The ministry of corporate affairs - under new minister Murli Deora - has reopened for further investigation the cases of two companies allegedly involved in the unravelling 2G scam. A senior official said that the ministry was currently probing Swan Telecom and Loop Telecom.
Daiichi Sankyo, Japan's third-largest drug maker, has transferred six of its early drug discovery programmes in inflammatory and infectious diseases from its Japanese research & development (R&D) facilities to India.
The government may have to wait a little longer to get a trail of illegal money stashed by Indians in Liechtenstein.
Despite all official assurances, the path towards a free trade agreement (FTA) between India and the European Union (EU) this year remains ambiguous, as both sides are unwilling to relax their stand on the biggest stumbling block - the issue of "data exclusivity".
Finance Minister Pranab Mukherjee and other finance ministry officials have reached the last leg of pre-Budget consultations.
The domestic drug industry has expressed serious concern over the central government's decision to make it mandatory to carry a barcode on every medicine pack meant for exports from July 1.
After increasing the direct tax collections target in 2010-11 by Rs 20,000 crore (Rs 200 billion), the finance ministry now plans to raise the indirect tax receipts by at least Rs 10,000 crore to Rs 3,25,000 crore (Rs 100 to Rs 3,250 billion) for the same period.
The move is aimed at freeing up about Rs 3 lakh crore (Rs 3 trillion) in tax value locked up in appeal.
They've proposed a sub-committee under the proposed GST Council or the Empowered Committee of State Finance Ministers to resolve any disputes in the tax's implementation.
Parliament's Standing Committee on Finance has criticised the government for not doing a review of the tax exemptions given to Special Economic Zones (SEZs) and an evalutation of the losses due to these.
The Institute of Company Secretaries of India (ICSI) has pulled up the company secretaries of two telecom companies whose names have been mentioned in the Comptroller and Auditor General's (CAG's) report on the controversial allotment of airwaves. The two officials named in the report are Hari Nair, representing Swan Telecom, and Vidyadhar Chakradeo, the company secretary of Loop Telecom.
The numbers are the highest ever in the history of domestic drug discovery initiatives triggered by companies such as Dr Reddy's and Ranbaxy over a decade ago.
The Drugs Controller General of India, the apex drug regulator, has included a new clause in the trial approval letters, making these firms also accountable for any possible adverse event.
If a foreign company pays interest on loan for carrying out operations in India it will be allowed tax exemption under the Income Tax Act, 1961, a tax tribunal has ruled.
The ruling, in favour of the government, will protect over Rs 1,000 crore (Rs 10 billion) of revenue the tax department was expecting from the service.
The Central Drugs Standard Control Organisation (CDSCO), the apex drug regulator, may soon ban the production and sale of three medicines in the country. The drugs - cisapride, phenylpropanolamine (PPA) and human placenta extracts - have been controversial medicines for their alleged adverse reactions for several years now.
The eight-member expert committee, which is in charge of revising NLEM, plans inclusion of new drugs to the list and also do away with the current practice of including only specific strengths of medicines in NLEM.
Godrej Agrovet Ltd, the agri-business arm of leading conglomerate Godrej Ltd, plans to enter the dairy farming business. The company is in talks with at least two leading Israeli dairy farm technology providers.
Rollout likely to be pushed to next financial year.
Among a host of things, the Centre is planning to empower stock exchanges to collect the duty and pass it on to the states. This will be a major shift from the existing structure where states directly collect the duty, whose rate varies from one state to another.
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