ECONOMY & NATION


Unless the governments, both at the Centre and State level, take these issues seriously and implement a uniform approach and policy over coal mines, we will continue to be in a mess   Only a couple of weeks ago, the Supreme Court declared that all the 218 coal blocks allotted were...

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Moneylife Digital Team 05 September 2014
Diageo controlled United Spirits made provisions of Rs1,012 crore due to doubtful loans given to UB group companies, leading to the company reporting a full year net loss of Rs4,488.8 crore    The board of United Spirits Ltd (USL), now controlled by Diageo, has ordered a probe into...

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Moneylife Digital Team 05 September 2014
A note for the Cabinet's consideration will be drafted by April 2015 and the final merger is to be completed by July 2015   Mahanagar Telephone Nigam Ltd (MTNL) shares rallied on Friday to close 2.5% higher at Rs34.65, following the news about Department of Telecom (DoT) fixing 31...

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Coal Express must be given priority in the use of railway tracks. First, let us get the goods moving; pooling of price can be settled later!    Coal inventory in most of the thermal power plants are running critically low with stocks that may not even last for a week. Some plants are...

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Moneylife Digital Team 03 September 2014
According to the ratings agency, while stronger growth will help counterbalance credit challenges for India, fiscal deficit, inflation and infrastructure metrics are limiting further upward momentum in the sovereign rating   Rating agency Moody's on Wednesday said high fiscal deficit...

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During FY14, Indo-Japanese bilateral trade stood at $16.29 billion or barely 1% of trade of Japan or about 2.13% of Indian trade. The new developments, which are now taking place, would push these figures to a higher plane   After his spiritual visit to the heritage city and the...

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Moneylife Digital Team 02 September 2014
A CBI inquiry has revealed links between IRCTC and Saradha Group during the time when Mamata Banerjee was the Railway Minister   West Bengal Chief Minister Mamata Banerjee's name has now allegedly got dragged into the multi-crore Saradha chit fund scam, says a report by Zee News....

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PS Deodhar 02 September 2014
Multi-national companies are looking for a country with a large domestic market with low cost labour, to produce products outside China. However, to become the “factory for the world”, India needs to take some crucial steps   What the new government is inheriting? Government...

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Moneylife Digital Team 02 September 2014
The Supreme Court refused to entertain a petition filed by Kingfisher Airlines against being declared as wilful defaulter, saying it has become infructuous as the GRC of United Bank of India has already passed an order   The Supreme Court on Tuesday refused to hear a special leave...

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Moneylife Digital Team 01 September 2014
The AG made it clear that the government was open to re-auctioning all coal blocks   According to a Reuters report, The Attorney General (AG) proposed to the Supreme Court on Monday that about 40 of the 218 coal mines it declared illegal should not be taken back from the companies...

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Moneylife Digital Team 01 September 2014
The Grievance Redressal Committee (GRC) of the bank has declared directors Ravi Nedungadi, Anil Kumar Ganguly and Subash Gupte as wilful defaulters   State-run United Bank of India became the first lender to declare debt-ridden Kingfisher Airlines and its promoter Vijay Mallya as...

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In PM Modi's first foreign visit outside the sub-continent, his reaching out to Japan and his personal relations with Japanese PM Abe may pay rich dividends to the bilateral relationship   Extending a gesture reserved only for very special guests, Prime Minister Shinzo Abe of Japan...

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Moneylife Digital Team 28 August 2014
The CBDT's high-level committee will scrutinise all cases arising out of the retrospective tax amendment within of 60 days of receiving them from the Assessing Officer   The Central Board of Direct Taxes (CBDT) on Thursday set up a high-level committee to scrutinise all Income Tax...

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Moneylife Digital Team 28 August 2014
CBI is raiding the premises of former Assam minister and legislator Hemant B Sharma   The Central Bureau of Investigation (CBI) is searching seven locations in Kolkata, 12 in Guwahati, two in Dhubri, Assam and one in Mumbai in relation to the multi-crore Saradha scam, an official...

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Moneylife Digital Team 28 August 2014
Kingfisher Airlines has gone to Court in Kolkata and Delhi to protect its reputation from being declared a wilful defaulter by its lender banks   The Delhi High Court today allowed Kingfisher Airlines legal representation before a committee of PNB that will decide whether Kingfisher...

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Moneylife Digital Team 28 August 2014
According to Nomura, vehicle sales in August would witness strong volumes led by improved demand as well as the low base effect   Indian automobile market is expected to show strong volume growth across most segments during August 2014, led by improved demand as well as the low base...

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Girish Borkar 28 August 2014
The CBDT order has created a lot of confusion among taxpayers and tax professionals by not specifying the due date for filing the income tax returns   The Central Board of Direct Taxes (CBDT) has vide its above order extended the due date for e-filing of Tax Audit Report to 30...

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Moneylife Digital Team 27 August 2014
Shareholders have chosen “not” to  re-appoint MAM Ramaswamy, the majority stakeholder, as director of Chettinad Cement, one of the popular companies in South India   Shareholders of Chettinad Cement Corp has rejected the proposal to re-appoint MAM Ramaswamy, noted industrialist and...

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Moneylife Digital Team 26 August 2014
PNB has said if there is no reply to its notice within seven days, then it would declare Kingfisher Airlines and its guarantors United Breweries and Vijay Mallya as wilful defaulter   Vijay Mallya-owned Kingfisher Airlines on Tuesday moved the Delhi High Court against Punjab National...

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As the first step, the government may direct 41 companies that obtained 194 coal blocks 'illegally,  to return blocks where no mining activity has started   The Supreme Court has declared that all coal blocks allocated from 1993 are illegal, as these were done "in illegal manner and...

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