The CBI, in its letter, said the matter was 'analysed' by the agency and it 'revealed violations of RBI guidelines and FEMA regulations'.
On the retail FDI issue, a possibility being talked about in the corridors of power is the Congress might withdraw its support to AAP in Delhi.
Opposition Bharatiya Janata Party and Left parties on Tuesday demanded separate debates with voting on Foreign Direct Investment in retail and related amendments in Foreign Exchange Management Act rules in Lok Sabha, but it was vociferously opposed by the government and rejected by Speaker Meira Kumar.
Finance Minister P Chidambaram talked to the press in New Delhi on Thursday to allay public concerns about the economy which is in doldrums.
Realty FII norms, which were recently put outside the purview of Press Note 2 (2005), are vague about pre-IPO investments.
India needs significantly more domestic wherewithal to achieve and sustain the stated objective of 7-9 per cent growth.
Tax reforms, GST rollout, public sector divestments top India Inc agenda; call for seizing the occasion.
Sources estimate there could be about 60 applications at the department of industrial policy and promotion for up to 49 per cent foreign direct investment in single-brand retail.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
The Foreign Investment Promotion Board has pulled up the department of revenue for rejecting all foreign direct investment proposals in which funds are routed through Mauritius and said it has taken a conscious policy decision to overrule such objections.
The show-cause notice dated February 8 by DCGI V G Somani cited a Delhi high court order dated December 12, 2018, which prohibits online sales of medicines without a licence.
It's unclear how the government will rustle up the numbers to push the legislation through Parliament.
The government on Tuesday accused Emaar MGF Land Ltd, a joint venture between Dubai's Emaar Properties PJSC and India's MGF Development Ltd, of violating foreign exchange rules over investments of Rs 86 billion ($1.51 billion).
India's highways development project, the largest public private partnership programme in the world, is likely to attract a whopping investment of $41 billion, including FDI, from the private sector, Highways Minister Kamal Nath said.
The Opposition has been protesting against allowing foreign direct investment in the retail sector, as well as the rise in fuel prices.
FDi helps a tiny minority in our country, says Hema Swaminathan, Assistant Professor, Centre for Public Policy, Indian Institute of Management-Bangalore.
The CAIT has complained to the Commerce Ministry to take action against these companies.
India is the fourth destination for foreign direct investment just below the United States, China and Britain.
After the UPA regime's move to suspend its decision on foreign direct investment (FDI) in multi-brand retail, the industry is turning nervous about the prospects of single-brand retail as well.
After the UPA regime's move to suspend its decision on foreign direct investment (FDI) in multi-brand retail, the industry is turning nervous about the prospects of single-brand retail as well.
India, at present allows 51 per cent FDI in single brand retail and 100 per cent in the cash-and-carry .
At present, FDI in multi-brand retail is prohibited in India. However, the government allows 51 per cent FDI in single brand retailing and 100 per cent in wholesale trade.
A new era of Indian equity market outperformance compared to China "appears to be dawning", according to Morgan Stanley. The firm has upgraded India to overweight in its Asia Pacific-excluding Japan (APxJ) list, making it their most preferred market not only in the region but also in the global emerging market (GEM) pack. India now holds the top position in this category, with an overweight of 75 basis points, a significant increase from nil previously.
According to a research report by Bank of America Merrill Lynch, there has been a sea change in interest in India post the reforms announced last week that included allowing foreign direct investment in multi-brand retail and the civil aviation sector.
A major chunk of this FDI would flow through induction of foreign stake in telecom infrastructure provider Aster Infrastructure Ltd. The Secunderabad-based company plans to hike foreign stake to 72.5 per cent for Rs 232.58 crore (Rs 2.32 billion).
Bhartiya Janata Party president Nitin Gadkari on Thursday claimed that the 'Bharat Bandh' to protest against diesel price hike, Foreign Direct Investment in multi-brand retail and cap on subsidised LPG was a great success and hoped the 'most corrupt' government since Independence has got the message and would roll back prices of diesel and not allow investments by the big international such as like Walmart to invest in India in the wholesale market.
Make time for this one, you will be in for a pleasant surprise like I was, endorses Mayur Sanap.
Will help to reduce current account deficit and restore growth.
Sources said in order to address the security concerns, FDI proposals from Pakistan would be routed through the Foreign Investment Promotion Board.
Indian Ambassador Nirupma Rao said the country will take care of the US concerns in a candid manner, open and transparent manner.
Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate (ED) has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday. When contacted, Flipkart said it is in compliance with Indian laws and regulations, including FDI regulations.
Currently, FDI up to 26 per cent is permitted through automatic approval route.
FIPB rejected the proposal on the grounds that it did not comply with the 26 per cent cap on foreign direct investment in insurance ventures, government sources said.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances