The Supreme Court will hear on July 4 a Sahara group firm’s plea challenging a SEBI order directing the company to return money collected from investors through a scheme along with 15% interest.
India has come under criticism for imposing fresh taxes on international air travellers in the current budget, with global aviation experts terming it as an easy “financial grab” that would affect the economy in the long run. While taxes provide a tangible short-term revenue boost to the government coffers, increased taxes in the long term can be outweighed by the cost to the underlying economy”, said an aviation finance specialist, Charles Tyler.
Qatar’s Supreme Council for Health (SCH) has warned against the use of Dr Ming’s Herbal Tea, produced by Chinese Angel Export and Import Company Ltd and used for slimming and weight reduction. SCH’s pharmacy and medicine monitoring department said the product contained the chemical element Sibutramine, an appetite suppressant found in weight-loss drug Reductil, which is banned all over the world on the grounds it can cause cardiovascular problems and strokes, Qatari daily Gulf Times has reported.
Union Finance Minister Shri Pranab Mukherjee has urged State Governments to reduce levies on Diesel, Kerosene and Domestic LPG in line with the duty cuts undertaken by Government of India, so as to provide some relief to the common man. In a letter to the Chief Ministers of States , Shri Mukherjee has sought the co-operation of States in this regard.
The Ministry of Civil Aviation has set up an Independent Accident Investigation Committee on 26.5.2011 to ensure independent, fair and transparent investigation of accidents. This Committee will work under oversight of Ministry of Civil Aviation. The Committee will have following functions and responsibilities:- Draw up a formal procedure for the notification of an accident of serious incident.
Retirement fund body EPFO will appoint the multiple fund managers to manage its huge corpus of Rs 3.5 lakh crore by July 31, a month ahead of its latest deadline. Employees’ Provident Fund Organisation (EPFO) will be able to wind up the process of appointment of fund managers by July 31, a Labour Ministry official said.
) The government has modified the guidelines for filling board-level vacancies in state-owned companies in time and also to help the Central Public Sector Enterprises (CPSEs) to improve performance. Under the new guidelines issued by the Public Enterprises Selection Board (PESB), the exercise to appoint board level functionaries would be initiated 16 months prior to the anticipated date of vacancy.
As many as eight Indian-origin persons, including those working with Tatas and Bharti group, have been named among 40 young leaders of the global telecom industry. Indians featured in the ’40 under 40′ list by Global Telecoms Business (GTB), a telecommunications magazine, include Srinivasa Addepalli of Tata Communications, Pankaj Agrawal (Aircel), Ajay Chitkara (Bharti Airtel), Gauri Raizada (Tata Teleservices) and Rene Meza (Airtel Kenya), Mukesh Bavisi (Exponential-e), Udit Mehrotra (Shyam Networks) and Upendra Poranki (Nokia Siemens Networks).
Sebi is set to reopen its probe into multi-crore IPO scam of 2003-2006, after more than a year of declaring as ‘null and void’ the charges made by its own committee against depository NSDL and others in the matter. Sebi will discuss afresh in its next board meeting on June 30 a two-member committee’s investigation report on the scam, except the part where the market regulator itself was accused of failing in its regulatory role, sources told PTI.
The 194th meeting of the Central Board of Trustees, EPF, which was the eleventh regular meeting of the present Board, was convened here today. The Board deliberated upon a proposal for further extension of the selection process of the new fund managers for a period of two months effective from 01.07.2011. The Board also stipulated that the Employees’ Provident Fund Organisation EPFO would finalize the selection of fund managers before the expiry of the extended period. Till such time the State Bank of India would continue as fund manager of EPFO corpus.
