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India's franchise business market has seen tremendous growth, increasing four-fold since 2013, and is now valued at USD 50.4 billion. This boom has been fueled by a growing trust in franchise ownership as a reliable source of income, particularly during the COVID-19 pandemic, when many professionals ventured into the food and beverage industry.<br/><br/>One such franchise, Spice, Grill and Flame (SGF), was established on January 29, 2019, aiming to provide food services. SGF's founder, Kewal Ahuja, has expanded the franchise significantly, supported by strategic PR and advertising efforts. However, serious issues have emerged concerning SGF's compliance and financial practices.<br/><br/>SGF's franchisees have encountered significant challenges. The company collected large franchise fees without reporting them to regulatory bodies like the Income Tax Department and GST Council. Additionally, SGF has failed to comply with mandatory MCA filings. Both SGF and its sister company, Spice, share the same address and management, suggesting potential fund misappropriation. Spice's turnover reports contrast sharply with SGF's nil returns, raising further suspicions.<br/><br/>Specifically, SGF was formed in 2019 and appointed its first auditor on February 25, 2019. However, no financial records were submitted to the MCA for that year. A second auditor, appointed on December 31, 2020, also found no records filed for the previous year. This consistent non-compliance with MCA filing requirements for two consecutive years could lead to SGF being struck off if continued.<br/><br/>Moreover, SGF has not filed income tax returns for the past three years, despite collecting franchise fees. This omission indicates potential financial malpractice. SGF also applied for three GST numbers, two of which have been cancelled due to inactivity. The third, active in Mumbai, has not seen any returns filed since September 2021, raising questions about the purpose of GST collection from franchisees.<br/><br/>Kewal Ahuja's dual role as the Treasurer of BJYM Delhi Pradesh further complicates matters, as his political influence may impact investigations. Potential investors are strongly advised to reconsider investing in SGF due to these significant red flags and the company's track record of statutory non-compliance and financial irregularities.
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SGF (Spice, Grill and Flame) incorporated dated January 29th, 2019, with the main objective of providing food services and ancillary objective included the business activities related to this industry. According to the latest reports the billion-dollar sector of franchising in India is induced with scams and politics. SGF’s Kewal Ahuja is one among those franchisee owners who has grown up well in the franchising segment of business by cheating public in the name of franchising.
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T-Mobile Announces Deal , to Acquire Most of , U.S. Cellular .<br/>T-Mobile Announces Deal , to Acquire Most of , U.S. Cellular .<br/>On May 28, T-Mobile announced that <br/>it will acquire most of competitor <br/>U.S. Cellular in a massive $4.4 billion deal.<br/>ABC reports that the deal would give T-Mobile, <br/>already one of the largest wireless providers in <br/>the United States, an additional 4 million customers.<br/>ABC reports that the deal would give T-Mobile, <br/>already one of the largest wireless providers in <br/>the United States, an additional 4 million customers.<br/>The deal will also see T-Mobile acquire <br/>hundreds of brick-and-mortar stores <br/>and a wider presence in rural areas.<br/>The deal will also see T-Mobile acquire <br/>hundreds of brick-and-mortar stores <br/>and a wider presence in rural areas.<br/>The acquisition will also expand T-Mobile's <br/>spectrum rights, a federal license permitting <br/>the transmission of mobile signals.<br/>According to T-Mobile, the deal <br/>is expected to close sometime <br/>in the middle of 2025.<br/>As customers from both <br/>companies will get more <br/>coverage and more capacity <br/>from our combined footprint, <br/>our competitors will be forced <br/>to keep up -- and even more <br/>consumers will benefit, Mike Sievert, CEO of T-Mobile, via ABC.<br/>As customers from both <br/>companies will get more <br/>coverage and more capacity <br/>from our combined footprint, <br/>our competitors will be forced <br/>to keep up -- and even more <br/>consumers will benefit, Mike Sievert, CEO of T-Mobile, via ABC.<br/>T-Mobile added that U.S. Cellular <br/>will retain control of a portion of the <br/>company's spectrum rights and cellular towers. .<br/>According to T-Mobile, the deal will provide <br/>customers with more competitive options to the <br/>two largest U.S. wireless carriers: Verizon and AT&T.<br/>According to T-Mobile, the deal will provide <br/>customers with more competitive options to the <br/>two largest U.S. wireless carriers: Verizon and AT&T.<br/>By tapping into the additional <br/>capacity and coverage created <br/>through the combined spectrum <br/>and wireless assets, T-Mobile <br/>will spur competition, T-Mobile statement, via ABC.<br/>The news comes after a series of <br/>acquisitions for T-Mobile aimed at <br/>accelerating the wireless provider's growth
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Nvidia shares reached a record high of over $1,140.00 after reports that Elon Musk's AI company, xAI, will build a supercomputer requiring 100,000 semiconductors. xAI recently raised $6 billion in funding to develop products, infrastructure, and future AI technologies. The supercomputer is intended to compete with OpenAI and be operational by fall 2025. Nvidia's stock has more than doubled this year following strong earnings results. xAI may partner with Oracle to develop the supercomputer, sending Oracle shares up as well.
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ConocoPhillips , to Buy Marathon Oil.<br/>ConocoPhillips , to Buy Marathon Oil.<br/>On May 29, ConocoPhillips agreed to <br/>acquire Marathon Oil in an all-stock deal valued at $17 billion, CNBC reports.<br/>The agreement will provide ConocoPhillips with <br/>an additional 2 billion barrels of U.S. inventory.<br/>This acquisition of Marathon Oil further <br/>deepens our portfolio and fits within our <br/>financial framework, adding high-quality, <br/>low cost of supply inventory adjacent to our <br/>leading U.S. unconventional position. , ConocoPhillips CEO Ryan Lance, via statement.<br/>ConocoPhillips' market cap will <br/>exceed $150 billion due to the deal.<br/>As an independent producer, ConocoPhillips will now be on the same scale as some big-time players, CNBC reports.<br/>For example, the company will become larger than BP but still be smaller than Shell, according to Andrew Dittmar, M&A analyst at Enverus.<br/>For example, the company will become larger than BP but still be smaller than Shell, according to Andrew Dittmar, M&A analyst at Enverus.<br/>While the deal is likely to face FTC scrutiny, the fact that Marathon's assets encompass multiple basins supports regulatory approval, Dittmar said. .<br/>Once the deal is complete, <br/>ConocoPhillips anticipates share buybacks worth $7 billion within the first year.<br/>After three years, that number is <br/>expected to grow to $20 billion.<br/>ConocoPhillips' larger rivals, <br/>Exxon Mobil and Chevron, announced <br/>blockbuster deals as well last year.<br/>ConocoPhillips' larger rivals, <br/>Exxon Mobil and Chevron, announced <br/>blockbuster deals as well last year
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Melinda French Gates has announced that she will donate $1 billion over the next two years to support women and families globally, focusing on reproductive rights. In a New York Times opinion piece, she emphasized the need to advocate for women and girls, especially as many states in the U.S. are imposing growing restrictions on abortion. French Gates' decision was motivated by factors such as the racial gap in mortality rates for women and the rise in political violence and threats to women's safety. This announcement comes shortly after French Gates revealed her decision to step down as co-chair of the Bill and Melinda Gates Foundation.
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Rishi Sunak has unveiled a 2.4 billion pound tax break to help secure the support of pensioners in the forthcoming General Election. During a visit to a bowls club in Market Bosworth, Leicestershire, the Prime Minister promised to increase the income tax personal allowance for pensioners, giving them a tax cut worth around £100. Mr Sunak said “what I believe is if you work hard all your life you should have dignity in retirement.“ <br/> <br/> Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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