BK Modi-promoted Spice Group and British Virgin Mobile have bid for MTNL's franchise deals to offer 3G services in Mumbai and Delhi.
Most investments by Indian corporate houses in the overseas market is through countries that have either low tax rates or allow tax-free remittance of income. Much of the outward foreign direct investment (FDI) by India Inc done between April and December 2007 was directed to Singapore, the Netherlands and British Virgin Islands (BVI), according to the latest Reserve Bank of India data. RBI said the actual outward FDI in April-December 2007 grew 13 per cent at $10.11 billion.
Switzerland and Caribbean islands? Sure. But Alaska and Nevada are getting in on the game.
Obama and his wife Michelle are enjoying their new-found freedom holidaying in the British Virgin Islands with British billionaire Sir Richard Branson. Sir Richard posted an online blog showing pictures and video of the former president kitesurfing at his private island.
Britain has become the biggest foreign investor in India with an investment of 560 million, according to a report on investment flows by the Commonwealth Business Council (CBC).
Meanwhile, the Board has given the names of Hardik Pandya and Dinesh Karthik as India's representatives in the World XI team that will play West Indies in a charity Twenty20 match at the Lord's on May 31.
The company will also make a $500 million (Rs 2,000 crore) investment through the acquired company in the next 2-3 years to build and acquire WiMax networks across 50 countries. Worldwide interoperability for microwave access or WiMax is a telecommunications technology that provides wireless data over long distances through various mediums. This is the third acquisition by the company as it had acquired US-based ethernet services provider Yipes Holdings for $300 million.
Medals tally of the 2018 Commonwealth Games in Gold Coast.
A consortium of Indian public sector banks led by SBI sought a bankruptcy order against embattled liquor tycoon Vijay Mallya during a high court hearing in London on Wednesday as part of efforts to recoup around 1.145 billion pounds in unpaid loans. Mallya's legal team, led by barrister Philip Marshall, argued for the bankruptcy petition to be dismissed because their client was being unfairly pursued by the banks in India and the UK on opposing grounds.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
The note guides taxman to avoid seeking voluminous details.
With Google CEO Larry Page's wedding planned for Dec. 8, BusinessWeek takes a look at what billionaires risk when they tie the knot.
Ahmed Tilly, the creative director of the advertising agency behind the ad, said "Gandhi was used as a political figure".
When Bastian Obermayer and Frederik Obermaier shone a light on the Pandora's Box that became famous as the Panama Papers, even they didn't know how it would shake up the murky world of finance, indeed the world itself.
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.
Celestial Overseas Ventures, a British Virgin Island-based investor, plans to acquire five per cent stake in electronics major BPL Limited, thus taking up the foreign equity component in the Bangalore-based firm to 5.57 per cent.\n\n\n\n
An Indian telecommunications firm is among six companies fined a record Rs 3.6 crore (Rs 36 million) after they were held responsible for a series of telephone and text message frauds in the United Kingdom.
When contacted, Raninder said said he has nothing to hide and was willing to cooperate on the issue.
The Indian Cricket Board has incorporated strict guidelines in their 19-page 'Request For Proposals' (RFP) from interested companies.
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.
India's Hardik Pandya and Dinesh Karthik join an ICC World XI for the high-profile Twenty20 International against the West Indies at Lord's in London on May 31, being organised to raise funds for stadia in the Caribbean damaged by hurricanes last year.
He also claimed that even the news report had not suggested any wrongdoing on his part.
Phantom FDI refers to investments that pass through shell companies that have no real business activities and are tailor-made to cut tax liabilities.
The ED had filed six cases in the Additional Chief Metropolitan Magistrate (Economic Offences Court-I) which had discharged the duo in two cases in 2015 and directed them to face the trial in other cases.
Given how everything has played out, Mehul Choksi, now 62, achieved all that he wanted but for all the wrong reasons, says Pavan Lall.
Formula One world championship leader Nico Rosberg's contract with the Mercedes team has shown up in the Panama Papers, leaked documents which reveal offshore financial dealings, German broadcaster ARD reported on Monday.
The Panama Paper leaks were originally revealed by the International Consortium of Investigative Journalists on April 4, 2016, following which, the government had set up the MAG to probe the matter.
The Singapore high court has put a freeze on deposits of $ 6.122 million following Enforcement Directorate's request on the ground that the money was "proceeds of crime" illegally siphoned off by Nirav Modi from the Punjab National Bank.
Equity inflows worth $3.7 billion came from the sunny Caribbean jurisdiction in 2019-20, a 267 per cent increase from the $1 billion registered in 2018-19 making it India's 10th largest source of FDI.
British Virgin Islands, Mozambique, the Netherlands, Mauritius and Singapore were the top five nations where Indian firms made investment of $9.6 billion in the last three years.
He is the first high-profile person who has deposed before the ED in this case.
The government has questioned two members of Parliament whose names figured among a list of 498 persons with offshore bank accounts in locations like the British Virgin Islands.
Branson was cycling with his two children on the British Virgin Islands when he hit a hump in the road.
In a relief to liquor baron Vijay Mallya, the high court in London has deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover a loan of around 1.145 billion pounds from him. Justice Michael Briggs of the insolvency division of the high court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka high court be determined, allowing him time to repay his debts to the banks in full.
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
The match is being organised to raise funds for stadia in the Caribbean, which were damaged due to hurricanes last year.
He also invited all politicians accusing him and his family to present evidence of any financial wrongdoing before the judicial commission.
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