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INDIA BUSINESS WORLD - AUGUST (16th - 31st) 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
SC REFUSES TO ISSUE DIRECTIONS TO CONTROL MISLEADING ADS ON MAKERS OF SOFT DRINKS: The Supreme Court has refused to issue directions to control alleged misleading advertisements on makers of soft drinks after the centre said that adequate provisions are already in place to deal with the issue. More....
INCOME TAX DEPARTMENT MOVES SC AGAINST AUTHORITY FOR ADVANCED RULINGS ON TAXING ASSIGNMENT PAYMENTS: THE income-tax department has moved the Supreme Court challenging the findings of the Authority for Advanced Rulings. More....
SUPREME COURT STAYS SECURITIES APPELLATE TRIBUNAL ORDER DIRECTING BROKING FIRM TO PAY FEES: THE Supreme Court has stayed a Securities Appellate Tribunal order directing a brokerage firm to pay registration fee to the Sebi. More....
SANJAY DUTT, FIVE OTHERS GET INTERIM BAIL FROM APEX COURT: Technicalities of our legal system turned into favour of Bollywood star Sanjay Dutt who was granted interim bail by the Supreme Court. More....
SALMAN GOES TO JAIL FOR KILLING AN ANIMAL: ACTOR Salman Khan will have to go to jail after the Jodhpur sessions court upheld the five-year jail term and a fine of Rs 25,000 on him in the chinkara poaching case. More....
ACCOUNTANTS LOSE SERVICE TAX CASE: THE Supreme Court has ruled that Parliament is empowered to levy service tax on practicing chartered accountants, cost accountants and architects. More....
SUPREME COURT REFUSES TO BAN COW SLAUGHTER: IN A significant ruling the Supreme Court has said the controversial issue of a ban on cow slaughter was a policy matter on which the decision has to be taken by the government. More....
SEAL OR FACE COURT CONTEMPT, SUPREME COURT WARNS CENTRE AND MCD: THE Supreme Court has warned the Centre and MCD of contempt proceedings if they show any reluctance in implementing the court-mandated sealing drive of commercial constructions in nearly 1,500 unauthorised colonies of the Capital. More....
DELHI HIGH COURT RESTRAINS LOCAL FIRM FROM USING PEPSI'S 7UP TRADEMARK: The Delhi High Court has restrained an Udaipur-based company, Sunrise Beverages, from selling its soft drinks under the trademark 7th UP as it is similar to global beverages giant Pepsi's mark 7UP. More....
FDI INFLOWS TREBLE TO $11B: FDI inflows into the country more than trebled to $11.4 billion in the first six months of calendar year 2007 with services, telecom, electrical equipment, real estate and transportation emerging as the favoured sectors. More....
Others..
BUSINESS NEWS
COMPANIES SHOULD DEDUCT TDS FROM LOANLY DIRECTORS, RULED SUPREME COURT: THE Supreme Court has ruled the companies have statutory obligation to deduct tax at source (TDS) on interest payments for the loans taken in the name of its directors. More....
RAHUL & SHISHIR BAJAJ LOOK FOR OUT-OF-COURT SETTLEMENT FOR THEIR FOUR YEAR OLD FAMILY DISPUTE: THE Rahul Bajaj and Shishir Bajaj groups are exploring the possibility of an out-of-court settlement for their four-year-old family dispute including the fight over the directorships and control of Bajaj Sevashram and Jamnalal Sons. More....
NORTEL TAKES STAKE IN BANGALORE BASED TEJAS NETWORKS: NORTEL Networks is picking a minority stake in Bangalore-based optical network firm Tejas Networks. More....
DLF BUYS DCM'S DELHI LAND FOR RS 1,675 CRORE AND SEALS LARGEST PRIVATE SECTOR REALTY DEAL: REAL estate major DLF has announced the largest real estate deal in India: The acquisition of 38 acres of land from DCM Shriram Consolidated (DSCL) and the Lohia group for Rs 1,675 crore. More....
STANDARD CHARTERED PICKS 49% IN UTI SECURITIES FOR RS 147 CRORE: STANDARD Chartered has entered into an agreement to acquire 49% stake in UTI Securities from the Securities Trading Corporation of India (STCI) with an option of increasing its stake to 100% over the next three years. More....
GLOBAL PRIVATE EQUITY FIRMS INVEST RECORD $3.8B IN 8 MONTHS: GLOBAL private equity (PE) firms, including Blackstone and Carlyle Group, have made an investment of $3.8 billion in 2007 so far in the country, up 50% from the year ago period. More....
Others..
NEW DEVELOPMENTS AND JOINT VENTURES
BLACKSTONE BUYS GOKALDAS: Private Equity firm Blackstone has bought 50.1% in the country's biggest garment exporter Gokaldas Exports for $165 million (Rs 682 crore). More....
FIRSTSOURCE SOLUTIONS BUYS US BPO FOR $330 M: IN THE second-largest takeover of an overseas business process outsourcing (BPO) firm by an Indian company, Firstsource Solutions has announced the acquisition of US-based MedAssist for $330 million. More....
GENESIS COLOURS TO FORM LUXURY RETAIL JOINT VENTURE WITH SPORTS STATION INTERNATIONAL: GENESIS Colours, the marketer of Satya Paul brand, is forging a luxury retail joint venture with Sports Station International (SSIPL). More....
ASHOK LEYLAND, NISSAN PLAN JOINT VENTURES TO MAKE LIGHT COMMERCIAL VEHICLES: ASHOK Leyland, the maker of heavy vehicles has entered into an agreement with the Japanese automotive major Nissan Motors to jointly develop and market light commercial vehicle (LCV) for the domestic as well as export markets. More....
Others..
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