TRAI today made it mandatory for telecom operators to compensate consumers by one rupee for call drops with effect from January 1, 2016.
Tax experts say one of the most dispute-prone proposals is making "fraudulent availing" of input tax credit (ITC), without an invoice or bill, a cognizable and non-bailable offence.
NSE's board was to approve on Friday the annual financial statement for the year ended March 31, 2019, but it decided to defer the matter till its legal team firmed up a view on Sebi's order, sources said.
'NSE has thousands of employees. It is their institution. So it's a dear family.' 'One should not hurt the morale of these people.'
Lawyers representing govt point out that telcos, because of the large money they can save if they get a favourable judgement, prefer to fight till all legal options are exhausted
The decision was taken on October 3.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
The Supreme Court ordered state-run power producer NTPC on Friday not to disconnect power supplies to distribution companies in the capital New Delhi until March 26, averting a potential blackout next week.
Reliance Petroinvestments, a subsidiary of Mukesh Ambani-led Reliance Industries Ltd (RIL), has approached the Securities Appellate Tribunal against the capital markets regulator, which imposed a Rs 11-crore (Rs 110 million) penalty on the company in the Indian Petrochemicals Corp Ltd (IPCL) insider trading case.
Sahara Counsel told the court that negotiations were underway for selling Sahara Group's offshore properties for raising sufficient fund for Subrata Roy's bail.
Jio's revenue increase was phenomenal in many circles: In Haryana, the RMS gain was 13 percentage points; in Bihar, 20 percentage points; in Odisha, 15 percentage points; and in Assam, 11 percentage points. However, incumbent telcos said this increase was only in three quarters, and it happened because of an order by the Telecom Regulatory Authority of India, which tweaked the definition of significant market player (SMP) for predatory pricing.
The Bombay High Court on Thursday stayed a new income tax demand of Rs 3,000 crore (Rs 30 billion) on Vodafone India Services in an alleged transfer-pricing case from 2010-11.
The case is likely to come up for hearing on Monday.
The earlier resolution allowing these developers to charge higher power tariffs, now stands cancelled.
The ED has now seized the property, agency sources said.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
The Tax Administration Reform Commission submitted report to Jaitley in June 2014.
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.
After hearing the petition, filed by the country's largest real estate developer last week, the Tribunal adjourned the matter till October 30 next week, as it sought a response from capital markets regulator Securities and Exchange Board of India on DLF's plea for an interim relief.
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
A Sebi spokesperson did not respond to an email seeking comments.
The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
RInfra's plan to lease out headquarters property may face legal hurdle. Moreover, PE players with balance sheets that can take on Reliance Centre Office in Santacruz would be limited and include a handful of players such as Blackstone group, GIC, Brookfield Asset Management and Maplewood Investments.
NCLT in its judgement said: "The removal of Cyrus Mistry as executive chairperson was because the board lost confidence and not because they were contemplating that he would cause discomfort to Ratan Tata, N Soonawala and others.' "The Board is competent to remove an executive chairman. Mr Mistry's removal from the position of director came because he admittedly sent out company information to the I-T (department), press, and came out in public against the board and the trust."
Sebi has asked exchanges to appoint independent auditors to conduct forensic audit of these firms for verification, including their credentials/financials.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
Called Signature Villa, the property was gifted to him by Nakheel Public Joint Stock Company. The dispute was over whether this was a gift or payment for services Khan had rendered to the company.
Recently, an Air India flyer sent a legal notice to the airline seeking damages of Rs 30 lakh for the breach of personal data of 4.5 million passengers, including her husband and herself. Air India had informed the complainant of the data leak a month earlier, after it emerged that its passenger service system provider fell prey to a cyberattack in February. However, in the absence of a data protection law, India lacks a mechanism for compensation or grievance redress of consumers in such cases, say experts. Advocate Virag Gupta, a New Delhi-based cyber law expert, explains that a legal notice is a good beginning in the Air India case, but it raises many questions. These include whether sensitive personal information has been leaked and whether the airline is responsible or not, given that a passenger service system provider was also involved.
If you are merely letting out the property and enjoying the rent as an individual or as a company, in most cases, you will need to mention rental income under the head 'income from house property' in the income-tax return form, points out Tinesh Bhasin.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
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The Union government's offer of settling the retrospective taxation case with Cairn Energy may hinge on Vedanta withdrawing the ongoing arbitration from the Singapore Tribunal on the same issue. The government has offered to refund Cairn Energy Rs 7,900 crore that it had collected under the retrospective tax demand on fulfilment of certain conditions, including withdrawal of pending litigation and furnishing of an undertaking to the effect that no claim for cost, damages, interest, etc., would be filed. This condition is also part of the Taxation Laws (Amendment) Bill, 2021, passed by Parliament recently.
'I clearly recall how you immediately directed your administration to identify and allocate land, water, and other clearances in the shortest time possible.' 'That was the fastest decision-making process I have ever witnessed.'
In an open letter to Zee's shareholders, Invesco, which holds a 7.74 per cent stake in the firm, reiterated its demand for an overhaul of the media group's board and that it would pursue extraordinary general meeting (EGM) to oust chief executive Punit Goenka and two other directors. Last month, Sony Group Corp's India unit signed a non-binding offer to buy Zee.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
CCI had imposed a penalty of Rs 630 crore on DLF in August 2011.
Ahead of the film's release, the godman addressed the media in Mumbai to clear the air about any misapprehension.
58-year old Vinod Hingorani had defaulted on penalties of Rs 1.64 cr
Auto and index heavyweights Reliance Industries and ITC were the top losers in early trades.
A Parliamentary Committee on Wednesday recommended a composite foreign investment cap of 49 per cent in the insurance sector and supported a government Bill to amend the Act.
