The Adanis', which already has won the bids to run six Airport Authority-built non-metro airports in Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram and Mangalore, bid to enter the country's second busiest airport by buying out Bid Services Division Mauritius from MIAL was stalled after GVK chose to exercise its first right of refusal, and matched the Rs 1,248-crore offer that the Adanis made to the Bidvest in March.
Companies wanting to consider treaty benefits and deducting tax at a lower rate will have to examine the qualitative factors. They will have to consider whether FPIs are liable to tax and whether they are the beneficial owner of dividend income.
Goldman Sachs wanted the govt to give it a blanket approval for any further investment in non-banking financial activities in India.
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.
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
Most of those who tested positive either recently arrived from African countries or were in contact with such people.
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.
'The international community is moving away from harmful tax practices.'
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 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.
The Enforcement Directorate has stepped up its probe into a foreign exchange violation case against former Indian Premier League boss Lalit Modi.
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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.
His son Karti was questioned by the agency in the same case on Thursday for about six hours.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
In a statement, the PMO said three vaccines are in advanced stages of development in India, out of which two are in Phase II and one is in Phase-III. It further said Indian Scientists and research teams are collaborating and strengthening the research capacities in neighbouring countries such as Afghanistan, Bhutan, Bangladesh, Maldives, Mauritius, Nepal and Sri Lanka.
'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.'
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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.
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.
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.
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.
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Cement major Gujarat Ambuja Cements Ltd on Monday said Holderind Investments Ltd (Holcim Mauritius) has 14.8 per cent stake in the company.
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.
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.
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.
Dr Somaiya also said that Ali is facilitating few other major political leaders.
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.
After a long hiatus of more than 20 months, the government had on November 26 announced the resumption of scheduled international commercial flights from December 15.
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).
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.
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.
'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'
Temasek Holdings, the Singapore government's investment arm, has sold its entire 5.26 per cent stake in healthcare major Apollo Hospitals Enterprise for Rs 133.68 crore (Rs 1.34 billion).
In 2012, India attracted $22.78 billion of FDI, according to the data by Department of Industrial Policy and Promotion.
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
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
The buyback offer saw subscription of approximately 1.47 times the maximum number of equity shares proposed to be bought back
His father, P Chidambaram, said he will return after a few days.
