India has eased overseas borrowing rules to allow easier access to cheap dollar funds to housing finance companies such as HDFC, small industry financier SIDBI and permitted non-resident entities to provide rating enhancement facility to Indian borrower. More

The Finance Ministry has said that promoters have to bring in equity upfront and provide personal guarantees before a loan of a company is restructured by banks. More

HSBC has sold its entire 5% stake in Aluva, Kerala-based private sector lender Federal Bank for a little over Rs.341 crore. More

GVK Power and Infrastructure Ltd. has got environmental clearance from the Australian government for the $10 billion (Rs.55, 280 crore) Alpha coal project and railway line in Queensland. More

Mumbai-based healthcare IT firm Palash Healthcare Systems has formed a joint venture with Amman, Jordan-based Health Information Systems. More

The Government of the Republic of India signed a revised Double Taxation Avoidance Agreement (DTAA) with the Government of the Republic of Indonesia for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 27th July, 2012. More

The Government of India and Government of Principality of Monaco have signed a Tax Information Exchange Agreement (TIEA). More

The Reserve Bank of India (RBI) has entered into a Memorandum of Understanding (MoU) with Financial Service Authority (FSA) of UK. More

A time-limit has been fixed for the fast-track courts to punish the persons found guilty of sexual harassment of minor girls and boys. More

The Cabinet had cleared the Prohibition of Employment as Manual Scavengers and their Rehabilitation Bill, 2012. More

In the case of the Registrar, Rajiv Gandhi University of health sciences, Bangalore vs. G. Hemlatha and Others, the question of law involved was whether by applying the principle of rounding-off the eligibility criteria prescribed for the qualifying examination for admission to the PG course. More

In the matter of The Oriental Insurance Company Ltd. Vs. Siby George & Ors., the Supreme Court has held that an employer becomes liable to pay compensation as soon as the personal injury. More

In the case of Lavesh vs. State (NCT of Delhi), the Supreme Court has ruled that no court should grant anticipatory bail to a person who had been declared an absconder either during the investigation or during the trial. More

The NCDRC has held that damages awarded cannot be equated with income liable to tax deduction at source (TDS). More

In the matter of Dayal Singh & Ors. Vs. State of Uttaranchal, the Supreme Court has held that the Investigating Officer, as well as the doctor who are dealing with the investigation of a criminal case, are obliged to act in accordance with the police manual and the known canons of medical practice, respectively. They are both obliged to be diligent, truthful and fair in their approach and investigation. More

Vide its Circular no. CIR/CFD/DIL/10/2012 dated August 28, 2012, SEBI has prescribed a framework for two-way frangibility of IDRs so as to improve the attractiveness of IDRs as an instrument thereby ensuring long term sustainability of IDRs. More

Vide its Circular No. 164/15/2012-ST, the Central Board of Excise and Customs has issued a clarification in respect of levy of service tax on certain vocational education/training/ skill development courses (VEC) offered by the Government (Central Government or State Government) or local authority themselves or by an entity independently established by the Government under the law, as a society or any other similar body. More

Vide its Circular No. 5/2012, CBDT has released a circular on inadmissibility of expenses incurred in providing freebees to Medical Practitioner by pharmaceutical and allied health sector Industry. More

Vide its Circular No. 6/2012, the Central Board of Direct Taxes has given relaxation from compulsory e-filing of return of income for assessment year 2012-13 for representative assessees of non-residents and in the case of private discretionary trusts regarding. More

Vide its notification no. S.O.2005(E) dated 30th August 2012, Central Board of Direct Taxes has passed the Income Tax (10th Amendment) Rules, 2012, thereby introducing the provisions related to Advance Pricing Agreement Scheme by insertion of a new rule in the Act. More