In a major relief for Prime Minister Manmohan Singh, the Supreme Court on Tuesday observed that there has been no intention on the PM’s part to block Subramaniam Swamy’s complaint in the 2G spectrum case.The Supreme Court was hearing the affidavit
The central government is keen to implement its service tax on commercial space rentals rule but the Supreme Court (SC) has issued a reprieve. The SC declined to lift a Delhi high court stay on recovery of service tax from a company for renting immov
Concerned over the quality of papers that mutual fund . are investing in, market regulator SEBI has asked six of them to refile their offer documents for capital protection scheme. In a capital protection scheme, fund houses usually invest a hefty c
The CBI has collected documents from the ministry of corporate affairs about companies which were granted spectrum allegedly in an arbitrary fashion between September 2007 and January 2008. According to CBI sources, the MCA documents deal with the sh
The Labour and Employment Ministry has requested the Finance Ministry to keep Employees’ State Insurance (ESI) and Employees’ Provident Fund (EPF) schemes out of the ambit of service tax as they are social security schemes. “If the provisions of ser
Mobile service operator Vodafone is in talks with foreign banks to provide counter guarantee to nationalised banks in India for a sum of Rs 8,500 crore. This follows an order from the Supreme Court last week asking the telco to furnish a bank guarantee of a nationalised bank and set aside Rs 2,500 crore in cash with the court.
The Minister for Corporate Affairs has informed the Lok Sabha that the Registrars of Companies (RoC) received complaints against various companies from stakeholders, such as shareholders, creditors, financiers, other Government Departments, members o
The Financial Stability Development Council (FSDC) is expected to come into force in the month of December, 2010. The Ministry of Finance has consulted all the financial sector regulators on the formation of the Council. The objectives of FSDC would
The Small Industrial Development Bank of India (SIDBI) has reported that SKS Microfinance Ltd. (SKS), the only Micro Finance Institution (MFI) in India to be listed on the Bombay Stock Exchange/National Stock Exchange (BSE/NSE) had gone for an initia
Normally banks do not charge from their customer for depositing money to their own account. However, some banks levy charges for cash payment against credit card bills. Charges are collected at the time of accepting cash. As per the Reserve Bank of I
