Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Base metals major Hindalco's overseas subsidiary, Novelis, has submitted a draft registration with the US Securities and Exchange Commission (SEC) for the proposed public offering of promoters' shares. Novelis' sole shareholder, AV Minerals (Netherlands) NV, is a 100 per cent subsidiary of Hindalco. Novelis would not receive any proceeds from the sale. Assuming SEC clearance could go through in about 6 months.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
The US Securities and Exchange Commission (SEC) team met the six-member government appointed board of the Satyam Computer Services here on Thursday.
With high credit growth and healthy asset quality, listed commercial banks are expected to report steady growth in earnings during the fourth quarter ended March 2024 (Q4 FY24). Profits are expected to grow at 9.6 per cent year-on-year (Y-o-Y) and net interest income (NII) by 8.7 per cent in Q4 FY24, according to Bloomberg analysts' estimates. According to Motilal Oswal Securities, while bank credit growth has been robust, deposit growth has also gathered pace.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
The parties which lost their registration also include Revolutionary Party of India-Khobragade faction, led by Uttam Khobragade and Uttar Pradesh-based Peace Party.
The apex court, which dismissed the pleas filed by the West Bengal government and the State Election Commission (SEC) challenging the high court order, said the tenor of the high court order was ultimately to ensure free and fair election in the state.
SEC rules require companies with 500 or more shareholders of record in a given type of stock to publicly disclose certain financial information.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
A key reason for the rise in crypto currencies in 2023 is the possibility of the world's first Bitcoin ETF over the next few months.
The RBI issues these securities via an auction mechanism through out the year on a calendar schedule.
This settlement relates to an accounting fraud perpetrated by the company's former management from at least 2003 through September 2008.
The court directed the State Election Commission, the state government and the central government to file affidavits dealing with all the allegations made in three petitions alleging malpractices.
India has urged the US Securities Exchange Commission (SEC) not to impose fine on Satyam, now Mahindra Satyam, in view of irregularities as the company was also listed there.
Internet connections remained suspended even as prohibitory order under CrPC Section 144 was still in place in and around the area where several shops and residences were vandalised during the clashes, he said.
West Bengal minister Madan Mitra on Friday claimed that if he had the power he would have removed the state election commissioner and alleged that it was conspiring with opposition parties in the panchayat polls.
Indian para swimmer Suyash Jadhav on Wednesday secured the 2024 Paris Paralympics quota in the Men's 50m Butterfly S7 category with his brilliant performance at the previous Asian Para Games.
The probe is not part of the civil fraud charges filed against the bank in April, which caused an alleged loss of over $1 billion to investors by misrepresenting facts about the financial product tied to sub-prime mortgages.
The State Election Commission on Friday informed the Calcutta high court that it has requisitioned 822 companies of central forces for the July 8 panchayat polls in West Bengal.
The Supreme Court on Monday refused to interfere with the Delhi high court verdict granting bail to former Mumbai Police Commissioner Sanjay Pandey in a money laundering case related to alleged illegal phone tapping and snooping of National Stock Exchange (NSE) employees.
Dwaipayan Bose on how index funds play a key role in the diversification of portfolios and help manage risks
The cryptocurrency exchanges in India have got a fresh lease of life following the bull run in Bitcoin, which briefly hit a new all-time high of more than $69,000. Siddharth Sogani, managing director of CREBACO, expects the price to cross $1,00,000 by the end of the year. This will see a sharp reversal in the Indian market, which has largely been dormant since the new tax regime was implemented in 2023.
In its closure report submitted before a special CBI court New Delhi, the agency is understood to have said it did not find enough evidence to prosecute the accused.
The repolling started at 7 am amid tight security with four central forces personnel deployed in each booth, besides state police. Till 11 am, 10.9 per cent voter turnout was recorded.
Lawyers of embattled Goldman Sachs met with representatives of the US market regulator SEC this week, a move seen as an attempt to settle the lawsuit against the banking major, according to reports.
FMPs remain an option for investors who believe interest rates could head downward over time and wish to lock in the current rates. TMFs have very low expense ratios, which makes them cost-efficient.
Short-term government bonds fell behind longer-dated securities in demand this month so far due to a liquidity crunch in the banking system and expectations of a delay in a rate cut, said market participants. Investors have favoured longer-tenure government bonds, or g-secs, with insurance companies and pension funds leading the charge by stocking up on those with maturities of 30 years and more. Preference for longer-term securities was strengthened by the conclusion of the borrowing programme, which compelled institutional investors to fulfil their requirements in the secondary market.
The commission also asked Deshmukh to pay to the state government the expenses incurred during his air travel to Pune and Kolhapur districts last month to attend, what it called, "political and private functions."
The first phase of the crucial panchayat polls in West Bengal will begin on Thursday even as the ruling Trinamool Congress kept up its attack against the State E1lection Commission.
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
Jyothi Yarraji and Jeswin Aldrin win silver each in Asian Indoor Athletics Championships
'Higher inflows into these securities should lead to lower borrowing costs for the government.'
US market regulator SEC has slapped penalties of over $16 million on spirits giant Diageo Plc for indulging in corrupt practices in India, Thailand and South Korea to push up sales of its leading brands like Johnnie Walker.
During his tenure with the group, Bagchi has held several key positions in retail banking, corporate banking and treasury.
Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
The US regulator Securities and Exchange Commission has appointed heads of five new specialised units, in a move to rebuild its enforcement programme.
The cap in G-Secs and corporate bonds now stands at $10 billion and $20 billion, respectively (up from $5 billion and $15 billion).
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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