Reliance Industries Ltd (RIL) said on Wednesday that the government's move to disallow it recovery of certain costs relating to the D6 gas block in the Krishna-Godavari basin (KG-D6) did not amount to a penalty and was also not in line with the contract the two had signed.
Liquor baron Vijay Mallya, facing probe in a loan default case of IDBI bank, apparently managed to leave the country in spite of a look-out notice against him by CBI.
RIL-BP, who are currently producing about 11.8 million standard cubic metres per day of gas from the flagging eastern offshore KG-D6 block, is targeting newer fields in KG-D6 block and gas discoveries in neighbouring north-east coast and Cauvery basin to raise output.
'I have been most pained at being painted as an absconder'.
Database to contain taxable financial transactions and history of any tax-paying individual.
The immediate concern for the rupee is the sharp spike in oil prices
This fresh case pertains to the tax assessment done by the I-T department for the year 2009-10.
The rap from both the US and UK drug regulators, including the latest one from the latter, has hit the scrip.
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.
Sebi to look into disclosure, other lapses in the Vijay Mallya, Diageo case.
USL is already contesting a Karnataka High Court order.
Special CBI Judge O P Saini took cognisance of the CBI's charge sheet filed against eight accused including four companies and summoned them on March 2, 2015.
If proved correct, MJ-1 would the third biggest gas field in KG-D6 after D1&D3.
The FDA has stepped up its efforts to ensure drug safety in recent months.
The government has formed a four-member panel of secretaries to suggest a new gas pricing mechanism.
The company has not been able to sell its 9.8% stake in Cairn India
To bring clarity, the department clearly defines terms such as promoter and competitor.
Markets end in red; bluechips struggle to keep pace.
The landmark bill to liberalise the insurance industry, which marks Prime Minister Narendra Modi's first stab at legislative reforms, will now go to a parliamentary committee, which will submit a report later this year.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
According to a source close to the development, the government is set to come out with a notification in this regard by the end of this week.
The high court court on Thursday accepted Nokia's appeal to release its local factory after its seizure by authorities in a tax dispute, removing a hurdle for the sale of the company's mobile phone business to Microsoft.
The company contented before the tribunal that the amount was paid outside India.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
The Election Commission asked the government to defer announcement of the new price till completion of the polls and so RIL was asked to continue selling the gas at old rates.
RIL and its partners BP plc of UK and Canada's Niko Resources plan to produce about 13 million standard cubic metres per day of gas for 13 years from D-34 discovery, known as R-Cluster, in the KG-DWN-98/3 or KG-D6 block by 2017-18.
Beleaguered businessman Vijay Mallya had made at least four trips abroad before his controversial March 2 departure since a look-out notice was issued by CBI on October 16 last to know his movements.
The move to sell the jewel in Vodafone's crown closes a heady expansionist chapter for one of Britain's most famous companies
CBDT circular issued last month had raised multiple taxation concerns.
The transaction will lead to an open offer for minority holders.
Arora started off his career at Wipro.
With this, the total penalty on RIL for missing the target in four fiscal years beginning April 1, 2010 now stands at a cumulative $2.376 billion, the Minister informed the Lok Sabha on Tuesday.
RIL and its partners BP Plc of UK and Canada's Niko Resources had last month spud the seventh well on the MA oil and gas field in the KG-DWN-98/3 or KG-D6 block in the Krishna Godavari basin.
The government had disallowed as much as $1.005 billion of its investment as KG-D6 output lagged targets.
RIL and its partners BP plc of UK and Canada's Niko Resources have spud the seventh well on the MA oil and gas field in the KG-DWN-98/3 or KG-D6 block in Krishna Godavari basin.
Granted 6-month relief, subject to interim payments and guarantee, on Rs 3,700-cr demand for alleged transfer pricing in FY09.
The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341.
The Cabinet Committee on Economic Affairs had first on June 27, 2013, and then on December 19, 2013, decided to price all domestically produced natural gas, including unconventional fuels such as coal-bed methane and shale gas, at an average of international hub rates and the cost of importing liquefied natural gas.
