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: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: due date for vat payment :: form 3cd :: cpt :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES
« General »
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces
 CAG lens on entities avoiding tax with ‘farm income’ claim

PMO trashes CPM jibe on RIL mediation
July, 16th 2008

The CPM on Tuesday took direct aim at Prime Minister Manmohan Singh, saying he was setting a dangerous precedent by mediating between the feuding Ambani brothers.

The Prime Ministers office (PMO) should not become the conciliation office for warring corporates, however desperate the ruling party may be to retain power, the CPM politburo said in a statement.

In response, the PMO denied that the PM was involved in any mediation effort. People of India know Manmohan Singh better than to believe that he would get involved in corporate affairs, said media advisor to the PM Sanjaya Baru.

On the meeting with Mr Mukesh Ambani, he said the prime minister meets corporate leaders all the time to discuss national economic issues as any leader of a modern economy would.

The CPMs attack came in the backdrop of attempts by friendly quarters to take the corporate rivalry to the level of national politics. The issues raised by the two sides have been figuring in discussions at the top level ever since the Samajwadi Party entered into a political deal with the Congress. The Prime Ministers Office has been claiming the authorship for the alliance with the Samajwadi Party.

The CPM used the meeting that Mr Mukesh Ambani had with the prime minister and senior officials of the government to drive home its point that corporate houses are openly in the fray to lobby their interests in the run-up to the confidence vote.

In the meetings, Mr Ambani had placed on record his opposition to the demands that are being raised by Samajwadi Party general secretary Amar Singh.

The prime minister and the senior Ambani discussed specific issues such as the imposition of windfall profit tax raised by Amar Singh in his letters to the prime minister and Congress president Sonia Gandhi. In his letters, the SP leader had alleged that oil minister Murli Deora was favouring a well-known private operator.

Incidentally, Amar Singh repeated this charge at a press conference here on Tuesday. Mr Singh said the government should immediately levy a windfall profit tax on both upstream and downstream operators.

Against a projected under recovery of over Rs 225,000 crore, a levy of windfall tax could instantly generate over Rs 100,000 crore, he said.

Amar Singh has also been asking the government to weigh in for Anil Ambani in the MTN deal. The feud between the two brothers escalated last month after Anil stepped in with a $60-billion offer for South Africas MTN.

The Mukesh Ambani group, which handed over RCOM to the younger brother on a truce worked out by their mother, has been opposing the deal on the ground that under the family settlement arrived at in 2005, if there is any sale of majority stake in any company, his group has the right of first refusal. But ADAG claims that there was no such clause in the family settlement.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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