The bill must answer categorically as to whether or not it would be able to stop another industrial disaster. The usefulness of any such bill lies in its affirmative response.
Telecom operator Bharti Airtel on Friday said it has signed an agreement to buy Vodafone's 4.7 per cent stake in Indus Towers on the condition that the proceeds will be used for investment in Vodafone Idea and clearing its dues towards the mobile tower company. Debt-ridden Vodafone Idea (VIL) has been unable to pay dues to Indus Towers and both VIL and promoter Vodafone have proposed a payment plan to clear the outstanding amount by July 15. In the meantime, VIL has committed to pay certain minimum amount each month to Indus Towers.
The sugar industry is all set to challenge the recent amendment to the Essential Commodities Act, which seeks to introduce a fair and remunerative price (FRP) for sugarcane, besides absolving the government of a Rs 14,000-crore levy price obligation arising out of several court rulings.
The 'Tamil Thai Vaazhthu', an invocation, is only a prayer song and not a National Anthem and hence, there is no need for every one to remain in standing posture when it is rendered, the Madras High Court bench here has ruled.
One of the changes being proposed is allowing LLPs to issue non-convertible debentures.
Under the new guidelines, the top 10 active equity schemes in terms of assets would collectively require investments of around Rs 365 crore -- up from mandated Rs 50 lakh at present -- in their own schemes.
It is quite a shock that that company management, mainly disgraced chairman B Ramalinga Raju, kept everyone -- seemingly --in the dark for a decade.
Sebi on Wednesday imposed a total penalty of Rs 25 crore on Mukesh Ambani, Anil Ambani, other individuals and entities for non-compliance with takeover norms in a Reliance Industries case dating back to 2000.
According to experts by making CSR spending mandatory, the government has made it into a statutory due like tax but with none of its democratic quality.
Apart from this, employers may be allowed to deduct EPF contributions only on the basic pay of up to Rs 15,000, even if the employees' basic pay is above this ceiling. While on one hand this will allow companies to lower their wage bills, employees can also get a higher salary in hand.
Rajiv Bansal's severance payment was Rs 17.38 crore
The government has made employers responsible for verifying whether the claims filed are according to the law. Earlier, companies went only by self-declaration of employees.
The total amount covered by interim orders of no coercive action passed by the courts in such matters is approximately Rs 67,000 crore, the government told a bench headed by Justice A M Khanwilkar.
The verdict may have an impact in other states where former chief ministers are occupying government bungalows for life under the local laws.
Vodafone Idea, the country's third largest telecom operator, on Wednesday reported a staggering Rs 73,878 crore of net loss in fiscal ended March 2020 -- the highest ever by any Indian firm -- after it provisioned for Supreme Court-mandated statutory dues. The firm, which has to pay Rs 51,400 crore dues after the apex court ordered the non-telecom revenues to be included in calculating statutory dues, said the liability has "cast significant doubt on the company's ability to continue as a going concern".
British telecom giant Vodafone Group plc on Friday won an arbitration against the Indian government over a demand for Rs 22,100 crore in taxes using retrospective legislation.
The Union Cabinet on Thursday approved the amendment of the Telegraph Act giving statutory status to the Universal Service Obligation Fund.
The two troubled subsidiaries of Reliance Capital have over Rs 20,000 crore debt of both the companies. Reliance Home Finance has a debt of Rs 11,500 crore and Reliance Commercial Finance owes Rs 9,000 crore to lenders.
During the fourth quarter (January-March), banks step up the activity to meet annual targets. This leads to a race to raise funds from markets often by jacking up deposit rates. This time around, the market has not seen such trend yet.
The government said if the apex court considers it necessary to lay down guidelines for mainstream electronic and print media, it is the 'need of the hour' that the exercise should start first with web based digital media.
The Supreme Court on Friday directed the managing directors and directors of telcos and other firms to explain why contempt action be not taken against them for non-compliance of its order to pay adjusted gross revenue (AGR) of Rs 1.47 lakh crore to the department of telecommunications.
The Supreme Court has said that Cyrus Mistry's removal as executive chairman of Tata group was justified as a "a person who tries to set his own house on fire for not getting what he perceives as legitimately due to him, does not deserve to continue as part of any decision-making body".
The green tribunal noted that the Art of Living would have to pay a Rs 5 crore penalty and develop the entire area into a biodiversity zone.
The Centre on Sunday moved the Delhi High Court seeking recall of its order directing supply of entire allocated oxygen of 490 metric tonnes (MT) to the national capital and warning of contempt action for failure to do so.
The Universal Service Obligation fund was set up in April 2002 and a statutory status was given to it.
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.
The volume in the anonymous trading platform, NDS-OM, was Rs 7,210 crore - less than half the normal volume, but not as bad as the start of the day indicated.
Bringing corruption into the heinous crime category, the Union Cabinet on Wednesday approved official amendments to an anti-graft legislation enhancing the penalty under it to a maximum of seven years imprisonment from the present five years.
Analysts have pointed out that with the dues arising out of the SC judgment there could soon be only two private telcos in the country, and not three - Reliance Jio, Bharti Airtel and Vodafone Idea - as now.
With auditing under the scanner and two of the Big Four firms stopping non-audit services for audit clients, auditors will now be subjected to a more stringent standard of reporting.
'Problem is that the sports code is nowhere prescribing that trial is mandatory. It has given flexibility and autonomy to the organisation to decide (mode of selection)'
Meanwhile, the Directorate General of Civil Aviation has also ordered an engineering audit of the airline after the carrier is said to have found it difficult to provide equipment to operate some flights.
A committee suggested that CSR expenditure be made tax deductible, in order to incentivise spending by companies. It also said that CSR should not be used as a means of resource-gap funding for government schemes.
The airline was also asked to refund the money it charged from passengers for food and beverages as, according to the laid-down rules, it was supposed to have offered these items for free.
Vodafone's operating loss from India business jumped to 692 million euros in April-September from 133 million euros in the same period last year.
The brand integration not only marks the completion of the largest telecom merger in the world, but will also set the company on its future journey to offer strong digital experiences to 1 billion Indians on its 4G network.
Laws in several states are inconsistent with the model Bill passed by Parliament.
Trial by the media can be avoided if the industry itself devises effective mechanisms to bring this to an end
'PM-CARES money is for the relief of citizens, so what is the secrecy then?' 'Why will it harm anyone if it is revealed where the money came from and where it is going?' 'What is there to hide?'
