Assets owned by deregistered firms under lens

Private sector lender Yes Bank on Thursday reported a net profit of Rs 1,002.73 crore in the second quarter of the fiscal, up about 25 per cent year-onyear. The bank's net profit was at Rs 801.54 crore in the same quarter a year ago. In a regulatory filing, it said the Net Interest Income increased to Rs 1,885.1 crore in the July quarter of the fiscal. The 33.5 per cent increase in NII was driven by "steady growth in advances and CASA and expanding margins", it said. L&T Finance Holdings (LTFH) Thursday said its consolidated profit increased to Rs 360 crore for quarter ended September 2017, registering a growth of 45 per cent year-on-year. This growth in profit after tax has been achieved after taking accelerated credit cost of Rs 277 crore, the company said. Its Gross Non-Performing Asset (GNPA) increased marginally Jubilant FoodWorks Thursday reported over two-fold increase in standalone net profit at Rs 48.47 crore for the second quarter ended September 30, helped by increase in same store sales growth of Domino's Pizza. Same store growth refers to the yearover-year growth in sales for restaurants in operation for 2 years. Retail chain Shoppers Stop Thursday reported a standalone net loss of Rs 21.80 crore for the second quarter ended September 30 on account of lower sales and exceptional loss. The company had posted a net profit of Rs 10.68 crore in July-September quarter a year ago. Total income stood at Rs 843.65 crore during the quarter under review, down 12.30 per cent as against Rs 962.01 crore in the year-ago period, Shoppers Stop said in a BSE filing. The corporate affairs ministry Thursday asked states to complete identification of properties owned by deregistered companies at the earliest and ensure district administrations prevent transactions in those assets. Amid intensifying efforts to fight the black money menace, the ministry has also urged the states to initiate disciplinary action against the officials concerned in case such transactions go through.

The names of around 2.25 lakh companies which have not been carrying out business activities for long have been struck off the official records and a number of directors associated with such firms have been disqualified. Against this backdrop, Minister of State for Corporate Affairs P P Chaudhary Thursday held a review meeting with representatives from various states on action taken with respect to properties belonging to around 2.09 lakh deregistered companies.

During the meeting, Chaudhary asked the states' representatives to complete the process of