Wednesday 8 February 2012

UPDATES...

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

1 comment:

  1. UPDATES:

    1. 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"

    ReplyDelete