SUPREME ORDERS
The Supreme Court has in recent months
delivered rulings that can have very big
implications for the corporate sector
2G Spectrum Scandal
The Case: Allocation of 2G spectrum by former
telecom minister A Raja Companies Involved:
Unitech Wireless, Loop Telecom, Videocon
Telecommunications, Idea Cellular, Tata
Teleservices etc Verdict: Scrapped 122 2G
licences issued in 2008 When: February 2,
2012 Implication: Big impact on all
stakeholders, including consumers, govt,
companies and foreign investors
Vodafone Tax Case
The Case: Tax dispute between telecom
company Vodafone International Holdings
and Indian tax authorities Verdict: Revoked
Bombay High Court Order that said Vodafone
must pay 11,000 crore in taxes When: January
20, 2012 Companies Involved: Vodafone
Implication: Boost for cross-border mergers
and acquisitions as verdict lifts uncertainty of
tax liabilities
The Ambani Gas Fight
The Case: Pricing of natural gas from the
Krishna Godavari basin, one of India’s biggest
fields, in the Bay of Bengal Companies
Involved: Reliance Natural Resource Limited
and Reliance Industries Date: May 7, 2011
Verdict: RIL’s Mukesh Ambani won the case
against brother, RNRL’s Anil Ambani. Court
ruled they must rework a family deal over KG
basin and gave government control over
setting gas prices Implication: Far-reaching
effects on energy firms & energy policy as a
whole
Mining Scandal
The Case: Illegal iron ore mining in
Karnataka’s Bellary Companies Involved: Jindal
Steel, BMM Ispat, MSPL and about 100 other
mining companies Verdict: Suspension of
iron-ore mining and transportation in Bellary
districts When: July 30, 2011 Implication: Hit
nearly a fourth of iron ore production. Probe
on for a year and shadow on investments in
sectors such as steel and power
Noida Land Allotment
The Case: Allotment of land in Noida to
developers Companies Involved: Amrapali,
Mahagun, Supertech, Gulshan Homes etc
Verdict: Upheld an Allahabad High Court
judgement cancelling land allotment in
Shahberi village in Noida Date: July 6, 2011
Implication: Uncertainty for nearly 6,500
apartment owners in seven residential
projects in Noida Extension. Investments
estimated at 1,000 crore in jeopardy
The Supreme Court has in recent months
delivered rulings that can have very big
implications for the corporate sector
2G Spectrum Scandal
The Case: Allocation of 2G spectrum by former
telecom minister A Raja Companies Involved:
Unitech Wireless, Loop Telecom, Videocon
Telecommunications, Idea Cellular, Tata
Teleservices etc Verdict: Scrapped 122 2G
licences issued in 2008 When: February 2,
2012 Implication: Big impact on all
stakeholders, including consumers, govt,
companies and foreign investors
Vodafone Tax Case
The Case: Tax dispute between telecom
company Vodafone International Holdings
and Indian tax authorities Verdict: Revoked
Bombay High Court Order that said Vodafone
must pay 11,000 crore in taxes When: January
20, 2012 Companies Involved: Vodafone
Implication: Boost for cross-border mergers
and acquisitions as verdict lifts uncertainty of
tax liabilities
The Ambani Gas Fight
The Case: Pricing of natural gas from the
Krishna Godavari basin, one of India’s biggest
fields, in the Bay of Bengal Companies
Involved: Reliance Natural Resource Limited
and Reliance Industries Date: May 7, 2011
Verdict: RIL’s Mukesh Ambani won the case
against brother, RNRL’s Anil Ambani. Court
ruled they must rework a family deal over KG
basin and gave government control over
setting gas prices Implication: Far-reaching
effects on energy firms & energy policy as a
whole
Mining Scandal
The Case: Illegal iron ore mining in
Karnataka’s Bellary Companies Involved: Jindal
Steel, BMM Ispat, MSPL and about 100 other
mining companies Verdict: Suspension of
iron-ore mining and transportation in Bellary
districts When: July 30, 2011 Implication: Hit
nearly a fourth of iron ore production. Probe
on for a year and shadow on investments in
sectors such as steel and power
Noida Land Allotment
The Case: Allotment of land in Noida to
developers Companies Involved: Amrapali,
Mahagun, Supertech, Gulshan Homes etc
Verdict: Upheld an Allahabad High Court
judgement cancelling land allotment in
Shahberi village in Noida Date: July 6, 2011
Implication: Uncertainty for nearly 6,500
apartment owners in seven residential
projects in Noida Extension. Investments
estimated at 1,000 crore in jeopardy
UPDATES:
ReplyDelete1. As per the Income-Tax department data, the direct tax mop-up until January has grown by a mere 9.28% to Rs.3.46 lakh crore, well below 19% growth required to take the collection for the full fiscal to the budgeted level of Rs.5.32 lakh crorefor 2011-12.
2. Check your unique code number for the purpose of Bank Branch Auditor pannel at "http://www.meficai.org/know_ ucn.html"