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INDIA BUSINESS WORLD - JANUARY 1st - JANUARY 15th
- 2008
The Month that was ...
News & important developments from the most prospective of the New World markets... India. Our effort is to provide you with the latest and relevant developments that take place in the Indian business, economic and legal environment.
ECONOMIC & LEGAL NEWS
LIBERHAN PANEL GETS YET ANOTHER EXTENSION TILL FEB:The longest-serving judicial panel in the country, the Liberhan Commission, which is probing the circumstances leading to the demolition of Babri structure in Ayodhya on December 6, 1992, got yet another extension - its 43rd since it was set up by the P V Narasimha Rao government... More....
MINIMUM PRICE FOR RICE EXPORT RAISED TO $500/T :The government has raised the minimum export price of rice to $500 per tonne to discourage exports and make more foodgrain available in the domestic market... More....
RBI ROPES IN HCL COMNET FOR IT OVERHAUL:In one of the RBI's largest IT implementations in the recent times, the central bank is setting up two large data centres in Maharashtra and completely overhauling its IT infrastructure, consisting of legacy applications and software, to move to modern, more robust systems. The exercise will cost RBI close to Rs 100 crore, and the contract has been awarded... More....
SUPREME COURT ASKS IPS OFFICER B B MOHANTI TO SURRENDER:THE Supreme Court has declined to stay the execution of a non-bailable warrant (NBW) against suspended IPS officer B B Mohanti, who has been accused of helping his son who jumped parole after being jailed for raping a German national in Rajasthan. The court granted two weeks' time to the Orissa cadre IPS officer... More....
RIZWAN NOT MURDERED BUT DRIVEN TO SUICIDE: CBI:The CBI has concluded that graphics designer Rizwanur Rehman committed suicide but though his wife's family did abet his decision to end life. The central investigating agency, working on the direction of the Calcutta High Court,... More....
DELHI TAX COLLECTION RISES 13%:Delhi's revenue collection grew by 13% in the first eight months (April-November, 2007-08) of the current fiscal to Rs 7,656 crore compared to Rs 6,791 crore in the corresponding period... More....
CBI SUBMITS RIZWANUR PROBE REPORT TO CALCUTTA HIGH COURT:The CBI submitted its report on the investigation into the death of computer graphics designer Rizwanur Rehman to the Calcutta High Court. The agency submitted the report in a sealed cover to Justice Dipankar Dutta, who adjourned the matter... More....
SUPREME COURT STAYS TDSAT RULING ON AGR REGIME:The Supreme Court, in an interim order has stayed TDSAT ruling on the AGR regime on Department of Telecom (DoT) plea. The Tribunal's ruling had excluded income from dividend and interest on savings, capital gains as well as benefits from foreign exchange from telecom companies' AGR for calculation... More....
CBI WANTS TO SEE JASBIR IN PERSON:The CBI has told the Delhi High Court that it was difficult for it to record the statement of Jasbir Singh - a US-based witness in the 1984 anti-Sikh pogrom case - through video conferencing. Congress leader Jagdish Tytler ... More....
NEW TAX REGIME TO TIGHTEN GRIP ON INDIVIDUALS :Individuals will have to start reporting their income from all sources in due course, including tax-free income. The government is vetting a proposal to shift from an exemption to a deduction-based regime for reporting income, a government official said. This means while computing the tax outgo, an individual has to include income... More....
FICCI SEEKS INFRASTRUCTURE STATUS FOR SOLAR ENERGY PROJECTS:Ficci has sought infrastructure status for solar energy projects to give a fillip to renewable and environment friendly source of energy that holds potential of reducing the country's power deficit. Ficci president Habib Khorakiwalla... More....
HUDCO MAY FLOAT TAX-FREE BONDS:You may soon be able to get another tax-free option to park your capital gains. The government is likely to allow Hudco to float capital gains exemption bonds on the lines of National Housing Board (NHB), Rural Electrification Corp (REC), Nabard and NHAI. The ministry of urban housing proposal is with the finance ministry... More....
DUTY ON PLASTICS MAY BE HALVED:The government is considering a proposal to slash the 16% excise duty - the tax on production levied at the factory gate - on plastics by half to drive consumption of plastics in agriculture, packaging, irrigation, geotextiles... More....
DELHI HIGH COURT ISSUES NOTICE TO CBI IN UPHAAR CASE:The Delhi High Court has issued notice to the Central Bureau of Investigation (CBI) to file its reply on January 4 on businessman Gopal Ansal's appeal for suspension of his sentence in the Uphaar cinema... More....
DELHI POLICE CLAIM DECLINE IN CAPITAL'S CRIME GRAPH:The Delhi Police has claimed that there was a decline in the total crime graph in the national capital last year as compared to 2006... More....
FOREST RIGHTS ACT WILL UNDO INJUSTICE, SAYS MINISTRY:With the just-operational Forest Rights Act receiving flak both from the wildlife lobby and the tribal rights groups, the Tribal Affairs Ministry has came out with a note on the new law, asserting that it would finally help... More....
SUPREME COURT DISMISSES REHABILITATION PETITION OF APPU GHAR WORKERS:The Supreme Court has dismissed a petition filed by Appu Ghar 'Karamchari Sangh' seeking directions from the Centre to rehabilitate them in view of the closure of Appu Ghar from... More....
NO HEARING WHEN RBI SUPPRESSES MANAGEMENT OF COOPERATIVE BANKS: SUPREME COURT:The Supreme Court has ruled that in case of suppression of the management of a co-operative bank by the Reserve Bank of India (RBI) to safeguard the interests of small investors, no hearing would be given to the management ... More....
WOMEN EMPOWERMENT, CHILD WELFARE, HEALTHCARE, EDUCATION THE FOCUS ON PBD 2008:Shri. Vayalar Ravi, Minister for Overseas Indian Affairs said that we want to engage the diaspora at every level through the Pravasi Bharatiya Divas. He was addressing a curtain-raiser press conference for the 6th Pravasi Bharatiya Divas to be held New Delhi from 7-9 January 2008. The theme of the convention is engaging... More....
CENTRE SAYS CJIS BYPASSING SUPREME COURT DIRECTIONS ON PERMANENT JUDGES:The Centre has informed the Supreme Court that successive Chief Justices of India (CJIs) have been bypassing the apex court's judgements directing not to make any additional judge permanent without consulting... More....
DELHI HIGH COURT RESTORES GANDHI PEACE FOUNDATION LEASE AFTER 21 YRS:After 21 years of legal battle, Gandhi Peace Foundation, a charitable institution engaged in promoting Gandhian Values, has been restored its lease... More....
DELHI HIGH COURT DIRECTS CAG TO PAY PENSIONARY BENEFIT TO WIDOW:The Delhi High Court has directed the Comptroller and Auditor General to release the pensionary benefits of the widow of an employee working with them, which were illegally deducted against the dues... More....
ARMED FORCES TRIBUNAL ACT NOTIFIED:The Union Government has notified the Armed Forces Tribunal Act, 2007 which will pave the way for the setting up of a tribunal dealing with disputes relating to the personnel of the three Services. The Armed Forces Tribunal Bill 2007, passed by the Parliament... More....
CBI SUBMITS REPORT ON RIZWANUR CASE AT CAL HIGH COURT:The Central Bureau of Investigation has submitted its report on the Rizwanur Rahman mysterious death case before Calcutta High Court... More....
HIGH POWERED GROUP TO RECOMMEND MEASURES FOR GROWTH OF MANUFACTURING SECTOR:The Prime Minister has constituted a High Powered Group under the Chairmanship of Dr. V. Krishnamurthy, Chairman, National Manufacturing Competitiveness Council (NMCC) for suggesting various measures to ensure the continuing growth of the manufacturing sector in the country which of late is showing signs of deceleration. The Secretaries to the Government Finance... More....
AMENDMENTS PROPOSED TO FOOD ADULTERATION RULES:The Government of India, Ministry of Health & Family Welfare, Department of Health has issued a draft notification proposing amendment to standards of olive oil under Prevention of Food Adulteration Rules, 1955. This notification has been published in Part II... More....
PRESIDENT CALLS FOR PROACTIVE ENGAGEMENT OF NRIS IN DEVELOPMENT:The President of India, Smt. Pratibha Devisingh Patil, called upon the overseas Indian community to proactively engage in the growth of the country. Urging the community to come up with innovative ideas that can help build a critical mass of development, she observed that the overseas Indian community is impressive in terms of its size, spread and growing influence... More....
PM WRITES TO CMS ON SPEEDY IMPLEMENTATION OF SCHEDULED TRIBES AND TRADITIONAL FOREST DWELLERS ACT:The Prime Minister, Dr. Manmohan Singh has written to the Chief Ministers of all the states seeking their cooperation and commitment to ensure effective implementation of the Scheduled Tribes and Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006. The act requires State governments to constitute committees that will process the cases and ensure... More....
UPHAAR CASE: CONVICTED DELHI VIDYUT BOARD STAFF MOVE DELHI HIGH COURT:The Delhi High Court has admitted a petition by a former Delhi Vidyut Board employee praying for suspension of seven-year rigorous imprisonment in the 1997 Uphaar fire tragedy case... More....
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