INDIA BUSINESS WORLD - MAY - JUNE 2007

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

INFLATION RATE DROPS BELOW FIVE PERCENT: Inflation has finally fallen below the 5% mark, closer to the Reserve Bank of India's (RBI) comfort zone of 4-4.5% for the medium... More...

GDP BEATS FORECAST WITH 9.4% GROWTH: The economy grew a whopping 9.4% in 2006-07, beating the advance estimate of 9.2% and pushing its absolute size to forty lakh crore rupees... More...

ARGENTINIAN COURT REJECTS CBI'S PLEA TO EXTRADITE QUATTROCCHI: An Argentinian court rejected the Central Bureau of Investigation's request to extradite Italian businessman Ottavio Quattrocchi... More...

SERVICE TAX ON RENT RECEIVED FROM PROPERTY LET OUT FOR COMMERCIAL USE: Service tax will be charged on renting of immovable property and this includes renting, letting, leasing, licensing or other similar arrangements... More...

PROFESSIONAL NEGLIGENCE INSURANCE FOR LAWYERS: There is good news for lawyers and companies that make big investment decisions based on their advice... More...

STATES FINALLY AGREE ON SINGLE STAMP DUTY RATE: Financial instruments like debentures and promissory notes will soon attract a uniform stamp duty across the country. At present, tax on financial contracts varies from... More...

NO SEZ LAND TRANSFER WITHOUT FARMERS' NOD: The Union commerce ministry told the Maharashtra government that no land acquisition for SEZs shall be completed till farmers... More...

NOW BROADCASTERS TO TAKE FIPB CLEARANCE FOR NEW FORAYS: Broadcasting sector companies working with a foreign partner may now have to take prior approval from Foreign Investment Promotion Board for undertaking any new activity... More...

INCOME TAX TIGHTENS TRUST NORMS: Charitable organisations will not be able claim incometax exemption retrospectively... More...

BHARAT SANCHAR NIGAM LIMITED (BSNL) SLASHES ISD RATES: Bharat Sanchar Nigam Ltd. (BSNL) has reduced call rates to the US, Canada and the Gulf to Rs 1.75 per minute and Rs 6.75 per minute... More...

SUPREME COURT DECLINES CBI PROBE INTO FAKE ENCOUNTER: Turning down the plea for a CBI probe into the fake encounter killings of Sohrabuddin Sheikh ... More...

OBC RESERVATION ISSUE NOW REFERRED TO LARGER BENCH: In a relief to the UPA government but with uncertainty over the implementation of reservation for OBCs... More...

SUPREME COURT REFUSES TO STAY HIGH COURT FINE ON TRAFFIC VIOLATORS: The Supreme Court declined to stay heavy penalties imposed by the Delhi high... More...

SHILPA GETS APEX COURT RELIEF FROM MORAL POLICE: The Supreme Court stayed the proceedings by a Rajasthan court against her on the kissing... More...

BUSINESS PROCESS OUTSOURCING TOUCHES NEW PEAK: Move over night long slogs on mundane outsourcing jobs. The $9 billion business process... More...

SUPREME COURT HAS RULED SEBI CANNOT DECIDE TAKEOVER PRICE: THE Supreme Court has ruled the Sebi cannot object to the price offered by the acquirer of shares unless... More...

GOVT FREES VOLUNTARY SEZ LAND BUYS: This will come as a relief to special economic zone (SEZ) developers. The government... More...

JUDGES DIFFER ON DEATH SENTENCE: THE fate of self proclaimed godman Swami Shraddhanand, convicted for killing his... More...

INFLATION LEASHED TO 4 MTH LOW: Increase in prices the main concern of the UPA government in the last few months... More...

KETAN PAREKH PLEA REJECTED AGAINST SEBI: Taking a serious view on price manipulation of scrips in the securities... More...

REALTORS USE TAX HAVENS TO SNEAK IN THE DOLLARS: Smart investors are often a step ahead of rule-makers. The Indian property market... More...

SAHARA HOUSING FACES PROBE FOR NOT KEEPING AD PROMISE: The department of consumer affairs is learnt to be investigating complaints against... More...

BSNL SLASHES ROAMING RATES: A Week after Reliance Communications slashed roaming charges on select tariff plans... More...

CYBER CRIME GETS BIGGER PHISHERS FORM NETWORKS: Crime pays and cyber crime pays even better, going by the findings of the Internet... More...

REMOVE SANCTION CLAUSE TO PROSECUTE POLITICIANS, BABUS : Questioning UP governor T V Rajeswar's decision of not according sanction for prosecution... More...