The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
RInfra's plan to lease out headquarters property may face legal hurdle. Moreover, PE players with balance sheets that can take on Reliance Centre Office in Santacruz would be limited and include a handful of players such as Blackstone group, GIC, Brookfield Asset Management and Maplewood Investments.
The Tax Administration Reform Commission submitted report to Jaitley in June 2014.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
After hearing the petition, filed by the country's largest real estate developer last week, the Tribunal adjourned the matter till October 30 next week, as it sought a response from capital markets regulator Securities and Exchange Board of India on DLF's plea for an interim relief.
NCLT in its judgement said: "The removal of Cyrus Mistry as executive chairperson was because the board lost confidence and not because they were contemplating that he would cause discomfort to Ratan Tata, N Soonawala and others.' "The Board is competent to remove an executive chairman. Mr Mistry's removal from the position of director came because he admittedly sent out company information to the I-T (department), press, and came out in public against the board and the trust."
A Sebi spokesperson did not respond to an email seeking comments.
The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
If you are merely letting out the property and enjoying the rent as an individual or as a company, in most cases, you will need to mention rental income under the head 'income from house property' in the income-tax return form, points out Tinesh Bhasin.
Sebi has asked exchanges to appoint independent auditors to conduct forensic audit of these firms for verification, including their credentials/financials.
Called Signature Villa, the property was gifted to him by Nakheel Public Joint Stock Company. The dispute was over whether this was a gift or payment for services Khan had rendered to the company.
The apex court said Ambani and the others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks. A bench comprising Justices R F Nariman and Vineet Saran said if the 'contemnors' failed to make the payments within the specified period, they will undergo a jail term of three months.
The Tamil Nadu government had, on May 28, ordered the state pollution control board to seal and "permanently" close the mining group's copper plant following violent protests over pollution concerns.
Sebi on Monday imposed a penalty totalling Rs 15 crore on senior officials of Franklin Templeton AMC and its trustee for violating regulatory norms in the case of winding up of six debt schemes in 2020. However, a spokesperson of Franklin Templeton said they disagree with the findings in Sebi's order and intend to file an appeal with the Securities Appellate Tribunal (SAT). A fine of Rs 3 crore has been levied on Franklin Templeton Trustee Services Pvt Ltd and Rs 2 crore each on Franklin Asset Management (India) Pvt Ltd President Sanjay Sapre and its chief investment officer Santosh Kamat, according to the Sebi order. In addition, the regulator imposed a penalty of Rs 1.5 crore each on fund managers -- Kunal Agarwal, Pallab Roy, Sachin Padwal Desai and Umesh Sharma -- as well as former fund manager Sumit Gupta.
The CAG report, tabled in Parliament, states the interest on the short payment stood at Rs 1,052.13 crore for the period up to March 2016.
CCI had imposed a penalty of Rs 630 crore on DLF in August 2011.
Auto and index heavyweights Reliance Industries and ITC were the top losers in early trades.
Ahead of the film's release, the godman addressed the media in Mumbai to clear the air about any misapprehension.
58-year old Vinod Hingorani had defaulted on penalties of Rs 1.64 cr
A Parliamentary Committee on Wednesday recommended a composite foreign investment cap of 49 per cent in the insurance sector and supported a government Bill to amend the Act.
The SC said there were enough guidelines to be followed by the censor board to grant certification of a film before its release
DLF was asked to file an affidavit in this matter by Monday, after which SAT would issue directions on Wednesday (November 5) on whether the interim relief can be given.
India's most heavily indebted property firm, DLF has filed an appeal with the Securities Appellate Tribunal (SAT) against a ban from tapping capital markets for three years, a spokeswoman for the appellate told Reuters.
I-T dept has asked for Rs 5,357 crore ($865 million) alleging the company had suppressed its revenue for FY09 to evade taxes
The Act envisages that the states and Centre will formulate specific rules for real estate regulation.
Maharashtra Cabinet undecided over providing subsidy to private utilities.
Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
Pawan Ruia has finally done it, a beaming Buddhadeb Bhattacharjee, then West Bengal chief minister, had said at the reopening of the 70-year-old Sahagunj factory owned by Dunlop in 2005. But with the Calcutta high court passing a winding-up order in 2013 and the Trinamool Congress-led state government passing a Bill to take over the company in 2016, the once-upon-a-time undisputed leader in the Indian tyre industry looks vastly undone. But that can hardly be a deterrent for Ruia, who has a penchant for making headlines one way or the other.
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At the last hearing on October 11, SAT had suggested to Sebi to look at considering the RIL application for a consent settlement that allows companies and individuals to settle disputes by paying a fine without admission or denial of the alleged wrongdoing.
The case relates to development and sale of residential units in Gurgaon.
'That would once and for all teach all the film-makers of this country a fitting lesson!'
Members of various organisations on Friday held protests at Ambala in Haryana and Delhi against the proposed screening of controversial film Messenger of God featuring Dera Saccha Sauda chief Gurmeet Ram Rahim Singh in the lead role.
In a relief to actor Shah Rukh Khan, the Income Tax Appellate Tribunal has overturned an order of the tax authorities to add Rs 2.28 crore he had lent his wife as interest free loan to buy flat and jewellery to his net wealth.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
They just wanted their angst noticed, and as a symbol of recognition, Jallikattu, restored without the annual ritual of court cases and adjournments, explains N Sathya Moorthy.
Besides LTCG tax relief, permitting taxpayers to declare two houses as self-occupied brings a huge relief.
Sebi to fix promoters' side deals with PE investors
Sahara Chief Subrata Roy, who has been in jail for the last four months, on Thursday pleaded before the Supreme Court to allow him parole for at least 40 days to sell his properties to raise Rs 10,000 crore to get bail and expressed his willingness to dispose of luxury hotels in New York and London.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
Karvy Computershare Pvt Ltd engaged in fraudulent activities with respect to certain initial public offerings in 2005, market regulator Sebi said.
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