NRIs can open one-person companies in India

News Network
February 1, 2021

New Delhi, Feb 1: Indian Finance Minister Nirmala Sitharaman brought cheer to Indian entrepreneurs with a bold move to permit one-person companies.

In a major boost for Indian expats (NRI) investments in India, there is no restriction on paid up capital and turnover to incentivise incorporation of one-person companies in their home country.

Bal Krishen, chairman of Century Financial, said: “The move, which allows NRIs to incorporate one-person companies in India, will also reduce residency limit from current stipulation of 182 days to 120.”

The move is especially likely to benefit the Indian real estate sector, which typically attracts lots of investment and interest from expats residing in the Gulf.

"For FY 2021, total investments by India expat population in real estate sector is expected to exceed $13.1 billion, a five per cent year-on-year growth.

"Recent price correction in certain pockets of India real estate clusters coupled with the new budget moves would likely act as huge trigger for fresh impetus to this sector. Furthermore, more and more expat investors are likely to use this opportunity for investing even in smaller amounts at the start," said Krishen.

Dhaval Jasani, Founder and CEO at ZTI, said the move will invite more talent back to India.

"One-person companies will enable entrepreneurs to establish and market their own developments rather than partnering with bigger companies.”

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News Network
November 15,2024

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Iran’s Islamic Revolution Guards Corps (IRGC) has killed or captured 69 terrorists linked to the Israeli spy agency Mossad during a major counterterrorism drill in the country's southeast, its spokesman says.  

General Ahmad Shafaei, the spokesman for the “Martyrs of Security” drill, said Friday that a total of 23 terrorists have been killed and another 46 arrested in various clean-up operations ever since the IRGC Ground Force launched it in the Sistan and Baluchestan province on November 1.

Seven terrorists have also turned themselves in during the period.

“The undeniable fact about terrorists is that they rely on arrogant powers, particularly the intelligence service of the wicked and vicious Zionist regime," Shafaei said.

“Unfortunately, weapons and munitions at terrorists’ disposal are among the most sophisticated ones in the world. This accounts for their heavy dependence.” 

The official stated that several members of the disbanded terror teams were non-Iranian nationals, who had been hired by foreign intelligence agencies to carry out acts of sabotage and terror inside Iran.

In a most recent operation, six terrorists were arrested and four others were eliminated, three of whom were non-Iranians, he added. 

On October 26, ten members of Iran's law enforcement forces were killed in a terrorist attack in the Gohar Kuh district of Taftan in the Sistan and Baluchestan province.

The so-called Jaish al-Adl terrorist group claimed responsibility for the assault, which was one of the deadliest in the province in recent months.

The group has carried out numerous terrorist attacks in Iran, primarily in Sistan and Baluchestan.

Its tactics include the abduction of border guards as well as targeting civilians and police stations within the province to incite chaos and disorder.

In January, Iran launched a military operation during which the headquarters of the Pakistan-based terrorist group was targeted in missile strikes, destroying its infrastructure.

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Media Release
November 14,2024

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Riyadh: The Jam'iyyatul Falah (JF) Riyadh Unit held its Annual General Body Meeting at Loaloah Istirah in Riyadh on Thursday, October 3, 2024.

The gathering commenced with Master Ayman reciting verses from the Holy Quran, setting a solemn tone for the event. Br. Haneef Bardila warmly welcomed attendees, including JF Life Members, Office Bearers from various organizations, and guests, and extended his congratulations to all present.

During the meeting, Br. Muhammad Ashfaq, President, delivered the Annual Report, highlighting the unit's achievements, while Treasurer Br. Nazeer Ahmed presented the Annual Financial Report.

Br. Ashfaq updated members on the ongoing efforts of Jam'iyyatul Falah in the Dakshina Kannada and Udupi districts for the year 2023-2024. Expressing gratitude for the support of the members and the committee, he encouraged the youth to join JF, emphasizing the importance of continuing the mission initiated by their elders 36 years ago.

The primary guest, Br. Yasin Baig, inspired the audience with a message underscoring the significance of service. He encouraged everyone to heed the Prophet's (pbuh) words: “Take advantage of five before five: your youth before your old age, your health before your illness, your wealth before your poverty, your free time before you become busy, and your life before your death.” He also spoke about the responsibility and blessing of serving the community through Jam'iyyatul Falah, stressing the promise of rewards in both this life and the hereafter.

Following his address, Br. Ashfaq Ahmed (President) formally dissolved the current committee and entrusted Br. Abdul Hameed and Br. Fazlur Rehman with the election process. A new Executive Committee was then formed for the 2024-2025 term, with Br. Salman Noor elected as the President, Br. Abubaker Irfan as General Secretary, and Br. Nazeer Ahmed continuing as Treasurer. Additionally, 26 other members were appointed to the Executive Committee.

The evening concluded with a dinner for all participants, and Br. Haneef congratulated the newly formed JF Riyadh Executive Committee and all attendees for their contribution to the event's success.

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Office Bearers Elected for the 2024-2025 Term

President: Salman Noor

Vice President: Fazlur Rehman

General Secretary: Abubaker Irfan Sheikh

Joint Secretary: Irshad Moideen

Treasurer: Nazeer Ahmed

Joint Treasurer: Akhil Ganjimutt

Auditor: Haneef Bardila

Advisors: Sheikh GK, Abdul Hameed Wenz, Abdul Basheer Beary

NRCC Representatives: Mohammed Ashfaq, Akthar Shaikh

NRCC Rep. at JFCC: Parvez Ali

Sports Coordinators: Shareef Ahmed, Ayaz Ahmed, Mohammed Mahir, Sameen Gurukambla, Mohammed Gazali, Javed Khan

Event Coordinators: Abdul Hameed Nazeer, Sharief Thokur, Sadhik Mohammed

Media Coordinator: Parveez Ahmed

Committee Members: Sadique Moideen, Sayed Sameer, Mohammed Khizer, Mohammed Sarfaraz, Fareed Mohammed, Suhail Ahmed

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News Network
November 10,2024

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Mangaluru: A tragic accident took place on Saturday at Chembugudde near Thokkottu, claiming the life of a 47-year-old woman after a tanker lorry ran over her. The victim, identified as Rahmat H Rashid, was riding pillion with her husband, Abdul Rashid G, on their scooter. 

The couple was traveling from Yenepoya Hospital to Bajpe when the scooter skidded on the poorly maintained road. Rahmat fell onto the road and was fatally struck by a tanker lorry that was coming from behind. Despite being rushed to the hospital, doctors declared her dead upon arrival.

The incident prompted a swift response from the DYFI Ullal Taluk Committee, which staged a protest on Saturday night, condemning the unsafe condition of the road. Nithin Kuthar, president of the committee, criticized MLA and Legislative Assembly Speaker UT Khader for failing to ensure safe infrastructure, despite touting the road as toll-free. 

Kuthar demanded immediate repairs, warning that the committee would march to the MLA’s office with black flags if the road is not fixed within a week.

Former DYFI State President Sunil Kumar Bajal also voiced frustration over the deteriorating condition of Thokkottu market, highlighting the struggles people face while crossing roads riddled with dangerous potholes. In response to public outcry, temporary repairs were made to the road at Chembugudde on Sunday, though locals remain wary and demand a more permanent solution. 

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