UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a USD 1 billion refund resulting from the scrapping of a retrospective tax law.
Despite slowing down, China and India continue to contribute more than half of the world's economic growth, a new report by an investment management and advisory services firm has claimed.
Snapdeal has a number of shareholders including Ontario Teachers' Pension Plan, PremjiInvest, Ratan Tata, Foxconn, Temasek and BlackRock, among others.
Anup Maheshwari, executive vice-president and head of equities & corporate strategy, DSP BlackRock, says the long-term attractiveness of investing in India remains intact.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
Buying units of international feeder funds is no different from buying any mutual fund unit.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
Chinese e-commerce giant Alibaba has received anti-trust regulator CCI's approval for buying 4.14 per cent stake in Snapdeal.
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Fund houses bet on growth, divestment and deregulation.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
We have a great team and they are quality people with decades of experience. Everyone would like to retain them, says Hemendra Kothari, Chairman, DSP Merrill Lynch.
Gold funds have returned -5.2 per cent, while the Sensex is down 7 per cent in the past year.
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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
'It could tempt investors to pick stocks that are not fundamentally sound.'
Bjorn Borg and Roger Federer will team up for the showdown of champions at the exhibition event on the BlackRock Tour of Champions.
Mahindra MF, which began operations in July 2016, is currently a bit-player and placed 31 among 42 fund houses, with assets under management of about Rs 4000 crore
They help diversify portfolio and are less risky.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
This came even as the airline recorded the fastest domestic passenger growth rate of 26 per cent.
As per market estimates, the new round would value the city-based firm at about $ 4-5 billion.
The task force will look at emerging markets, technology, regulatory and monetary policies, loss of trust in financial services, and financial inclusion.
Worst performers among category funds, but beat sectoral indices
The placement season has brought in positive cheer for students at the IIT Kharagpur this year.
Snapdeal to acquire GoJavas for Rs 200 cr, say sources.
US-based global technology giant IBM expressed keen interest in participating in India's newly-launched initiatives like Smart Cities and Digital India.
It is best not to get carried away by returns or take a short-term view of the markets, says Bhavana Acharya.
'Institutional ownership, by December 2018, had increased 37.5% from approximately 22% in early 2009,' points out Amit Tandon.
Months after making history by winning America's Got Talent, Mumbai's V Unbeatable dancing crew is crumbling under the lockdown.
Snapdeal, which has raised about $400 million since its inception, has invested about $100 million in logistics and operations to expand its presence in the $3 billion Indian eCommerce market.
As Prime Minister Narendra Modi visits US, fund managers from India and abroad expect improving sentiments and impressive returns from Indian markets to help attract billions of dollars flowing into the country's asset management industry.
LIC is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
Classically, the Japanese - who are not guided by short-termism - added capacity during slumps to be ready to reap their good fortune when the business cycle turned upwards again and shortages emerged, says Subir Roy.
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
With the Sensex again nearing 28,000 points, investors can make good returns with a one-two year horizon.
Women have been leaving the investment decision to husbands.
Formula One could have new owners by the end of the year with three parties currently interested, the sport's commercial supremo Bernie Ecclestone said on Tuesday.
