|
INDIA BUSINESS WORLD - OCTOBER 21st - NOVEMBER 15th - 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
RBI CALLS FOR BAN ON AUTOMATIC FDI IN REAL ESTATE: Worried about the rising flow of foreign funds into the real estate sector, the Reserve Bank of India (RBI) has asked the government to allow FDI into the sector only after clearance from the Foreign Investment Promotion Board (FIPB).... More....
PLEA AGAINST SETHU PANEL DISMISSED: The Supreme Court has refused to entertain a plea of Janata Party president Subramanian Swamy seeking scrapping of the expert committee on Sethumamudram Shipping Canal project alleging it had biased leanings.... More....
JUDGES USE POWER TO ISSUE NON BAILABLE WARRANTS FOR SADISTIC PLEASURE: APEX COURT: The Supreme Court has stayed a Delhi High Court's direction asking a sessions judge to undergo a refresher course in criminal law for not following the correct judicial procedure in a bail case.... More....
CBI SEEKS SUPREME COURT NOD FOR PROCEEDING AGAINST MULAYAM: The Central Bureau of Investigation has approached the Supreme Court seeking its permission to proceed further in the disproportionate assets case against former UP chief minister Mulayam Singh Yadav and his family members.... More....
BURDEN TO CLAIM EXCISE DUTY ON MANUFACTURER, RULES SUPREME COURT: The Supreme Court has ruled that the burden to claim excise duty deductions lay with the manufacturer and not the department.... More....
TVS MOTOR SLAPS RS 250-CRORE DEFAMATION SUIT ON BAJAJ: TVS Motor has filed a defamation suit against Bajaj Auto in the Bombay High Court and a patent suit in the Madras High Court.... More....
SUPREME COURT REFERS SPIRIT FEE DISPUTE TO LARGER BENCH: A larger constitution bench will decide whether state governments had the authority to levy fee on sale of specially denatured spirit to licencees.... More....
SUPREME COURT NOTIFIES DELHI GOVT, MCD IN SEALING CASE: The Supreme Court has sought explanation from the Delhi government and civic agencies on how they intended to provide infrastructure in the 1,400 unauthorised colonies proposed to be regularised by the Centre.... More....
GOVT HAS POWERS TO CREATE, ABOLISH POSTS, SAYS SUPREME COURT: In a judgment that could help government trim flab, the Supreme Court upheld the executive's right to decide on the size of the work force.... More....
HARSHAD'S WIDOW SEEKS STAY ON RIL STAKE SALE: Jyoti Mehta, widow of late Big Bull Harshad Mehta, has filed a petition before the special court trying the 1992 securities scam cases seeking a stay on the sale of over 24 lakh shares of Reliance Industries belonging to the Harshad Mehta group.... More....
Others..
BUSINESS NEWS
BOMBAY HIGH COURT ASKS RIL, RNRL TO RENEGOTIATE PACT: The Bombay High Court has asked Reliance Industries (RIL) and Reli-ance Natural Resources (RNRL) to renegotiate the gas supply pact be-tween the two, saying an earlier agreement of January 2006 violated the Ambani family settlement.... More....
SUPREME COURT OKAYS POST- M&A REGISTRATION FEE BY SEBI: The Supreme Court has ruled that the Securities & Exchange Board of India (Sebi) is empowered to levy fresh registration fee on the companies which go for mergers and amalgamations to increase the reserves component of their net worth.... More....
VODAFONE I-T CASE PUT OFF TILL DEC 11: The Bombay High Court has made a critical observation on the ongoing debate over whether income-tax authorities are right in demanding capital gains tax on the recently concluded $10-billion sale of Hutch Essar to telecom major Vodafone.... More....
RANBAXY, ASTELLAS SETTLE PATENT ROW: RANBAXY Laboratories has reached an out-ofcourt settlement with Japanese company Astellas and Boehringer Ingelheim to sell Flomax, a drug used in the treatment of benign enlargement of prostate, in the US. Boehringer Ingelheim has the exclusive marketing rights for the drug in the US.... More....
LN MITTAL SIGNS MOU WITH HPCL FOR $6-BILLION REFINERY AT VISHAKHAPATNAM: The LN Mittal group has signed a memorandum of understanding (MoU) with HPCL, French oil major Total, Gail and Oil India for jointly developing a $6-billion refinery-cumpetrochemical complex in Vishakhapatnam.... More....
TCS BAGS $1.2 BN MSO CONTRACT FROM NIELSEN: In the biggest ever outsourcing deal won by an Indian firm, software leader Tata Consultancy Services (TCS) said it has secured a $1.2 bn global contract spread over 10 years from Dutch media and market information provider The Nielsen Company.... More....
UNITECH BUYS VIZAG TRACT FOR RS 3,328 CRORE: Real estate major Unitech is learnt to have closed the country's largest single land deal by buying a 1,750-acre plot in Vishakhapatnam from the Andhra Pradesh Infrastructure & Industrial Corporation (APIIC) for Rs 3,328 crore.... More....
L&T BAGS CHHATRAPATI SHIVAJI AIRPORT MODERNISATION CONTRACT: Engineering and construction firm Larsen & Toubro has said it has bagged a contract for modernisation of Chhatrapati Shivaji international airport from Mumbai International Airport (MIAL) .... More....
Others..
NEW DEVELOPMENTS AND JOINT VENTURES
COGNIZANT ACQUIRES MARKETRX FOR $135 MN: Cognizant Technology Solutions, an IT and BPO services company, said it will pay $135 mn in cash to acquire New Jersey-based marketRx, a provider of analytics and related software services to life sciences companies.... More....
WARBURG PINCUS PICKS UP 11.2% IN HAVELLS INDIA: Private Equity firm Warburg Pincus is picking up an 11.2% stake in electrical and power distribution company, Havells India, for $110 million.... More....
ASHOK LEYLAND IN $500M TIEUP WITH NISSAN FOR 3 JVS: By sewing up a binding master co-operation agreement with Nissan Motor, Hinduja Group flagship Ashok Leyland has formalised its entry into the light commercial vehicle (LCV) segment.... More....
COIR BOARD TIES UP WITH INDIAN OIL CORPORATION: The Coir Board is joining hands with Indian Oil Corporation (IOC) for promoting and marketing coir products through the latter's outlets.... More....
Others..
|
