Top officials of the Central Bureau of Investigation are in Mauritius as part of the investigation into the multi-crore Satyam scam, which its founder B Ramalinga Raju confessed to in January.
Besides doubts relating to round tripping of investments through Mauritius, the proposal was earlier rejected on the ground that there were no details about the offshore entity.
The Central Bureau of Investigation on Friday told the Supreme Court that 15 accused, including Chidambaram, his son Karti and some companies have been chargesheeted in the case.
FinMin had, recently, notified changes in FDI rules that made prior approval of the government mandatory for foreign investments from countries that share a land border with India. Hong Kong was ranked 14th on the list of countries with FDI flows to India, contributing $4.2 billion between April 2000 and December 2019, the data from DPIIT shows. India received FDI worth $2.34 billion from China in the same period.
The regulator last week reached out to custodians for beneficial ownership information of investors coming from China, Hong Kong, and 11 other countries.
As its factories resumed operations after over two-month of grim battle against coronavirus, China is busy tapping into the vast business opportunities of export of key medical goods, specially ventilators and personal protection equipment (PPE), across the world, including India, where both private and government bodies are placing orders for the import of these products.
Any form of entanglement with India or the US on the strategic plane will be anathema to Sri Lanka's Rajapaksa rulers, observes Ambassador M K Bhadrakumar.
Refuting reports of a Mauritian identity card being recovered from one of the slain terrorists who attacked Mumbai, Mauritius has said the only document found bearing the country's stamp was of a bank official, who was killed in the terror siege.
Having made no headway to amend a 26-year-old double taxation avoidance agreement with Mauritius, the finance ministry has hardened its stance against broadening India's economic engagement with the island nation.
Sectors which attracted maximum foreign inflows during April-June 2019-20 include services (USD 2.8 billion), computer software and hardware (USD 2.24 billion), telecommunications (USD 4.22 billion), and trading (USD 1.13 billion), the commerce and industry ministry data showed.
'An explanation perhaps lies in the culture of revisions that has grown deep roots in the government data collection system,' notes A K Bhattacharya.
The letter rogatory, a judicial request for information from an Indian court to a court abroad, was sent recently to the United Kingdom, Singapore, Mauritius, Bermuda and Switzerland, they said.
This property has all the hallmarks of being owned and occupied by Vijay Mallya. A fleet of supercars making their way down the drive, hordes of people descending to party all night long and a constant delivery of goods and services.
At a time when migrant workers from Bihar are under violent attacks in several states in their own country, a Mauritian firm has sent a proposal to the Bihar government seeking services of 500 ITI-trained hands.Filcon Cavra Limited, a company based in Mauritius, has sought the services of 500 youth with technical training from our state, deputy chief minister Sushil Kumar Modi, who holds the Labour portfolio said.
Mauritius has rejected compensation of Rs 500 crore to plug loopholes in double taxation avoidance treaty. Mauritius accounts for nearly half of all foreign direct investment (FDI) inflows to India. With the tightening of tax laws, India attempted to amend the treaty. Due to the treaty, India was suffering over Rs 4,000 crore loss annually for some years in terms of revenue foregone on account of the capital gains exemption for investors routing their funds through Mauritius.
Saina Nehwal and P V Sindhu are on a collision course at next week's World Championships in Basel, Switzerland, as they have been placed in the same half after the world governing body re-conducted the women's singles draw.
The initiative was made public by Bihar Roots Foundation president Goorooduth Chuttoo, who is accompanying Mauritius Prime Minister Navinchandra Ramgoolam, who is on a three-day visit to Bihar.
In order to tap the hospitality industry in Mauritius, major Indian hotel chains are aggressively setting up hotels in the country.
In an emotional speech at a public reception organised by villagers and the state government, the visiting prime minister, speaking in chaste Bhojpuri, said it was like a second homecoming for him and his family on reaching this remote village from where his grandfather Mohit Ramgoolam had gone to Mauritius without any money in his pocket.
Prime Minister of Mauritius Navinchandra Ramgoolam arrived in Patna on Monday on a three-day tour to Bihar.
NCLAT chairman Justice S J Mukhopadhaya dismissed the pleas against Ambani and officials after observing that consent terms agreed upon between RCom and minority shareholders for payment of dues cannot be a ground for initiation of contempt proceedings.
The Budget has relaxed a few safe harbour rules that aim to make it easier for fund managers overseeing offshore India-focused funds to relocate to the country.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
The aid to Nepal increased substantially from Rs 650 crore in 2018-19 to Rs 1,050 crore in 2019-20.
'The announcement has come too late. This should have been done years ago.'
The Padma Vibhushan for this year has been awarded to a total of seven prominent personalities, while 16 have been given the Padma Bhushan, 118 have been given the Padma Shri on the 71st Republic Day this year, they said.
The case is related to the alleged irregularities in granting clearance by the Foreign Investment Promotion Board to INX Media, once owned by Peter and Indrani Mukherjea, for receiving overseas funds to the tune of Rs 305 crore.
The Adanis', which already has won the bids to run six Airport Authority-built non-metro airports in Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram and Mangalore, bid to enter the country's second busiest airport by buying out Bid Services Division Mauritius from MIAL was stalled after GVK chose to exercise its first right of refusal, and matched the Rs 1,248-crore offer that the Adanis made to the Bidvest in March.
Over the last few days, as the fortunes of Thomas Cook Plc took a wrong turn, the Indian entity scrambled to distance itself from its erstwhile parent. Experts have said that the travel firm must not change its brand name.
Independent Mobile Infrastructure Mauritius Ltd, a telecom infrastructure provider, has sought the Foreign Investment Promotion Board's approval for investing up to Rs 3,000 crore ($674 million) in India.
Short of saying that it will not renegotiate the Double Taxation Awardence Treaty with India, Mauritius said on Tuesday there was a need for a balanced approach as the agreement has benefited both the countries since it was framed in 1983.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
India invited leaders of the BIMSTEC countries as well as Kyrgyz President Jeenbekov, the current chair of the Shanghai Cooperation Organisation, and Mauritius PM Jugnauth for the Modi's swearing-in.
President of the Kyrgyz Republic, who is the current Chair of the SCO, and the PM of Mauritius, who was the chief guest at this year's Pravasi Bhartiya Divas, have also been invited, the MEA said.
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