Instead of only government departments and state-owned undertakings, the CAG can now audit private companies, too.
Agreement between Bharti Airtel and Loop Mobile, which offers mobile services in Mumbai, expired on October 31
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
This is not the first time Trai has been accused of bias; and, in my memory, never have such charges of bias been leveled against any other regulatory body, says Rahul Khullar.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
Vodafone's long-pending tax dispute with the government might be heading for a resolution, with the finance ministry considering changing the Income-Tax Act's retrospective amendment and taxing indirect transfer of assets prospectively from 2012, the year the law was clarified.
Unlike Reliance Jio's focus on 4G, it plans to segment the data market based on device prices and spectrum.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
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