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: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARDS :: empanelment :: form 3cd :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: cpt :: VAT RATES
 
 
« General »
 Retailers need to file single GST return every month
 Aadhaar is must for income tax returns if you have one; Here's how you can file it online
 Will it be a tax haven above the law?
 Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
 Finally a goods and services tax. But what lies ahead?
 Tax May Rise On Outbound M&As, Indian Mncs’ Investments
 Filing income tax return? Do remember to claim benefits on your reimbursements
 Banks will have a hard slog ahead to get GST-ready
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956
 Introduce indemnity clauses with suppliers on tax compliance: Expert
 While filing tax in India, NRIs do not have to report overseas assets

IRDA FOR RAISING FDI CAP AHEAD OF LISTING
June, 11th 2010

New rules that stipulate a minimum 25 percent public shareholding in listed firms cant be implemented by insurance companies unless the government allows an increase in overseas ownership limits, the industry regulator has said.

The government has been reluctant to push through its own proposal to raise the foreign direct investment (FDI) limit to 49 percent from 26 percent in insurance companies fearing a backlash from trade unions and political parties, who oppose the move.

The FDI limit in life insurance has to be raised first to go with the recent minimum public shareholding norms, Insurance Regulatory and Development Authority (Irda) chairman J. Hari Narayan said. We are examining the situation.

In most insurance joint ventures, the foreign companies hold the maximum 26 percent stake, with the remaining 74 percent being held by the domestic promoter. Under company law, a 26 percent stake gives an entity the power to block any special resolution and foreign insurers will lose board power if their stake goes below the current level.

With foreign partners unwilling to dilute their stakes below 26 percent, since most have entered the business in anticipation of the limit being bumped up, the local partner will be forced to reduce its stake to 49 percent to meet the new norms. That could create its own complications since under Indian company law, a 51 percent stake ensures ownership.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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