'To save the LTCG, it's always better that the owner of the property that was sold also becomes the title holder in the new one.'
The ED had filed an application before a special PMLA court seeking the 'fugitive' tag for Mallya under the Fugitive Economic Offenders' Act, 2018.
Google has also come under the scanner of competition watchdogs in other countries as well.
After considering the facts and circumstances of the case including enormity of the prima facie violations observed against Karvy, Sebi in an order passed late night Friday said it would not be prudent to allow the use of PoA by Karvy given to it by its clients.
In a setback to megastar Amitabh Bachchan, the Supreme Court on Wednesday allowed the Income Tax department to reopen a tax case against him pertaining to his income for the assessment year 2001-02.
It is a reinforcement of the principles and forthrightness that prevails in our judicial system, which should make all of us proud of our country and its democracy.
Jio had launched the inaugural free voice and data plan in September last year, and in December, extended the freebies till March 31, 2017
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
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Former Air India Executive Director Jitender Bhargava filed the appeal challenging the decision of the Competition Commission of India to clear the Jet-Etihad deal without carrying out a detailed assessment.
It said the petitioner could also approach Telecom Disputes Settlement and Appellate Tribunal with his plea.
The auditor of ABG Shipyard, which is being probed by the Central Bureau of Investigation (CBI) for the Rs 23,000-crore default to banks, had settled an investigation by the Securities and Exchange Board of India (Sebi) by paying a small settlement fee in 2019. The regulator had initiated an investigation into the fund diversion from ABG Shipyard and had asked the auditor to explain why it failed to detect fund diversion in time. In his settlement application, auditor MN Ahmed, partner of Nisar & Kumar, a chartered accountant firm, said he ceased to be an Indian citizen and has retired from the profession.
The total default is said to be in excess of Rs 3,000 crore - making this the largest default by a broker.
'We would love to have more players entering the market because that is how the business will grow.'
The National Company Law Appellate Tribunal (NCLAT) on Monday adjourned till February 25, the hearing on the plea of e-commerce major Amazon, seeking an interim stay over the order passed by fair trade regulator CCI, which suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL). When the matter was called for hearing, a two-member bench expressed its difficulties to take up the matter on Monday, as one of the members is retiring in the next four days, after completing his tenure. In this matter, NCLAT would also have to hear other parties such as fair trade regulator CCI, before passing an order and it would take some more time and then the retiring member would not be a part of the bench.
Setting aside Sebi's direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders' meeting on Tuesday to consider the proposed Rs 4,000 crore-investment by private equity firm Carlyle and others in the mortgage firm. However, results of the shareholders' voting will not be disclosed till further directions from the tribunal. The ruling comes hours after PNB Housing Finance informed stock exchanges that it has appealed against Sebi's direction on June 18 wherein it was asked to defer consideration of the proposed capital infusion proposal till a valuation of the company's shares is done by a registered independent valuer.
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India's largest private airline, which went bankrupt in 2019. Over the past three years, the airline went through an insolvency process under which JKC's resolution plan was approved by a committee of creditors (lenders) and the National Company Law Tribunal (NCLT) in October 2020 and June 2021, respectively. But this didn't mean an end to the problems.
'Individuals can consider dividing ownership of properties between related persons to ensure that the sale transactions are below the Rs 50 lakh limit and therefore not subject to TDS.'
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
The Supreme Court on Friday set aside NCLAT order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group.
Under the I-T Act, if a person has more than one property, one of them may be treated as given on rent even if it is vacant
Telecom companies with cases pending before the Telecom Dispute Settlement and Appellate Tribunal or those hoping to file new ones would be advised to hurry.
In a setback to telecom service providers, the Supreme Court on Thursday allowed the Centre's plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from them.
The Supreme Court Friday assured the home buyers of the to-be-razed 40-storey twin-towers of real estate firm Supertech in Noida that they will be refunded the full amount deposited with the builder. The apex court also asked the Interim Resolution Professional (IRP) of the firm, facing insolvency proceedings, to deposit Rs one crore with the apex court registry. The Supertech's 40-storey twin towers at Emerald Court Project of Sector 93A of Noida are scheduled to be razed on August 28.
Amazon has filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) suspension of the US e-commerce giant's 2019 deal with Future Retail (FRL). Amazon has challenged the CCI order on at least five grounds, and the matter is likely to be listed this week, according to the sources. Parallelly, Amazon's Indian unit has approached the Supreme Court against a halt on an arbitration case against Future Retail's (FRL) asset sale to Reliance Industries (RIL).
Jet Airways' cabin crew and ground staff have challenged the Jalan Kalrock consortium's resolution plan, which was approved by the National Company Law Tribunal (NCLT) in June, flagging concerns about pending salaries and retirement benefits. In their petition filed before the National Company Law Appellate Tribunal (NCLAT), the Jet Airways Cabin Crew Association and Bhartiya Kamgar Sena have submitted that dues of all workmen of the airline were not included as part of the Corporate Insolvency Resolution Process (CIRP) cost. In June, NCLT approved Jalan Kalrock Consortium's resolution plan for Jet Airways, which remains grounded for more than two years now.
Vodafone had contended in its plea that DoT instead of signing and executing the ULs had at the last moment informed them that their request for deletion of 'restrictive' clauses in licence pertaining to roaming cannot be accepted.
The Sunil Mittal led firm accused the regulator of "wrongly" holding Jio's promotional offer as compliant with the regulatory guidelines
Under the Vivad se Vishwas scheme, the MNCs will have to bring in disputed amount to India, else, the entire money will be considered as loan from subsidiaries on which interest will have to be paid.
Total number of tax disputes in SC cross 10,000
'We are really distressed. All of us are broken, shattered. Two years of hard work and crores of rupees have gone down the drain because of piracy.' The Great Grand Masti team speaks out.
The justice delivery system is struggling to cope, creaking at the joints and bursting at the seams. Indian courts have to deal with about 30 million cases with a judicial strength of just about 19,000 judges.
Allaying investors' fears, Franklin Templeton AMC has said Sebi's order prohibiting the company from launching new debt funds will have no bearing on existing schemes managed by it. Sebi on Monday barred Franklin Templeton Asset Management (India) from launching any new debt scheme for two years and imposed a penalty of Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees of over Rs 512 crore (including interest) collected with respect to the six debt schemes. This amount will be used to repay unitholders, as per Sebi order.
With the controversial Land Acquisition Bill pending for long, government on Tuesday made a strong pitch in the Lok Sabha for "some sort of understanding" on it, saying passage of the legislation is necessary to make land available for the programme of 'Housing-for-All' by 2020.
No promoter is allowed to advertise, market, book, sell or offer for sale, or invite persons to purchase any plot, apartment or building, in a project without registering with the authority.
The Securities Appellate Tribunal adjourned the hearing on RIL plea against SEBI in the insider trading case, for the fourth time in a row, to July 22 as the company sought more time to file its response.
The Competition Appellate Tribunal said the regulator relied on 'legally unsustainable' information downloaded from internet for nailing the BCCI.
The auditors -- the local arms of the Big Four global firms Deloitte Haskins & Sells and KPMG which has BSR & Associates as an affiliate here-had challenged the jurisdiction of the NCLT to ban them.
The NCLAT, in its December 18, 2019 order, had restrained the company, its board of directors and shareholders from exercising the power under the article against minority members except in exceptional circumstances and in the interest of company. A bench headed by Chief Justice S A Bobde dealt with this issue in its 282-page verdict which set aside the NCLAT's order that had restored Cyrus Mistry as the executive chairman of the USD 100 billion salt-to-software conglomerate.
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