The government on Wednesday extended the tenure of Enforcement Directorate Director Sanjay Kumar Mishra by a year till November 18, 2022, days after the Centre brought ordinances to allow ED and Central Bureau of Investigation directors to occupy the office for up to five years.
The counsel for the Centre said the proposal has been sent to the economic affairs department for further approvals, which would also be processed and the petitioner can apply for requisite visa permits.
'Countries like Israel said openly that they will hunt people down. We have no such policy.' 'We have always been following the legal process of getting them (people wanted by India) through extradition.'
India's high commission in Canada said on Wednesday that the country's officials will resume processing some types of visa applications for Canadians applying from across the country as well as abroad.
The Enforcement Directorate has begun a "preliminary enquiry" into the financial transactions that took place in connection with the Antrix-Devas deal.
Forex dealers said besides continued demand for the American currency from importers, increased capital outflows by foreign funds kept pressure on the rupee.
To spur war among lenders to grab existing loans
ED has initiated action against these account holders in Mumbai, Delhi and other cities.
Close on the heels of the alleged money laundering by farm owner Hasan Ali Khan through Switzerland-based bank UBS, Europe's biggest bank by assets, another Swiss bank, Credit Suisse, has come under scrutiny of the Enforcement Directorate (ED), which investigates foreign exchange violations.
Speaking about the issue in India in March 2012 at a media conclave, Kissinger defended his use of unparliamentary language while referring to Prime Minister Indira Gandhi.
While the rupee depreciation in 2012 persuaded many companies in taking hedges against their foreign currency loans, industry analysts feel it might not be sufficient to counter the swift slide in the value of the local currency.
Do not declare them under Income Tax.
The finance ministry on Monday said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade.
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
The Working Mechanism for Consultation and Coordination on India-China Border Affairs (WMCC) was established in 2012 as an institutional mechanism for consultation and coordination for the maintenance of peace and tranquillity in the border areas.
To get same tax treatment as FIIs; rules on search & seizure and consent settlement cleared
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Gold prices on Tuesday rose by Rs 227 to Rs 28,418 per 10 gm in futures trade, largely on speculative positions created by participants amid a firming trend at the spot market.
China sits on a mountain of United States treasury debt, reinforcing its position as the world's number one holder of US treasury securities with a total of $895.2 billion. China's foreign exchange reserves too stood at a mammoth $2.45 trillion at the end of March 2010.
Despite the government's hectic efforts to avoid voting on the no-confidence motion against Khan, the joint Opposition succeeded in its month-long efforts to oust Khan from the prime minister's office as 174 members of the 342-member National Assembly voted against him in the wee hours of Sunday after a day of high drama.
With a sole mandate of inflation targeting, RBI wears many hats.
With little clarity on the list of companies that have mark-to-market losses on derivatives transactions, banks are now asking their corporate banking departments to scan the books of borrowers and also seek details of their foreign exchange exposure. Within this pie, banks are segregating companies with turnover of Rs 30-40 crore (Rs 300-400 million) to Rs 100 crore (Rs 1 billion) and those which are above this threshold.
The income tax authorities have put banks and companies disclosing losses in their foreign exchange derivative structures under the scanner. Banks and companies have been called to explain the extent of losses and structures initiated in both Indian and overseas markets through their branches and subsidiaries. The income tax department will then ascertain whether banks and companies entered into transactions to hedge their portfolio or for purely speculative purposes.
When contacted, Raninder said said he has nothing to hide and was willing to cooperate on the issue.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
The event will aim at drawing foreign investment in startups and push local partnerships.
Indians having undisclosed income in the United States (US) may face proceedings under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, this financial year. Also, those named in global leaks may be searched, show-caused, and prosecuted, according to the FY23 internal action plan of the Central Board of Direct Taxes (CBDT). The CBDT has rolled out an aggressive target and timeline to investigate tax evasion matters, especially those involving undisclosed foreign assets.
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
Sitharaman also said different departments of the government are working to provide relief to industry, which could be severely impacted by the fast-spreading virus.
The external affairs ministry's files, as distinct from those of the ministry of defence or the agencies, at least from before 1974 should be declassified. And if select files that are more than 40 years old are not to be declassified, the ministry should follow explicit guidelines to justify taking such a view, says Jaimini Bhagwat.
This is because no prosecution complaint has been filed in any of these cases under the Black Money Act.
Each dept could handle a designated area.
Emigration, probably Kerala's top foreign exchange earner since the '70s, is now declining says the study by the Non-Resident Keralites' Affairs Department, a state government agency in Thiruvananthapuram set up to look after the NRIs.
The Swiss Finance Ministry spokesperson recently confirmed that a meeting is expected in the coming weeks, but did not disclose any further details.
The Enforcement Directorate on Wednesday said it has arrested two persons in Chennai for alleged illegal exchange of Rs 6 crore in old notes "in connivance with" sand-mining baron J Sekhar Reddy as part of its money laundering probe post demonetisation.
They agreed to continue technical exchanges to help end the epidemic worldwide as soon as possible, it said.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
A forensic probe has been ordered into alleged irregularities by the department of financial services.
The trouble for Ashok Lavasa's family began a few months back when his wife, Novel Singhal Lavasa, came under the scanner of the income tax department on charges of alleged tax evasion.
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