Abhishek Securities

India's leading integrated travel and travel related financial services company Thomas Cook (India) Ltd. has announced its partnership with RBL Bank (also known as Ratnakar Bank), to distribute its innovative multi-currency Borderless Prepaid Card via the bank's 185 branches across India; offering India's outbound consumers enhanced access and convenience. The collaboration expands the reach of Thomas Cook India's Borderless Prepaid Card via the extensive network of RBL Bank, across India's metros, mini metros, emerging Tier II & III regional markets and rural India. The Borderless Prepaid Card offers travellers the advantage of loading up to eight currencies on a single prepaid card (US Dollars, British Pounds, Euro, Australian Dollars, Canadian Dollars, Swiss Francs, Singapore Dollars & Japanese Yen); thus empowering the cardholder with immediate access to destination currency. Unique consumer-centric features on the card include instant loa...

The share transfer of Catholic Syrian Bank has been completed with the allotment of 23.2 per cent equity shares to 20 investors, amounting to over Rs 157 crore, a top official said today. "In all 87,44,090 shares of the bank at the rate of Rs 180 per share, each with face value of Rs 10 and premium of Rs 170, amounting to Rs 157,39,36,200 were allotted to the new investors, the bank's Managing Directer and CEO Rakesh Bhatia told PTI here. The share transfer issue of the CSB was pending over two decades, Bhatia said. The take over bid of the bank in 1994 by Bangkok-based NRIs Siam Vidhya Group, headed by Surachan Chansrichawla, by acquiring bank's 19,59,016 shares out of a total of 54,14,000 shares, ran into rough weather with the Catholic Archdiocese coming out against it. SVG had acquired about 20 per cent of shares at the rate of Rs 85 per share in 1994. The then bishop of Thrissur diocese Mar Joseph Kundukulam had threatened to withdra...

Ratnakar Bank Ltd (RBL) has appointed four investment banks for its Rs.1,200 crore initial public offer (IPO), which is expected to hit the market before March 2015, three people close to the development said. The bank is expected to file its documents with the market regulator as early as October. The bank has mandated Kotak Mahindra Capital Co. Ltd, Citigroup Inc., Standard Chartered Plc and Morgan Stanley to handle the issue. Mint had reported on 1 July that the private sector lender plans to dilute about 10% stake through the IPO, which values the bank at Rs.12,000 crore. “Things have got better macroeconomically. Confidence is back in the market, interest rates have peaked and the rupee is stable. The macroeconomic environment is in favour of banks and a lot of investors are interested to buy stake in the bank,” one of the persons mentioned above said. An RBL spokesperson did not respond to an email seeking comment. Though RBL has no immediate requirement for fresh capital, ...

Otis Elevator Company, a unit of United Technologies Corp, appointed Sebi Joseph as Managing Director of Otis Elevator Company (India) Ltd. In this role, Joseph will lead Otis’ business operations throughout India, the world’s second largest elevator market. He started his career in 1987 as an engineering trainee and spent 16 years in various positions of increasing responsibility, including General Manager, Karnataka operations. From 2003 to 2007, he was President and General Manager of Otis Philippines and in 2008 was appointed Director, Marketing, Sales and Communications for Otis South Asia Pacific and Gulf Area. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Tamilnad Mercantile Bank today inroduced the 'TMB Little Super Star savings bank scheme' exclusively for children in the age group of 11 to 18 years. The scheme was launched at a function at the Kamaraj College here by Mayor A P R Antony Grace and presided over by H S Upendra Kamath, MD & CEO of the bank. New Passbooks were distributed on the occassion to minor children who opened accounts under the new scheme. The Scheme was launched simultaneously at all 10 Regional offices of the bank Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Before the annual Budget 2014-15 was introduced, the shares of listed company or private company held for over 12 months were categorised as long-term capital asset (LTCA). But the Finance (No 2) Act 2014 has amended this position with effect from April 1, 2014, and now only listed shares, if held for over 12 months, would be considered as LTCA. The unlisted shares must be held for over 36 months to qualify as LTCA. The amendment offered relief to those holding unlisted shares for more than 12 months and less than 36 months, and selling them between April 1 and July 10, 2014. The amendment provided that gains on such sales would be considered long-term capital gain (LTCG). Accordingly, listed shares if held for less than 12 months or unlisted shares held for less than 36 months would be termed as short-term capital asset (STCA). Tax implications are different for LTCG and short-term capital gain (STCG), depending upon the duration of the asset. Tax implication on LT...