While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
Alert to the looming threat from the 'Omicron' variant, states began to re-tighten curbs and urgently trace people who arrived from abroad in the last one month while a demand to not allow flights from the affected countries was made by Delhi Chief Minister Arvind Kejriwal and Karnataka Chief Minister Basavaraj Bommai.
The allegations of DDT evasion is connected to some transactions the Indian entity has made while buying shares of the company from the Mauritius and US companies of Cognizant.
His son Karti was questioned by the agency in the same case on Thursday for about six hours.
The investigation under FEMA was taken up by ED based on a reference received from RBI to investigate advance remittances received by certain entities for the purchase of the shares of Tamil Nadu Mercantile Bank through escrow mechanism maintained with Standard Chartered Bank, Mumbai.
'The international community is moving away from harmful tax practices.'
Goldman Sachs wanted the govt to give it a blanket approval for any further investment in non-banking financial activities in India.
'The Modi government's lack of foresight has compelled India to become an importer of vaccines today and even now, their "vaccine strategy is flawed and discriminatory'
The Foreign Investment Promotion Board has pulled up the department of revenue for rejecting all foreign direct investment proposals in which funds are routed through Mauritius and said it has taken a conscious policy decision to overrule such objections.
The Indian Football team have now broken all records having won eight games on the trot since the AFC Asian Cup Qualifiers Playoff Round 1 match against Laos on June 2, 2016.
Adani group is in talks to acquire a 50.5 per cent stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5 per cent of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter said.
The Enforcement Directorate has stepped up its probe into a foreign exchange violation case against former Indian Premier League boss Lalit Modi.
Private fund house Citigroup Global Markets (Mauritius) has hiked its stake in India Infoline, a stock brokerage firm, to 8.42 per cent after buying shares totaling Rs 1,424.17 crore through an open market transaction.
'Although he was bed ridden most of the time he was in the vessel and unable to move on the upper deck, his condition is stable.'
The turmoil in financial markets seems to be affecting the global expansion plans of Financial Technologies, promoter of top domestic commodity bourse MCX, and trading at its overseas exchange ventures in Singapore, Mauritius and Bahrain may get delayed by about a year.
The trouble for Ashok Lavasa's family began a few months back when his wife, Novel Singhal Lavasa, came under the scanner of the income tax department on charges of alleged tax evasion.
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'Reenaji said they would be giving Rs 1.5 lakh to everyone, as the budget was very low.' 'So I blurted out, "Madam, do lakh toh hone chahiye".'
Singapore is slated to bring in Singapore Variable Capital Company, a new legal entity which can be used as a vehicle for investment. SVACC is expected to simplify the process of redemption for open-ended funds.
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They were chargesheeted for alleged offences punishable under section 120-B (criminal conspiracy) of IPC and under relevant provisions of the Prevention of Corruption Act.
India and the US are among the countries excluded from the list of nearly 60 low-risk countries.
'India is a pharma dada. We can manufacture enough for our people and for the world.'
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
The buyback offer saw subscription of approximately 1.47 times the maximum number of equity shares proposed to be bought back
Prime Minister Narendra Modi on Friday flew into Colombo in the early hours for a historic visit during which he is expected to hold talks with the country's top leadership.
The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
Mumbai-based Pratibha Shipping Company, which owns six tanker vessels, has secured a contract from Mangalore Refinery & Petrochemicals, a subsidiary of ONGC, for transporting fuel to Mauritius for three years.
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
Cement major Gujarat Ambuja Cements Ltd on Monday said Holderind Investments Ltd (Holcim Mauritius) has 14.8 per cent stake in the company.
Introduced in 2012, the General Anti-Avoidance Rules, were aimed at companies routing money through tax havens such as Mauritius, but implementation was delayed after an uproar from investors who feared harassment from tax authorities.
Three suspected associates of Karti --Bhaskar Raman, Ravi Vishwanathan and Mohanan Rakesh -- are also being questioned
His father, P Chidambaram, said he will return after a few days.
Dr Somaiya also said that Ali is facilitating few other major political leaders.
Carrier International Mauritius Ltd and Global Investment Ltd are looking to buy over 45 lakh shares in domestic IT services firm Infotech Enterprises, for nearly Rs 162 crore (Rs1.62 billion).
The court extended the interim protection granted to Chidambaram and his son, Karti, till December 18.
In 2012, India attracted $22.78 billion of FDI, according to the data by Department of Industrial Policy and Promotion.
Enjoying the snow away from the Mumbai summer!
WCP Mauritius Holding, an investment vehicle promoted by former World Bank president James Wolfensohn, has bought a minority stake in India's ethnic wear company Fabindia for about $11 million, a Financial Times report said.
