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: Central Excise rule to resale the machines to a new company :: TDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: form 3cd :: due date for vat payment :: VAT RATES :: cpt :: VAT Audit
 
 
« Latest Circulars »
  RBI announces auction of a 15-days Government of India Cash Management Bill
 Auction of Government of India Dated Securities April 24, 2017
 RBI- Compliance with Ghosh Committee Recommendations
 RBI announces auction of a 15-days Government of India Cash Management Bill
  Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 - Amended
 Minutes of the Monetary Policy Committee Meeting April 5-6, 2017
 Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 - Amended
 RBI-Professor Willem H. Buiter, Global Chief Economist, Citigroup, delivers the Sixteenth C.D. Deshmukh Memorial Lecture titled ‘The Good and the Bad Fiscal Theory of the Price Level’
 RBI launches Quarterly Order Books, Inventories and Capacity Utilisation Survey: January – March 2017 (Round 37)
 RBI-Exim Bank's Government of India supported Line of Credit of USD 31.29 million to the Government of the Republic of Nicaragua
 RBI-Grant of ‘Certificate of Registration’ – For carrying on the business of credit information – Transunion CIBIL Limited

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