The Cabinet, chaired by Prime Minister Narendra Modi, allowed contractors to move to the new, speedier arbitration process, approved the release of 75 per cent of the amount in dispute against bank guarantees and provided for a conciliation board comprising independent domain experts in new contracts.
'This is evidently pure vendetta politics and may even end up helping the Akalis in the elections'
As corporate India gears up to be GST-ready, the ongoing litigation and tax dispute cases are something most businesses are cagey about.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
About 20.8 per cent elders have lost either family members or friends due to COVID-19 and most of them believe that a better medical and health infrastructure could have saved these lives, according to a report that surveyed 3,526 elderly people in the country.
Chintan Upadhyay, estranged husband of artist Hema Upadhyay, was on Tuesday arrested in the double murder case of his wife and her lawyer in suburban Kandivali in Mumbai and sent to police custody till January 1 by a Mumbai court.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
Family members of people who committed suicide within 30 days of being diagnosed with COVID-19 will be entitled to Rs 50,000 ex-gratia assistance as per the guidelines, the Centre told the Supreme Court on Thursday.
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
As part of the agreement, McDonald's has acquired 50 per cent voting equity shares in Connaught Plaza Restaurants, held by Bakshi and his affiliated entity since inception.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
The order for the second batch of the assault rifles would be coming after the first lot of 72,000 rifles, has already been delivered to the army for use by troops in Northern Command and other operational areas.
Since September, Reliance Retail has raised money from Silver Lake, KKR, Mubadala, Abu Dhabi Investment Authority , GIC, TPG, General Atlantic and Saudi Arabia's Public Investment Fund in a divestment programme that mirrored sister Jio Platforms a few months earlier.
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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
The question on who should borrow from the market and whether the borrowing will be under two buckets should be decided by the GST Council, and not by the Centre. If there is no consensus, there has to be a vote, says A K Bhattacharya.
Starc, who bagged a $ 1.8 million (Rs 9.4 crore) contract with KKR ahead of the 2018 IPL, couldn't play a single match due to a right leg injury.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
While it is not clear whether the new form will be applicable from this year, some chartered accountants say that things can go both ways. The new deadline for filing ITR is November 30.
SVAMITVA is a new government project that primarily aims to demarcate abadi areas that includes inhabitant land, inhabited areas contiguous to abadi and wadis/basties in rural areas, using drone surveying technology.
In a new twist to the double murder case of artist Hema Upadhyay and her lawyer Harish Bhambhani, the role of a sixth suspect is being probed even as fresh leads suggest that the prime accused Vidyadhar Rajbhar, who is on run, is preparing himself to surrender before police, a senior officer said.
The interrogation of suspects in the double murder of noted artist Hema Upadhyaya and her lawyer has given fresh leads to investigators on whereabouts of main accused Vidya Rajbhar following which Mumbai Police teams have been dispatched to various locations.
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
Jet Airways' cabin crew and ground staff have challenged the Jalan Kalrock consortium's resolution plan, which was approved by the National Company Law Tribunal (NCLT) in June, flagging concerns about pending salaries and retirement benefits. In their petition filed before the National Company Law Appellate Tribunal (NCLAT), the Jet Airways Cabin Crew Association and Bhartiya Kamgar Sena have submitted that dues of all workmen of the airline were not included as part of the Corporate Insolvency Resolution Process (CIRP) cost. In June, NCLT approved Jalan Kalrock Consortium's resolution plan for Jet Airways, which remains grounded for more than two years now.
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines after the high court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman's assets in India. Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Mallya's lawyers. At a virtual hearing, July 26 was set as the date for final arguments for and against granting a bankruptcy order against the 65-year-old Mallya after the banks accused him of trying to "kick matters into the long grass" and called on the "bankruptcy petition to be brought to its inevitable end".
Police on Wednesday brought former Star India CEO Peter Mukerjea face to face with his wife Indrani and the two other accused in the Sheena Bora murder case and questioned them extensively.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Kotak Bank was the top laggard in the Sensex pack, shedding over 2 per cent, followed by ITC, PowerGrid, M&M, HDFC, Asian Paints and NTPC. On the other hand, Maruti rallied over 4 per cent. Bharti Airtel, Axis Bank, IndusInd Bank and Bajaj Finance were also among the gainers.
The Pakistan Cricket Board has decided to take its compensation claim case against the Board of Control for Cricket in India to the disputes resolution committee of the International Cricket Council.
'Tinkering will not do. Merely staggering spectrum dues comes nowhere near solving the problem,' cautions Rahul Khullar.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
In 2020-2021, the amount of foreign direct investment into India from China and Hong Kong plummeted to just $200 million -- its lowest in the recent past. In the first half of 2021-2022, FDI investments through these two nations stood at just $36 million.
Priorities include the amendments of the Companies Act and the Motor Vehicle Act
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
In recent years, China has refrained from taking a public stance on the India-Pakistan ties, expressing hope for resolution of the disputes through dialogue.
"Our position has been clear and consistent on Kashmir... It is a bilateral issue between India and Pakistan," the MEA said. The US President had repeated his offer to 'help' resolve the issue on Tuesday.
Even as regulatory focus has zeroed in on foreign e-commerce giant Amazon, a domestic retail giant has been created almost below the radar in Reliance Retail (RR), one of the most crucial businesses for the group's future. From doorstep delivery of groceries, apparels to branded jewellery, medicines, toys, furniture to high street retailing, RR's presence in the world's fourth largest consumer market is just one part of the story.
Troubled Vodafone Idea Ltd (VIL) has filed a review petition in the Supreme Court after the apex court recently dismissed its plea for rectification of the alleged errors in the calculation of adjusted gross revenues-related dues. In the petition, filed earlier this week, VIL has said it is "a travesty of justice" that the company is restrained from questioning the arithmetical errors/ omission which are going to cost it about Rs 25,000 crore (Rs 5,932 crore of principal plus interest, penalty and interest on penalty). VIL has said its contentions have been rejected by the order under review and added that this denial could result in the company going under and its about 27.3 crore subscribers being left "high and dry".
The government on Thursday brought a bill in the Lok Sabha to withdraw all back tax demands on companies such as Cairn Energy and Vodafone and said it will refund the money collected to enforce such levies.
Unless the impasse ends next week, the upcoming Australia 'A' tour of South Africa, a two-Test series in Bangladesh and a limited-overs tour of India are under threat from the dispute, with the Ashes also looming at the end of the year.
'Indian markets may initially react and follow the pattern of US and other global markets post US elections.'
