Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: ACCOUNTING STANDARDS :: VAT Audit :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: form 3cd :: articles on VAT and GST in India :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: TDS
 
 
« Latest Circulars »
 Sovereign Gold Bond Scheme 2016 -17 - Series IV - Issue Price
 Master Direction – Money Transfer Service Scheme (MTSS)
 Payment Systems - Next Orbit (Shri R. Gandhi, Deputy Governor - February 20, 2017 - at the launch of Bharat QR Code at Hotel Trident, Mumbai)
 Financing MSMEs: Banks & FinTechs – Competition, Collaboration or Competitive Collaboration? (Shri S. S. Mundra, Deputy Governor – February 20, 2017 – at the NAMCABS Seminar organized by College of Agricultural Banking in Mumbai)
 Issuance of Rupee denominated bonds overseas – Multilateral and Regional Financial Institutions as Investors
 RBI-Formation of twenty one new districts in the State of Telangana - Assignment of Lead Bank Responsibility
 RBI imposes penalty on Janata Urban Co-operative Bank Ltd., Wai, District Satara
 Monitoring of Foreign Investment under PIS in Indian Companies- Incorporation in Ban List–M/s HDFC Bank Ltd.
 Reserve Bank of India seeks Comments on Draft Circular on Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
 Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) - Withdrawal of Fortnightly return
 RBI-Foreign Investments in India

Clarification regarding a proposal for foreign investment considered by the FIPB
May, 09th 2012
                                                                                         `15'
                            PRESS INFORMATION BUREAU
                              GOVERNMENT OF INDIA
                                       ****

                                     CLARIFICATION

                                                                 New Delhi Jyaistha 18, 1934
                                                                              May 08, 2012

       The Central Government's attention has been drawn to a report in one newspaper
containing allegations against a proposal for foreign investment that was considered by the
Foreign Investment Promotion Board (FIPB).

       The report is factually incorrect and totally baseless.

        Government had earlier issued a press release on April 28, 2012 regarding the foreign
investment made by M/s. Global Communication Services Holdings Ltd, Mauritius to acquire
73.99 per cent equity in M/s. Aircel Ltd. The contents of that statement are correct and are
reiterated.

       Subsequently another application was received for downstream investment by M/s
Global Communications Services Holdings Ltd. The relevant dates are:

1.9.2006              Application for Investment

3.10.2006             Meeting of FIPB: FIPB recommends proposal.

6.10.2006             Minutes of FIPB drawn up and moved by Deputy Secretary.

12.10.2006    Finance Minister approves the minutes.

20.10.2006    Formal letter of approval issued.

       It will be clear from the above that the proposal was processed in the normal course
and approval was granted in the normal course without any delay.

        It is unfortunate that baseless allegations are continued to be made without verifying
the facts.
                                     *****

       DSM/Hb



 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions