The Indian government has asked a federal court in Washington to dismiss Britain's Cairn Energy suit seeking enforcement of a $1.2 billion arbitral award, saying it had sovereign immunity under US law. Cairn had in May asked a US federal court to force Air India to pay a $1.26 billion arbitration award the firm had won in December. The government on August 13 filed a 'Motion to Dismiss' petition in the US District Court for the District of Colombia, saying it lacked subject matter jurisdiction in the dispute between Cairn and the Indian tax authority, according to a filing seen by PTI.
Advances to firms for deals that never go through are the best way to convert this into legal cash.
Xi Jinping is winning the war without firing a shot in Sri Lanka, observes Colonel R Hariharan (retd).
Projects in Delhi-NCR, delayed by a much as 6-7 years
Jaitley said the Congress leaders created a 'Chakravyuh' for themselves through a series of financial transactions where tax-exempt income of a political party was transferred to a real estate company.
Karan Choudhury reports on the implications of the strict Real Estate (Regulation and Development) Act and the prosecution of Unitech MDs, Sanjay Chandra and Ajay Chandra, in an alleged fraud case.
Wednesday's expansion shows that Modi still has a keen eye on Bengal. The BJP is gearing up for the panchayat elections in Bengal next May and the Lok Sabha elections in 2024.
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
The move is likely to help 4.59 lakh housing units across the country.
Japanese Prime Minister Shinzo Abe on Wednesday called for sports and cultural events to be scrapped or curtailed for two weeks as the country battles to stem coronavirus contagion amid mounting concerns the 2020 Tokyo Olympics could be cancelled. Abe's call came after a Tokyo baseball team said it would play games in an empty stadium this weekend, while two businesses in central Tokyo reported confirmed cases of infection a day after the government urged companies to recommend staff consider working from home.
Government has introduced the Real Estate Bill, 2013 in Rajya Sabha.
India is ranked 12th in terms of services GDP among the world's top 15 countries, says the Economic Survey.
Cut to 2019, and his name evokes grief and anger among more than 40,000 homebuyers who are fighting for the keys to their flats, which they should have rightfully got more than seven years back.
"I am always being targeted, happy to be targeted," he told reporters while entering Parliament House.
"To begin with, people could face some difficulties because any changeover has its own problems. But it will settle down and the country will benefit from the new indirect tax regime," Jaitley said at an event organised by ABP News.
In the eye of storm over recovery of Rs 1.14 crore, $600 and ornaments purportedly stolen from his flat, Bharatiya Janata Party member of Parliament Giriaj Singh on Saturday recorded his statement with police claiming the money belonged to his businessman cousin.
Congress leader Rahul Gandhi on Friday assured that the Citizenship Amendment Act (CAA) will not be implemented in Assam if the party is voted to power in the state in the coming assembly poll.
'India cannot allow Beijing's policy of stabilising and destabilising the border at will to perpetuate its own ends.' A riveting excerpt from Manish Tiwari's 10 Flashpoints; 20 Years National Security Situations That Impacted India.
The government said it was willing to advance the upcoming Parliament session.
He hoped parliament would approve the real estate regulator and land acquisition bills in its monsoon session
Banks, real-estate sectors lead gains.
There is a lot to be done at Rashtrapati Bhavan, said President Pranab Mukherjee on Saturday as he ushered in his fourth year in office dispelling notions that life in the President's Estate was in a "realm of boredom".
Queen Elizabeth II may have to move out of Buckingham Palace during the much-needed repair and maintenance work to her 18th century iconic residence costing a whopping 150 million pounds, royal officials said.
Association points out that over 40 clearances from various agencies are required for real estate projects.
The 93-year-old monarch and her 98-year-old husband, Prince Philip, are likely to be placed in quarantine at the royal Sandringham Estate in Norfolk in the coming weeks as tougher measures are put in place to fight the coronavirus outbreak in the UK affecting over 1,140 people.
'For the Tamil Nadu protestors to openly ask popular film actor Vijay Sethupathi not to don Murali in 800 is a travesty in every sense. It may have given them a cause to tell the world, and the governments in New Delhi, Colombo and Chennai, that the Sri Lankan ethnic issue was still alive in the state -- more so, during the current run-up to two major events in the first half of 2021,' says N Sathiya Moorthy.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
Rabindranath Tagore's ancestral home in Shahzadpur holds not only historical value but the potential to provide for the region's educational needs.
The proposed ban on cash transactions above Rs 3 lakh may hit luxury goods, jewellery sales and real estate.
Sources said that the ministers were unanimous in seeking a robust counter to the campaign of the Congress which has attributed political motive behind the case.
'Too many things happen in India... that is the root of the problem, not Raghuram Rajan'
The shops became a subject of a political controversy last week.
A total of 16 bills, including the GST Bill, Lokpal (Amendment) Bill, Factories (Amendment) Bill and the Anti-Hijacking Bill are pending in Parliament -- five in Lok Sabha and 11 in the Rajya Sabha.
Tax administration could be improved to reduce discretion and improve accountability
Rebel Congress leader and former Member of Parliament from Kadapa, Y S Jaganmohan Reddy will formally launch his much awaited regional political party at his family estate Idupulapaya on Saturday.
They are the first to be declared terrorists under the new anti-law, a home ministry official said.
The Congress, which criticised the amendment, walked out of Rajya Sabha saying it is dissatisfied with the home minister's reply on the amendment to the SPG Act.
A special budget for farmers and interest-free loans for farmers and women are among the welfare programmes announced by Kadapa member of Parliament Y S Jagan Mohan Reddy, which he said his YSR Congress Party would implement if it comes to power.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances