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: list of goods taxed at 4% :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: due date for vat payment :: ACCOUNTING STANDARD :: VAT RATES :: empanelment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: cpt
 
 
Latest Circulars »
 RBI-Investment under PIS in M/s Laurus Labs Limited by FIIs/FPIs upto 49 per cent and NRIs upto 24 per cent
 RBI-Issuance of 35 days Cash Management Bills under Market Stabilisation Scheme (MSS)
 RBI-Information from Unauthenticated Sources – Advisory to banks
 RBI-Aadhaar-based Authentication for Card Present Transactions
 RBI-External Commercial Borrowings (ECB)
 Issuance of 28 days Cash Management Bills under Market Stabilisation Scheme (MSS)
 Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 All You wanted to know from RBI about: Withdrawal of Legal Tender Status of ₹ 500 and ₹ 1000 Notes
 Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit
 Withdrawal of Legal Tender status of banknotes of ₹ 500 and ₹ 1000: Activity at Banks during November 10-27, 2016
 Reserve Bank of India Act, 1934 – Section 42(1A) Requirement for maintaining additional CRR

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 2016 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