Government is weighing a proposal that might make the investors of VCFs (Venture Capital Funds) to shell out money for paying requisite taxes. Presently, the payment is done by funds in some of the sectors. If the proposal takes final shape, this would be reversal of 2007 budget policy, which stated that VCFs from all [...]
ICAI (Institute of Chartered Accountants of India) announced that requires a 6-month time to investigate the role played by PwC (Pricewaterhouse Coopers) in Satyam’s failure. As informed by ICAI’s President, Uttam Prakash Agarwal, only after the process is completed that it can be known whether the auditors are guilty of the scam or not. Till [...]
Reliance Infrastructure Limited, which is a part of Anil Dhirubhai Ambani Group, has today announced the second phase of equity shares buy-back programme amounting a sum of Rs 700 crore from the shareholders. In this second round of buy-back, the company will purchase the shares through open market operations for a maximum price of Rs [...]
Indian Railway Minister Lalu Prasad Yadav today presented the Interim Railway Budget, and has added another fare cut chapter to its 5 year old successful regime, by reducing the fares in express, mail and AC trains by 2 percent, while keeping the freight rates unchanged. Lalu said that the Indian Railways would start another 43 [...]
High risk associated with large-sized firms like Wipro and Cognizant has caused Credit Suisse to go for smaller firms for getting its Retail and Private Banking work done. The newly roped in companies are the likes of Headstrong. Headstrong belongs to Financial Services Industry and recently acquired Lyndian Data Services, which in turn is a [...]
Going by the statistics, the holdings of FIIs in Financial Sector have increased from 27.89 percent to 29.6 percent during the present quarter. However, on the whole, the share reported a fall of 1.42%, to 15.5%. Among the areas to see a significant decline in FII holdings were Industrial, energy and Information Technology. The reason [...]
The recent efforts by government to give liquidity a thrust and the present attractive valuations have placed India at the top-most position in the list of sough-after destinations for asset allocation. The discovery came from one of the reports by Macquarie, which is a global research firm. It stated that the trade-off between risk and [...]
CPs (Condition Precedents), which state the conditions that need to be satisfied before successfully closing the Real Estate deals are creating hurdles for PEs (Private Equity Firms). These might include timeline guarantees and obtaining permission in a particular timeframe. PEs are trying their level best to draw their hands out of partially completed deals. For [...]
The Securities and Exchange Board of India (SEBI) has finally brought a bright smile on the faces of Satyam bidders who were eagerly waiting for the market regulator to relax the takeover norms. SEBI said on Friday that it will ease the provisions given under Chapter III of the Act for companies approaching it and [...]
Improvement in supplies of dollar has led to an increase of $2.9 billion in Foreign Exchange Reserves during the week ended on 6 February’09. The WSS (Weekly Statistical Supplement) released by RBI (Reserve Bank of India) showed that forex reserves that included special drawing rights with IMF and gold amounted to $251.53 billion, i.e. a [...]