'While the current pause offers temporary reprieve and alleviates any immediate legal pressure, the long-term implications remain uncertain.'
The name of the successful bidder was not disclosed.
'Earlier, we used to talk about a deficit economy. There is a deficit in democracy' 'If you read superficially Gandhi and Ambedkar and Nehru, some misconceptions and misunderstanding come to mind, as if they were at loggerheads and they differed radically in their views' 'India is one nation. There is only one citizenship. No citizenship for South India and no citizenship for North India and another for the Northeast'
With United States President Donald Trump reiterating his claims of brokering a ceasefire between India and Pakistan, the Congress on Wednesday asked what do the 'typically loquacious' Prime Minister Narendra Modi and External Affairs Minister S Jaishankar have to say about this revelation and did they 'mortgage' India's security interests in the face of US 'pressure'.
United States President Joe Biden and his family received tens of thousands of dollars worth of gifts from foreign leaders in 2023, with the most expensive gift going to First Lady Jill Biden from Prime Minister Narendra D Modi.
Prime Minister Narendra Modi concluded his visit to the United States after holding high-level bilateral talks with President Donald Trump on a wide range of subjects, including trade and technology, defence and security, energy and people-to-people ties. The two leaders decided to take a significant step in deepening their strategic ties, particularly in the areas of defence, energy, and critical technology. Modi also met with key American officials, including National Security Advisor Michael Waltz and Director of National Intelligence Tulsi Gabbard, and prominent business leaders like SpaceX CEO Elon Musk and Indian-American entrepreneur Vivek Ramaswamy.
Security experts have warned that using Signal for discussions of this nature violates every established protocol for handling classified information.
With the prediction of an above normal monsoon in 2024, the government is expecting food prices to come down, the finance ministry's monthly economic report for March has said. The report, released on Thursday, said robust foreign inflows and comfortable trade deficits were expected to keep the rupee within a comfortable range. "Further easing of food prices is on the anvil as IMD (India Meteorological Department) has predicted above-normal rainfall during the monsoon season, which is likely to lead to higher production, assuming good spatial and temporal distribution of the rainfall," the monthly report, released by the Department of Economic Affairs, said.
Pakistan's new Prime Minister Shehbaz Sharif and Russian President Vladimir Putin have quietly exchanged letters to strengthen bilateral relations, a media report said on Sunday, amidst allegations by Imran Khan that his maiden visit to Moscow, much against Washington's wishes, led to his ouster.
Prime Minister Narendra Modi and US Vice President JD Vance have expressed satisfaction with the progress made in negotiations for a bilateral trade agreement. The two leaders met in New Delhi and discussed a range of bilateral issues, including cooperation in energy, defense, strategic technologies, and other areas. They also exchanged views on regional and global issues of mutual interest.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
Billionaire Gautam Adani and his nephew Sagar Adani have not been charged with any violations of the US Foreign Corrupt Practices Act (FCPA) in the indictment filed by US authorities in a court in a bribery case, the Adani Group said on Wednesday.
The agency has also summoned Rajasthan Chief Minister Ashok Gehlot's son Vaibhav Gehlot for questioning in a case related to alleged contravention of the foreign exchange law, official sources said on Thursday.
Pakistani military targets at Rafiqui, Murid, Chaklala, Rahim Yar Khan, Sukkur and Chunian were engaged using air-launched precision weapons from Indian fighter jets and the retaliation largely focused on command and control centres, radar sites and weapon storage areas, Qureshi said.
Market watchers believe that the change in guidelines fly in the face of some of the recent initiatives taken by the government, such as easing norms for foreign portfolio investors.
With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion in profit over 20 years.
India and China have held their first diplomatic talks since withdrawing troops from two face-off points in eastern Ladakh, reflecting on the lessons learned from the border row to prevent future incidents. The two sides agreed to maintain peace and tranquillity in border areas, prepare for the next meeting of Special Representatives on the boundary question, and highlighted the importance of regular exchanges and contacts at diplomatic and military levels. The talks come after the completion of the disengagement process from the last two friction points, following an agreement finalized in October 2022.
Congress leader Rahul Gandhi criticized Prime Minister Narendra Modi for his response to questions about the Adani Group controversy during his US visit. Gandhi alleged that Modi downplayed the issue as a 'personal matter' and did not raise it with US President Donald Trump. Gandhi argued that the controversy is a 'matter of the country' and should not be ignored by the Prime Minister.
'We are receiving a steady stream of interest from well-established foreign universities.'
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
The federal agency issued a summons to Vaibhav Gehlot (43) last week, asking him to appear before the investigating officer of the case at its headquarters on A P J Abdul Kalam Road here under the provisions of the Foreign Exchange Management Act.
Raninder Singh has been asked to depose at the central probe agency's office in Jalandhar on October 27, they said.
'If the criminal or civil charges are deemed unworthy or defective, Trump's new justice department and SEC can withdraw the criminal and civil cases.'
The heated exchange between Trump and Zelenskyy and the resulting outpouring of support for the Ukrainian leader highlighted the deep fissures that have emerged between America and Europe over Ukraine.
With billionaire Gautam Adani charged in the United States with alleged bribery and fraud, the Congress on Thursday said it 'vindicates' its demand for a Joint Parliamentary Committee investigation into the various 'scams' involving his conglomerate.
Six US Congressmen have written to the Attorney General of the United States expressing concerns over the Department of Justice's indictment of the Adani Group, alleging it jeopardizes relations with India. The letter, signed by Lance Gooden, Pat Fallon, Mike Haridopolos, Brandon Gill, William R Timmmons, and Brian Babin, criticizes the Biden administration's decision to pursue the case, arguing that it has no real injury to US interests and could negatively impact the strategic partnership between the US and India. The Congressmen call for an investigation into the DOJ's conduct and request records pertaining to the case.
During the meeting, it was reiterated that "restoration of peace and tranquillity, and respect for the LAC are the essential basis for restoration of normalcy in bilateral relations", it said.
India and China have agreed to take measures to further ease the situation at the borders while continuing to implement the October agreement to resolve the standoff in eastern Ladakh comprehensively. The two sides held the 32nd meeting of the Working Mechanism for Consultation & Coordination on China-India Border Affairs (WMCC) in New Delhi, agreeing to maintain communication through diplomatic and military channels and safeguard sustainable peace and stability in the border areas. This meeting follows the October 21 agreement between the two countries to resolve the over four-year-long military standoff in eastern Ladakh.
Abu Dhabi's International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate's founder chairman Gautam Adani. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC, one of Adani group's key foreign investors, said in a statement.
Gautam Adani, India's second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years.
A pregnant Sri Lankan woman, who had been in a queue for two days to obtain a passport to leave the crisis-hit country for employment overseas, went into labour while waiting for her turn on Thursday and delivered a baby girl.
The central government has given banks and credit card entities six to eight months to put in place the requisite reporting mechanism and related features to collect tax at source on international credit card transactions, a senior bureaucrat told Business Standard. According to the bureaucrat, the plan to bring overseas credit cards under the Liberalised Remittance Scheme (LRS) has not been mothballed and is simply being deferred so that banks get adequate time to get the system up and running. The official expects the reporting mechanism to be ready in the given time, and the rule could be implemented in the next financial year (2024-25, or FY25).
'We can hope to see a lot of creation of jobs in the days to come.'
The government has amended rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 per cent foreign direct investment in the insurance behemoth LIC. The government is planning to dilute its stake in LIC through the the Initial Public Offering (IPO). LIC in February had filed the Draft Red Herring Prospectus (DRHP) before the markets regulator Sebi for the IPO.
The government has allowed the Enforcement Directorate to share information about economic offenders with 15 more agencies, including SFIO, CCI and NIA, a move that will expedite nailing of law-breakers. The finance ministry notified changes to the Prevention of Money Laundering Act (PMLA), 2002, on November 22. Through the notification, the Enforcement Directorate (ED), which deals primarily with cases of money laundering and violations of foreign exchange laws, would be able to share data with a total of 25 agencies, including the 10 specified earlier.
The income tax department has notified rules for valuation of equity and compulsorily convertible preferable shares issued by startups to resident and non-resident investors. As per the changes in Rule 11UA of I-T rules, which comes into effect from September 25, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
After the 1962 War with China, there was a demand to forge greater defence cooperation between India and the West. One such voice was that of Sudhir Ghosh, a distinguished MP, to tie up strategic cooperation with the USA immediately after the Chinese attack on India, recalls Rup Narayan Das.
