue commitment from customers, preferential treatment to customer for supply of wagons, gen-eration of additional traffi c volumes and revenues for railways and freight concession on retention of traffi c as well as on incremental traffi c.

The long-term contract also aims at freight escalation protection i.e. freight increase mid-year will not be passed on to the customer.

New Delhi, July 15: Yoga guru Ramdev promoted Pa-

tanjali Ayurveda has been featured among the top 10 most infl uential brand in India along with electronic major Samsung and new entrant Reliance Jio, according to a study by the global research fi rm Ipsos. Besides, Google has been ranked at the top slot while Microsoft and Facebook were ranked at number two and three, respectively.

Home grown Patanjali and Muke-sh Ambani’s controlled Reliance Jio have bagged the fourth and ninth position, respectively, Ipsos said in its report of most infl uential

brands. Interestingly, Patanjali and Reliance Jio made an impressive entry as they did not fi gure in the previous edition of the study.

The Ipsos study, which evalu-ates over 100 brands across 21 countries, covered more than 1,000 Indians online to assess over 100 brands. The study involved 36,600 interviews.

Commenting on the development, Ipsos Public Affairs and Loyalty Ex-ecutive Director Parijat Chakraborty said, ‘The Most Infl uential Brands are larger than life. They enhance our lives make it better. We connect with them emotionally and cannot

imagine our lives without them - they are infl uential.’

LIST GOES ONState Bank of India (SBI) being

the only financial institution that made to the list, moved up four ranks to take the fi fth position. E-commerce player Flipkart dropped three spots to take the tenth place while Amazon climbed couple of steps to take the sixth place, the study said.

Other companies that made to the list include Samsung (7th) and Airtel (8th).

THE RESTThe study measured the biggest,

most wel l -known and highest spending brands. Interestingly, all brands that have featured in the list are those that consumer engages with on a daily basis, the study said. In the ranking list from 11 to 20, brands that bagged a place include Snapdeal, Apple, Dettol, Cadbury, SONY, HDFC Bank, Maruti Suzuki, Good day and Amul.

The brands are rated by the con-sumers on quality, experience and value, as also factors such as big marketing spends and consciously work towards increasing their brand equity were counted, the study said.

New Delhi, July 15: The country’s third largest IT fi rm

Wipro said its board will consider a proposal for buyback of equity shares on 20 July. With this, Wipro joins the growing roaster of Indian IT fi rms that have announced buyback offers to return surplus cash on their books to their shareholders.

Share buybacks typically improve earnings per share and return surplus cash to shareholders while also sup-porting share price during periods of sluggish market conditions. ‘Wipro Ltd Board will consider a proposal for buy-back of equity shares of the company on 20 July 2017,’ the company said in a regulatory fi ling.

The company’s board is meeting 19 and 20 July to also consider Wipro’s fi rst quar-ter results. The company did not disclose the size of the buyback. As on March

Bengaluru, July 15: IT major Infosys has committed to

adding 10,000 jobs in the US in the next few years, but it hires similar number of people in India in less than two quarters, its CEO Vishal Sikka said. Asserting that hiring in the US will not impact its recruitment plans in India, the Bengaluru-based company said it has rolled out campus offers to 19,000 people here.

‘There is absolutely no slowdown in hiring in India. We have talked about 10,000 hiring in the US in two years, we do 10,000 hiring in India in less than two quarters,’ Sikka said.

Infosys COO UB Pravin Rao said more than 1,000 people have joined Infosys during the April-June 2017 quarter. ‘We have made offers to 19,000 people (trainees) to join this year, we expect 12,000-13,000 to join. Hiring in the US is not really im-pacting our hiring in India,’ Rao said.

Infosys had 1,98,553 employees at the end of June quarter. This is, however, lower by 1,811 people compared to the March quarter. Infosys CFO MD Ranganath said

India’s exports up

4.39%New Delhi, July 14:

India’s export grew by 4.39 per cent to $23.56 bil-lion in June as shipments of chemicals, engineering and marine products improved, according to the offi cial data released recently. Import too rose by 19 per cent to $36.52 billion in June from $30.68 billion in the year-ago month due to rise in inward shipments of oil and gold.

peration Clean 2.0peration Clean 2.0� IT dept identifi es another 5.56 lakh individuals with

‘inconsistent profi les’

At the time of launch of the second phase of Operation

Clean Money, the I-T department had said it

will investigate over 60,000 individuals, including 1,300

high risk persons

Google tops most infl uential brands in India: Study� Jio, Patanjali also in list released by global research fi rm

‘Patanjali and Reliance Jio have bagged the fourth and ninth position, respectively,

Ipsos said. Interestingly, they both made an

impressive entry as they did not fi gure in the previous

edition of the study’

Wipro to consider buyback of shares

Share buybacks typically improve

earnings per share and return surplus

cash to shareholders while also supporting

share price during periods of sluggish market conditions.

CFO to USInfosys will relocate its Chief Financial Offi cer MD Ranganath to the

US and has also revised his compensation package. ‘The company has asked, for business reasons, MD Ranganath, the CFO, to oper-ate from the US,’ Infosys said in a fi ling. It added that based on the recommendation of Nomination and Remuneration Committee, the board of directors has approved a revision to his salary.

Ranganath’s salary will comprise a fi xed pay of $0.69 million (Rs 4.44 crore) and a variable compensation of up to $0.56 million (Rs 3.6 crore), effective 1 July 2017.

No slowdown of hiring in India: Vishal Sikka� Infosys had 1,98,553 employees at the end of June quarter

the company has announced a very healthy variable pay across levels that impacted its margins by approxi-mately one per cent.

WAGE HIKE & MOREThe company will roll out wage

hikes effective this month but has not disclosed the quantum. Ranganath said though the headcount has grown

by just 0.8 per cent, the company’s revenue has grown 6.3 per cent year-on-year.

IT firms are increasingly turning to automation in a bid to increase their revenues without necessarily recruiting more people. Interestingly, Infosys at its 36th annual general

meeting last month had said more than 11,000 jobs have been released due to automation.

This comes at a time when there are concerns of large-scale layoffs across companies like Tech Mahindra, Wipro and Infosys. The USD 150-billion sector is one of the country’s biggest employers.

2017, Wipro had cash and cash equivalents totalling Rs 5,271 crore.

BUYBACKS BEFOREAmong Indian IT companies, TCS,

which had a cash pile of over Rs 43,000 crore, has already com-pleted a Rs 16,000 crore buyback programme earlier this year. The In-fosys board has already identifi ed an amount of up to Rs 13,000 crore ($2 billion) to be paid out to shareholders during fi nancial year 2018, through dividend and share buyback.

Vishal Sikka

OO

CASTLE TRADERS LIMITED[CIN:L51909TN1983PLC045632]

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Pursuant to the Regulation 29 read with Regulations 33, 46 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions, if any, NOTICE is hereby given, that a meeting of the Board of Directors of the company will be held on Monday, the 24th July 2017, inter-alia, to consider, approve and take ��� ������� �� ����� ��� ����� ��� ������� ���the company for the quarter ended 30th June 2017. The information is also available on the website of the company at www.castletraders.in and on the website of the Metropolitan Stock Exchange of India Limited at www.msei.in������ � ���� ��������� ������������ ���in the securities of the company would remain closed from 15th July 2017 to 26th July 2017 for all the connected persons as per the SEBI (Prohibition of Insider Trading) Regulations, 2015.

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'��B�"J�%�������JPlace:ChennaiDate:15th July 2017

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(Testamentary and Intestate Jurisdiction)

O.P.No.287 of 2017In the matter of Indian Succession Act XXXIX of 1925

AndIn the matter of Last Will and Testament of K.Kalyanasundaram (Deceased)

Tmt. K.Rajalakshmi,W/o. Late K.KalyanasundramB8, 8/1 R.R.Flats, Warran Road, Mylapore, Chennai - 600 004

...PetitionerVs

1. Tmt. Bhuvaneswari Jairam, D/o. Late K.Kalyanasundaram2. Tmt. Ramaa IyerD/o. Late K.Kalyanasundaram3. Tmt. Geetha SriramD/o. Late K. Kalyanasundaram4. Selvi K. SripriyaD/o. Late K.KalyanasundaramAll 1 to 4 Respondents are residing at No.B8, 8/1 R.R.Flats,Warran Road, Mylapore, Chennai - 600 004

...RespondentsAll persons claiming to have any

interest in the estate of the abovenamed K.Kalyanasundaram who was resided at No.B-8, 8/1 R.R.Flats, Warran Road, Mylapore, Chennai 600 004 and died on 25.12.2010 at Chennai are hereby cited to come and see the proceedings before the Learned Master sitting in the Original side of High Court of Judicature ������������������������������������������ �� ����� ����� �� �!� �"� �� ������� ��grant of Letters of Administration.

Dated at Chennai on this the 12th day of July 2017.

K.ARIVALAGANAsst. Registrar

Original Side, High Court, Chennai - 104

M/s. Dr. R.GopinathR. Shyamala & K. JamunaNotary Public and Commissionerof Oaths, 20 Law Chambers, High Court, Buildings, Chennai - 104 Counsel for Petitioner

PUBLIC NOTICEMy client Mr.A.Abdul Rahman, S/o. Mr.J.Abdul Khadar is the owner of the property located in Perumaleri Village, Thirukazhukundram Taluk, Kancheepuram District comprised in New survey No.212/8A, “Tample Garden” Plot No.199 to the extent of 9656 Sq.ft. My client is the absolute owner of the said properties and anyone has any claim or interest whatsoever over the said property, he/she is requested to contact me within 15 days from the date of this Publication. Otherwise I will be strictly presumed that no one has any claim or any interest over the aforesaid property.

S.JANARTHANAN, M.Com., M.B.A., B.L.,

Advocate,No.5, 6, 7/12 Thangal Street,

Virugambakkam, Ch - 600 092. Mobile No.94440 81947

����������My daughter, VENYA, Date of Birth 08.05.2008, residing at No.34, North Mada Street, N u n g a m b a k k a m , Chennai - 600 034, shall henceforth be known as VENYAA.

JAGAN(Father)

REVENUE DIVISIONAL OFFICERTAMBARAM DIVISIONR.C.NO:1086/2017/E

R.KAYALVEZHI, D/O C.R.RAJAN,Swathi Appartments,Thiruvalluvar Nagar,Thiruvanmiyur, Ch-41

...Petitioner#�$�����% $ � �����'�����Tambaram Division, Ch-45

...RespondentI Reside in the above mentioned address. My husband B.Kamalakannan died on 15/05/2006 by a road ��� ���� *� +��������� � �� ;���� �His death was not registered legally ���� ���<������������=��!����>��future requirement purpose, I have ��� ������ �!� ������>�� ���� ��?��������#�$������ $ � �����'������by presenting a petition. If anyone ��� ��!� ����� ��@��� ��� � " ���!�inform us within 10 days.

R.KAYALVEZHIPetitioner

����������I, KHUSHUBU SHANTILAL JAIN, W/o. Bhupendra Kumar, Date of Birth: 05.05.1991, residing at No.171, 2nd Floor, Govindappa Naicken Street, Sowcarpet, Chennai 600001, shall henceforth be known as KHUSHUBU JAIN.

KHUSHUBU SHANTILAL JAIN

����������I, NAZIMA NAZAR, W/o. Mohamed Nazar, Date of Birth: 23.03.1963, residing at No.28/1, 1st Floor, A Block, AF1, Bagavathi Ammal 2nd Street, Kolathur, Chennai 600099, shall henceforth be known as NASIMA MOHAMED NAZAR.

NAZIMA NAZAR