Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
The scheme offers waiver of interest, penalty, and prosecution for settling tax disputes.
There are no guesses on how many times the group of ministers will meet before any clarity emerges on the $9.6-billion deal.
'Appellants may not lap up the scheme because, first, to do so would amount to admission of guilt, and second, they may have smelled victory before higher appellate forums,' notes S Murlidharan.
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
Summary of sports events and persons who made news on Sunday.
Former New Zealand skipper Brendon McCullum has insisted that he can never forgive his ex-team-mate Chris Cairns after the latter effectively lobbied to destroy his credibility over match-fixing allegations. Cairns had been linked to match-fixing following statements by Stephen Fleming and McCullum. However, he was cleared of any wrongdoing in a court of law and by the ICC's anti-corruption unit. McCullum, who had told the jury that Cairns had approached him three times in total over fixing a match, insisted that he felt as if his character had come under-fire during the prejury trial.
The 92nd Academy Awards nominations have been announced at the Samuel Goldwyn Theatre in Beverly Hills, Los Angeles.
'BPCL has always been spoken about as a multinational company though it is State-run... this sets our work culture also apart.'
All in all, Cairn India shareholders are getting a 9.1 per cent premium based on closing prices of July 22
Rediff reader Sanjay Yadav, 36 from Pune shares his message for Indian tourists.
A plea of the UK-based Vedanta group company to export its share of crude oil from Barmer oil field in Rajasthan was on Tuesday rejected by the Delhi high court on the ground that domestic crude cannot be exported till India attained "self sufficiency".
It is the second firm to have received retrospective tax notice this year after Vodafone Group.
Summary of sports events and persons who made news on Friday.
UK oil explorer Cairn Energy is facing a tax demand of Rs 10,247 crore and Vodafone over acquisition of 67% stake in the mobile business owned by Hutchison Whampoa in 2007
Vodafone is facing tax liability over its $11 billion acquisition of a 67 per cent stake in the mobile-phone business owned by Hutchison Whampoa in 2007.
Cairn said it had initiated arbitration.
New Zealand captain Brendon McCullum is 'very comfortable' with the evidence he gave against former all-rounder Chris Cairns, who was found not guilty of perjury and perverting the course of justice in a trial last month.
Former New Zealand cricket captain Chris Cairns was cleared by a London court on Monday of perjury and perverting the course of justice relating to a libel case three years ago.
Former New Zealand captain Chris Cairns must wait until Monday at the earliest to learn the result of his perjury trial after jurors failed to reach a verdict following a second day of deliberations.
Jurors in the London perjury trial of former New Zealand cricket captain Chris Cairns retired to consider their verdicts on Tuesday.
China has not limited the 'battle' to the diplomatic field alone; the People's Liberation Army has become aggressive on the ground too. The recent 'fights' in Northern Sikkim and Ladakh are part of the pattern, asserts Claude Arpi.
Former Australia skipper Ricky Ponting has revealed before the London court that he was with New Zealand batsman Brendan McCullum when the latter received a phone call from Chris Cairns regarding business proposal linked to match-fixing.
New Zealand skipper Brendon McCullum has revealed before a court in London that he felt shocked when his idol, Chris Cairns, approached him regarding fixing a match.
Finance Minister Arun Jaitley, in his Budget speech on Monday, announced a new dispute resolution mechanism for such companies who are in confrontation with the taxman's action.
Zero-debt Cairn India has $2.85 billion cash reserve.
New Zealand Cricket have promised to support Brendon McCullum after former Test all-rounder Chris Cairns was acquitted of perjury in London despite evidence given against him by the Black Caps captain.
Rajneesh Gupta lists some amazing coincidences in cricket -- a feature guaranteed to amuse you in these anxious times.
Firm to continue to press ahead with arbitration challenging new law on the tax, will seek $1 bn in damages
The shareholders will also get one redeemable preference share in Vedanta Ltd
Vedanta may become a majority stakeholder in Cairn India.
Vedanta to file notice of claim in Cairn India tax case.
Cairn Energy of UK is seeking compensation from the Government of India.
Brokerages put sell notice on Vedanta shares over the company's move to buy Volcan Investments' stake in Anglo American via subsidiary Cairn India Holdings, reports Aditi Divekar.
Cairn tax demand has not reduced investors' enthusiasm: Jaitley
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Cairn India said it has always been fully compliant with all Indian income tax laws.
Cairn joins a slew of multinational firms including Vodafone Group Plc and Royal Dutch Shell Plc that have been slapped with retrospective tax demands by Indian authorities.
Cairn files notice against India in $1.6 billion tax dispute.
Chatfield had hoped to score a century before he retired but his highest was "50 something" in club cricket. He was dismissed for a golden duck in his final innings, although he said he did not want that innings reported.
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