Edible oil major Ruchi Soya said that its board has decided to change the company's name to Patanjali Foods Ltd. In a regulatory statement released on Monday, the Patanjali-Ayurved backed firm also stated that the decision would be subject to getting approvals from the Registrar of Companies and others. Ruchi Soya also said the board at a meeting held on April 10 accorded its in-principle approval for evaluating a "most efficient mode" to enhance synergies with Patanjali Ayurved Ltd and authorise company's officials to "finalise" or "deliver" any such proposed transaction (if any).
Petrol and diesel prices were hiked again on Thursday for the ninth time in last 10 days. In Delhi, petrol and diesel rates were hiked by 80 paise a litre each, according to a price notification of state fuel retailers. A litre of petrol in the national capital will now cost Rs 101.81 as against Rs 101.01 previously, while diesel will be sold at Rs 93.07 from Rs 92.27 per litre earlier. In Mumbai, petrol will be retailed at Rs 116.72 per litre, while diesel will be sold at Rs 100.94 per litre. Among the metro cities, fuel rates are the highest in Mumbai. The prices vary across the states due to value-added tax (VAT).
The Centre has planned to tax Employees Provident Fund (EPF) contributions exceeding Rs 2.50 lakh yearly. For government employees, the limit has been set at a higher end of Rs 5 lakh. Under the set of new Income Tax (I-T) Rules, PF accounts are likely to be divided into two parts taxable and non-taxable contribution accounts from April 1, 2022.