Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
France on Friday warned India that the proposal to replace additional customs duty on wines and spirits with countervailing excise duty at the state level will weaken New Delhi's position
Delaying GAAR is seen as a move partly designed to help solve Vodafone dispute.
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.
Non-compliance can also result in legal complications and disputes with the tax authorities.
The idea is to introduce in the next Budget a number of safeguards for preventing disputes with taxpayers.
Commerce secretary Sunil Barthwal is set to attend a two-day meeting from October 23 at the World Trade Organization (WTO) headquarters in Geneva, that would focus on finding solutions and giving the 'necessary political push' for at least some crucial global trade issues. Next week's meeting comes ahead of the WTO's 13th ministerial conference (MC13), scheduled in Abu Dhabi in February 2024. It will see participation of senior government officials from all WTO member nations.
After India filed its complaint at the WTO in 2012, the dispute settlement panel of the body in July this year had ruled in India's favour against the USA's imposition of higher duties on New Delhi's steel imports.
Cairn files notice against India in $1.6 billion tax dispute.
Amid a row between China and the US-based search engine Google, Premier Wen Jiabao has said his country is looking forward to the strategic dialogue with Washington in May to resolve trade and currency disputes
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.
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
Recently, the government had appointed former Chief Justice of India R C Lahoti as arbitrator in the tax dispute case.
Spain defeat England in final of record-breaking Women's World Cup
'Being financially independent is crucial.' 'This spares women a lot of grief if the marriage, especially in large business families, breaks down.'
Concerned over the practice of banks and Non-Banking Financial Companies (NBFCs) using penal interest as a revenue enhancement tool, the Reserve Bank on Friday came out with modified norms, under which lenders would be able to levy only "reasonable" penal charges in case of default in repayment of loans. The banks and other lending institutions will not be allowed to levy penal interest with effect from January 1, 2024, the RBI said in its notification on 'Fair Lending Practice-Penal Charges in Loan Accounts'. "Penalty, if charged, for non-compliance of material terms and conditions of loan contract by the borrower shall be treated as 'penal charges' and shall not be levied in the form of 'penal interest' that is added to the rate of interest charged on the advances," RBI said in a notification.
Without naming his predecessor Uddhav Thackeray, Maharashtra Chief Minister Eknath Shinde on Friday launched a scathing attack on him, stating that it must be found out who betrayed the people's mandate, Bal Thackeray's ideology and an ally of 25 years.
The arbitration clause is present in almost 95 per cent of corporate agreements, according to tax and audit firm Ernst & Young.
The International Cricket Council does not like the current dispute between the Board of Control for Cricket in India (BCCI) and Cricket South Africa (CSA), ICC chief executive Dave Richardson said.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
Bids were received for only 36 of the 70 blocks that were on offer.
Labourers held a demonstration in front of the police station.
The government plans to remove the definition of broadcasting services altogether from the bill to help reduce confusion among stakeholders.
In a new twist to the gas dispute between Ambani brothers, the fertiliser ministry on Monday said private family agreements cannot over-ride national priorities.
The government's decision to opt for a non-binding attempt at conciliation and under Indian law in its tax dispute with telecom multinational Vodafone is understandable, note experts.
A joint forum of Air India unions on Friday sought the labour department's 'urgent' intervention and initiation of conciliation proceedings in the matter of their passage policy and service conditions. On December 24, the forum comprising IPG, ACEU, AIEU and AICCA, in its demand notice to Air India managing director and chief executive officer Campbell Wilson, had protested against the changes in their service conditions. Tata Group took control of the then government-led Air India in January this year.
The Supreme Court on Tuesday told the Madras high court chief justice that the habeas corpus petition of Tamil Nadu minister V Senthil Balaji shall be decided by new bench expeditiously, and asked him to place the plea before three judges "at the earliest".
An FIR has been lodged against Tamil superstar Rajnikanth's wife Latha for allegedly forging documents to obtain a court order.
You can save Rs 35,000-Rs 50,000 in lawyer's fee at a district forum and several lakhs at the National Consumer Disputes Redressal Commission.
Suppose you had bought a television set that came with a one-year warranty. It breaks down two years after purchase. You can't react emotionally and say that such an expensive set should last for at least five-six years.
Officials from India and the United Kingdom (UK) are working overtime to address the contentious issues related to the proposed free trade agreement (FTA) between the two nations, in a final push to conclude the deal by the year-end. Commerce secretary Sunil Barthwal was headed to London on Thursday after completing his four-day visit to Brazil. Other key officials from India's negotiating team will be joining Barthwal in the UK capital, hoping to make headway in the FTA negotiations, which started in January last year, a person aware of the matter told Business Standard.
Sibal's predecessor Ashwani Kumar had rejected FinMin's plea for conciliation terming it illegal.
Justice A P Deshpande, who is hearing the petition by Anil Ambani-owned Reliance Transport and Travels Ltd staking claim over a lease of land for hangar, adjourned the hearing after its counsel sought time to inspect the documents on the lease agreement entered between Reliance Industries and Airport Authority of India. "We want to inspect the correspondence by RIL and file a rejoinder," advocate for RTTL Cyrus Bharucha told the court.
'Reservation for the private sector is a bad idea.'
The market regulator's decision to put resolution of disputes on the fast track is working well. In just over a year after announcing rules for consent orders, the Securities and Exchange Board of India has settled close to 83 cases.
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.
Business tycoon Nusli Wadia has dragged G L Raheja and kin, Sandeep G Raheja and Sonali G Raheja, and Ferrani Hotels belonging to the GL Raheja Group to the Bombay high court. The dispute is about violating the agreement between Wadia and the Rahejas on developing nearly 478 acres in Malad in the western suburb of Mumbai.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
The company contented before the tribunal that the amount was paid outside India.
RNRL is seeking 28 million cubic meter of gas a day or more than one-third of peak output from RIL's eastern offshore KG-D6 fields at a price set in a 2005 family agreement.
