Until June 2018, the ICICI Bank board had given a clean chit to Kochhar with full backing and had said there was no question of favouritism, nepotism or conflict of interest on her part in granting loans to Videocon Industries or any other company. However, the stance changed soon after the regulatory and probe agencies initiated enquiry in the matter.
Sebi's move will help curb the illicit practice of keeping the parent company's account clean while maintaining debt in its subsidiaries.
The move is aimed at protecting investors from parking their money in dubious schemes.
75 companies can dole out Rs 1.1 trillion from the 'extra cash' to shareholders.
NSE's board was to approve on Friday the annual financial statement for the year ended March 31, 2019, but it decided to defer the matter till its legal team firmed up a view on Sebi's order, sources said.
Based on a feedback, the exchange could cap a sector's weight at 25 per cent, or align with the broader market.
If the BJP comes to power, sources say it may change the financial year (April-March) to the calendar year (January-December).
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
An assessing officer can initiate proceedings for prosecution from three months to two years, along with a fine.
The number of issues were the lowest since FY15, compared to 45 in FY18.
The tax department was given the land at Mumbai's posh location, measuring 2,786 square metre, with a minimum capacity of 100,000 sq ft, in 1992. Instead of constructing an office building, the department recently took a few floors on rent at the nearby Air India building.
A surge in foreign inflows is seen as the major reason behind the latest market surge.
The offering comprises secondary sale of 13.68 million shares, constituting 27.3 per cent stake.
CBDT asks for urgent action, especially with respect to recovery of arrears and current demand, to achieve the collection target.
The total direct tax collection stands at a little over Rs 9 trillion, giving the taxman just few days to reach the 2018-19 revised target of Rs 12 trillion., reports Shrimi Choudhary.
Experts say foreign investor sentiment was bolstered by the US Federal Reserve's decision to go slow with interest rate hikes and hopes of political stability.
The income-tax department has created various functionalities under its Project Insight, which will provide the 360-degree profile of taxpayers, including new and non-filers to gauge their accountability and tax liability. The tax department had on March 15 put out instructions for tax officials for accessing the insight.
SBI-led consortium expects to make over Rs 13,000 crore from sale of assets
India now has three companies in the global top 100 list in terms of market value: Reliance Industries (RIL) ranks 72, Tata Consultancy Services (TCS) is at 86 and HDFC Bank at 99.
In April last year, tax authorities had questioned Deepak Kochhar over a Rs 405-crore investment by Accion Diversified Strategies Fund through its Mauritius subsidiary, DH Renewables Holding
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