Debt-ridden firm Reliance Capital on Monday objected to the proposed 33.12 per cent stake sale of Prime Focus Ltd (PFL) by Credit Suisse to PFL's promoter group at Rs 44.15 per share. Anil Ambani's Reliance Group company Reliance Capital in a statement termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group. However, Reliance Capital did not share the details of the "blatant abuse of the purported rights".
The Mumbai police has registered a case in the TRP scam and summoned Republic TV's chief financial officer S Sundaram for investigation.
The Kalrock-Jalan consortium - new owners of Jet Airways - has got an assurance from around 30 airports that if the airline restarts operations, 170 pairs of slots can be made available. However, whether those slots will be according to the airline's demand will depend on the order of the insolvency court, which is slated to come next week. Sources said the new management feels it is extremely important that some of those slots are restored or else its business plan of operating Jet as a premium carrier will not be viable.
Sebi on Friday imposed a penalty of Rs 50 lakh on Kotak Mahindra Asset Management Company (AMC) and barred the fund house from launching new fixed maturity plan (FMP) scheme for six months for violating regulatory norms. The markets regulator has directed the fund house to refund a part of the investment management and advisory fees collected from the unitholders of the six FMP schemes along with a simple interest at the rate of 15 per cent per annum. The case relates to the fund house's investment in certain FMPs. These FMPs of Kotak AMC had invested in Zero Coupon Non-Convertible Debentures (ZCNCDs) issued by Essel Group entities.
'Tax cuts will have only marginal effects in the short run and significant positive effects in the medium term,' says Shankar Acharya, former chief economic adviser to the Government of India.
INS Shivaji is an Indian Naval station located in the hill-town of Lonavala in Maharashtra's Pune district.
The PM, while addressing a rally in Wardha on April 1, had reportedly said, the opposition party was "scared" to field its leaders from constituencies where the majority dominates.
When Jet Airways shut operations, the slots which were allocated to it were temporarily distributed among various airlines. And, the airlines that were called upon to immediately create infrastructure so that the public at large does not face any hardship have invested huge amounts of money to created infrastructure to utilise such slots. "In view of this, though the allocation of slots to such airlines is temporary the same can't be withdrawn from them without any legitimate basis.", the affidavit said.
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In a reply in Lok Sabha to Congress MP Behanan Benny's question, the MHA added, 'However, two cases from Kerala involving inter-faith marriages have been investigated by the National Investigation Agency (NIA).'
The government on Thursday brought a bill in the Lok Sabha to withdraw all back tax demands on companies such as Cairn Energy and Vodafone and said it will refund the money collected to enforce such levies.
According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution.
Britain needs to control unskilled immigration, but extant rules dissuade even the 'best and brightest' of students that it seeks to attract.
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The EC also extended the silence period from 48 hours to 72 hours in each of the remaining three of the eight phases of the West Bengal polls to be held on April 22, 26 and 29.
Jammu and Kashmir and Odisha on Tuesday recorded their first cases of the Omicron variant of COVID as the count of the new strain in 14 states and union territories crossed 200 even as the Centre said there is a need to 'activate' war rooms, take 'pro-active' action and consider night curfews.
The affidavit further said that the IT Rules impose a host of obligations on a company in relation to the security of the data collected by it in the course of its business.
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
The uncertainty created by the jump in COVID-19 infections and localised lockdowns prompted RBI Governor Shaktikanta Das and other members of the rating setting panel MPC to unanimously vote for status quo in interest rates and an accommodative policy stance to support growth, as per minutes of the meeting released on Thursday. "The need of the hour is to effectively secure the economic recovery underway so that it becomes broad-based and durable," the Governor said during the three-day meeting of the Monetary Policy Committee (MPC) which ended on April 7. The renewed jump in COVID-19 infections in several parts of the country and the associated localised and regional lockdowns add uncertainty to the growth outlook, he observed, as per the minutes of the meeting released by the central bank.
"The PMJDY has been the foundation stone for the Modi government's people-centric economic initiatives. "Whether it is direct benefit transfers, Covid-19 financial assistance, PM-KISAN, increased wages under MGNREGA, life and health insurance cover, the first step was to provide every adult with a bank account, which PMJDY has nearly completed," Nirmala Sitharaman said on the sixth anniversary of the scheme.
The bank, however, did not disclose names of the candidates shortlisted for the post.
American analysts and their camp followers in India are talking absolute rubbish when they try to establish that India is facing a Hobson's choice in regard of Donbass, called upon to take sides between Russia and the West, asserts Ambassador M K Bhadrakumar.
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An initial audit report estimating Rs 10.67 lakh crore loss to the exchequer on account of allotment of coal blocks during 2004 to 2009 without auction caused an uproar in the Parliament and was described as "exceedingly misleading" by the CAG himself.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
Chit funds can accept subscription from NRIs on non-repatriation basis
The outstanding tax demand by the income tax department on the Board of Control for Cricket in India may go up to over Rs 860 crore, according to an RTI reply from the department.
The Reserve Bank of India (RBI) has clarified that loans which have remained standard without any defaults as of March 1, 2020, will be eligible for restructuring under the pandemic-related resolution framework issued in August.
'The unfortunate truth is that China, having exploited the initiative to seize pieces of India's claimed territory, can now hold on to its new acquisitions forever unless India chooses to eject Chinese troops by force or decides to impose tit-for-tat costs on China by symmetrically occupying other pockets in disputed territory where it possesses a tactical advantage'
Without naming the entity, he said some players are at a pre-clinical stage and may reach the clinical stage by October. Responding to a question on absence of a vaccine currently and the prospects in the next few months as the lockdown eases, VijayRaghvan emphasised on aggressive rapid testing and tracking.
The approvals would be handled independently by administrative ministries of different sectors.
These officers also have been divested of their current duties on charges of violating Rules 9 and 3(1)(xx) of the Central Civil Service Conduct Rules.
C P Chandrasekhar, who has served on key statistical panels in the past both as a chairman and member, said he was present in the campus when the ruckus broke out on Sunday and found the incident "disturbing" and "unprecedented", and that it further undermined the faith in the system. Somesh Jha reports.
Asked about the report, MEA spokesperson Anurag Srivastava said, "The political judgements of Freedom House are as inaccurate and distorted as their maps."
At the same time there were few complaints about the wrong reporting of credit information to the Credit Information Bureau (India) Ltd, which was taken up by the RBI with the concerned bank for redressal, minister of state for finance Namo Narain Meena told the house in a written reply.
With the Reserve Bank of India's (RBI's) draft reconstruction scheme for the troubled lender suggesting a permanent write-down of these bonds outstanding as of March 5, bondholders who have invested RS 10,800 crores are up in arms, reports Hamsini Karthik.
Satyajit Ray Film & Television Institute, Kolkata, invites applications for admission to its three-year, full-time post-graduate diploma course for the session 2007-2010.
Passengers who are disallowed from travelling on trains because of symptoms associated with the novel coronavirus will also receive full refund for their tickets, the railways has said.
The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
'We know that returning money to unitholders at the earliest is the first and most important step towards resurrecting our brand and regaining investor trust.'
