The managing director of International Monetary Fund Dominique Strauss-Kahn, who has been arrested in New York on alleged rape charges, does not enjoy any diplomatic immunity, the US has said. Simultaneously, the White House said it has full faith in the capabilities of IMF to continue with the important role it is playing, despite the setback of its head being behind bars in a New York prison.
Haggard and unshaven after a weekend in jail, the chief of the IMF was denied release on bail Monday on charges of trying to rape a hotel maid as allegations of other, similar attacks by Dominique Strauss-Kahn began to emerge.
The International Accounting Standards Board (IASB) on Wednesday flayed India’s dilly-dallying on implementing global accounting norms IFRS and said that it is undermining the country’s global standing. New Delhi needs to curb its anxiety to be different and stop mongering about the many unsubstantiated differences and instead should get into an honest dialogue with the IASB said Prabhakar Kalavacherla, a board member of the London-based IASB.
The Ministry of Corporate Affairs has issued clarification on loan to Public Limited Companies under Section 295 of the Companies Act. A circular issued by the Ministry in this regard says that it has come to the notice of the Ministry that some Companies are making applications for getting prior approval of Central Government when they propose to make any loan to, or give any guarantee or provide any security in connection with a loan made by any person to a Public Limited Company of which any such Director is a Director or a member even when the proposal does not fall under Section 295 (d) and Section 295 (e) of the Companies Act 1956.
The Delhi High Court today dismissed a petition seeking its intervention in deciding the maximum limit for expenses in marriage functions. “I am of the considered opinion that this court cannot venture into the issue and hence the petition stands dismissed,” a division bench of Chief Justice Dipak Misra and Justice Sanjiv Khanna said.
Taxmen have seized black money to the tune of a whopping Rs 30,000 crore in the country in the past two years, said the Central Board of Direct Taxes (CBDT) which is set to get investigative powers to boost its drive against wrong-doers. The CBDT is in the process of creating a Directorate of Criminal Investigation after getting approval from Finance Minister Pranab Mukherjee last week.
An unmarried Hindu woman is entitled to equal share in ancestral or coparcenery property along with other male members under the amended Hindu Succession Act, the Supreme Court has held. Coparcenary refers to equal inheritance which was restricted only to male members of the Hindu Undivided Family but after succesive amendements several states have chosen to extend the benefit to unmarried female members too.
Shri Anand Sharma, Union Minister for Commerce & Industry will lead Indian side in a special Meeting of India-Africa Trade Ministers to be held on May 21, 2011 in Addis Ababa. The meeting precedes 2nd Africa- India Forum Summit and will be involving Trade & Industry Ministers from all the member States. 2nd Africa- India Forum Summit is being convened on 24th – 25th May, 2011 at Addis Ababa, Ethiopia. The outcome of the Trade Ministers’ Meet will feed into the Summit Declaration of the leaders. The Prime Minister, Dr. Manmohan Singh, will visit Ethiopia on May 23-26, 2011 to participate in the Summit.
Amit Mitra, who is tipped to become the next Finance Minister of West Bengal in the Trinamool Congress-led government, has resigned as Ficci Secretary General. Mitra, 63, emerged as a ‘giant killer’ by defeating CPI(M) veteran and state Finance Minister Asim Dasgupta by a big margin from the Khardah Assembly constituency.
The Minister of State for Commerce Shri Jyotiraditya M. Scindia presented the EPCES Export Awards to EOUs and SEZ Units for Outstanding Export Performance for 2008-09, here today. Speaking on the occasion Shri Scindia said, “The exports from SEZs during 2010-11 is to the tune of Rs.3, 15,867 crore representing a growth of 43% over the previous year”. He further said that the contribution of exports from SEZs to national exports during 2010-11 is 28%. The SEZ sector is providing employment to 6,76,608 people in the country as on 31.3.2011. The total investments in SEZs are Rs.2,02,810 crore as on 31.3.2011. The SEZ Council was set up in January 2003 and the Council recognize the efforts of EOUs and SEZ Units by presenting Export Awards for their excellent performance in exports every year since inception.
