The Income-Tax department will have a say in mergers, demergers and amalgamations in 2006-07, with the Registrar of Companies (RoC) referring the first set of cases for clearance to the department.
The move comes nearly a month after it acquired five per cent in the National Stock Exchange.
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
The government is planning a slew of amendments to the Securities and Exchange Board of India (Sebi) Act in the forthcoming Budget session.
A new wave of e-trading in partnerships with private broking houses is getting popular with banks in recent times.
Following the AMFI approval, these entities would be given the clearance by CDSL Ventures Ltd, the nodal agency for MIN issuances.
Sources close to the developments said the company would announce the deal any day. Morgan Stanley is advising Standard Chartered on the deal.
Pharmaceutical is one of the key theme for 2007 at brokerage houses such as Religare Securities, Angel Broking and Pranav Securities.
London's AIM, Chinese and Korean exchanges interested.
International Finance Corporation, the private equity venture of the World Bank Group, DEG, one of the largest European development finance institutions, are eyeing a stake in State Industrial Corporation of Maharashtra.
After the National Stock Exchange, the focus has now shifted to stake sale soon in two depositories, the National Securities Depository and the Central Depository Services.
In a major development on taxation of FII income, the Authority on Advance Ruling has ruled that income will now be taxed as capital gains and not business income.
According to market sources, it has been observed that most companies are filing claims under short-term capital gains, irrespective of the volume of transactions.
The Bombay Stock Exchange is learnt to have shortlisted London, Nasdaq, Deutsche Borse, New York, and Singapore stock exchanges for the proposed sale of its 26 per cent stake.
Funding from banks for capital market players has become highly restrictive with the recent squeeze in liquidity and the interest rates charged have also sharply increased.
With the deadline for furnishing details of permanent account number lapsing on December 31, a quarter of the 98.5 lakh (9.85 million) demat accounts will be frozen from January 1.
Fund houses' tie-ups with the postal department for marketing their schemes through post offices are yet to take off in a bigger way.
The Tokyo-based Shinsei Bank is all set to foray into the Indian mutual fund business by forming a joint venture asset management company with Andhra Bank.
The corporate sector and banks will henceforth have the onus of deciding the fate of their debt for tax treatment, with their decision binding on the department, going by a recent order of the Mumbai tribunal.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances