Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
Finance Minister Arun Jaitley on Friday said as many as 37,506 tax dispute cases were pending before various Income Tax Appellate Tribunals having a financial implication of Rs 1.45 lakh crore at end March 2015.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
The judge said the defendant woman being a homemaker, though she did not make any direct financial contribution, she played a vital role in managing the household chores by looking after the children, cooking, cleaning and managing day-to-day affairs of the family without giving any inconvenience to the plaintiff who had gone abroad for work.
The government's financial package to telecom operators has irked the paging industry which has filed a petition in TDSAT, seeking compensation from the government saying that cellular operators were "killing" them by offering SMS facility.
'Not only are Muslim homes and shops being bulldozed, but the cops are filing random FIRs even against people who died two-three years ago, against those who have moved to neighbouring states since almost two years to work there.'
Manchester City cut their financial losses en route to the Premier League title last season, leaving the English champions to believe they will not fall foul of UEFA's Financial Fair Play regulations again.
Edtech major Byju's on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the $1.2 billion Term Loan B (TLB). The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt. "Byju's has had to take these measures following a series of predatory tactics by the lenders, led by Redwood," the company said in a statement.
'Over 200 of Australia's most senior cricketers are unemployed as of the 1st of July'
A senior Crime Branch official has ruled out the involvement of the underworld in the threats, saying the calls were believed to be the outcome of some property dispute.
Non-compliance can also result in legal complications and disputes with the tax authorities.
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
Mukerjea, was brought to the state-run hospital in central Mumbai around 7.20 pm, after she complained of headache, double vision and restlessness
Mobile phone manufacturer Oppo has lodged an appeal with the Supreme Court against an order from the Delhi high court. The order requires Oppo to submit a security payment related to the India portion of the last-paid licence fee to Nokia in an ongoing patent infringement case. The case is slated to appear before the bench of the Chief Justice of India, D Y Chandrachud, on August 4.
Hell has no fury like a woman scorned and after Shoaib Malik, another top Pakistani cricketer Mohammad Asif is learning it the hard way as he has been taken to court by a former lover over a financial dispute.
The Uttar Pradesh government suspended two policemen in Muzaffarnagar and Bijnor districts on Tuesdayand issued warning to others for getting into border disputes over bodies of Uttarakhand flood victims recovered from the River Ganga, a senior official said in Lucknow.
A court ruled in favour of Vodafone on Friday in a long-running dispute with the Indian taxman, a boost for the British telecom group whose tax battles have been seen as emblematic of the troubles facing foreign investors in India.
The Sahara Group on Wednesday accused the BCCI of "betrayal of trust" while rejecting claims of the Board that the IPL team is to be blamed for the controversy surrounding the franchise fee, leading to Pune Warriors pulling out of the Twenty20 tournament.
The Board of Control for Cricket in India rejected the Sahara Group's claim that it failed to expedite the arbitration process to reduce franchisee fee, saying it acted as per rules and is not responsible for the situation.
Kaushik attended a Holi party, held at the Delhi farmhouse of businessman Vikas Malu where, at midnight, he complained of chest pain and was taken to a Gurugram hospital.
External Affairs Minister S M Krishna on Wednesday assured two Indian traders, trapped in a financial dispute with local businessmen in the commodity hub of Yiwu, that he would take up their case with his Chinese counterpart on Thursday.
'There can be no bigger compliment than people walking away, carrying the film in their hearts, and thanking you for it.'
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
The Supreme Court has appointed its former judge P V Reddi to mediate the dispute between SpiceJet and its former promoter Kalinithi Maran, the airline said on Wednesday. The dispute dates back to 2015, when Maran sold his stake in SpiceJet of 58.46 per cent, or 50.4 million shares, to Ajay Singh for Rs 2 after the airline suffered financial trouble. A year later, Maran approached the Delhi high court, alleging a breach of agreement by Singh for not issuing him 189 million share warrants and preference shares despite Maran's Rs 679-crore infusion.
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
India on Tuesday told the UN General Assembly that the days when a few nations set the agenda and expected others to fall in line are over, underlining that its presidency of the G20 sought to focus on key concerns of the many, not just the narrow interests of a few.
'...a more capable State -- one that operates with greater capacity, greater efficiency, and greater clarity of purpose.' 'But I also see a more despotic State -- one that places more constraints on speech, assembly, dissent, and critique.' 'It may run 'better', but on the regime's rules.'
The National Company Law Tribunal (NCLT) on Monday gave its approval to Jio for the acquisition of Reliance Infratel (RITL). The tribunal asked Jio to deposit Rs 3,720 crore in the State Bank of India (SBI) escrow account to complete the acquisition of RCOM's tower and fibre assets. On November 6, Jio had proposed to deposit Rs 3,720 crore in an escrow account to complete the acquisition of Reliance Infratel which is undergoing an insolvency resolution process.
'In a gang, the person who controls the finances is the most important key person.' 'Cut the finances of a gang and it will vanish.'
Despite enduring a weak first quarter of the 2023-24 financial year (Q1FY24), Power Grid Corporation (PGCIL) has laid out an ambitious capex plan going forward. It is looking to invest around Rs 1.8 trillion on an existing asset base of Rs 2.7 trillion to aim at keeping over 50 per cent market share in the transmission market. This includes opportunities from the Rs 2.4 trillion green energy corridor.
The top diplomats of Quad nations on Friday denounced as "inadmissible" any use or threat of use of nuclear weapons in the Ukraine war and strongly opposed any "unilateral actions" that seek to change the status quo in the South and East China Seas, a region that has witnessed increasing Chinese military offensive.
Keep revising the sum insured at the time of renewal to keep it in line with inflation.
The government is planning to draft rules for the National Company Law Tribunal (NCLT) to deal with Insolvency and Bankruptcy (IBC) cases, according to official sources. The Ministry of Corporate Affairs (MCA) is also looking to fill all vacant posts at various NCLT Benches by August and put in place an IT-enabled system that would use artificial intelligence (AI) for case management. The NCLT, adjudicating authority for matters related to company affairs, was constituted before the IBC came into effect.
It also promised financial assistance of Rs 24,000 annually to all dependent widows and single mothers, two free LPG cylinders to all the beneficiaries of the PM Ujjwala Yojana and 24x7 power supply.
The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First's plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations while aircraft lessors vehemently opposed the petition. Amid the airline facing severe financial crunch and cancelling flights, a two-member NCLT bench comprising Justice Ramalingam Sudhakar and Member L N Gupta heard the arguments for and against the petition for nearly four hours. As aircraft lessors opposed the plea, the counsels for Go First said the petition was not a malicious one to avoid payment of dues to its creditors but to save the company.
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have been invited to join the grouping.
The finance ministry has put out a revised draft in public domain.
Rahul told the court about his relationship with Sheena, and narrated the sequence of incidents after he dropped her near suburban Bandra on April 24, 2012, for her meeting with her mother Indrani.
The government on Tuesday said it will allow setting up of world-class foreign universities in Gandhinagar's GIFT City, free from domestic regulations, to facilitate availability of skilled manpower in the financial services space. In addition, an international arbitration centre will be set up in the GIFT City for timely settlement of disputes under international jurisprudence, Finance Minister Nirmala Sitharaman said while presenting the Union Budget for 2022-23. The centre could be on the lines of the Singapore International Arbitration Centre, or the London Commercial Arbitration Centre.
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