The Supreme Court on Friday stayed criminal proceedings against former chairman of Wipro, Azim Premji, and his wife on their plea seeking quashing of the summons issued by a Bengaluru trial court on a "frivolous"and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three firms with a Premji group firm. A bench of Justices Sanjya Kishan Kaul, Dinesh Maheshwari and Hrishikesh Roy also issued notice to an NGO, Indian Awake for Transparency and others and sought their response. Senior advocates Mukul Rohatgi, A M Singhvi appearing for Premji and others said that the complaint was "mischievous" in nature.
Koda, Basu and two accused public servants conspired to favour VISUL in the coal block allocation, the agency alleged.
No promoter is allowed to advertise, market, book, sell or offer for sale, or invite persons to purchase any plot, apartment or building, in a project without registering with the authority.
'If my understanding is correct, one has to file not less than 37 returns per year for every ordinary business, and that too per state.' 'If you are doing businesses in Chennai, Bangalore and Hyderabad, you have to file 37x3 returns every year!' 'The consequence of GST will be chaos, confusion and possibly economic crisis.'
Their bank accounts have been frozen. State governments have been told to restrict sales and transfers of real estate assets these companies own.
Veena Mani reports.
Sushant Singh Rajput's sister Shweta Singh Kirti posted a cryptic quote on her social media platforms saying people should think about the consequences before messing up with someone.
Sebi on Monday barred Franklin Templeton AMC from launching any new debt scheme for two years and fined it Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to the six debt schemes, Sebi said in its 100-page order. In a separate order, the regulator has barred Vivek Kudva, former head of Asia Pacific (APAC) for Franklin Templeton, and his wife Roopa from the securities market for one year for redeeming units of Franklin Templeton MF schemes while in possession of non-public information.
The appointment will be effective January 20, 2014, the company said in a statement.
The former finance minister also objected to the filing of a Rs 100 crore defamation suit against The Wire, which carried a story on Jay Shah's business.
Unless Punjab has a chief minister who is able to look beyond community/vote bank politics, carry all sections of society, stop appeasing while addressing genuine concerns and break the stranglehold of the SGPC over Sikh affairs, my beloved home state is bound to die and conversions will be rampant, warns Sanjeev Nayaar.
The ban has been in force since last Friday.
CBI has also summoned a senior official of Reliance Industries Limited and a noted chartered accountant.
However, Deloitte, the latter entity, says regulations don't mandate it to go beyond a basic examination of the books of accounts.
The CFO will formulate the accounting policy of the bank, maintain the internal accounts and report financial results, and carry out corporate strategy functions like PF policies.
'Love will always be a mystery.' 'The day it stops being a mystery it won't exist.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Rediff readers take the 10YearChallenge and tell us what has changed since 1999.
The investigation under FEMA was taken up by ED based on a reference received from RBI to investigate advance remittances received by certain entities for the purchase of the shares of Tamil Nadu Mercantile Bank through escrow mechanism maintained with Standard Chartered Bank, Mumbai.
With the Nifty50 just about 3 per cent away from its all-time closing high of 18,812 points, analysts at BofA Securities suggest investors book profit. Their reasons for the advice include risks like the possibility of a cut in corporate earnings growth forecasts, high valuation (one-year forward P/E of 19.5x), interest rates staying elevated for longer-than-expected and credit tightening. Going ahead, they expect the Nifty50 index to drop to 16,000 levels - down nearly 12 per cent from the current level of 18,255 points, which they believe would be a good time to buy.
The court will pronounce the order on quantum of sentence on May 22.
Under Section 80D, you can avail of deduction on payment made towards preventive health check-ups.
The Delhi high court on Friday advanced to December 10 the hearing on pleas to declare the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund a 'State' under the Constitution and a 'public authority' under the Right to Information Act to ensure transparency in its functioning.
Senior Congress leader Shashi Tharoor on Tuesday attacked the Centre over the glitches in the new income tax portal, alleging that even after spending Rs 4,200 crore on it, the government had "failed" to make it user-friendly and created a "mess" instead.
The apex court had said in previous judgments that only fresh leases were to be granted by the Goa government, not second renewals.
After taking action against 226,000 shell companies last year, the ministry of corporate affairs has now zeroed in on a fresh batch of suspected shell companies.
The tax department will remain a source of endless nightmares for citizens and 'transparent taxation' will remain an empty slogan and a cruel joke, observes Debashis Basu.
Observing that the issue concerning the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) is 'not so simple' the high court asked the Centre to file a 'detailed and exhaustive' response in the matter.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Rajesh Agarwal, the chartered accountant, was allegedly instrumental in providing accommodation entries to many high-profile people to help launder their funds.
IT major Infosys on Thursday acknowledged that some users continue to experience difficulties in accessing the income tax portal and assured that it is working expeditiously, in collaboration with the income tax department to further streamline end-user experience.
'I wasn't getting the roles I wanted to play and the respect I thought I deserved as a senior actor, so I cut myself off from the industry for a while and moved to the US.'
RIL's stake in Network18 would reduce to 64 per cent, from 75%, following the merger
Opposing the Centre's stand that the PM CARES Fund was not a government fund, a lawyer told the Delhi High Court Wednesday that there was no factor to show that the fund was private in nature.
Raiji, also a cricket historian and chartered accountant, was 13 when India played their first Test match at the Bombay Gymkhana in South Mumbai.
The mercy plea of Yakub Abdul Razak Memon, a death-row convict in the 1993 Mumbai serial blasts, has been rejected by President Pranab Mukherjee.
The PM CARES Fund is not a Government of India fund and the amount collected by it does not go to the Consolidated Fund of India, the Delhi High Court has been informed.
The demand for full-stack developers in India have seen a 20% increase in the last one year.
The number of serious incidents has more than doubled in the last seven years.
'Criticism of Uddhav suits the NCP perfectly.' 'NCP members head key ministries in Maharashtra like home, finance and health, yet as chief minister it is Uddhav who is criticised for the state government's shortcomings.' 'Few hold NCP chief Sharad Pawar accountable for the performance of NCP ministers,' argues Sanjeev Nayyar.
All-rounders in Indian cricket are a rare commodity and the newest entrant to the club, Venkatesh Iyer, knows only too well that he has to keep his focus on both aspects of the game in order to remain relevant.
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