The lack of mutually acceptable arbitrators has delayed the resolution of the two-and-a-half-year-old dispute between Reliance Industries Ltd and the government of India over the recovery of $2.376 billion worth of investment in the KG-D6 gas block.
A bench headed by Justice H L Dattu, however, allowed the petitioner, former Additional Solicitor General Bishwajit Bhattacharyya, to file fresh petition with all the relevant documents stating what action Centre has so far been taken on the issue.
Recently, the government had appointed former Chief Justice of India R C Lahoti as arbitrator in the tax dispute case.
The company moved the income-tax appellate tribunal and its appeal is pending there.
Sanket Pandya, one of the two engineers left stranded in Iran since December 2013, has urged the Indian government to facilitate their early and safe return after the duo were illegally 'confined' following the seizure of their passports when their Goa-based employer got embroiled in a dispute with a company there.
Vodafone's long-pending tax dispute with the government might be heading for a resolution, with the finance ministry considering changing the Income-Tax Act's retrospective amendment and taxing indirect transfer of assets prospectively from 2012, the year the law was clarified.
Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
Finance Minister P Chidambaram has asked UK-based Vodafone Group, which is facing a tax liability of over Rs 11,200 crore in India, to give its view on the long-pending matter in writing, a senior official said.
Harshala Chandorkar, Senior Vice President -- Consumer Relations, Communication & CIC Compliance Credit Information Bureau (India) Limited will answer questions related to your home loans and CIBIL Credit Score on Monday, August 5 between 3 pm and 4 pm.
.jpg)
Faced with over Rs 11,200 crore (Rs 112 billion) tax liability, Vodafone India chief Analjit Singh on Thursday met Finance Minister P Chidambaram for the second time this week and expressed the hope that there will be clarity soon on the proposal to settle the dispute through conciliation.
The government's decision to opt for a non-binding attempt at conciliation and under Indian law in its tax dispute with telecom multinational Vodafone is understandable, note experts.
The Board of Control for Cricket in India rejected the Sahara Group's claim that it failed to expedite the arbitration process to reduce franchisee fee, saying it acted as per rules and is not responsible for the situation.
The complaint was filed by non-US employees Gopi Vedachalam and Kangana Beri, who were sent from India to the US to work on projects.
The proposals, to be based on the recommendations of the Shome panel, are likely to be introduced in the Finance Bill to be presented by Finance Minister P Chidambaram in the Budget for 2012-13.
HDFC Bank was penalised R15 lakh in April 2011 for its role in the so-called derivatives scam. By no means is this big money for the bank but such regulatory actions tarnish the image of a bank. In the financial world, they call it reputation risk. HDFC Bank couldn't escape this despite its hatred for risks. What went wrong? Journalist Tamal Bandyopadhyay lifts the veil off the incident, and the bank's response, in this fascinating insight from his forthcoming book
Toughens stand days before cooling-off period ends
The lease term of the Taj Palace Hotel, owned by the Indian Hotels Company, will expire on April 1, 2013, and it must settle a dispute with the Delhi Development Authority over the quantum of licence fee for a smooth renewal.
Telenor 'yet again surprised', says will challenge order in a higher court
"Companies ideally like to resolve issues across the table through discussions but this requires decisions to be taken by the government and that does not happen often," says a person who is closely associated with one of the high-profile arbitration cases with the UPA government that has now landed in the courts.
United States-based Kashmiri separatist leader Syed Ghulam Nabi Fai, accused of being an Inter-Services Intelligence agent and trying to influence American policy on Kashmir has pleaded guilty on federal charges of spying for the Pakistani agency.
Tata Steel's arm here said it had got $130 million as final settlement from the consortium of global steel buyers which had prematurely terminated, in May 2009, a 10-year purchase contract.
Ruias to challenge Vodafone's put option, continue reverse-listing plan.
The freight earning's accounts for two-third of the total earnings of IR.
'India has moved on in other ways, but the common man in the streets still has a lot of links attached to religion. And till such a time there is a separation of religion from politics we will not be able to move on,' feels former Union home secretary Madhav Godbole.
All eyes are on Attorney General Goolam Essaji Vahanvati who has been asked by the Supreme Court to give his opinion on whether the plea for deferment by one of the litigants in the Ayodhya case should be accepted or not
Justice Dharam Veer Sharma of the Lucknow bench of the Allahabad high court on Monday passed a dissenting order against the order passed by two other judges -- S U Khan and Sudhir Agarwal -- against postponing the Ayodhya case verdict, on September 17.Sharma claimed that the two judges passed the order without consulting him and there is still room for exploring the option of an out-of-court settlement.
The Lucknow bench of the Allahabad high court on Friday has refused to defer its verdict on the title suit of the disputed site at Ayodhya.
The move, if accepted, will help resolve nearly one-third of the 1,200 cases on payments pending in various courts in the country.
Indian Railways, which manages the world's third largest rail network under single management, is the backbone of country moving people/ cargo from one place to other with-in the country.
Draft Press Notes on FDI regulatory framework fail to address the gap between the domestic and foreign regulatory regimes.
In a major relief to over 3,000 companies all over India seeking arbitration in tax cases with the Settlement Commission, the Bombay High Court has termed as "unconstitutional" the government's decision to suggest a cut off date of March 31, 2008, for all cases filed before June 1,2007.
A meeting of the top officials of Sahara India and Jet Airways to resolve the dispute over the buyout of Sahara Airlines by the latter has not resulted in any settlement.
Jet had bought Sahara Airlines from the Sahara group in April 2007 for Rs 1,450 crore after an arbitration award. It paid Rs 900 crore and agreed to pay the balance in four instalments. In March 2008, the income-tax department demanded tax dues of Rs 107 crore from Sahara India Airlines. Jet decided this should come from Sahara as it pertained to the period before the acquisition.
West Ham United and Sheffield United have reached an out-of-court settlement regarding a long running dispute over Argentine striker Carlos Tevez, the clubs said on Monday.
Former super cop and Magsaysay award winner Dr Kiran Bedi is all set to hit the small screen with her reality show Aap ki kachehri on Star Plus. The show replaces Kyunki Saas Bhi Kabhi Bahu Thi.
The dispute between Vodafone and the Ruia-owned Essar Group, its 33 per cent partners in Vodafone-Essar, over ownership of BPL Mobile deepened this week after the UK-based telecom major alleged that Essar had altered the share structure of the Mumbai service provider in violation of a 2006 agreement
This comes after both parties failed to arrive at an agreement on an appropriate valuation of the stake, a company executive said. Sterlite bought 51 per cent stake in Balco in March 2001 for Rs 552 crore (Rs 5.52 billion) when the National Democratic Alliance (NDA) government decided to divest the government stake in the public sector company.
Reliance Industries Ltd (RIL) has invited Reliance Communications for "mutual conciliation prior to arbitration" on the dispute over the latter's bid to sew up a merger deal with MTN.
Engineering giant Larsen and Toubro and Aditya Birla group firm Grasim Industries are set to settle their long-standing dispute over the sale of cross-holdings out of court. Both the companies are believed to be in consultation with Chennai-based chartered accountant S Gurumurthy to act as arbitrator.
The intellectual property rights battle between Britannia Industries and French dairy and beverages giant, Groupe Danone, is heading for an early breakthrough.
© 2024 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Feedback - About us - Terms of use - Grievances