India today said it would next month initiate discussion on liberalising Foreign Direct Investment in sectors ranging from defence to agriculture and even retail — a source of political woes for the government in the past. The Department of Industrial Policy and Promotion (DIPP), the nodal agency for framing FDI policies, will come out with six discussion papers in mid-May on overseas investment norms.
The Corporate Affairs Ministry today said it was collecting information on all franchisees of IPL teams and described this as a part of normal practice for any company and was not a probe. “My ministry is merely collecting information that we should have in the normal course of those companies that are franchisee companies,” Corporate Affairs Minister Salman Khurshid told reporters here.
The Development Committee of the World Bank, in its meeting held on 25th April, 2010 at Washington DC, took historic decisions relating to increasing the financial capacity of the Bank and enhancing the role of developing countries in its governance. These decisions would be of great benefit to India – both as a borrower from and as a shareholder of the Bank. Changes in the World Bank’s Voting Structure
On receipt of application, concerned RA shall send a copy of the application to National Rifle Association of India for their comments. After receipt of comments from the National Rifle Association of India, RA shall issue licence to the applicant. (ii) After issue of licence, RA shall forward a copy of licence to National Rifle Association of India with reference to their written recommendation for information.
Telco has lost its trademark violation case against the Super Cassettes Industries in the Delhi High Court which allowed the electronics company to use letter ‘T’ in its T-SERIES mark, saying it was not its “monopoly”.
The Enforcement Directorate’s (ED) probe into suspected money-laundering and foreign exchange violations in the Indian Premier League (IPL) has zeroed in on 18 benaami companies based out of India who have made huge investments in some IPL franchisees.
The Board of Control for Cricket in India (BCCI) may have met the deadline for replying to the queries by the Income Tax Department concerning the Indian Premiere League (IPL), but that’s not enough. Officials pointed out that the I-T Department has found the BCCI reply “inadequate”.
India’s accounting regulator has sought the financial statements of the eight Indian Premier League franchises to study if their auditors complied with accounting standards and best practices, joining other government agencies combing through the T20 cricket tournament for a stack of sins.
Accounting regulator ICAI has requested investigation agencies CBI and SFIO and market regulator Sebi to share evidences against PriceWaterhouse auditor Srinivas Talluri in the Satyam case, at the forthcoming disciplinary committee proceedings.
The government plans to plug loopholes in investment of foreign equity from a single source into one company through multiple routes. Currently, different agencies monitor the foreign investment flow, leading to policy overlaps and violations.
