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INDIA BUSINESS WORLD SEPTEMBER (16th - 30th) 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
BEWARE OF ORAL TESTIMONIES IN RAPE CASES SUPREME COURT: In a significant ruling, the Supreme Court has said though the oral testimony of the victim and even absence of medical report is sufficient to convict the accused, there are instances of false frame-up which should also be taken into account while deciding rape cases.... More.......
SUPREME COURT NULLIFIES HC ORDER QUASHING FIR IN DOWRY CASE: THE Supreme Court in a significant ruling has said that the inherent powers granted to the high courts under section 482 of the Criminal Procedure Code should be exercised sparingly and in the rarest of rare cases.... More.......
COURT CAN REVIEW GOVT CONTRACTS TO ENSURE HEALTHY COMPETITION: SUPREME COURT: THE Supreme Court has said the judiciary can review a contract awarded by the government to ensure healthy competition.... More.......
BJP ANNOUNCES 33% RESERVATION FOR WOMEN: The BJP took a big leap towards women's empowerment when its national executive green lighted the proposal to reserve 33% for them at all levels of the organisational hierarchy.... More.......
ELI LILLY FILES PATENT INFRINGEMENT SUIT AGAINST SUN PHARMACEUTICAL INDUSTRIES: US drug giant Eli Lilly & Co has filed a patent infringement suit against Sun Pharmaceutical Industries to prevent the latter from selling a generic version of its hyperactivity-disorder drug Strattera in the US.... More.......
BOMBAY HIGH COURT ISSUES NOTICE TO I-T DEPT IN VODAFONE CASE: The Bombay High Court has issued notice to the income-tax department following a writ petition by Vodafone Essar Ltd challenging the tax department's move to levy capital gains tax following the Vodafone-Hutch deal.... More.......
STATE CAN'T FORCE SUGAR MILLS TO SUPPLY MOLASSES: SC: The Supreme Court has ruled that the government cannot force sugar mills to supply the molasses if they do not have excess stocks.... More.......
SHOWING PORN TO CHILDREN TO BE CRIMINAL OFFENCE UNDER IT ACT: EXHIBITING sexually-explicit footage before a child would be considered a criminal offence under the new IT Act. An all-party committee has recommended tough measures against those transmitting such footage to children.... More.......
SUPREME COURT RESTRAINS DELHI FIRM FROM USING DABUR AMLA DESIGN: Dabur has secured an order from the apex court restraining a Delhi based firm from using hair oil bottle design and caps which allegedly are a fraudulent imitation of Dabur Amla Hair Oil bottle.... More.......
GOVERNMENT SLAPS ANTI-DUMPING DUTY ON TAIWAN FIRM: India has imposed antidumping duty on imports of Potassium Carbonate, a critical raw material used in manufacture of television picture tubes, GLS lamps and eye glasses, from Taiwan Pulp and Paper Corporation.... More.......
SUPREME COURT STAYS AP'S 4% MUSLIM QUOTA: In a setback for the AP government, the Supreme Court restrained it from making further admissions into the educational and professional colleges under the law providing for 4% reservations to Muslims.... More.......
SUPREME COURT STAYS CONTEMPT VERDICT OF DELHI MIDDAY JOURNALISTS: THE Supreme Court has stayed Delhi high court's sentencing of Delhi MidDay journalists to four-months' imprisonment for contempt of court.... More.......
DON'T BELIEVE IN DYING DECLARATION BLINDLY: SUPREME COURT: In a significant ruling, the Supreme Court has said although a dying declaration can be the sole basis of conviction, in cases where suspicion surrounds the authenticity of the declaration, it needed to be corroborated by other evidence.... More.......
Others..
BUSINESS NEWS
PE DEALS HIT RECORD $10.8 B IN 8 MONTHS: For the first time, private equity (PE) investments in India have crossed the $10-billion mark in a calendar year.... More.......
FOREIGN DEBT SWELLS 22.6% TO $155B IN 2006-07: The country's total foreign debt rose 22.6% to $155 billion in 2006-07 as companies borrowed overseas due to cheaper credit. Commercial borrowings contributed half of this increase.... More.......
ECONOMY NOTCHES 9.3% GROWTH IN QUARTER 1: The government has said that the country's economy grew by 9.3% in the first quarter of the fiscal, while overall industrial growth was 9.6% during the first four months of the financial year.... More.......
FOREIGN OWNERSHIP RISES TO 22% IN INDIA INC: Ownership patterns in India Inc have changed over the last five years, with foreign ownership rising to 22% in June 2007 vs 12% in March 2001 while domestic ownership has decreased. .... More.......
ESSAR BAGS RS 186-CR BHARAT OMAN REFINERIES CONTRACT FOR GAS PIPELINE: Essar Constructions (India), a subsidiary of Essar Projects, has secured a Rs 186-crore contract from Bharat Oman Refineries (BORL), a joint venture of Bharat Petroleum Corporation and Oman Oil Corporation.... More.......
AIRTEL GETS DIRECT TO HOME LICENCE; TO INVEST RS 150 CR: Bharti Airtel has said that it has got licence to start direct-to-home services in the country and announced an investment of Rs 150 crore in the first phase to launch nation-wide operations.... More.......
INDIABULLS PROMOTERS INVEST RS 2,322 CR IN REALTY ARM: The Founders of Indiabulls-Sameer Gehlaut, Rajiv Rattan and Saurabh Mittal-are making the second-biggest investment by a non-corporate promoter in India Inc's history to fund the group's budding retail plans.... More.......
Others..
NEW DEVELOPMENTS AND JOINT VENTURES
RELIANCE INDUSTRIES ACQUIRES MALAYSIAN POLYESTER FIRM: Mukesh Ambani promoted Reliance Industries (RIL) has agreed to buy textile and polyester manufacturing assets of the Malaysia-based Hualon Corporation.... More.......
HERO GROUP ACQUIRES SCOTTISH CALL CENTRE: Hero Group acquired Scotland's largest call centre company Telecom Services Centre (TSC) for 40 million pounds.... More.......
USHA MARTIN BUYS BRITISH BPO FIRM: The Jhawars of the $750-million Usha Martin Group have acquired the UK-based BPO Converso Contact Centres for an undisclosed sum.... More.......
DOMESTIC PHARMA MAJOR LUPIN BUYS BARODA-BASED RUBAMIN LABORATORIES LIMITED (RLL): Domestic pharma major Lupin has announced that it had acquired Baroda-based Rubamin Laboratories Limited (RLL) for an undisclosed amount, in an attempt to grow its Contract Research And Manufacturing Services (CRAMS) business.... More.......
CHINA'S ELECTRONIC MANUFACTURER TCL SETS UP JV WITH PUNE-BASED DS KULKARNI (DSK) GROUP TO MAKE IT PRODUCTS: TCL, China's third largest electronic manufacturer, has entered into a technical joint venture with Pune-based real estate and automobile firm DS Kulkarni (DSK) Group to manufacture and market information technology and digital products in the Indian market.... More.......
Others..
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