The Supreme Court has said that selling land or property is not a service under the Finance Act, 1994, so such sales cannot be charged with service tax.
At the same time, the bench comprising Justice Arijit Pasayat and Justice P P Naolekar said that the interim order of Lucknow Bench of Allahabad high court staying the RBI action against SIFCL will not be in operation. SIFCL will now appeal to RBI on June 12 for a personal hearing.
The NBFC was registered on December 1998, with an office in Lucknow.
SC wanted to know how it encashed securities deposited with RBI.
Late 'big bull' Harshad Mehta, largest car maker Maruti and liquor major Shaw Wallace are among top 20 corporate and individual income tax defaulters, Lok Sabha was informed on Friday.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
Star India Pvt. Ltd. was awarded the team sponsorship rights of the Indian team on Monday for a period of three years after Sahara's bid was declared ineligible by the BCCI in Chennai.
RBI has sought to stop one of its firms from disposing off assets.
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
In the midst of its bloody battles with the Supreme Court and Sebi, Sahara group gets the Calcutta high court to issue a stay order on the publication of the book, Sahara: The Untold Story, by Tamal Bandyopadhyay.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
An investment vehicle lining up a $2 billion package to help bail the boss of India's troubled Sahara out of jail said it expects to ultimately take control of landmark hotel assets like New York's Plaza after the conglomerate fails to repay lenders.
This was due to a planned expenditure being revised
Sahara has ploughed at least Rs 1,500 crore from two of its credit cooperatives into the Aamby Valley resort project
Sahara chief Subrata Roy may not come out clean in the biggest ever investment fraud that he allegedly did few years ago.
As many as 48 companies, including Reliance Retail, Jindal Power Ltd and Adani group, are in the final list of eligible prospective resolution applicants for acquiring debt-ridden Future Retail Ltd. The Resolution Professional of Future Retail Ltd (FRL), which is currently going through an insolvency resolution process, on Monday came out with the final list of 'Eligible Prospective Resolution Applicants'. On April 10, FRL's RP updated a list of 49 companies, which had submitted Expressions of Interest (EoIs) after the company's lenders decided to invite fresh bids after dividing its assets into clusters.
'A law firm checked credentials of Karan Ajit Judge and Nouam'
Five of these have wound up since, according to records of the Ministry of Corporate Affairs
'Around 15 crore poor people have lost their money.'
Few top honchos of India Inc did very well in 2014.
Kolkata's creme de la creme turned up at the launch of Bandhan, The Making of a Bank, but the evening nevertheless had an informal touch typical of the young bank with CMD Chandra Shekhar Ghosh personally welcoming the dignitaries, reports Indrani Roy/Rediff.com.
Case relates to alleged irregularities in '08 sanction to MCX-SX; Shah grilled in NSEL case.
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