Housing sales across seven major cities in the country fell 35 per cent year-on-year to 50,983 units during the July-September period even as the demand recovered post lockdown, according to data analytics firm PropEquity. Sales stood at 78,472 units in the year-ago period in seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
Britain's Cairn Energy Plc has dropped lawsuits against the Indian government and its entities in the US and other places and is in the final stages of withdrawing cases in Paris and the Netherlands to get back about Rs 7,900 crore that were collected from it to enforce a retrospective tax demand. As part of the settlement reached with the government to the seven-year old dispute over levy of back taxes, the company - which is now known as Capricorn Energy PLC - has initiated proceedings to withdraw lawsuits it had filed in several jurisdictions to enforce an international arbitration award which had overturned levy of Rs 10,247 crore retrospective taxes and ordered India to refund the money already collected. Two sources with direct knowledge of the matter said Cairn on November 26 withdrew the lawsuit it had brought in Mauritius for recognition of the arbitration award and took similar measures in courts in Singapore, the UK and Canada.
Cairn has already taken steps to have the arbitration award recognised in nine major jurisdictions such as the US, UK, France, the Netherlands, Singapore and Canada's Quebec province, where Indian sovereign assets have been identified. It hasn't said what it might go after but assets could include Air India's planes, vessels belonging to the Shipping Corporation of India and property owned by state banks.
Special judge AR Patel will hear the arguments of the defence on Tuesday, special public prosecutor Sudhir Brahmbhatt said.
The rating was downgraded despite 25 per cent held by stronger partner Indian Hotels, which operates the company's seven properties in India.
The government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-owned Devas Multimedia a fraud, to counter seizure of its properties, Finance Minister Nirmala Sitharaman said on Tuesday as she launched a blistering attack on the Congress for handing over airwaves used by the defence to the private firm for pittance. "It is a fraud of Congress, by Congress (and) for Congress," the minister told reporters as she read out paragraphs from the Supreme Court's January 17 decision allowing winding up of Devas Multimedia because of the fraud.
Curfew was clamped in the entire Khargone city of Madhya Pradesh and 77 people were arrested after stones hurled at a Ram Navami procession triggered arson, officials said on Monday.
The about 60-pages prosecution complaint was filed by the federal agency before a special Prevention of Money Laundering Act court in Delhi on May 24.
Sebi has been given direct powers to freeze bank accounts, attach properties, conduct search and seizure and initiate recovery proceedings.
Parts of Raigad, Ratnagiri districts in the coastal Konkan region and Kolhapur district in western Maharashtra, have been worst affected by the floods. Besides that, heavy rains have been pounding parts of Satara district.
ndependent of the political fallout, which Stalin has sought to arrest through the withdrawal of the measures as fast as they were introduced, there are concerns about the way those decisions came to be taken, without adequate application of mind, not in official terms but in political and electoral contexts, points out N Sathiya Moorthy.
On January 18, the agency had raided his premises and claimed to have seized about Rs 8 crore cash.
Titan was the top gainer in the Sensex pack, rising over 3 per cent, followed by M&M, Reliance Industries, Axis Bank, TCS, Maruti and Infosys. NSE Nifty surged 122.10 points to 15,885.15.
A bench of Justices Arun Mishra and U U Lalit also cancelled the leases of Amrapali's properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group.
Housing demand has breached pre-COVID levels with 92 per cent year-on-year growth in sales during July-September period units across eight major cities, mainly on the back of stable prices, very low mortgage rates, property consultant Knight Frank India said on Monday. Releasing its India Real Estate Update for Q3 (July-September quarter) of the 2021 calendar year, the consultant reported that housing sales increased to 64,010 units from 33,404 units in the same period last year. In the previous April-June quarter, 27,453 residential units were sold. "The total residential sales of the top eight markets under review during Q3 2021, reached 104 per cent of 2019 quarterly average," the consultant said, adding that sales have breached pre-COVID levels.
Taking suo moto cognisance of the matter, the court has decided to hear the case on Sunday in spite of its being a holiday.
India abstained in the United Nations General Assembly on a draft resolution calling for Russia to be held accountable for violations of international law by its invasion of Ukraine and requiring Moscow to pay reparations to Kyiv for damages, loss and injury resulting from the war.
A balanced diet should include steamed and boiled vegetables, milk products such as buttermilk and yoghurt, fresh fruits, herbal teas and bitter vegetables, suggests Zamurrud M Patel, CDE, RD, chief dietician, Global Hospitals, Mumbai.
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
The iconic Taj Mahal Palace and Tower hotel of the company in south Mumbai does not have any guests at present and only minimal staff are present to ensure upkeep of the property.
Inspector General of Police (IGP), Kashmir, Vijay Kumar said the police was tracking both the Pakistani terrorists from the day of the attack on the CRPF men on April 4, and the operation was launched on Sunday after pinpointing their location.
"We cannot allow people to reside in guesthouses or any other place other than their own house," said Justice Yogesh Khanna who further stated that "preservation of site" pursuant to a criminal proceeding did not mean locking up the place.
'The entire idea behind the serial bomb blasts was to strike fear in the minds of Indians.' 'I don't think the blasts were targeted to derail the Indian economy; the idea behind the blasts was retribution.'
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
Trump said that Mar-a-Lago in Palm Beach was "occupied by a large group of FBI agents".
It has also attached fresh 66 banks accounts, holding deposits of Rs 80.07 crore, of the Gitanjali group, owned by Modi's uncle Mehul Choksi.
"The day Crime Branch took Raj Kundra to his Mumbai home for the searches, the Shilpa Shetty was questioned too. Shilpa was very upset after the interrogation. She and Kundra had a huge argument where she shouted and asked him what was the need of doing such a thing and why he did everything. The Crime Branch team had to intervene between the couple to pacify the actress," the sources said.
Acquisitions may have played a role in much of the increase.
At least 40 people, including 20 police personnel, were injured during the clashes, the police said on Saturday.
Prices of all metals - from steel to copper, aluminium, zinc and lead - have shot up by about 5-11 per cent in the past month. Commodity inflation is raising its head, forcing companies to consider price hikes.
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The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country's image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders. The tax department had used a 2012 legislation, which gave it powers to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, to seek Rs 10,247 crore in taxes from Cairn.
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
22 bodies, 13 from Kottayam district and 9 from Idukki were recovered from various rain-hit areas while National Disaster Response Force teams continued their rescue operations.
Chief Minister Stalin seems to have drawn a line between his personal beliefs and those of others in the family, beginning with wife Durga Stalin, observes N Sathiya Moorthy.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The shutdown has been complete in not only major cities like Kohima, Dimapur and Mokokchung, but even smaller towns such as Tuli, Jalukie, Pfutsero, CNCCI president Khekugha Muru told PTI.
During enquiry, it was found that a quarrel had taken place allegedly between Sushil Kumar, Ajay, Prince Dalal, Sonu, Sagar, Amit Kumar, and others in the parking area of the Chhatrasal Stadium in North Delhi.
Addressing a rally in support of the Citizenship (Amendment) Act in Kanpur, Adityanath said, "These people do not have courage to participate in the protests themselves. They know if they indulge in vandalism, their property will be seized. Now what have they done? "They started making the women sit at roads. The children have been made to sit. It's such a big crime that the men are sleeping under the quilt and the women are made to sit at roads. It is shameful," he said.
The CBI has said the mall belongs to Yadav who has made investment in the project through a company.
While rescue efforts are on in full swing, the narrow tunnel and the massive slush that was brought down by the glacial flood are hampering rescue operations, confirm Swati Bhadauria, the district collector of Chamoli, and Yashwant Singh Chauhan, the superintendent of police.
