One month after MHA ordered a CAG audit, Rajya Sabha MP Subhash Chandra’s son stepped down as director of a company involved in the Mizoram state lottery violations.
While firms in the FMCG and auto sectors have done well, certain power, steel and telecom companies – where access to natural resources and political connections are crucial to success – have performed horribly.
Proponents of the project refused to let those bringing up environmental and health concerns say their piece.
The deal, initiated about two years ago, will help Rosneft in gaining access to India’s rising fuel retail market.
With their scorched-earth strategy, a small group of shareholders consisting of the founders and their supporters have managed to have their way when they do not have the numbers that would allow them to legitimately do so.
With Sikka’s exit, the board-founder dispute will almost certainly get nastier. What also remains uncertain is Infosys’s future and how it will manage to effect a turnaround during a dangerous time for the software services industry.
The company’s board says the primary reason for his exit was Murthy’s latest letter claiming “corporate governance” issues and Sikka not being CEO material.
The businesses that moved have left a deep legacy on the economic and developmental policies in both India and Pakistan.
The systematic crackdown on shell companies, which have no active business operations or assets, is one of the most tangible outcomes of demonetisation.
Directorate of Revenue Intelligence report shows how an Adani subsidiary allegedly used a Dubai-based front company to over-invoice imports and then move Rs 1,500 crore to a Mauritius-based firm controlled by Gautam Adani’s brother.
Despite government press releases, demonetisation doesn’t appear to have spurred a substantial increase in number of new tax payers or direct tax collection.
India’s Lacklustre Approach Towards International Trade is Hurting its Foreign and Economic Interests
From alarming agricultural imports to losing Africa, India needs to aggressively protect its trade interests and explicitly link it to our foreign and domestic goals.
Sectors such as mining, power generation, infrastructure/construction goods and consumer durables also recorded poor performance.
As of July 21, 2017, credit growth has decelerated by Rs 1.5 lakh crore, a new historic low.
High courts across India have repeatedly used blocking injunctions as a blunt tool to fight piracy. But as a result, the people’s right to access the internet is being severely curtailed.
Millions of companies are still not ready to file their first GST returns before the August 20 deadline, a top official said.
The partnership defies 20th-century notions of a public private partnership and offers a glimpse of the private sector tipping its hat to the sovereign function and prerogative in identifying and authenticating the beneficiaries of a digital service.
Most parts and processes of the industry were largely tax exempt under previous regimes. Stakeholders believe that the transition to GST, which comes with high rates, will severely impact an already struggling sector.
Kumar, a senior fellow at the Centre for Policy Research, will take up the reins from economist Arvind Panagariya, who put in his papers four days ago.
The Centre’s pharmaceutical pricing agency has issued a demand-notice for Rs 1,26,547 from a Haryana hospital, which sources say is the first of many more recoveries.
Such rules are common overseas but are not set in stone in India, where campaigners have long demanded a crackdown on unethical selling practices.
Surging prices caused by the tax dented demand for services and pushed the sub-index on new business to 45.2 in July, its lowest in nearly four years.
Mining companies on the hook include Tata Steel, Essel Mining & Industries Ltd, Indrani Patnaik, Rungta Mines, Serajuddin & Company.
As Modi’s CBI drags its feet, US authorities have also obliquely reminded India of its obligations under the UN Convention Against Corruption and the Palmero Convention
The best approach to solve the turf war is to have mandatory consultation between the regulators, which can be achieved by revisiting the legal framework.
Despite approval from the Competition Commission of India and India’s Foreign Investment Promotion Board, some in the government have expressed concerns.
While the FCC and TRAI chairmen may share similar goals, India’s telecom regulator should pick and choose what it wants to take away from the US debate.
Snapdeal has announced it has ended talks regarding its sale to rival Flipkart closing out months of negotiation in a deal valued at up to at $950 million.
If the finance ministry is serious about restoring the health of the banking sector, it cannot afford to discriminate between those that won coal blocks and spectrum during the NDA rule and the other defaulting companies.
It also characterised recent decisions taken by CBI, ED and income tax department as “attempts to intimidate and paralyse” the news organisation.
The negotiator’s comments were non-committal but indicated that for now, the RCEP talks have not yet moved decisively into a TRIP-plus scenario.
The Bill passed seeks to strengthen corporate standards,deal stringently with defaulters and improve ease of doing business.
With the RCEP asking for stronger protection for its investors, India is reviewing and trying to replace its investment treaties with a new model.
Shareholders of Snapdeal will now have to approve the deal, the sources told Reuters, declining to be named as the discussions are not public.
A new study has, for the first time, unveiled a complex global web of offshore financial centres that rob the world economy of US$500-650 billion annually, including US$200 billion from developing economies.
The National Stock Exchange has surged 22% this year, just behind South Korea’s and Hong Kong’s markets making it South Asia’s third-best performing market this year.
The inter-ministerial group is likely to give in to a request for a hike in the duration of deferred spectrum payments, a move that could help increase the cash flow of telcos by Rs 55,000 crore.
Capital expenditure has been cut for police services, public construction and ironically various agriculture-associated sectors.
The numerous conditions and riders attached to how the e-bill system functions will almost certainly hamper ease of doing business.
Finance Minister Arun Jaitley said that these two reforms combined will “certainly lead to greater compliance, greater digitisation,” adding that “expansion of the tax base of direct and indirect taxes is already visible.”