The bench said that 'argument on the preliminary issue and the claim of privilege raised by the Government of India is reserved'.
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
As corporate India gears up to be GST-ready, the ongoing litigation and tax dispute cases are something most businesses are cagey about.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
The Congress, which was not a petitioner before the apex court, wants the Rafale deal to be referred to a Joint Parliamentary Committee to go into the price arrived at by the BJP government versus the one negotiated by the previous UPA regime, as also how billionaire Anil Ambani's group with virtually no experience in manufacture of fighter jets was selected as an offset partner for the deal.
India's mainstream naval fighter jet plane MiG-29K faces operational deficiencies due to defects in engines, airframe and fly-by-wire system leading to very low availability.
The MoD panel had submitted its report in March 2015, weeks before Prime Minister Narendra Modi announced that India would procure 36 jets.
Government auditor CAG has expressed concern over the post of chairperson of Cyber Appellate Tribunal lying vacant for about five years, saying this has led to not a single case being heard or disposed of despite pending appeals.
She would also have a separate meeting with the defence secretary every day.
A whopping 29 per cent growth in the Centre's fiscal deficit to Rs 1,55,833 crore (Rs 1558.33 billion) or 6.8 per cent of GDP in 2001-02 has made the Comptroller and Auditor General sceptical of the long term target of two per cent by 2006.
The cross-Line of Control surgical strikes, policy towards Pakistan, the situation in Jammu and Kashmir, besides One Rank, One Pension and the plight of farmers were also among issues that were raised at the meeting with parties demanding discussion on them.
The fall in the ratio of customs and excise duty collection to GDP has resulted in an overall decline of tax-GDP ratio from an average of 9.32 per cent during the 8th Plan
Decision-making has been very poor, Ambani said.
The apex court sets aside Delhi HC order on the oilfield.
The list of the prestigious Padma Awards 2016 awardees is out and superstar Rajnikanth is set to be honoured with the nation's second highest civilian award, the Padma Vibhushan.
The Income-tax Department has allowed irregular exemptions on TV rights from BCCI to four cricket associations resulting in non-levy of tax to the tune of Rs 37.23 crore, the Comptroller and Auditor General (CAG) said on Friday.
'India has seen that whenever dynastic politics has been powerful, institutions have taken a severe beating'
A special audit will look into any pricing anomalies in the transactions between the two, according to a source. FTIL had a contract for helping the exchange with its technology needs.
The Railways has also reduced flexi-fares from 1.5 to 1.4 times the base ticket fare in 101 trains
A bench comprising justices K S Radhakrishnan and Vikramajit Sen said CAG can carry out the audit to examine whether the companies are giving proper share of their revenue to the government.
In their review plea, they alleged that the judgment "relied upon patently incorrect claims made by the government in an unsigned note given in a sealed cover" to the apex court.
The Bharatiya Janata Party on Friday termed as "very dangerous" External Affairs Minister Salman Khurshid's comments questioning the role of the Supreme Court and Election Commission and said the two institutions must take suo motu cognisance of it.
The four officials were asked questions related to the UPA government's '20:80' gold import scheme, which was cleared by Chidambaram on May 13, 2014, barely three days before the counting of votes of the general election
The new minister must commit himself to supporting long-term defence plans or else defence modernisation will continue to lag and the growing military capabilities gap with China will assume ominous proportions, warns Brigadier Gurmeet Kanwal (retd).
The CAG observed there was no change in the price of 'flyaway aircraft package'.
Travel expenses given to members of Parliament have come under the scrutiny of the Delhi high court, which asked the Centre to explain the "rationale" behind such benefits.
A lot of the factors towards which the government has pointed to justify its moves on Jammu and Kashmir are in fact valid. Only, most of them have little to do with Article 370, says David Devadas.
The CBI today registered three FIRs and a preliminary enquiry to probe alleged irregularities in Indian Airlines-Air India merger and purchase of 111 aircraft, leasing of planes and giving up of profit-making routes by Air India, causing a loss of thousands of crore of rupees.
Former Comptroller Auditor General Vinod Rai has come out with a stinging criticism of former Prime Minister Manmohan Singh saying integrity is not just financial but intellectual and professional too and claimed that Congress leaders had sought to apply pressure on him to keep the PM's name out of audit reports.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
I will give answer to the public in 2019, but Akhilesh government must answer to the people as it had ruled it for the last five years, Modi said.
A well-established tax system would have a predictable buoyancy - how fast the collections grow as a proportion to the growth of the economy. But that is not the case with GST. It is still undergoing substantial changes as the government responds to structural as well as administrative glitches.
Swaraj Abhiyan leaders Prashant Bhushan and Yogendra Yadav in Delhi accused the Raman Singh government of paying $1.57 million (Rs 10 crore) as 'commission' to a company registered in tax-haven British Virginia Islands to procure the chopper.
Any residual amount left in the Compensation Fund after five year compensation period shall be shared equally between the Centre and the states.
The CAG audit may look into expenditure on printing of notes, RBI dividend payout and banking transaction data.
The committee has been tasked to look into "omissions and commissions" in the decision-making process and also to fix responsibility of individuals, including civil and criminal liability, if any, the LG's office said.
CBI sources said while Air Marshal (Retd) Gujral has been asked to appear for questioning on Saturday, Tyagi will be examined on Monday.
'As someone who has had the opportunity of cross examining Vinod Rai, extensively over three days as part of the Joint Parliamentary Committee, many of us included I had concluded at that point of time that this report rests on the foundation of sand.'
One of Brazil's largest builders, Andrade Gutierrez, will confess to paying bribes for 2014 FIFA World Cup contracts and business with state-run companies Petrobras and Eletrobras, a newspaper report said on Friday.
