Life Insurance Corporation of India (LIC) has increased the size of its shareholders' fund to Rs 6,600 crore from Rs 100 crore in a bid to accommodate a larger shareholder base ahead of its public listing. The size of the fund has been enhanced by retaining two years' of dividend and issuing fresh capital, said an official. Increasing the size of the shareholders' fund will help boost the number of shares for allotment in the insurer's initial public offering (IPO). The corpus represents the amount of equity in a company that belongs to its shareholders.
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
Monetising real estate assets is part of the overall relief package that would be used to retire debts, upgrade networks, and offer VRS aimed at reducing the telcos' employee strength by half.
'This is a race where every technology can be used by the bad guys and good guys.'
Taxmen have come across instances where global firms - charged a withholding tax of 6 per cent - are underreporting the exact income they earned from an Indian user.
Some of the proposals include redrafting transfer and placement policy for IRS officers, strengthening the cadre restructuring, rebranding of IRS, robust deputation policy and creation of encadred post in other ministries and government department.
Months before 8/11, MP, Haryana probed note ban
The Opposition party asked whether the prime minister will take responsibility for the 'deadliest rail tragedy' of this century.
Urban ministry changes rule before public consultation by environment ministry
Two-wheeler market leader Hero MotoCorp has denied the report of the IT Department finding Rs 1,000 crore false expense claims, saying it is speculative. The company said officials from the Income Tax department visited its offices in the previous week, and it has provided all support and cooperation, necessary documents and data to the authorities and will continue to do so if required. "The allegations made in the press report are not borne out of any documents that have been served on us or our internal documents.
Today, a friendship forged by common ideals behind prison walls has become a transactional understanding, notes Aditi Phadnis.
Owing to Finance Minister Nirmala Sitharaman being new to her role, a number of crucial announcements in the Budget bore Garg's imprint, especially the decision to borrow in overseas markets, reduce the fiscal deficit as a percentage of gross domestic product, and resort to off-Budget borrowing to meet that target, says Arup Roychoudury.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
The 2015 World Bank group's Doing Business index ranked India at 142, down from 140, which it was the year before.
The move follows an arrangement with the dept of consumer affairs.
Modi government plans to set up a committee of five or six chief ministers to suggest ways to promote digitisation.
The recent spate of technical glitches in aircraft has prompted the Directorate General of Civil Aviation (DGCA) to issue an order on July 18, making aircraft maintenance engineers (AMEs) with category B1/B2 licences the final authorities in certifying planes. This has put the spotlight on the availability of such personnel. According to the order, airlines were resorting to frequent one-off authorisation by the Category A certifying staff at transit stations, which is not in line with existing regulatory provisions.
Karnataka tax dept may attach assets of dealers; new retailers not being registered
A proposal in the Union Budget 2022-23 to raise excise duty on dirtier, unblended retail petrol and diesel has met with some resistance from the petroleum ministry. However, finance ministry officials say no such communication arguing against the levy of extra duty on diesel has been received from the oil ministry. Until there are discussions between the two departments, the proposal will not be tweaked in the Finance Bill. The Rs 2 per litre additional excise duty proposed on unblended fuels in the Finance Bill will result in a uniform hike of diesel prices across the country from October 1.
'Gift-giving' - from free dinners and drug samples to promotional merchandise - seems to be driving drugmakers' marketing - a marketing prescription deeply entrenched in the industry. This is a well-oiled racket that sees pharmaceutical (pharma) companies 'gifting' doctors to push their respective drugs under the guise of marketing. But is there a cure in sight to end this unhealthy alliance? The recent controversy following the income-tax raids on Bengaluru-based drugmaker Micro Labs, makers of popular paracetamol brand Dolo-650, has brought this to the fore, again.
The faceless authority has suggested a host of changes in the assessment process following conflicts and practical difficulties raised by taxpayers since the new regime was introduced. On August 3, the National Faceless Assessment Centre issued a set of standard operating procedures (SOPs) to address several anomalies in the regime. The faceless centre, constituted by the Central Board of Direct Taxes, is the nodal authority and works as an interface for the faceless regime.
Only 32 departments had prepared and submitted these plans.
India joins a select list of countries that have made entry for animals less bureaucratic, thereby helping families, including people like Rishabh, escape the warzone with their beloved companion animals.
Starting today, Modi and top officials in the Prime Minister's Office will be briefed by various central ministries and departments on their plans as well as agenda for the next five years. They will also apprise the PMO of the work they have done so far in realising the agenda of government's second term in office.
"Not a single step has been taken by this government to empower small businesses in India," says Praveen Khandelwal, national secretary general of the Confederation of All India Traders and former treasurer of the Bharatiya Janata Party's Delhi unit.
You finally end up with an army of midgets led by midgets, notes Sandeep Goyal.
The government is targeting 1,200 technical collaborations between Japanese companies and Indian investors for over Rs 42,000 crore, 200 joint ventures with overseas investors for Rs 14,000 crore, and another Rs 14,000-crore investment from about 50 multinational companies.
Consultants are working with various teams on manufacturing, R&D, etc, to assess per-month productivity of each department.
The FT stock took a beating, losing 80 per cent in two sessions before recovering. Though in an exchange announcement following the government's missive on July 12, FT identified NSEL as a material subsidiary, rumour mills contemplated two possible transactions: a sale between May 30 and June 30 which had led to the subsidiary becoming an associate and another transaction between June 30 and July 15 when the associate again became a subsidiary.
Former United States President Donald Trump on Tuesday pleaded not guilty to 37 charges related to the alleged mishandling of classified documents, CNN reported.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
'We have all the technologies available, but it should be converted to something that can be commercially viable.'
Five years on, US company that won the auction for the aircraft is running pillar-to-post, unable to take possession as DGCA hasn't deregistered the jet
'We have not issued notices randomly.' 'We have done the risk profiling of individuals, and sent to those whose profile has not matched with their declared income.'
The company stated that it was taking steps for cost rationalisation across all businesses to maintain liquidity and due to a prolonged slowdown it had to take a few tough measures.
While giving approval to commercially develop land in Gurgaon, the Haryana government considered Robert Vadra's name and status as proof of his company's financial capacity.
Arvind Kejriwal will monitor the work of various departments. Adarsh Shastri might also aid Kejriwal in this task. Somesh Jha reports
'...Market-linked debentures, high-value insurance, exemptions from capital gains by investment in real estate, etc.' 'So, there are a number of measures directed at collecting a fair share from higher income individuals.'
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