India has historically not had a strong compliance mechanism around insider trading. This is in stark contrast to developed countries.
Courts in five countries including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc - a step that now opens the possibility of the British firm seizing Indian assets in those countries if New Delhi does not pay, sources said. Cairn Energy had moved courts in nine countries to enforce its $1.4 billion arbitral award against India, which the company won after a dispute with the country's revenue authority over a retroactively applied capital gains tax. Of these, the December 21 award from a three-member tribunal at the Permanent Court of Arbitration in the Netherlands has been recognised and confirmed by courts in the US, the UK, Netherlands, Canada and France, three people with knowledge of the matter said.
The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
The defence minister has to correct a major asymmetry. Will his discipline come in the way?
'If a 'two-front war' develops, Iron Brother may only turn out to be a drag on the PLA, since Pakistan is in no position to wage a war with India,' argues Ambassador M K Bhadrakumar.
The time is ripe to extend the confrontation with the Chinese to the maritime domain, says former RA&W officer Krishan Varma.
The apex body also wants to bring in systemic reforms, especially to redress grievances of the small taxpayers such as - increased automation of the processes, e-filing, centralised processing of the tax returns and other bulk operations.
The Bengaluru-headquartered company said the 'draft assessment order' from tax authorities for 2008-09 fiscal has arised primarily due to denial of deduction under section 10A of the Income Tax Act, 1961, in respect of profit earned by its undertaking in the Software Technology Park at Bengaluru.
Consumer loans or personal continue to record the highest fraud incidence.
The government has sent show-cause notices to 5 telecom firms including Reliance Communications and Tata Teleservices for alleged understatement of revenues of over Rs 10,000 crore.
'If you are a smoker, you should not provide misleading information to the insurer about your smoking habit in the insurance proposal form,' advises Pankaj Razdan.
A realistic assessment will tell us that not much has changed between India and Pakistan; the relationship remains as fraught as before with little prospect of reconciliation, notes Ajai Shukla.
The political-electoral calculus favours spending thousands of crores on vanity projects like Sardar Patel's statue and the Central Vista over building up our military to handle the confrontations and conflicts that loom large, points out Ajai Shukla.
The two remaining India-South Africa ODIs in Lucknow and Kolkata were on Friday called off owing to the coronavirus pandemic after the visiting players "expressed unwillingness" to continue in view of the rising positive cases in the host country. The game in Lucknow was scheduled to be held on Sunday, while the Kolkata ODI was meant to be on March 18.
'It was unfair to expect him to continue to keep on supplying vaccines without being given a firm commitment or a financial grant of any sort.'
The land acquisition, the consolidation process in Kot and a slew of other decisions by the Haryana government to open the hills to privatisation and commercial activity run contrary to court orders, environmentalists' demand, and at times the Union government's measures to protect the Aravalli hills, say Nitin Sethi & Kumar Sambhav Shrivastava.
India's Internet economy has two choices: An immediate $30 billion Sale-and-Leaseback or a $3 trillion value harvesting over decades, observes Vibhu Arya.
At the heart of the disagreement is a 1,000-acre land parcel, part of the 3,400 acres owned by the family in Vikhroli, a northeastern suburb of Mumbai.
On October 18, the apex court had directed Karnataka to keep supplying Tamil Nadu with 2,000 cusecs of water till further orders.
This property has all the hallmarks of being owned and occupied by Vijay Mallya. A fleet of supercars making their way down the drive, hordes of people descending to party all night long and a constant delivery of goods and services.
Airtel, Vodafone-Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore following the Supreme Court order last week that sent shock waves through an industry already grappling with billions of dollars in debt and an intense tariff war to retain customers.
Ahead of the annual session of the United Nations General Assembly, India on Monday said its focus at the high-level meeting will be terrorism, UN Security Council reforms, managing the global financial system, Palestine and piracy.
E-commerce giants such as Amazon, Netflix and Flipkart, whose headquarters are not in India, potentially have to pay the additional levy of 2 per cent from April 1.
The relationship between the Singh brothers, erstwhile promoters of Fortis Healthcare, went sour after allegations of fund diversion from the healthcare chain emerged.
Siva group defaulted on payment in 2016 and is also facing CBI investigation
Sushma Swaraj passed away into the ages on Tuesday night after suffering a massive cardiac arrest. Paying tribute to her, Prime Minister Narendra Modi said she was a prolific orator and outstanding Parliamentarian. As we mourn her loss, here's a look at the most memorable quotes from her address at the 73rd session of the United Nations General Assembly in September 2018.
News of all that's transpired on and off the football field.
Payment aggregators should have a minimum net worth of Rs 100 crore and if they don't manage to arrange that money within one year of putting out final guidelines, they should stop doing their business, says central bank's draft paper.
Regarding the applicability of stamp duty on redemption of mutual fund (MF) units, Sebi said, "Redemption is not liable to duty as it is neither a transfer nor an issue nor a sale." However, switching in mutual fund would attract stamp duty. "The issue of fresh units in the switched scheme would attract stamp duty even though there is no physical consideration paid or transfer of ownership," Sebi said.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
German Chancellor Angela Merkel and French President Nicolas Sarkozy could not resolve their differences over further boosting the European Financial Stability Facility, recapitalisation of European banks heavily exposed to sovereign debts and a partial write-down of Greek government's debts at a two-hour emergency meeting in Frankfurt on Wednesday night.
Complaints to NCM fall down sharply...4,000 Indian women deserted by NRI husbands since 2016...79 districts in India still don't have blood banks...
Ambani's holding group launched the Indian Super League, an elite competition of newly created teams, in 2014 with the aim of attracting investment and big global names, much like the Indian Premier League has in cricket. 'It was 100% a wasted opportunity'.
This is a moment when the leaders at the Centre and states must show true leadership for the sake of the country. And it is the top political leaders, not attorney generals or bureaucrats, who should be sitting together and settling this thorny issue of compensation, says Arvind Subramanian, former Chief Economic Adviser to the Government of India.
A 61-year-old doctor was shot dead at his clinic in south-west Delhi's Palam area by an unidentified assailant, police said on Saturday.
Putin said India was facing a serious problem on account of terrorism and it was not an "imaginary thing".
The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said.
The Indian Navy has deployed a range of its frontline warships and submarines in the Indian Ocean region to send a clear message to China following the escalation of the border dispute in eastern Ladakh.
Interior Minister Hans Peter Friedrich caused a stir ahead of the vote by openly calling for a 'voluntary exit' of Greece from the Euro zone.
'If your loan application gets turned down by one bank, do not apply immediately to several others.' 'This makes you appear credit hungry and possibly in some form of financial distress.' 'Multiple enquiries affect your credit score adversely,' advises Mohan Jayaraman.
