Under attack from Tamil Nadu Chief Minister Jayalalithaa and political parties in the state, the University Grants Commission has decided to withdraw its controversial circular directing universities to teach Hindi as one of the primary languages in undergraduate courses.
The cryptocurrency industry on Wednesday urged the government to take a nuanced approach towards regulating crypto assets in India and asked investors in the country to remain calm and not arrive at a rushed conclusion, a day after the government listed for introduction a Bill to ban all such cryptocurrencies, with some exceptions.
Allaying investors' fears, Franklin Templeton AMC has said Sebi's order prohibiting the company from launching new debt funds will have no bearing on existing schemes managed by it. Sebi on Monday barred Franklin Templeton Asset Management (India) from launching any new debt scheme for two years and imposed a penalty of Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees of over Rs 512 crore (including interest) collected with respect to the six debt schemes. This amount will be used to repay unitholders, as per Sebi order.
The top court granted two weeks to the Centre and RBI to file the affidavit and place before it the decisions taken in this regard.
According to the govt, Greenpeace activist Priya Pillai cannot be allowed to travel to London as she would indulge in anti-national activities.
Tourists are dismayed by the new rules, asserting that it would affect tourism.
Two persons, including a 21-year-old man who assaulted a policeman on duty at Red Fort with a spear on January 26, has been arrested in connection with the violence at the historic monument, police said on Wednesday.
The RBI rejection is a second blow to BoB - the lead bank of both companies -- after a Delhi high court order on August 18 stayed a move by BoB and the entire consortium of lenders to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
In its 17-page Status Report, the COA has sought directives from the apex court on three issues.
The top court asked the Centre to file a compliance report within four weeks on payment of salaries and quarantine facilities to doctors and healthcare workers and warned that non-compliance would be viewed seriously.
The former liquor baron owes several banks a total of as much as Rs 9,000 crore
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
Patel, who headed the RBI from September 2016 till his sudden resignation in December 2018, says in his book thta the government seemed to lose enthusiasm for the new bankruptcy law in the middle of the year he left the central bank. Though Patel does not name anybody in the book, the mid-2018 period he refers to is the time when Piyush Goyal held temporary charge of the finance ministry between May and August.
The 12,000-page charge sheet further claimed that a similar fraud was detected in 2016 following which the RBI took up the issue and issued circulars to all banks.
Pushing people to litigation is a major source of tax uncertainty.
The court decided the bail petition on three grounds -- flight risk, tampering with evidence and influencing witnesses.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
Earlier when Goyal had moved court seeking permission to go abroad, the judge had observed that if he wanted to go abroad, he should first deposit Rs 18,000 crore as guarantee that his company owes to lenders.
The Bombay high court on Monday stayed the controversial ban on sale of meat in Mumbai on September 17, but refused to interfere with the bar on animal slaughter on that day.
The Maharashtra government has asked it to rule out any ambiguity during invocation of sedition charge and not to invoke it against those trying to bring change through legal means.
"Fact that persons with disabilities get marginalised from every scheme does not require a debate," the court said.
The court dismissed the plea filed by P Vetrivel, MLA, a supporter of sidelined AIADMK leader T T V Dinakaran, and imposed a cost of Rs one lakh on him for "wasting the time of the court".
The British home secretary has granted permission for jeweller Nirav Modi's extradition to India. During their arguments in a London court, his lawyers claimed Modi suffers from mental illness and is a suicide risk if he was sent to Mumbai's Arthur Road jail. A fascinating excerpt from Danish Khan and Ruhi Khan's Escaped: True Stories Of Indian Fugitives In London.
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
The finance ministry has asked the tax department to impose hefty penalties on those hospitals found with unaccounted cash, and such entities could be booked under anti-money laundering laws and prosecuted, reports Shrimi Choudhary.
The Bombay high court on Monday refused to grant interim stay on ban on slaughter of bulls and sale of their meat during the Muslim festival of Bakri Eid.
As per the information available, 205 first information reports have been lodged against the foreign Tablighi Jamaat members by 11 states and 2,765 such foreigners have been blacklisted so far, while visas of 2,679 foreigners (including 9 Overseas Citizen of India (OCI) card holders) have been cancelled, it said.
The court posted the matter for hearing on October 22.
'The government allowed private hospitals to treat COVID-19 patients, so it should pay.'
A day after arresting Hindu Sena chief Vishu Gupta, the Delhi police on Thursday nabbed his aide Mohit Rajput for breaching peace and tranquility by calling the police, claiming that cow meat was being served at Kerala Bhawan canteen.
The apex court, which has been mulling over the issue in its meetings held at the residence of Chief Justice of India S A Bobde on Thursday and Friday, took note of the government's March 5 advisory cautioning against mass gatherings in view of the fact that the World Health Organisation has declared COVID-19 a 'global pandemic'.
The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
While in all, 15 entities owe the government Rs 1.47 lakh crore -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges, it is not immediately clear just how much of that has been sought by the government by midnight.
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements. Though the value of the deal was not specifically disclosed, the crippled IL&FS -- which is under bankruptcy proceedings in NCLT -- said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses. IL&FS Environmental Infrastructure & Services (IEISL) is one of the leading integrated waste management companies that is into municipal solid waste management apart from presence across various segments including construction and demolition, collection and transportation and waste to energy and currently manages over 8,400 tonnes per day solid municipal waste.
Despite a temporary relief, foreign investors still see the sword of double-taxation hanging above their hard earned returns.
The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money-laundering charges in Mumbai in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said.
The government has asked all central and state departments and ministries to stop using private email services for official communication and instead use indigenous services provided by NIC, to prevent "misuse" or "leakage" of classified data.
The key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
'India should start leveraging rather than banning crypto.'
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