|
INDIA BUSINESS WORLD - FEBRAURY 16th - FEBRAURY 29th - 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
SPECIFIC DUTY TO REPLACE THE AD VALOREM PART OF THE EXCISE DUTY ON OIL, CUSTOMS DUTY REDUCED ON SEVERAL ITEMS, MORE:Presenting the Annual Budget for a fifth consecutive year, the Finance Minister replaced the ad valorem part of the excise duty on unbranded petrol and unbranded diesel with a specific duty.....More....
JUDGES NOT TO INTERFERE WITH ECONOMIC AND OTHER REGULATORY LEGISLATION UNLESS FUNDAMENTAL RIGHTS ARE VIOLATED, SAYS TWO-JUDGE BENCH OF APEX COURT: No change has been effected in the peak rate of customs duty in the General Budget 2008-09.....More....
RELIEF PROVIDED IN DIVIDEND DISTRIBUTION TAX:The General Budget 2008-09 has provided relief in the Dividend Distribution Tax (DDT). A parent company is now allowed to set off the dividend received from its subsidiary company against dividend distributed by the parent company..........More....
AIDS DRUG EXEMPT FROM EXCISE DUTY:The anti AIDS drug Atazanavir as well as bulk drugs for its manufactures have been totally exempted from excise duty in the General Budget 2008-09 proposals...........More....
SERVICE TAX HIGHLIGHTS IN BUDGET 2008:Rate of service tax remain unchanged Threshold limit, providing service tax exemption to small service providers, increased from Rs 8 lakhs per year to Rs 10 lakhs per year.....More....
EXCISE HIGHLIGHTS IN BUDGET 2008:General CENVAT rate reduced from 16 per cent to 14 per cent.............More....
CUSTOMS HIGHLIGHTS IN BUDGET 2008:Peak customs duty rate on non-agricultural items remains unchanged. Customs duty on project imports has been reduced from 7.50 per cent to 5 percent.........More....
JUDGES NOT TO INTERFERE WITH ECONOMIC AND OTHER REGULATORY LEGISLATION UNLESS FUNDAMENTAL RIGHTS ARE VIOLATED, SAYS TWO-JUDGE BENCH OF APEX COURT: In a judgement reiterating judicial restraint, the Supreme Court has said that the legislature must be given freedom to experiment on exercising of its power......More....
ECONOMIC SURVEY: MEASURES FOR RELIEF FOR EXPORTERS AFFECTED BY RUPEE APPRECIATION: While the rupee appreciated against other major currencies for most parts of the year, it was modest as compared to the rise against the US dollar.......More....
Others..
BUSINESS NEWS
DISNEY HIKES STAKE IN UTV TO 32%: Walt Disney has reached a deal to more than double its stake in Indian TV and movie content maker UTV, the two firms said, underscoring the US firm’s efforts to expand globally.... More....
RBI ALLOWS UBS INDIA ENTRY AFTER ENFORCEMENT DIRECTORATE CLEARS UBS’ NAME IN IRREGULAR FOREX DEAL CASE: Less than a fortnight after the Reserve Bank of India said the grant of banking licence to UBS was on hold, the regulator said that a licence has been issued to the Swiss banking group.... More....
INDIABULLS GETS GREEN LIGHT FROM SEBI TO FLOAT AN ASSET MANAGEMENT COMPANY: Indiabulls Financial Services (IBFSL), a leading stock-broking firm, has received Sebi nod to float an asset management company (AMC). Indiabulls AMC will be a subsidiary of IBFSL.... More....
SECURITIES APPELLATE TRIBUNAL (SAT) UPHOLDS SEBI PENALTY ON HSBC SECURITIES: The Securities Appellate Tribunal (SAT), Mumbai, has upheld a penalty imposed by the capital market regulator on HSBC Securities and Capital Markets...........More....
GOVT APPROVES SECURITIES FOR SBI RIGHTS ISSUE: The Cabinet has approved a proposal to issue special marketable securities worth Rs 9,995.99 crore to subscribe to the rights issue of State Bank of India (SBI) ........ More....
ROYALTY PART OF IMPORT PRICE, SAYS SUPREME COURT: The Supreme Court in a ruling has said that pricing arrangement between a foreign collaborator and an importer is a clue to decide the contentious issue of technical know-how fees and royalty...........More....
RIL-RNRL GAS ROW CASE ADJOURNED TO APRIL 11: The Bombay High Court has adjourned the hearing on the gas dispute between Reliance Industries (RIL) and Reliance Natural Resources (RNRL) to April 11 at the request of the latter..........More....
SWISS CO LA ROCHE DRAGS CIPLA TO HC FOR PATENT VIOLATION: Swiss company F Hoffmann La Roche has moved the Delhi High Court, seeking a direction to restrain Indian pharma major Cipla from manufacturing and selling anti-cancer drug 'Tarceva'......More....
DIVIDEND FROM DTAA NATIONS NOT TAXABLE: SC: In a setback to the income tax department, the Supreme Court has upheld that dividend income received from a foreign company is not liable for taxation when there is a Double Taxation Avoidance Agreement (DTAA) with the country the firm is based in......... More....
GENERAL INSURANCE GROWS 12% IN JAN: The general insurance industry grew by about 12% during January with robust performance by private players like Reliance General and Cholamandalam...... More....
Others..
NEW DEVELOPMENTS AND JOINT VENTURES
TATA TIES UP WITH US HELICOPTER FIRM SIKORSKY:In yet another milestone in its entry into the defence sector, the Tatas announced a tie-up with US helicopter firm Sikorsky to manufacture chopper cabins in India.... More....
BAO STEEL OF CHINA FORGES JV WITH VISA STEEL LIMITED: BAO Steel of China has picked up 35% in a JV with Visa Steel Limited. The new company, Visa Bao Limited, was incorporated earlier this month.... More....
BIOCON BUYS MAJORITY STAKE IN AXICORP: India's premier biotechnology company, Biocon, has achieved a major breakthrough in Europe by acquiring a majority stake in AxiCorp Pharmaceuticals, a leading German company.... More....
FORTIS GROUP COMPLETES MALAR HOSPITALS ACQUISITION: North India's healthcare major, Fortis, has completed its maiden acquisition in Tamil Nadu. The acquisition of the 180-bed Malar Hospitals has paved the way for Fortis' entry into south..... More....
RANBAXY BOARD OKS DEMERGER OF NEW DRUG UNIT INTO SUBSIDIARY: Ranbaxy Laboratories has announced that its board of directors has approved demerger of the company’s New Drug Discovery Research (NDDR) unit into a subsidiary, Ranbaxy Life Science Research Ltd (RLSRL)....More....
JET, AIR CANADA STRIKE STRATEGIC PARTNERSHIP: Jet Airways, India’s largest private carrier, has struck a strategic partnership with Air Canada aimed at seamlessly transferring passengers between the airlines at London’s Heathrow airport....More....
Others..
|
