The FTSEurofirst was on course for its worst one-day per centage fall since it slumped more than 7 per cent in October 2008
As the government submitted a list of 627 foreign account holders to the Supreme Court on Wednesday, the spotlight is on family of former Maharashtra chief minister, former minister in the UPA government, a Mumbai-based corporate among others. Vrishti Beniwal reports
The Income Tax department is likely to initiate prosecution against close to 300 people whose names have been submitted to the Supreme Court in connection with the probe into alleged black money accounts in HSBC Bank in Geneva.
Bidding for a record-extending ninth Australian Open title, the world number one and double-defending champion remains the runaway favourite at his favourite Grand Slam where he once remarked that he felt touched by the "divine".
If foreigners need reasonable taxes, why offer citizens something else? If foreign businessmen look for assurance on the rule of law, so do citizens, argues T N Ninan.
The former finance minister also criticised Prime Minister Narendra Modi over the words he chose to attack his predecessor Manmohan Singh, saying he should remember that the Chair he sat on was used by Pandit Jawaharlal Nehru and even Atal Bihari Vajpayee and hence he should use right language.
Reliance joins a number of large companies, including the Essar and Adani groups, which are raising loans abroad as interest rates in India remain high.
'What does the nation get out of the CBI's fabulous infrastructure? Very little that is useful.'
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.
The central probe agency had filed a money laundering case to probe the deal and is carrying out the action to collect evidence under the Prevention of Money Laundering Act (PMLA), officials said.
Herve Falciani, who refused to appear for trial in Switzerland, has been charged of industrial espionage.
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
In a relief to Sahara, a US court has rejected a plea seeking to attach the Indian group's prized Plaza and Dream Downtown hotels.
This is because no prosecution complaint has been filed in any of these cases under the Black Money Act.
Modi urged the Swiss business leaders to explore the investment opportunities in India.
Suspended FIFA President Sepp Blatter appeared before the ethics committee of world football's governing body on Thursday in a case that could end with him banned from the sport for years.
With his strong views on Bharatiya economics, his appointment to the RBI board may well presage interesting times, says Archis Mohan.
The CBI also carried out searches at the residence and office of controversial arms dealer Sanjay Bhandari in connection with the deal
Switzerland has been facing international pressure as countries step up efforts to curb illicit fund flows.
There were as many as 628 names in the HSBC list.
'Given the past record, no one will be prosecuted, especially since the beneficiaries comprise the most powerful people in the country. They will pay a fine and be let off.'
Continuing to shed its famed banking secrecy veil, Switzerland today made public more names about which it has been approached from abroad for information, even as it published fresh gazette notifications about two Indians -- Sayed Mohammed Masood and Chand Kauser Mohammed Masood.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
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.
The details Mallya filed earlier in his disclosure statement about his foreign properties do not have reference of cash in hand or bank details
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
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.
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.
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.
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.
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.
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.
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.
A customer wanting to buy a car would have to wait a long time for delivery.
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.
Clearly, rich Indians have little confidence in India. Perhaps we are also chronically dishonest.
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