Tax filingNew Delhi, May 15: E-filing of tax returns in April 2016 rose 68.5 per cent to over 8.32 lakh from 4.94 lakh a year ago. In all, 4.33 crore returns were electronically filed last fiscal. Investors back P-notesNew Delhi, May 15: As market regulator Sebi readies to tighten its rules for controversy-ridden P-notes, major foreign investors, including JP Morgan, HSBC, UBS and Goldman Sachs, have supported the proposed provisions for immediate reporting of any breach to the regulator and filing of suspicious transaction reports. However, these investors have said introduction of any further control measures was unlikely to be "resource effective" as the regulatory requirements in India were already more stringent than other jurisdictions globally for offshore derivative instruments, commonly known as participatory notes. Arcil bad loansMumbai, May 15: The country's oldest asset reconstruction company Arcil has blamed an "overheated market" for its slow pace of snapping up bad assets in recent years, but asserted that it would regain its eminence by focusing on mid-cap deals and undertake a fundraising exercise this fiscal.

Source: The Telegraph May 16, 2016 00:28 UTC