The revised Double Taxation Avoidance Agreement between the two nations, that would allow India to seek details about its citizens having unaccounted money in Swiss banks, was approved by Switzerland's Parliament on June 17
During the meeting, the parties also decided to unitedly move forward in fielding a joint candidate for the post of deputy chairman of Rajya Sabha, which fell vacant after the retirement of P J Kurien on July 1.
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
Investigations against black money holders in Swiss bank accounts, known as the HSBC list, have been put on a fast-track as the CBDT has asked tax sleuths to quickly gather all foreign-based evidences in these cases and render final action by March-end.
Advocate Prashant Bhushan, who is one of the petitioners in the black money case, makes a case for the revelation of all the names of account holders that the government has submitted to the Supreme Court.
Experts say a lot of new wealth is being generated by promoters selling their stake.
In a video message, Kejriwal asserted that he will prefer to die than stray from AAP's principles, adding the same rule will apply to himself and all other senior leaders.
India ranks low at 105th on human capital index, Finland tops
The documents show that HSBC opened Swiss accounts for international criminals, businessmen, politicians and celebrities, according to the ICIJ.
The head of India's largest private sector bank, who is in Davos in this Swiss Alpine resort town for the World Economic Forum Annual Meeting, said that the central bank has already in its last policy statement, indicated monetary policy easing in the fourth quarter of the current fiscal.
India and a large number of other countries, including Switzerland, have adopted a global declaration for automatic exchange of tax information under auspices of OECD.
Citing national security and confidentiality clauses, the Finance Ministry has declined to disclose information on exchange of correspondence among India, Swiss and German authorities in connection with the black money probe.
Banned UEFA President Michel Platini's Panamanian bank account was declared to the authorities in Switzerland, where he lives, his lawyer said in an interview published by French newspaper Le Figaro on Tuesday.
A customer wanting to buy a car would have to wait a long time for delivery.
Clearly, rich Indians have little confidence in India. Perhaps we are also chronically dishonest.
It would seem when it comes to secrecy on bank accounts the Indian government seems to have a tacit arrangement with the Swiss -- even if the Swiss fail in protecting the identity of crooks, India will, says M R Venkatesh.
The bank has been at the centre of the black money and tax evasion scandal.
According to the provisions of the treaty, the decision of Professor Lafitte on all matters within his competence is final and binding.
The second and final part of advocate Prashant Bhushan's interview with Sheela Bhatt/Rediff.com. Bhushan is one of the petitioners in the black money case in the Supreme Court
The second and final part of advocate Prashant Bhushan's interview with Sheela Bhatt/Rediff.com. Bhushan is one of the petitioners in the black money case in the Supreme Court
A 31-year-old staffer was arrested in the early hours of Thursday for causing a $2-billion loss to Swiss investment banking giant UBS on account of unauthorised trading at the bank's London office.
The so-called 'fourth industrial revolution' will bring ever faster cycles of innovation, posing huge challenges to companies, workers, governments and societies alike
India and Swtizerland have a tax treaty under which specific information on tax evaders can be shared. But as the HSBC Bank accounts have been opened before 2011 -- when the treaty became effective -- the I-T department has asked HSBC account holders to give an undertaking under the secrecy laws.
The scandal surrounding Lalit Modi serves as a reminder for how similar our mainstream political parties are in resisting institutional reform.
Government may bring a new law on black money during the ongoing Parliament session.
This is the third instance when outsourcing of key oversight jobs by global banks to India has come under the regulatory scanner abroad for ineffective controls against suspicious financial transactions.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
The demonetisation move will force the Modi government to battle with a policy dichotomy, says N Sathiya Moorthy.
World Cup sponsors are in an awkward position, experts said, because they are under pressure from consumers to distance themselves from any corruption, but such sponsorships are lucrative in the long term.
About Rs 1,282 crore has been levied as tax in 159 cases pertaining to concealment of tax due to the government
A Swiss sojourn may start at Alpines but its real charm lies in Interlaken, says Geetanjali Krishna.
The euro skidded to a 6-week low of 133.700 yen in the early session.
The 30-share Sensex provisionally ended up 46 points to end at 28,122 and the 50-share Nifty gained 20 points to close at 8,514.
The CBI filed the appeal against the May 31, 2005 decision of the high court by which all accused, including Europe-based industrialists Hinduja brothers, were discharged from the Rs 64-crore pay-off case.
FIFA chief Sepp Blatter, who is standing for re-election as FIFA president on Friday, added that the investigations will help to reinforce measures world soccer's governing body has already taken.
FIFA Secretary General Jerome Valcke Valcke on Wednesday dismissed allegations of wrongdoing over $10 million in bank transactions that are under investigation by U.S. authorities.
As India and Switzerland prepare to renegotiate the Double Taxation Avoidance Agreement, the Swiss government said it was confident that the pact would be finalised by next year.
'Even with the restrictions of depositing more than Rs 2.5 lakh in a bank, people will find new methods to convert this cash hoard into legal tender.'
India will begin its first round of consultations with the Swiss government on tracing black money stashed by Indians in banks in that country in December, but there is no guarantee of prosecution of offenders on the basis of information secured from them.
It is difficult to understand why Johnny Depp agreed to make Mortdecai, says Paloma Sharma.
