Air India has asked a New York court to dismiss a petition filed by Britain's Cairn Energy for seizure of its assets to enforce $1.2 billion arbitral awards against the Indian government, saying the litigation was premature as an appeal against the arbitration award was still pending. The petition by the airline, which is separate to Indian government's plea in a Washington court seeking dismissal of Cairn's lawsuit to seek confirmation of the arbitral award, said the New York district court lacks jurisdiction to adjudicate a "mere hypothetical question" or one that depends upon contingent future events that may or may not occur. Cairn first moved a court in the US District Court for the District of Columbia seeking confirmation of the arbitration award and then filed a petition in the New York court to seek declaration of Air India as "alter ego" of the Indian government and so it should be made liable to pay the $1.26 billion arbitral award.
As per the report, out of 612 candidates, 168 (27 per cent) are crorepatis.
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
Non-compliance, underreporting or misreporting will attract a penalty of 50-200 per cent. The authorities may during assessment even tax assets that are 15-20 years old
The BJP has 17 out of 53 candidates (32 per cent) with criminal cases. The Congress has 11 out of 39 (28 per cent) candidates with criminal cases.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
A sixth bowler, preferably seam or pace option, has been India's major headache for past two and half years due to Pandya's injury and now the team management is "excited" looking at what Venkatesh brings to the table with his multiple skill-sets.
The so-called soil scam has left Lalu alone in the Mahagathbandhan.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
After an all-party meeting in New Delhi, Parliamentary Affairs Minister Pralhad Joshi also said that some of these 32 bills have already been discussed by standing committees of Parliament.
Vice President Dhankar's and Law Minister Rijuju's recent interventions have the danger of destabilising the Constitutional equilibrium, cautions N Sathiya Moorthy.
Karnataka goes to polls in about a fortnight and the Bharatiya Janata Party and the Congress is going toe-to-toe to win the elections, results of which will be announced on May 15. Here's a simple guide to all things about the Karnataka polls.
In the newly elected Rajasthan Legislative assembly, 145 out of the 199 members of Legislative Assembly are crorepatis. In a report by the Association for Democratic Reforms, it is stated that the crorepati percentage in the Rajasthan Assembly is 73 per cent.
The National Election Watch and Association for Democratic Reforms have analysed the affidavits of 165 MPs who were elected again in the 2014 Lok Sabha elections.
Kumar's son Nishant possess both movable and immovable assets of Rs 2.36 crore which is a little more than four times than what his father owns.
A total of 635 declarants have filed declarations declaring undisclosed foreign assets worth Rs 4,160 crore.
The ten richest among the 199 candidates in fray in the first phase of polling for Jharkhand assembly belong to Palamau division, according to an NGO involved in election watch.
Suvendu Adhikari, the Bharatiya Janata Party candidate against Mamata Banerjee in Nandigram, Monday said he has sought rejection of the nomination of the West Bengal chief minister for not declaring six criminal cases against her while filing her papers.
The average asset of a Rajya Sabha Member of Parliament is Rs 20.17 crore, says a report by the Association for Democratic Reforms. It also says that 67 per cent of Rajya Sabha MP's are crorepatis.
24% claim exemption from income tax or say they have no income at all, discovers Manoj K.
The Shiv Sena is leading currently in terms of criminal candidates. Out of the 14 declared by them in the first list 12 have a criminal background, as per the Association for Democratic Reforms.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
Personal loans have about 80 per cent share in exposures restructured under regulatory package 2.0 by eight banks who have declared results for the second quarter. The remaining 20 per cent are loans to individuals used for business and credit to MSMEs. The total recast exposure of these banks under One Time Restructuring (OTR 2.0) was Rs 27,708 crore.
Out of the 167 candidates, 54 are crorepatis. Manipur Election Watch and Association for Democratic Reforms ADR said.
Notification, FAQs likely after FM Jaitley returns from the US
Irani has said she did not complete her Bachelor of Commerce (Part-I) -- a three-year degree course -- from Delhi University's School of Open Learning in 1994.
'Bumrah is unique and at the moment, he is one of the best.'
As per the election affidavit of Dr Harsh Vardhan of the Bharatiya Janata Party, which is listed on the Election Commission of India website, a first information report (number 519/2013, in Madhu Vihar police station) has been filed against him under Sections 34, 323, 509 and 506 of the Indian Penal Code.
An Association of Democratic Reforms report states that 161 out of 230 MLAs in the newly-formed Madhya Pradesh Vidhan Sabha are crorepatis, while 73 MLAs have criminal cases filed against them.
Last week, the government had introduced the black money Bill.
As per the affidavit, he was booked under Indian Penal Code Sections 147 (rioting) 149 (rioting, armed with deadly weapon), 436 (arson), 332 (causing hurt to deter public servant), 143 (unlawful assembly) and 380 (theft).
A latest survey by the Association for Democratic Reforms reveals that 14 criminals and 50 crorepatis will be contesting the upcoming Rajya Sabha elections.
The party bagged 11 of the 25 seats, from 20 Local Authorities' constituencies in the state, for which the biennial election was held on December 10, and counting was taken up today, poll officials said.
Sebi on Friday imposed a penalty of Rs 50 lakh on Kotak Mahindra Asset Management Company (AMC) and barred the fund house from launching new fixed maturity plan (FMP) scheme for six months for violating regulatory norms. The markets regulator has directed the fund house to refund a part of the investment management and advisory fees collected from the unitholders of the six FMP schemes along with a simple interest at the rate of 15 per cent per annum. The case relates to the fund house's investment in certain FMPs. These FMPs of Kotak AMC had invested in Zero Coupon Non-Convertible Debentures (ZCNCDs) issued by Essel Group entities.
The manner in which India has allowed the rule of law to be subverted for over eight years is tragic, notes former additional solicitor general of India Bishwajit Bhattacharyya.
Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016.
The Trinamool Congress (TMC) on Wednesday demanded the cancellation of the nomination of Bharatiya Janata Party candidate Suvendu Adhikari, who is pitted against West Bengal Chief Minister Mamata Banerjee from Nandigram, as his name also 'seems to appear' in the electoral roll of Haldia constituency.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
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