New Delhi [India], September 14 (ANI): Bajaj Holdings and Investment has declared an interim dividend of Rs 110 per share for its stakeholders for the financial year 2022-23.

New Delhi [India], June 7 (ANI): The Enforcement Directorate (ED) has attached 210 immovable properties worth approximately Rs 110 crore in Maithri Plantation and Horticulture Pvt Ltd (MPHPL) ponzi scam case.

Mumbai Mar 31 PTI Central Goods and Services Tax CGST officials on Thursday said they have arrested one person for allegedly claiming Rs 1262 crore of fake input tax credit on bogus invoices The unnamed director from Dharamraj Metal Corporation was arrested on Thursday for availing and passing fake ITC of Rs 1262 crore on bogus invoices of Rs 70 crore according to an official tweet The arrested accused was remanded to judicial custody till April 13 by a local court the tweet stated The case comes a day after officials from the CGST Commissionerate Navi Mumbai busted a fake ITC racket of Rs 1984 crore by arresting a director of Fortune Global Trade The Vikhroli-based company dealing in trade of synthetic rubber had engaged in availing and utilization of fake GST Input Tax Credit ITC on the basis of bogus invoices of Rs 110 crore as per an official statement PTI AA MR

Chennai Mar 18 PTI The Madras High Court on Friday refused to discharge Twitter from the defamation case filed by film director Susi Ganesan against poet and filmmaker Leena Manimekalai various film personalities and other social media organisations Justice P Velmurugan rejected the plea while dismissing an application from Twitter Originally Susi Ganesan had moved the IX Metropolitan Magistrate Court in Saidapet with a defamation petition to punish Manimekalai and playback singer Chinmayi for their MeToo allegations against him in 2019 He had claimed that their accusations were baseless and aimed at tarnishing his name and reputation in the film industry Newsminute an online news media company Facebook Google Twitter and various such organisations were the other accused in the case They had allegedly publishedcarried the defamatory statements He had also moved the Supreme Court which in December last year directed the Saidapet Magistrate court to complete the trial within four months Meanwhile he had moved the High Court with an application seeking to restrain the defendants Manimekalai and others from making any such allegation against him He had also demanded a compensation of Rs 110 crore to be paid collectively by the defendants Justice Abdul Quddhose on January 20 had restrained the defendants from makingpublishing defamatory statements against Ganeshan The Principal Sessions Judge here on March 4 had rejected a plea from Manimekalai to transfer the defamation case from the Saidapet Magistrate court to some other court on the ground that the magistrate was biased towards her When the matter came up today in the High Court the counsel for Twitter told Justice Velmurugan that his client was only a social media organisation engaged in disseminating information and it should not be held responsible for the same which was rejected After directing the defendants to file their written arguments the judge adjourned the matter till April 13 PTI COR HDA HDA

Mumbai Feb 18 PTI The Maharashtra and Union governments have spent less than 50 per cent of funds under the National Rural Health Mission to treat COVID-19 patients functionaries of healthcare initiative Jan Aarogya Abhiyan said on Friday The JAA an informal group of healthcare activists made the statement based on data shared by the Maharashtra governments health department on its portal Out of Rs 1583 crore for NRHM as states share only 323 per cent funds have been spent in 2021-22 The Union government likewise spent only 413 per cent Less than two months are left in this fiscal The overall expenditure of the health department is just 467 per cent while the medical education department has spent 497 per cent so far the JAA said It said Maharashtra had the highest number of COVID-19 cases and deaths but the states health department had spent just Rs 110 crore or barely 6 per cent of the proposed spending in the current fiscal of Rs 1733 crore The health and medical education departments had together allocated Rs 2077 crore for supplies and materials including medicines and oxygen during this year But only Rs 180 crore or 86 per cent of the budgeted amount has been spent which is deeply worrisome at a time when healthcare needs are higher due to the pandemic it said PTI ND BNM BNM BNM

New Delhi Jan 27 PTI A consortium of lenders led by State Bank of India SBI has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India Tata Group which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year is expected to formally takeover the airline on Thursday Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airlines requirements All large lenders including Punjab National Bank Bank of Baroda and Union Bank of India are part of the consortium they added Talace Private Limited -- a subsidiary of the Tata Groups holding company Tata Sons -- on October 8 2021 won the bid to acquire debt-ridden Air India A unit of the holding company of the salt-to-software conglomerate had offered Rs 18000 crore as part of its winning bid -- Rs 15300 crore for Air Indias existing debt and Rs 2700 crore to be paid as cash to the government On October 11 2021 a Letter of Intent LoI was issued to the Tata Group confirming the governments willingness to sell its 100 per cent stake in the airline On October 25 the Centre signed the share purchase agreement for the deal The term loans to Talace will help in retiring the high cost borrowings of Air India the sources said The deal with the government does not include land and buildings As per the agreement Tata Group will retain all the employees of Air India at least for a year With the acquisition Tata Group will have access to a fleet of 117 wide-body and narrow-body aircraft and 24 narrow-body aircraft of Air India Express Besides it will get control of 4400 domestic and 1800 international landing and parking slots at domestic airports Tata Group had surpassed the Rs 15100 crore-offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier While this will be the Centres first privatisation since 2003-04 Air India will be the third airline brand in the Tatas stable as it holds a majority interest in AirAsia India and Vistara a joint venture with Singapore Airlines Ltd As of August 31 Air India had a total debt of Rs 61562 crore Around 75 per cent of this debt or Rs 46262 crore will be transferred to a special purpose vehicle AIAHL before handing over the loss-making airline to Tata Group Air India started suffering losses every year since its merger with Indian Airlines in 2007-08 A Turnaround Plan TAP and a Financial Restructuring Plan FRP were approved for Air India by the previous UPA regime in 2012 However the TAP did not work out as expected and Air India continued to reel under losses Over the last decade more than Rs 110 lakh crore has been infused by way of cash support and loan guarantees into Air India to keep it afloat PTI DP ANZ RAM

New Delhi Nov 22 PTI As many as 14 companies against whom retrospective tax demands were raised have approached the government to settle cases Revenue Secretary Tarun Bajaj saidThe government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets The rules under the law seek to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets and also refund the amount paid in these cases without any interestTalking to PTI Bajaj said of the 17 companies against whom retrospective tax demand was raised barring three or four entities all have given an undertaking to the government to resolve the casesAll of them have approached There were 17 cases out of which 34 had no trace We had also sent the order in email we never got a response The remaining 14 baring 1 odd who still has time to file the remaining has filed Cairn Earlyguard have come for settlement he saidWith regard to Vodafone Bajaj said the UK-telecom company has time till month end to file for settlement For some the change in tax laws was made through the I-T Act for some the change was made through the Finance Act The company for whom changes were made through Finance Act has time till end of the month to file for settlement he addedOn October 1 the Finance Ministry had notified rules which prescribed that companies will have to withdraw any pending litigation or proceeding before any forum against the levy of the retrospective tax and also give an assurance that they wont pursue any further claims in the future In addition the companies and any other interested party were required to furnish an indemnity bond committing not to seek damage from the Indian government or its affiliatesLater on October 13 the Ministry notified a fresh set of rules to facilitate settlement of the retrospective tax dispute with British telecom giant Vodafone Plc The Relaxation of Validation Section 119 of the Finance Act 2012 Rules 2021 prescribed the forms and conditions for the declaration to be filed by the company for settling its case Vodafone had 45 days to approach the government for a settlementThe case pertaining to Vodafone is different as taxes were sought from the company by validating an October 2010 order of the I-T department that sought Rs 11218 crore in taxes from the British firm over its 2007 acquisition of Hutch-Essar through a deal in the Cayman IslandsThe Supreme Court had in January 2012 quashed the tax demand but the same was sought to be revalidated through Section 119 in the Finance Act 2012 A penalty of Rs 7900 crore was also sought from VodafoneAsked how soon the disputes would be resolved Bajaj said Cairn is working on it now the ball is in their court As soon as they take the cases back we will give them the cheque In those cases where there is no money to be refunded settlement there would be faster The Taxation Laws Amendment Bill 2021 enacted in August scraps the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in IndiaThe 2012 legislation was used to levy a cumulative of Rs 110 lakh crore of tax on 17 entities including Vodafone but substantial punitive action was taken only in the case of CairnLast week PTI had reported that Cairn Energy PLC had earlier this month given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the worldThe government has now accepted this and issued Cairn a so-called Form-II committing to refund the tax collected to enforce the retrospective tax demand two sources with direct knowledge of the development saidFollowing the issuance of Form-II Cairn will now start withdrawing all cases in international courts Once this is complete the company will be issued a Rs 7900 crore refund PTI JD ANU ANU

New Delhi Nov 18 PTI Moving quickly towards ending a retrospective tax dispute with a firm that gave India its largest oilfield the government has accepted Cairn Energy PLCs undertakings which would allow for the refund of taxes sources said Meeting the requirements of the new legislation that scraps levy of retrospective taxation the company had earlier this month given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world The government has now accepted this and issued Cairn a so-called Form-II committing to refund the tax collected to enforce the retrospective tax demand two sources with direct knowledge of the development said Following the issuance of Form-II Cairn will now start withdrawing all cases in international courts Once this is complete the company will be issued a Rs 7900 crore refund they said adding the withdrawal of cases may take up to three-four weeks While a Cairn spokesperson did not immediately respond to requests for comments a senior finance ministry official confirmed the government accepting the companys undertakings Seeking to repair Indias damaged reputation as an investment destination the government in August enacted new legislation to drop Rs 11 lakh crore in outstanding claims against multinationals such as telecom group Vodafone pharmaceuticals company Sanofi and brewer SABMiller now owned by AB InBev and Cairn About Rs 8100 crore collected from companies under the scrapped tax provision are to be refunded if the firms agreed to drop outstanding litigation including claims for interest and penalties Of this Rs 7900 crore is due only to Cairn Subsequent to this the government last month notified rules that when adhered to will lead to the Centre withdrawing tax demands raised using the 2012 retrospective tax law and any tax collected in the enforcement of such demand being paid back For this companies were required to indemnify the Indian government against future claims and withdraw any pending legal proceedings Cairn on November 3 had stated that it has entered into undertakings with the Government of India in order to participate in the scheme introduced by recent Indian legislation the Taxation Laws Amendment Bill 2021 allowing the refund of taxes previously collected from Cairn in India Cairns undertaking furnished in Form No1 under the rule 11UE1 of the amended law have been accepted by the Principal Commissioner for Income Tax the sources said The August legislation cancelled a 2012 policy that gave the tax department power to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India The 2012 legislation was used to levy a cumulative of Rs 110 lakh crore of tax on 17 entities including UK telecom giant Vodafone but nearly 98 per cent of the Rs 8100 crore recovered in enforcing such a demand was only from Cairn India issued Cairn with tax claims six years ago and in December 2020 the company won an international arbitration against such demands The international arbitration tribunal in December overturned a levy of Rs 10247 crore in taxes on a 2006 reorganisation of Cairns India prior to its listing and asked the Indian government to return the value of shares seized and sold dividend confiscated and tax refund withheld This totalled USD 12 billion plus interest and penalty The government initially refused to honour the award forcing Cairn to identify USD 70 billion of Indian assets from the US to Singapore to enforce the ruling including taking flag carrier Air India Ltd to a US court in May A French court in July paved the way for Cairn to seize real estate belonging to the Indian government in Paris All these litigations will now be dropped sources added PTI ANZ ANZ ABM ABM

Islamabad [Pakistan], November 7 (ANI): Pakistan Peoples Party (PPP) Vice President Sherry Rehman on Saturday questioned Prime Minister Imran Khan's relief package and said that she rejects the latest increase in the prices of petroleum products, local media reported.

Mumbai (Maharashtra) [India], November 5 (ANI): Shiv Sena Member of Parliament Arvind Sawant on Friday slammed the central government and various Bharatiya Janata Party ruled state governments over reducing taxes on petrol and diesel prices, terming it as an election strategy and pointed out that people of the country were aware of such 'jumlas'.