The state is trying hard to improve ease of doing business by several notches.
Sensex in green in afternoon trade.
The apex court, which stayed the Madras high court order putting on hold the look out circular issued by the Centre against Karti, repeatedly sought to know when he would make his appearance for questioning before the Central Bureau of Investigation.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
The Supreme Court on Thursday asked the CBI to go ahead with its probe in the Aircel-Maxis deal without waiting for necessary sanction against an official "holding high position" in connection with irregularities in the case arising out of 2G scam.
"The fact is that after 106 days of pre-trial incarceration there is not a single charge framed against me as I speak now," said Chidambaram, who is expected to attend the Rajya Sabha proceedings on Thursday.
No home food for Karti, medicines allowed only on prescription.
The board of Bharti Airtel approved the rights issue to raise up to Rs 25,000 crore through the issuance of fully paid up shares at a price of Rs 220 per share and to raise an additional Rs 7,000 crore via the foreign currency perpetual bond issue.
According to sources, the directorate has sent a letter to Flipkart on the basis of complaints received after the Big Billion Day sale on October 6.
The court allowed Karti to carry spectacles and medicines as per prescription subject to examination and approval by the jail doctor, but denied his request to carry toiletries, books, clothes and home food.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Chidambaram, 74, was arrested by the Central Bureau of Investigation on August 21 and is lodged in Tihar jail under judicial custody in the corruption case.
Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
In a wide-ranging overhaul of rules to make India an easier, safer and attractive investment destination, Sebi on Tuesday unveiled a new set of streamlined entry norms for foreign investors, while putting in place checks against any wrongdoings by the company promoters.
The success of recent IPOs and the stability in the secondary market are propelling many firms and investment bankers to remove their IPO plans.
'We will continue to ask why Modi and his government were benefactors to this AgustaWestland company, why within 40 days they overturned the ban?'
On Tuesday, Novartis agreed to buy GSK's oncology products business for $14.5 billion, while selling its vaccines business, excluding flu, to GSK for $7.1 billion.
So far the government has been silent on the charges being levelled, even after the stock price rout. Perhaps it is hoping for the share price to settle so that the matter goes away, predicts Aakar Patel.
'Banking is a business of trust.'
Access to India's defence market must be made conditional -- available only to those who are ready to make a long-term commitment in India, argues Ajai Shukla.
It also expects to get its REIT listed on the Singapore stock exchange next year.
The top court had granted bail to Chidambaram in the case lodged by the CBI saying he is neither a 'flight risk' nor is there a possibility of 'his abscondence from the trial'.
During the arguments, the ASG said FIPB officials have also been interrogated and all of them are holding high offices in their respective fields.
The Central Bureau of Investigation had registered an FIR on May 15, 2017 alleging irregularities in the Foreign Investment Promotion Board clearance granted to the media group for receiving overseas funds of Rs 305 crore in 2007 during Chidambaram's tenure as finance minister.
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
The Covid pandemic has left a question mark on how the central government manages its staff.
'You can't take money from Shaktikanta Das (the RBI governor) and give it to Nirmala Sitharaman (the Union finance minister). She will blow it away on Modi.'
Scores of chartered accountants, company secretaries and cost accountants are currently under the regulatory scanner for alleged violations of the companies law with respect to setting up of certain Chinese companies and their subsidiaries in India, according to officials. The apex bodies of chartered accountants and company secretaries, ICAI and ICSI, have together received around 400 complaints on the issue and necessary actions have been initiated. The Institute of Cost Accountants of India has also initiated action against some of their members in the matter.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
With the Union government clearing the way for foreign direct investment (FDI) in the railways, the Railway Board is devising a plan for operations, maintenance and construction projects.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
The Insurance Regulatory and Development Authority of India (Irdai) will look at Indian executives for all top posts at insurance companies.
Non-uniform definition of control makes foreign investors wary, raise corporate governance issues.
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.
But completion occupancy certificates to be mandatory.
