The Supreme Court Monday was angry at the Enforcement Directorate’s (ED) which submitted its second status report on money laundering by India’s top tax evader Hasan Ali. A bench of Justice B. Sudarshan Reddy and Justice S.S. Nijjar said: ‘When we look at the (status) report, it is very difficult to remain calm and poised as to what was happening in the country. Let the people of this country know what is happening.’
Rheema Khan, the wife of Pune-based stud farm owner Hasan Ali, would be present in the Supreme Court tomorrow when the Enforcement Directorate submits a status report of the probe into his alleged money-laundering activities. “Hasan Ali’s wife would appear before the Supreme Court tomorrow,” said his lawyer, advocate I A Bagadia here.
In view of huge discrepancies found in transactions at stock exchanges, the Income Tax Department has asked NSE, BSE and other bourses to submit monthly statement of all transactions from April. According to sources, the I-T department has analysed data and found huge mismatch in the information provided by certain brokers to the stock exchanges.
The government has set the ball rolling for estimating black money by signing agreements with three leading think-tanks NCAER, NIFM and NIPFP to conduct study on unaccounted income generated inside and outside the country. They have been given 18 months to complete the study and also suggest administrative and legal measures to prevent generation of black money, according to sources.
Maharashtra Government is in the process of formulating a comprehensive labour policy in order to promote harmonious relationship between employers and workers. “The policy provides guidelines on the interaction between the workers and employers in the organised sector, on role of trade unions and employer’s organisations and also guideline for protection of workers in the unorganised sector, including those who are self-employed,” Principal Secretary (Labour) Dr Kavita Gupta said.
Faced with the Herculean task of handling lakhs of investor complaints, market regulator Sebi plans to rope in third party agencies for processing and maintenance of these grievances. The decision to outsource processing and maintenance of investor grievances has been taken by Sebi to help it resolve these complaints on a fast-track basis, a senior official said.
Wipro Chairman Azim Premji on Thursday came out strongly against the idea of formulating laws on mandatory spending by industry on corporate social responsibility. “I don’t think you generate CSR by putting statutory requirements. I think there is enough social consciousness among the larger companies to drive it on the basis of what they consider their responsibility,” he said.
The British government on Wednesday said that first-time house buyers in the United Kingdom will be offered interest free loans to help them get a foot on the housing ladder. Up to 10,000 people will receive loans of up to 20 per cent of the value of new properties, Chancellor George Osborne said, while presenting the Budget for 2011-2012 in the House of Commons.
Orissa will hereafter be called ‘Odisha’ and the Oriya language will be known as ‘Odia’ with Parliament giving approval to amendment of the Constitution and also passing the related bill. The Rajya Sabha passed the Orissa (the Alteration of Name) Bill and adopted the Constitution (113th) Amendment Bill after a brief debate with members from all parties hailing the move as “historic” for people of the state.
Committing to expedite the financial sector reforms, Finance Minister Pranab Mukherjee today exuded confidence that India will achieve over 9 per cent economic growth rate in the coming years. “With strong macro-economic fundamentals and the resilience shown… by the economy in face of adversities, I am confident that we are headed for a 9 per cent plus growth in the coming years”, Mukherjee said while addressing a award function organised by Bloomberg UTV television channel.
