Despite finance minister's assurance, tax officials seem reluctant to take steps for tackling issues at stake
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
Dubai-based billionaire BR Shetty has sued Bank of Baroda (BoB) and audit firm Ernst & Young (EY) in a New York court, accusing them of ignoring fictitious and fraudulent transactions that resulted in NMC Healthcare going bankrupt. Shetty is seeking $8 billion in damages in the suit that also names the top management of NMC Healthcare, and Netherlands-based Credit Europe Bank. A top NMC Healthcare official confirmed the development to Business Standard and said despite several meetings, senior BoB officials in India did not take remedial steps for fear of getting involved in an international ponzi scheme perpetrated by then senior management officials.
The entire operation was meant to have a chilling effect on independent journalists, those not completely subservient to the regime, the small section still doing what the Fourth Estate should do -- raising questions to those in power.
However, the bench said Chidambaram is at a liberty to seek remedy in accordance with the law.
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
As per the norms, sanction for prosecution has to be decided within four months time of the CBI seeking such a permission.
The changes would be the most ambitious overhaul to date of rules governing the liquidation or revival of companies in India.
The ministry of electronics and information technology has directed WhatsApp to withdraw its new privacy policy, according to sources. The IT ministry believes that the changes to WhatsApp privacy policy and the manner of introducing the said changes undermines the sacrosanct values of informational privacy, data security and user choice and harms the rights and interests of Indian citizens, government sources said. The government has given seven days to WhatsApp to respond to the notice and if no satisfactory response is received, necessary steps in consonance with law will be taken, sources informed. In a communication to WhatsApp on May 18, the ministry has once again told the messaging platform to withdraw its privacy policy 2021, they said.
Amount more than twice the size of Sahara's; collective investment scheme operator has 3 months to return money and wind up.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
The apex court was irked when Sebi claimed that the group had allegedly obstructed the process by writing a letter to the Pune police raising the issue of law and order at the prime property.
Special Judge Ajay Kumar Kuhar said the CBI demand was "justified" that Chidambaram has to be further interrogated in its custody.
Ola accuses Uber of violating local laws, run business for profit.
Indian and Finnish finance ministry officials on Tuesday discussed Nokia's Rs 21,153 crore (Rs 211.53 billion) tax dispute case and reviewed the double taxation avoidance agreement.
The Union finance ministry has asked field officers of the income tax department to not be adversarial to assessees, and to not send high-pitched demands without a proper basis.
The Aam Aadmi Party on Wednesday accused Prime Minister Narendra Modi of using Censor Board chief Pahlaj Nihalani as a pawn to further his chances in the polls next year by playing politics over the upcoming controversial film, 'Udta Punjab'.
How to shield brand McDonald's? While consumers may have ignored the legal battles plaguing the franchise in north and east India, closure of restaurants is not something they are likely to ignore.
The Trinamool Congress on Monday wrote to Kolkata Police Commissioner Soumen Mitra seeking 'necessary action' under the law against the Central Bureau of Investigaton officials who arrested three senior party leaders 'illegally'.
The brand image, however, may not tarish further as it will have already taken the beating due to consistent injury
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
A paper authored by Rajan said, state-linked banks can be a first step in altering the ownership structure of some PSBs, where the government brings down its stakes to below 50 per cent, creating distance from operations of banks, and improving governance along the way.
What is the National Herald case all about? Here's a ready reckoner.
Even while rejecting Israel Military Industries' petition, the court has effectively granted foreign vendors the constitutional right to be treated equally with Indian companies.
The probe gave a clean chit to the tax department that was being alleged to have harassed Siddhartha.
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
Political controversies aside, Twitter's business in India is expanding, and creating opportunities for Indians, reports Neha Alawadhi.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
Shahbaz was allegedly involved in the corruption of Rs14 billion Ashiana Housing project and Rs 4 billion Punjab Saaf Pani Company scams.
"The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys said in a statement.
A bench of Chief Justice Ranjan Gogoi and Justice S K Kaul said the case will be heard on January 8.
The department had initiated proceedings against Vodafone and TTSL in 2011 on the ground that the companies had allegedly failed to deduct tax deducted at source (TDS) for those assessment years.
Till such time that a new governance framework comes into being, the progress of reforms in health, education, land, labour, electricity and agriculture could remain fraught with problems, agitations and delays, observes A K Bhattacharya.
Authorities said social media posts will be monitored to ensure that no attempt is made to vitiate the atmosphere.
As the industrial era wanes, the network era looms, notes Ajit Balakrishnan.
The Supreme Court on Monday put the onus on Board of Control for Cricket in India president-in-exile Narayanaswami Srinivasan to prove that there was no conflict of interest involving him that came in the way of a probe into the IPL-6 scam and took strong exception to his counsel "repeatedly" naming Finance Minister Arun Jaitley in the proceedings.
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