INDIA BUSINESS WORLD - November 16th - To - December 31st - 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
LEGAL SECTOR HIT HARD BY PE, M&A SLOWDOWN : WEAKENING inbound investments and dwindling PE deals have hit the Indian legal services sector.........More....
SUPREME COURT AND HIGH COURT JUDGES GET 300% PAY HIKE : JUDGES in the Supreme Court and high courts will now draw salaries almost three times higher than their present levels.....More....
FDI IN 600-1,000CR SLAB MAY NOT REQUIRE CABINET STAMP : THE government plans to do away with its mandatory Cabinet Committee on Economic Affairs’ (CCEA) approval for foreign investment proposals involving amounts above Rs 600 crore.........More....
IRON ORE PRICES SLASHED 40% : NATIONAL Mineral Development Corporation (NMDC), the country’s largest iron ore producer, is considering to slash prices of the mineral by 40% due to slowdown in demand by steel manufacturers.........More....
NBFCS CUT LENDING ON CASH CRUNCH: RELIANCE CAPITAL, INDIABULLS AMONG NON-BANKING COMPANIES REDUCING DISBURSEMENTS AS LIQUIDITY DRIES : THE liquidity crunch faced by non-banking finance companies (NBFCs) has impacted disbursements by these financial sector intermediaries........More....
SUPREME COURT PULLS UP I-T DEPT FOR LAX PROCEDURES IN KHODAY CASE : The Supreme Court has pulled up the income-tax department for initiating wrong proceedings against Khoday Distilleries over transfer of more than 24 lakh shares to its seven investment companies...........More....
SERVICE TAX REFUND RULES MADE EASIER : EXPORTERS can now get their service tax refunds much faster. The Central Board of Excise and Customs (CBEC) has further relaxed the procedures for refund of tax paid on specified services used for export of goods and directed its field officials to clear refund claims within 30 days.....More....
SBI CUTS PLR BY .75%, DEPOSIT RATES BY 1% : INTEREST rates across the system are set to dip sharply from January with the country’s largest lender, State Bank of India (SBI), reducing its prime lending rate (PLR) by 75 basis points and deposit rates by 100 basis points.....More....
NO BAIL UNDER AMENDED UNLAWFUL ACTIVITIES (PREVENTION) ACT, SAYS A BILL INTRODUCED IN THE LOK SABHA : No bail will be granted to a person arrested under the Unlawful Activities (Prevention) Amendment Act.....More....
FINANCE MINISTRY’S STATEMENT ON INFLATION : Following is the text of the statement issued by the Finance Ministry on inflation.....More....
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