The Supreme Court Friday assured the home buyers of the to-be-razed 40-storey twin-towers of real estate firm Supertech in Noida that they will be refunded the full amount deposited with the builder. The apex court also asked the Interim Resolution Professional (IRP) of the firm, facing insolvency proceedings, to deposit Rs one crore with the apex court registry. The Supertech's 40-storey twin towers at Emerald Court Project of Sector 93A of Noida are scheduled to be razed on August 28.
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.
'The smartest businessmen are shopkeepers as their return on investment is better than anyone else.'
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
Namrata Acharya finds out more about a movement aimed at preserving not only the mansions of north Calcutta and the grand colonial buildings of central Calcutta, but also the architecturally modest, yet unique, houses of south Kolkata.
The NCR and the MMR together account for 77 per cent of 10 big housing projects stuck because of developers' bankruptcy or litigation.
Rooms at this Kolkata hotel are priced between Rs 7,000-8,000 per night. Gateway is a full-service upscale hospitality brand under the Taj Group of Hotels.
As large-scale layoffs begin at Facebook's parent company Meta, employees on work visas such as H-1Bs are now faced with uncertainty over their immigration status, with CEO Mark Zuckerberg acknowledging "this is especially difficult if you're here on a visa" and offering support to those impacted. Meta announced that it is laying off 11,000 employees or 13 per cent of its workforce, with Zuckerberg describing it as "some of the most difficult changes we've made in Meta's history." US-based technology companies hire a large amount of H-1B workers, the majority of whom come from countries such as India.
The government on Tuesday confirmed that a French court has ordered the freezing of certain Indian assets in Paris on a petition by Britain's Cairn Energy, which is seeking to recover $1.72 billion from New Delhi after winning an arbitration against retro tax. Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Rajya Sabha said the government has filed an appeal against an international arbitration tribunal overturning levy of Rs 10,247 crore in back taxes on Cairn Energy. "Yes sir, an order has been passed by a French Court freezing certain Indian government properties in the case pertaining to Cairn Energy," he said.
Government on Monday formed a multi-agency group to monitor exposes in this regard and vowed to take action against all "unlawful" accounts held abroad.
During the election campaign Trump had said Clinton would be in jail if he won the elections. He now faces the consternation of supporters who took that pledge literally.
Readers share their mom's special qualities.
If Donald Trump moves into the White House and his family continues to receive any benefit from the company, during or even after his presidency, almost every foreign policy decision he makes will raise serious conflicts of interest and ethical quagmires, says Newsweek.
The demand for minerals, boulders and sand is so great that it has fueled a black market and the goons who control this trade do not hesitate to kill law enforcement officers and reporters who have tried to expose them.
Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
This is the fifth increase in withdrawal limit since the bank was placed under its direct control with an administrator on September 23. Since then as many as nine depositors have lost their lives including a 74-year-old man from Thane on Monday.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
If the property is inherited from one generation to another, the person who inherits it cannot pass it on as s/he wishes, points out Rajesh Narain Gupta, managing partner, SNG & Partners.
'The role reversal of those in favour of GST and those opposing it is troubling.'
Militant labour policies compounded a poor security environment for capital in West Bengal and encouraged the business community to relocate. constraining the private sector's right to hire freely could well be the coup de grace. As with Calcutta/Kolkata, it will probably take a decade for Gurgaon/Gurugram to feel the difference, says Kanika Datta.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
At the event, about 100 people were told they could become US residents under a 'EB-5' visa programme if they put $500,000 (Rs 3.21 crore) into the project.
Cairn Energy and Air India have jointly asked a New York federal court to stay further proceedings in the British firm's US lawsuit targeting the airline for enforcement of a $1.2-billion arbitral award. The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn, according to court documents reviewed by PTI. The British company had won an international arbitration award against levy of such taxes and sought to take over Air India assets when the government refused to honour the award and pay it $1.2 billion-plus interest and penalty.
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
Deputy Chairman of the Supreme Court-appointed Special Investigative Team on black money, Justice Arijit Pasayat, said Rs 70,000 crore of black money has been unearthed so far and the sixth report on it will be submitted to the apex court in April.
Pawar said he was upset that his three sisters were dragged into this.
'Man-made interventions vastly increased the magnitude of the tragedy.'
'The Chennai floods in particular clearly show there is a nexus between corruption, disaster, destruction and death.' 'Urban development in India is the source of all corruption.'
'I am in favour of keeping these talented people here so they can go to work in Silicon Valley.'
The relationship between the Singh brothers, erstwhile promoters of Fortis Healthcare, went sour after allegations of fund diversion from the healthcare chain emerged.
Surendra Hiranandani -- chairman and managing director, House of Hiranandani -- explains what ails India's housing sector and indicates the way forward.
'That will affect the economy, employment, agriculture, and ultimately, youngsters, the working class and job opportunities.'
Though launched in 1996, the slum replacement scheme has more or less bombed. Builders have not found the slum spaces attractive enough to build, harvest extra FSI for sale in open market thereby subsidising the rehabilitation, says Mahesh Vijapurkar.
The notice, under provisions of the Foreign Exchange Management Act, has been issued by the Mumbai office of the agency after its probe found that the group has 'contravened' the law as it failed to comply with Reserve Bank of India norms by not declaring funds generated by some wholly owned subsidiaries the group had raised overseas few years back, according to ED sources.
Support from the committee gives Xi an indefinite extension on the reins of power, which will surely result in hawkish and insular policies. It does not bode well for relations with the USA, or with anyone else who does not bow the knee to Beijing, for that matter.
Rose Valley is one of the biggest money businesses after Sahara.
The Council also discussed process to make return filing simpler with just one return to be filed every month.
Under the EB-5 visa programme you can become a US citizen provided you invest $500,000 in an approved project and create targeted employment. But only 700 Indians can do so each year.
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