The prosecution complaint, ED's equivalent to chargesheet, has urged the court for confiscating attached assets totalling to Rs 1.22 crore in the case, besides other punishment under Prevention of Money Laundering Act.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
Sri Lanka's Acting President Ranil Wickremesinghe on Monday imposed emergency giving him sweeping powers ahead of the key election on July 20 to pick a new President as he urged the political parties to put aside differences and form an all-party government, with the Opposition dubbing his decision as an 'undemocratic draconian act'.
'Nitish Kumar's government has proved during these floods that it is a helpless government.'
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
"You cannot have a lockdown of people, and a lockout of the economy. That is not the way to formulate policy. We are not criticising, we are only saying it is time to rethink, we will support the government in every possible way," said Kapil Sibal.
If pandemic (mis)management threatened to dominate Goa's electoral discourse, the BJP is up against a deeper structural issue in its organisation, created by the fact that a majority of the legislature party and the ministerial council is made up of Congress defectors, disparagingly referred to by the Opposition as "imports". Radhika Ramaseshan reports.
Amazon has filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) suspension of the US e-commerce giant's 2019 deal with Future Retail (FRL). Amazon has challenged the CCI order on at least five grounds, and the matter is likely to be listed this week, according to the sources. Parallelly, Amazon's Indian unit has approached the Supreme Court against a halt on an arbitration case against Future Retail's (FRL) asset sale to Reliance Industries (RIL).
With the rise in level of the Ganga, Bihar Chief Minister Nitish Kumar has expressed apprehension of further rise in water level by Monday in view of release of water from Bansagar dam as flood-like situation prevailed in the state.
It said as and when the protestors tried to infringe the law and failed to obey directions of enforcement agencies, appropriate legal action was taken against the miscreants.
Modi pledges Rs 800 billion in relief and development for Kashmir
The Board of Control for Cricket in India will contribute 10-litre 2000 oxygen concentrators to boost India's efforts in overcoming the COVID-19 pandemic, said president Sourav Ganguly on Monday.
When the sun rises in 2022, the Indian hospitality industry will be waking up with prayers for survival, desperately looking forward to some form of support from the government as revival from the impact of the coronavirus pandemic of the last two years will be an arduous journey. Just as the industry was beginning to see a flickering light at the end of a long tunnel towards the end of 2021, the spread of the Omicron variant of coronavirus and subsequent extension of suspension of scheduled international passenger flights till January 31, 2022, has come as a dampener to those who were looking to have some business in the winter season. With inbound tourist arrivals unlikely amidst the pandemic, the industry wants the government to incentivise domestic travels with income tax benefits for a limited period so as to help the hospitality and tourism sector get up again by tapping the pent up demand for holidays, within the country.
The PM directed officials to evaluate various technology tools to ensure efficient and timely vaccination in due course of time. He also emphasised that detailed planning for such large scale vaccination should be undertaken immediately.
The government on Wednesday notified its decision to permit 100 per cent foreign direct investment (FDI) under automatic route in the telecom services sector. In a press note, the Department for Promotion of Industry and Internal Trade (DPIIT) said foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020. Accordingly, cases requiring prior government approval under the provisions of Press Note 3 will continue to be in place.
The Singapore-based arbitrator, SIAC, has rejected Future Retail's plea to lift the interim stay on its Rs 24,713-crore deal with Reliance Retail, giving a major relief to Amazon that is contesting the transaction. The development comes a day after the Singapore International Arbitration Centre (SIAC) held that Future Retail is a party to the ongoing arbitration between Amazon and Future group in the dispute over the sale of its assets to Reliance Retail. Future had contended before the SIAC that it should be excluded from arbitration proceedings because it is not a party to the dispute between its promoter Future Coupons Pvt Ltd (FCPL) and Amazon.
Commerce and Industry Minister Nirmala Sitharaman told the Rajya Sabha 'the government is absolutely sensitive and seized of the matter'.
The patience, discipline, and resolve displayed by 125 crore Indians, will play a critical role in shaping the future of the nation for years to come, the PM said.
New real estate portals like PropTiger and Commonfloor are also focusing on the secondary market in a big way.
Vinai Kumar Saxena's current job as lieutenant governor of an Opposition-ruled state will raise the bar -- not just for him, but also for the Aam Aadmi Party government, which never says no to a fight with the representative of the central government in India's capital.
'It will take a long time for people's memory to be misled by a prime minister who is so arrogant and who refuses to acknowledge his own faults.'
Banerjee, also the TMC supremo, said in a sarcastic way that personnel of security forces such as the CRPF, BSF, CISF and the Army are present at convoys of every BJP leader visiting West Bengal.
The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announced by Finance Minister Nirmala Sitharaman last week.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
Torrential rains in north Gujarat have caused flood in Banaskantha and Patan districts.
State pegs total loss due to rains at Rs 8,481 crore.
'Bottomline, hairline and waistline -- you have to watch them always.'
Amid the coronavirus pandemic, artist Debjyoti Saha's animation video on the migrant crises struck a chord with many who shared it all over the Internet.
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
The lawsuit accuses Trump of "an unconstitutional and unlawful scheme".
The Delhi and District Cricket Association has offered to host the two IPL play-off games scheduled in Pune after the Bombay High Court ordered for their shifting from Maharashtra owing to the water crisis in the state.
The pleas, which were earlier heard by a bench of Chief Justice DN Patel and Jyoti Singh, have now been transferred to a bench of Justices Siddharth Mridul and Anup Jairam Bhambhani through an administrative order of January 28.
'So far, 400 farmers have committed suicide, we are saying don't turn us into skulls too.'
Cities are setting the rules that now carry life and death implications for their residents, and most of these rules are sought to be set by the municipal authorities who have never wielded such power, reports Subhomoy Bhattacharjee.
The grant will make funds available immediately for relief operations and enable several UN agencies, including the World Food Programme, the UN Children's Fund and the UN Food and Agriculture Organisation, to provide food, shelter, water and sanitation. Citing government statistics, the UN Office for the Coordination of Humanitarian Affairs said that over 2,400 people are dead and 1,500 missing after Cyclone Sidr. Over 273,000 houses, 760,000 acres of crop were destroyed.
Pakistani teenage rights activist and Nobel Peace Prize winner Malala Yousafzai has donated $50,000 to help rebuild UN schools in Gaza that have been damaged during the recent fighting in the enclave.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
Singh and another accused in the case -- Irfan Shafi Mir -- were granted the relief by the court in a case filed by special cell of Delhi Police, noting that the probe agency failed to file chargesheet within 90 days from his arrest, as prescribed under law.
The Indian Navy has a big role to play in support of our strategic objectives in the Indian Ocean. The increasing Chinese presence in the Indian Ocean is a matter of concern and need to be factored. Hence, the requirement of an Aircraft Carrier is a foregone conclusion, asserts Commodore Venugopal Menon (retd).
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