The Bombay HC has provided interim relief to foreign portfolio investor Aberdeen. The tax authorities had passed an order requiring it to pay Minimum Alternate Tax (MAT) on gains in the Indian market. The court has stayed the tax authorities' move till the matter is next heard.
The government is said to be readying a number of measures aimed at increasing public sector investment in infrastructure projects. These include funding for the Rs 200Bn National Investment and Infrastructure Fund (NIIF), announced in the 2015-16 Budget, and drawing a road map to the fund of the smart cities project, most of which is expected to come from the Centre and states.
The Biju Janata Dal (BJD) has joined the Trinamool Congress in dropping its demand that the constitutional amendment Bill for a goods and services tax (GST) be referred to a parliamentary standing committee on finance. This could pave the way for the Bill to overcome the Rajya Sabha hurdle and be passed in the current session of Parliament.
A week after the Broadcast Audience Research Council (BARC), the new media rating agency, released its first television viewership data, the Ministry of Information and Broadcasting (MIB) has sent a letter saying that they would ask BARC to stop releasing data till they complete registration formalities.
The office of the Union comptroller and auditor general (CAG) has questioned why Reliance Industries (RIL) was allowed to charge a marketing margin on natural gas in dollar terms when that allowed to state-owned GAIL was approved in rupee terms. The auditor recommended the petroleum ministry ensure the latter methodology be adopted for supply of natural gas from domestic sources for use in sectors where the government bears the subsidy burden.
The launch of the Airtel Zero platform by Bharti Airtel and Internet.org by Facebook in partnership with Reliance Communications are prima facie in violation of net neutrality principles as these are based on differential tariffs for end-consumers, says department of telecommunications (DoT) secretary Rakesh Garg.
Two public sector lenders - Bank of Baroda (BoB) and State Bank of Bikaner & Jaipur (SBBJ) - have cut their base rates, the benchmark used to price loans.
Rajashree Birla, one of the promoters of the Aditya Birla group, joined the Century Textiles board as a promoter director. The appointment, cleared by the company's board, is significant because Aditya Birla group companies are increasing their stakes in Century Textiles to 50 per cent from 45 per cent after conversion of a preferential offer of shares issued to the promoters in July 2014.
The Foreign Investment Promotion Board (FIPB) has approved AXA Group's proposal to increase stake in its life and general insurance joint ventures with the Bharti group to 49 per cent.
Apollo Tyres is planning to invest around Rs 15Bn to expand its truck-bus radial (TBR) tyres capacity at its plant in Chennai to 9,000 units a day. Satish Sharma, president - APMENA (Asia-Pacific, Middle East and North Africa) region at Apollo Tyres, said the company would increase its TBR capacity to 9,000 units a day from 6,000 units a day at present.
Reliance Communications, India's fourth largest telecom carrier, is looking to sell a majority stake in reliance Infratel, the country's No. 3 tower company, at a valuation of Rs 200-300 Bn in a bid to focus on core operations and pare debt.
The NSE will introduce seven additional securities to the futures and options contracts from May 29, 2015. Dewan Housing Finance, Kaveri Seed, Ajanta Pharma, Britannia Industries, South Indian Bank, Oil India and Bharat Electronics will be part of the derivatives segment.
Jharkhand government requests Reliance Power to reconsider its decision of terminating the agreement for proposed Tilaya Power Project.
ONGC is planning to use its Tapti assets in the western offshore to advance production of gas and condensate from its neighbouring Daman field, under Rs. 5,219 Cr plan.
Cipla’s promoter family gets go ahead for voting agreement from SEBI. The family had proposed to vote as a single unit.
Tata Steel dispute with British unions escalates. 17000 workers to vote whether or not to hold a strike
Tata Motors will not be driving in a diesel engine Nano soon, owing to "refinement and economics" issues.
Infosys asks West Bengal govt. to either be given SEZ or repay money in advance for land.
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