After Air India, Britain's Cairn Energy PLC plans to target assets of state-owned firms and banks in countries from the US to Singapore as it looks to ramp up efforts to recover the amount due from the Indian government after winning an arbitration against levy of retrospective taxes. A lawyer representing the company said Cairn will bring lawsuits in several countries to make state-owned firms liable to pay the $1.2 billion plus interest and penalties that are due from the Indian government. Last month, Cairn brought a lawsuit in the US District Court for the Southern District of New York pleading that Air India is controlled by the Indian government so much that they are 'alter egos' and the airline should be held liable for the arbitration award.
School dropout Mahashay Dharampal Gulati, famously known as 'MDH Dadaji' for repeated appearance in his spice brand's television ads, started his spices business journey in a nondescript shack in Delhi's Karol Bagh after selling his tonga, and went on, at the age of 94, to becoming the highest-paid CEO in the country's FMCG sector.
The company is banking on investments lined up for product development and other innovations.
A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of $1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute. The New York district court delayed the tax suit to November 18, according to court documents reviewed by PTI. This follows Cairn Energy and Air India jointly asking the court to stay further proceedings in view of the fresh government enacting a fresh law to scrap retrospective taxation in the country.
'Rishi is brought up with Indian values -- Indian qualities like respect our parents, respect our uncles -- but he is more British.'
'An internationally established price of crude will encourage more players to invest in India, leading to enhanced domestic production which can be made available to domestic refineries,' recommends Anil Agarwal whose company Vedanta Resources has a controlling stake in Cairn India that operates the country's biggest onland oilfield in Barmer, Rajasthan.
The exploration company will buy back shares from January 23 and extinguish them.
To lure health-conscious consumers, who prefer lower intake of sugar, Mondelez is launching a variant of its most sold product Dairy Milk bar with 30 per cent less sugar.
If one leaves aside 2016, when sales declined 4.68 per cent, the pace of growth in 2018 is the slowest in a decade, according to IHS Markit, a sales forecast and market research firm.
'Each plate sold sponsors 250 meals for a worker's family.' 'Our goal is to provide 100,000 meals within the next month.'
During a series of hectic talks between Cairn Energy and the Indian government over the $1.2-billion arbitration award in favour of the former last week, a slew of options was proposed by the two sides, including computation of capital gains and participation in the Vivad se Vishwas (VsV) dispute resolution scheme. The government is likely to go ahead and appeal against the arbitration award by a Permanent Court of Arbitration at The Hague before March 21, indicated finance ministry officials. Cairn Energy Plc on Sunday said it was hopeful that an acceptable solution to its tax dispute with the Indian government could be found to avoid prolonging and exacerbating the 'negative issue' for all parties.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
Scores 0 on front seat protection and 2 stars for rear seat child occupant protection
'Cyrus was always very different. He would think before acting.'
Reva, the only electric car which, is exported to the UK market from India, may get a red signal from the UK government, owing to revised safety norms proposed by the UK Department of Transport.
Schuldschein is an alternative way to raise funds instead of loans or bonds and deals can run from $12 million to more than $1.13 billion. These instruments include tranches of different maturities and currencies and investors are spread across the world.
Christopher Wylie deposed before the House of Commons Digital, Culture, Media and Sport Committee amid an escalating row around alleged Facebook data breaches linked with the controversial UK-based company, which has also been linked with alleged attempts to influence elections in India.
The mobile phone manufacturers are planning to plead with the government that the new rules suggested by the DoT could leave them with no option but to stop introducing new phone models in the country if the stringent rules are eventually approved.
The sabre, or a curved sword, has been identified as a gift to a British officer for his success in suppressing a siege in Lucknow during what India describes its First War of Independence.
The interesting find was how people perceive health insurance in India. It is seen as an instrument to protect savings.
The Income Tax department, which is probing Cairn Energy plc's transfer of India assets, has asked the UK-based company not to dispose of its 10.3 per cent holding in Cairn India.
Prime Minister Narendra Modi on Saturday visited a Tata Motors-owned Jaguar Land Rover factory in the West Midlands region of England that is known as the flagship Indian investment in the UK.
The company, which opened its second dealership in India here, plans to add a third one in Bengaluru for which it is in discussions with a local partner.
GST has been hanging fire with the Opposition Congress yet to come on board
'...to come back to power because it was not doing well.'
The company has not been able to sell its 9.8% stake in Cairn India
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
'Reports of hitherto 'atmanirbhar' breadwinners having to stand in line for a plastic bag of khichdi or, travelling thousands of kms with nothing but packets of biscuits, have not moved the prime minister,' observes Jyoti Punwani.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
Cairn, which is sitting on a cash pile of about $3 billion, in a statement said its board has approved buying 17.09 crore shares or 8.9 per cent of the total shareholding, from open market at no more than Rs 335 apiece.
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The company, which sells luxury products, including brands like Cartier, Piaget, Panerai and Montblanc, has also sought few clarifications from the government on conditions for selling sub-brands from the same stores, according to sources.
Canadian regulator did not find any health risk in consuming Maggi noodles
There is disquiet and discomfort in the citizenry that can be touched and felt. No one is talking, but then, the Indian voter has not talked much -- with the conviction that all that goes up has to come down, observes N Sathiya Moorthy.
Until 2014, Discovery's channels were distributed as part of a joint venture with Multi Screen Media.
The two nations share a problem of corporate debt gone bad that is so large and opaque.
Rough estimates from plantation companies have pegged production loss in excess of 100 million kg (mkg) across India which is valued at around Rs 2000 crore. Usually, plantation companies in Assam and West Bengal produce around 15 per cent of the total tea during March-April.
The need for larger investment in infrastructure that is the biggest shortcoming, says A V Rajwade.
Sale of India's specialty tea varieties from exclusive estates in Assam and Arunachal Pradesh are on the rise in the domestic market, and sought after in overseas markets too.
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