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Top industrialist Ratan Tata and corporate lobbyist Niira Radia were today quizzed by Parliament’s Public Accounts Committee (PAC) in connection with alleged irregularities in the 2G spectrum allocation. Radia, whose tapped phone conversations with politicians, corporates, bureaucrats, and journalists form a key part of the investigations into the 2G spectrum scam, is believed to have told the Committee that some of the tapes of her purported talks were doctored.
Already drawing flak for South Africa’s early exit from the World Cup, outgoing cricket captain Graeme Smith has drawn more criticism for staying back in India even after the quarterfinal defeat to avoid paying income tax back home. Smith, currently in Ireland to visit his girlfriend pop star Morgan Deane, reportedly asked to stay on in India instead of facing the music with the rest of the side when it returned home last week.
With the world under their feet after lifting the World Cup, Dhoni’s daredevils are also set to stamp their authority in the endorsement market with their brand equity set to touch to new highs. While the historic win will push captain Dhoni to a new trajectory in the branding business, others like Yuvraj Singh will also see a rejuvenation, while even youngsters such as Virat Kohli and Suresh Raina are tipped to benefit immensely. As for the master blaster Sachin Tendulkar , the win will re-enforce his already strong brand equity.
Promoters of Unitech Wirless , the company which benefited the most in the 2G spectrum allocation scam, gained Rs 2,342 crores, the CBI told a special court in its charge sheet against former Telecom Minister A Raja , besides eight others and three telecom companies. The investigating agency said a subscription agreement on October 28, 2008 between various Unitech group companies and others had decided to infuse extra equity in the companies for 66.5 per cent stake.
Private provident fund trusts have enough surplus to be able to pay over 9.5 per cent interest on PF deposits, says an analysis by the Employees’ Provident Fund Organisation’s (EPFO). Some of the private PF trusts have sufficient funds to pay interest of up to 11.5 per cent on the retirement funds of their employees, the analysis said.
Soon, you will be able to know how energy efficient your mobile phone charger is. The Power Ministry is preparing to introduce energy labelling system for mobile phone chargers, as part of its efforts to promote energy conservation. “We are working on introducing star (energy) labelling system for mobile phone chargers. It will be voluntary (for the makers of chargers) in the beginning and later, we plan to make it mandatory,” a senior Power Ministry official said.
Majority of investors want the government to keep national accounting standards as close to the international norms (called IFRS) as possible, says a survey conducted by the global accounting firm Ernst & Young. According to the report ‘IFRS convergence: an investor’s perspective’, the firm has found that 55 per cent of Indian investors surveyed are willing to accept only a few departures from the IFRS standards set by the International Accounting Standards Board (IASB), while 28 per cent are in favour of full adoption.
Pre-tournament favourites India spectacularly broke the jinx of a host nation not winning the World Cup, by clinching the sport’s most treasured prize by vanquishing Sri Lanka in the summit clash at the Wankhede Stadium here tonight. When Mahendra Singh Dhoni and his men crossed the finish line after overhauling Sri Lanka’s stiff target of 275, it was the first-ever time in the tournament’s history that the nation hosting the grand finale had come out trumps.
Country’s largest lender State Bank of India on Friday revised interest rates for deposits by non-resident Indians (NRIs) across maturities and currencies. Under the revised rate structure, NRIs will get up to 26 basis points more for deposits in foreign currencies, while the rates for deposits in Indian rupee have gone down marginally, a release issued here by the bank said.
Non-submission of detailed contingency (DC) bills worth Rs 11,854 crore, defalcation and loss to the tune of Rs 407.97 crore up to March 2010 are among the highlights of the CAG report on Bihar finances for 2009-10. Talking to reporters, Principal Accountant General (Audit), Bihar, P Dinaraj said that of Rs 14,272 crore drawn on 58,423 abstract contingent (AC) bills, only 7,435 DC bills for Rs 2,418 crore were submitted to the Accountant General (A and E), Bihar, up to March 2009.
