Government may also consider giving relief to some of the worst-affected sectors.
Market regulator Sebi suppressed important facts from the Supreme Court and "slept over" Directorate of Revenue Intelligence's letter on alleged stock manipulation by the Adani firms, one of the PIL petitioners in the Adani-Hindenburg row has alleged in the top court in an affidavit. The apex court is seized of four PILs on the Adani-Hindenburg controversy including those by lawyers M L Sharma and Vishal Tiwari, Congress leader Jaya Thakur and law student Anamika Jaiswal. On August 25, SEBI had informed the apex court it has completed the probe in all but two allegations against the Adani group, and is still awaiting information from five tax havens on the actual owners behind the foreign entities that have invested in the conglomerate.
Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
IBC-oriented pre-packs, the other mechanism under consideration, are a mix of out-of-court restructuring and a formal insolvency process, say experts.
Adani Wilmar's bid was approved by the committee of creditors of the bankruptcy-bound Ruchi Soya with about 96% votes in favour
The company board, wherein Siddhartha's wife Malavika Hegde is also a director, met on Wednesday to put in place a working structure of the company.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
'My biggest contribution is the creation of the first 'modern Indian law firm',' Cyril Shroff tells Sudipto Dey.
'In India, managers and the leadership almost glorify overworking.'
A senior BCCI official seconded Diana Edulji's view and said there should be suspension pending inquiry.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
With the demand for lower costs in process driven activities and a move away from the high rate, billable hours of legal services, AI platforms are being used internationally in many legal tasks.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
When there are two wills produced before the court, which one will be executed?
Ruchi Soya was admitted to the corporate insolvency resolution process (CIRP) in December 2017 and owes lenders Rs 12,000 crore.
The watchdog would provide an additional option to the existing pricing methodology for preferential issuances.
HUFs are not used for tax evasion but for tax avoidance/to save the tax within the four corners of the law. Experts say that there will be little or almost insignificant change in tax revenues.
Experts pointed out the move will only help taxpayers temporarily, as the tax liability remained the same and the date for advance tax has not been extended.
RBI had on February 12, 2018 issued a circular saying that lenders have to provide for resolution plan within 180 days in case of large account of Rs 2,000 crore and above.
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.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
In a statement, Fortis said under the accepted offer, IHH would infuse Rs 4,000 crore through subscription to the preferential allotment at a price of Rs 170 per share. The Malaysian firm will then make a mandatory open offer to public shareholders for 26 per cent of the outstanding shares post issuance.
Also, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced by start-ups.
The new owner may be allowed to dispose of assets accruing from the 10-26 per cent of the net assets of the company.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
Markets watchdog Sebi on Tuesday decided to tighten norms for utilisation of IPO proceeds by companies, introduce special situation funds to invest only in stressed assets and amend various regulations, including those on mutual funds and settlement proceedings. The board of Sebi, which met on Tuesday, also gave its nod for amending Foreign Portfolio Investor (FPI) regulations and introducing a provision for appointment or re-appointment of any person, including as a managing director or a whole time director or a manager, who was earlier rejected by the shareholders at a general meeting. Once the amended norms are in place, such appointments or re-appointments can only be done with the prior approval of the shareholders.
Fortis Healthcare has already received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices.
Many top B-schools attach more value now to academic record, bachelor's degree marks, work experience, performance in the personal interview, as well as gender and academic diversity -- resulting in a decline of the weighting to the CAT score.
The Vivaad se Vishwas scheme is a replica of the Sabka Vishwas (Legacy Dispute Regulation) Scheme, 2019 (SVLDRS) for indirect tax litigation. The hope is that this would unlock revenue blocked in long-drawn litigation at various forums. Sources in the department say the total value at stake in these disputes would be Rs 5-6 trillion.
Issues Rs 358 crore interim dividend, 1:10 bonus and 10:1 split
'A 180-days period -- for insolvency resolution -- is aggressive, but by no means inadequate.'
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
FPIs would be classified into two categories instead of three, while the requirements for issuance and subscription of offshore derivative instruments would be rationalised.
Among other things, the company is considering monetising the Global Village tech park located off Mysore Road in Bengaluru, for which private equity major Blackstone was said to have shown interest.
'I cannot think of a teacher who has had such a high impact on students across several generations and who has produced several professionals in various disciplines of law.' L Vishwanath salutes Professor N R Madhava Menon, who passed into the ages recently.
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