A 3D printing startup in Mumbai has been accused of not fulfilling its part of the deal in a crowdfunded project initiated by a Delhi-based content creator to provide equipment to frontline health workers.

In March, Kusha Kapila contacted Boson Machines (BM) to provide 3D printed face shields for medical personnel at an initially agreed price of R150, by raising Rs 900,000 on Ketto.

With an industry standard yet to emerge, there were a lot of debates between Kapila and BM over the price and the number of masks to be made for raised amount."We then settled on R19 lakh for 18,000 masks," said Kapila. "Even this meant that a shield would cost Rs 105, which was still higher than the price of other 3D printers. The price was again reduced to Rs 75, before they finally agreed to R60. At the same time, the fundraising goal was also increased to Rs 21 lakh. They already had orders and capacity for 14,500 masks and we wanted to help as much as we could."

Kapila’s tweet tagging Aaditya Thackeray where she called out Boson

Boson was paid around Rs 13 lakh for the 14,500 face shields, and the remaining money was with Ketto, to be paid after the second batch of shields were dispatched.

The story gets muddled at this point, with Kapila taking to Twitter on May 1, accusing the company of not honouring its commitment and claiming even Rs 60 per mask was steep.

"After many enquiries, and [BM co-founders and brothers] Arjun and Parth Panchal's consistent unavailability, they finally sent a cost breakdown that I forwarded to various industry experts for verification."

In another tweet, Kapila alleged BM charged more than market price. Both Kapila and Ketto also claim that BM had been evading their questions.

"As of today, suppliers charge anywhere between Rs 35 and Rs 50 for a shield of the same quality," Kapila told mid-day. "This suggests that BM is trying to profit off this fundraiser. Profiting off a pandemic is shameful and anti-national. For instance, the cost of the plastic frame is quoted as R80 and they could only justify Rs 27. That's a difference of Rs 53. Further, the visor cost is quoted as Rs 30, but we found out that a sheet costs Rs 8. The tally says BM has delivered 10,700 pieces but we don't know if this has actually happened. As of today, Boson owes [me and Ketto] Rs 6,76,000," Kapila said.

By this, Kapila means BM has to return her and Ketto R6,76,000 from the initial Rs 13 lakh paid, as per her calculations. "The last time I spoke to them, which is when we reached a price of Rs 60, they agreed to return the money but later said their CA would get in touch and have ghosted me since," said Kapila.

Parth Panchal. Pic/Facebook, Arjun Panchal. Pic/Twitter

BM claims it has already delivered 10,700 face shields to 19 hospitals and other institutions across the country, including Mumbai's Sion Hospital, Kasturba Hospital, KEM Hospital, Wadia Hospitals—and even the BMC.

In an email to mid-day, BM refers to Ketto Online Ventures Private Limited as the buyer, and not Kapila. "We are unaware of the role of Ms Kusha Kapila with the buyer, M/s Ketto Online Ventures Private Limited, and whether she is authorised to represent the company in commercial matters," it said.

BM also alleged Ketto owes them an outstanding R1,31,063 from the orders that they had already fulfilled.

"We have seen the statement put out by Boson and our legal team is taking necessary steps," said Varun Sheth, of ketto.org.

Catch up on all the latest Mumbai news, crime news, current affairs, and a complete guide from food to things to do and events across Mumbai. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

Can any subscriber old let me know how Profit Velocity & Peak Profit Alert is performing? Which one is better? I am planning to subscribe for one...

For the fourth quarter ended March 31, 2020, ICICI Bank reported a 26 per cent rise in net profit at Rs 1,221 crore compared to Rs 969 crore a year ago

US congressman Peter DeFazio (D-OR) has introduced legislation designed to amend the Tax Cuts and Jobs Act so that incentives for US corporations to shift income and production overseas are reduced.

On February 14, 2019, the General Court of the European Union annulled the European Commission's decision that the Belgian tax regime relating to the excess profit of multinational companies is contrary to EU law.

Hong Kong published two bills in its Official Gazette on December 29 to introduce provisions to counter base erosion and profit shifting and to alter its business tax regime.

Hong Kong has gazetted an ordinance to establish a new two-tier corporate tax regime from April 1, 2018.

OECD governments have committed to stepping up their efforts to tackle base erosion and profit shifting (BEPS) by endorsing the OECD's BEPS Declaration at the Organisation’s annual Ministerial Meeting in Paris.

National tax laws have not kept pace with the globalisation of corporations and the digital economy, leaving gaps that can be exploited by multi-national corporations to artificially reduce their taxes.

Public comments are invited on the discussion draft on the use of profit splits in the context of global value chains, released as part of the work in relation to Action 10 of the BEPS Action Plan.

On 16 December 2014, the OECD invited comments from interested parties on a discussion draft on the use of profit splits in the context of global value chains. This work relates to Action 10 of the BEPS Action Plan. The OECD is grateful to the commentators for their input, and now publishes the comments received.

Representatives of more than 80 countries and jurisdictions have gathered in Kyoto, Japan to push forward ongoing efforts to update international tax rules for the 21st century, the latest step in the OECD/G20 Project to tackle Base Erosion and Profit Shifting (BEPS).

Public comments are invited on discussion drafts on "Attribution of Profits to Permanent Establishments" which deals with work in relation to BEPS Action 7 and on the "Revised Guidance on Profit Splits" which deals with work in related to BEPS Actions 8-10 of the OECD/G20 BEPS Action Plan.

Public comments have been received on the BEPS discussion drafts on the Attribution of Profits to Permanent Establishments and the Revised Guidance on Profit Splits.

Public comments are invited on two discussion drafts: Attribution of Profits to Permanent Establishments, which deals with work in relation to Action 7 of the BEPS Action Plan and the Revised Guidance on Profit Splits, which deals with work in relation to Actions 8-10 of the BEPS Action Plan.

The OECD is publishing the comments received on a discussion draft on the Attribution of Profits to Permanent Establishments (BEPS Action 7) and on a second discussion draft on the Revised Guidance on Profit Splits (BEPS Actions 8-10).

The additional guidance resulting sets out high-level general principles, which countries agree are relevant and applicable in attributing profits to PEs in accordance with applicable treaty provisions. It also provides examples on the attribution of profits to certain types of PEs arising from the changes to the PE definition under BEPS Action 7.

Building on BEPS Action 4, this practice note has been prepared by the OECD under a programme of co-operation with the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF), to help guide tax officials on how to strengthen their defences against BEPS. Deadline for comment: 18 May 2018.

Today, the OECD released two reports containing Guidance for Tax Administrations on the Application of the Approach to Hard-to-Value Intangibles under BEPS Action 8; and Revised Guidance on the Application of the Transactional Profit Split Method under BEPS Action 10.

OECD's Adrian Blundell-Wignall explains why clean energy projects are not attracting investors despite the availability of fund for investment. This paper was presented at a high-level breakfast event on institutional investors and the low-carbon transition hosted by the OECD Secretary-General during COP21 on 9 December 2015.

OECD's Adrian Blundell-Wignall explains why clean energy projects are not attracting investors despite the availability of fund for investment. This paper was presented at a high-level breakfast event on institutional investors and the low-carbon transition hosted by the OECD Secretary-General during COP21 on 9 December 2015.

Corporate Profits in Czech Republic increased to 323281 CZK Million in 2017 from 308944 CZK Million in 2016. Corporate Profits in Czech Republic averaged 197864.92 CZK Million from 1997 until 2017, reaching an all time high of 328392 CZK Million in 2015 and a record low of -2717.06 CZK Million in 1997. This page provides - Czech Republic Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Corporate Profits in Denmark increased to 282297 DKK Million in 2017 from 269838 DKK Million in 2016. Corporate Profits in Denmark averaged 169636.07 DKK Million from 1995 until 2017, reaching an all time high of 282297 DKK Million in 2017 and a record low of 45386 DKK Million in 1996. In Denmark, Corporate Profits represents the level of profit or loss in the business accounts sector covering construction and retail trade from 1994 at enterprise level (i.e. for legal units, such as corporations and sole traders) and at establishment (workplace) level from 1995. Manufacturing Industries were then included in the coverage from 1995, wholesale trade from 1998, and the remaining part of the service industries from 1999. This page provides - Denmark Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Corporate Profits in the United Kingdom decreased to 113724 GBP Million in the fourth quarter of 2019 from 114104 GBP Million in the third quarter of 2019. Corporate Profits in the United Kingdom averaged 36869.28 GBP Million from 1955 until 2019, reaching an all time high of 115312 GBP Million in the first quarter of 2019 and a record low of 1024 GBP Million in the first quarter of 1955. This page provides the latest reported value for - United Kingdom Corporate Profits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Corporate Profits in Germany increased to 179.67 EUR Billion in the fourth quarter of 2019 from 174.78 EUR Billion in the third quarter of 2019. Corporate Profits in Germany averaged 136.82 EUR Billion from 1991 until 2019, reaching an all time high of 188.02 EUR Billion in the second quarter of 2016 and a record low of 92.45 EUR Billion in the second quarter of 1991. This page provides the latest reported value for - Germany Corporate Profits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Corporate Profits in Canada decreased to 88863 CAD Million in the fourth quarter of 2019 from 91041 CAD Million in the third quarter of 2019. Corporate Profits in Canada averaged 36040.09 CAD Million from 1988 until 2019, reaching an all time high of 97553 CAD Million in the second quarter of 2017 and a record low of -758 CAD Million in the fourth quarter of 1992. This page provides - Canada Corporate Profits - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Corporate Profits in Australia decreased to 94066 AUD Million in the fourth quarter of 2019 from 97430 AUD Million in the third quarter of 2019. Corporate Profits in Australia averaged 46897.81 AUD Million from 1994 until 2019, reaching an all time high of 98032 AUD Million in the second quarter of 2019 and a record low of 12032 AUD Million in the first quarter of 1995. In Australia, corporate profits refers to the net operating profit or loss before income tax and extraordinary items and is net of capital profits or losses arising from the sale of businesses' own capital goods and dividends received. This page provides the latest reported value for - Australia Corporate Profits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Corporate Profits in Japan increased to 18575.90 JPY Billion in the fourth quarter of 2019 from 17323.17 JPY Billion in the third quarter of 2019. Corporate Profits in Japan averaged 6562.86 JPY Billion from 1954 until 2019, reaching an all time high of 26401.12 JPY Billion in the second quarter of 2018 and a record low of 43.24 JPY Billion in the third quarter of 1954. Corporate profits in Japan refer to the level of ordinary profits reported by all incorporated businesses in Japan except for Finance and Insurance sector. Ordinary profits are calculated as operating profits plus non-operating revenues less non-operating expenses. This page provides - Japan Corporate Profits - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Corporate Profits in the United States increased to 1868.66 USD Billion in the third quarter of 2019 from 1857.53 USD Billion in the second quarter of 2019. Corporate Profits in the United States averaged 494.46 USD Billion from 1950 until 2019, reaching an all time high of 1873.90 USD Billion in the third quarter of 2018 and a record low of 14.67 USD Billion in the first quarter of 1951. Corporate profits represents the portion of the total income earned from current production that is accounted for by U.S. corporations. It is one of the most closely watched U.S. economic indicators, as it provides a summary measure of corporate financial health and thus serves as an essential indicator of economic performance. This page provides the latest reported value for - United States Corporate Profits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Corporate Profits in China increased to 781450 CNY Million in March from 410700 CNY Million in February of 2020. Corporate Profits in China averaged 1709740.30 CNY Million from 1996 until 2020, reaching an all time high of 7518710 CNY Million in December of 2017 and a record low of 1617 CNY Million in February of 1998. In China, corporate profits refer to total profits of all state-owned industrial enterprises and non-state-owned industrial enterprises with the annual sales revenue above 5 million yuan. This page provides - China Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Corporate Profits in Poland increased to 169652.90 PLN Million in the fourth quarter of 2019 from 133466.20 PLN Million in the third quarter of 2019. Corporate Profits in Poland averaged 65927.95 PLN Million from 1998 until 2019, reaching an all time high of 169652.90 PLN Million in the fourth quarter of 2019 and a record low of 8747 PLN Million in the first quarter of 1999. This page provides - Poland Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Corporate Profits in Russia increased to 1847.40 RUB Billion in February from 1238.70 RUB Billion in January of 2020. Corporate Profits in Russia averaged 5001.74 RUB Billion from 2010 until 2020, reaching an all time high of 15758.40 RUB Billion in December of 2019 and a record low of -224 RUB Billion in January of 2015. Corporate Profits in Russia is balanced financial result (profit minus loss) of organizations, excluding small businesses, banks, insurance companies and budgetary institutions. Corporate Profits is cumulative value. This page provides - Russia Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Corporate Profits in Estonia decreased to 756224.20 EUR Thousand in the third quarter of 2019 from 816564.90 EUR Thousand in the second quarter of 2019. Corporate Profits in Estonia averaged 628363.47 EUR Thousand from 2002 until 2019, reaching an all time high of 923825.90 EUR Thousand in the third quarter of 2013 and a record low of 149443.20 EUR Thousand in the first quarter of 2009. This page provides - Estonia Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Internet orders and cargo plane demand could help DHL-owner meet €5bn operating profit goal

PageGroup and Robert Walters cite Brexit, Sino-US trade war and Hong Kong protests

Even without scale, the fake meat industry is challenging the economics of its blood and guts rivals.

Rising number of low-paid staff are contracting Covid-19 or leaving posts as death toll mounts

With a matter of days until the deadline, presenter Claer Barrett discusses the practicalities of making a claim online with the FT's Money Mentor Lindsay Cook. Plus, how to build effective money habits, and the growing NHS pensions row. 

See acast.com/privacy for privacy and opt-out information.

During Syria's eight year civil war, around half a million Syrians have lost their lives and many more have lost their livelihoods. But a few individuals have made millions by helping the Assad regime. Chloe Cornish has been investigating and she tells Josh Noble about some of Syria's war profiteers.

Contributors: Josh Noble, weekend news editor, and Chloe Cornish, Middle East correspondent. Producers: Fiona Symon and Persis Love

See acast.com/privacy for privacy and opt-out information.

Grounding of aircraft around the world due to coronavirus crisis takes toll on UK aero-engine maker

‘Drastic revisit’ of outlook at French bank as dividend cuts and cancellations hit equities trading

UK lender is latest to warn coronavirus-induced economic disruption will hit its clients

FTSE 250 housebuilder also takes charge for fire safety review after Grenfell tragedy