Himank's Feed
Apr 24, 2015

India to rule on MAT claims for tax treaty investors within a month

MUMBAI, April 24 (Reuters) – India’s tax department will
rule within a month on alternative tax claims made against
foreign investment funds that are covered by tax treaties, the
finance ministry said, as the government moves to defuse its
latest tax row with investors.

Foreign investors in India previously paid 15 percent on
short-term listed equity gains, 5 percent on gains from bonds,
and nothing on long-term gains. However, from late 2014 many
firms received notices demanding payment of a so-called minimum
alternative tax (MAT) on past income.

Apr 22, 2015

India seeks to calm investor jitters, stands firm on back taxes

MUMBAI/NEW DELHI, April 22 (Reuters) – Senior Indian finance
ministry officials sought to calm a tax row on Wednesday,
promising foreign investors a favourable environment, but
stopped short of scrapping unpopular plans to claim
retrospective payments.

Outside investors in India have previously paid 15 percent
on short-term listed equity gains, 5 percent on gains from
bonds, and nothing on long-term gains, but from late last year
many firms received notices requiring them to pay the so-called
Minimum Alternative Tax (MAT) on past income.

Apr 13, 2015

SEBI under fire over IPO bottleneck

MUMBAI (Reuters) – India’s market regulator, under pressure to tighten scrutiny, is taking as long as a year to approve initial public offerings, prompting criticism from firms already grappling with unpredictable demand and a lack of alternative funding sources.

India’s stock market has soared, touching record highs last month. It was Asia’s second-best performer last year, thanks largely to more than $16 billion of foreign investment.

Apr 13, 2015

Indian regulator under fire over IPO bottleneck

MUMBAI, April 14 (Reuters) – India’s market regulator, under
pressure to tighten scrutiny, is taking as long as a year to
approve initial public offerings, prompting criticism from firms
already grappling with unpredictable demand and a lack of
alternative funding sources.

India’s stock market has soared, touching record highs last
month. It was Asia’s second-best performer last year, thanks
largely to more than $16 billion of foreign investment.

Mar 22, 2015

SEBI eases rules for banks to convert bad loans to equity

MUMBAI (Reuters) – Indian banks will be able to convert distressed loans owed by listed companies into equity stakes, the Securities and Exchange Board of India (SEBI) said on Sunday, in a move that will allow lenders to reduce bad loans weighing on their balance sheets.

India’s bad loans have risen sharply as its economic growth has been weak for two years.

Mar 22, 2015

Indian regulator eases rules for banks to convert bad loans to equity

MUMBAI, March 22 (Reuters) – Indian banks will be able to
convert distressed loans owed by listed companies into equity
stakes, the capital market regulator said on Sunday, in a move
that will allow lenders to reduce bad loans weighing on their
balance sheets.

India’s bad loans have risen sharply as its economic growth
has been weak for two years.

Mar 20, 2015

SEBI warns of penalties as board quota deadline nears

MUMBAI (Reuters) – Corporate India’s “shameful” failure to appoint enough women directors ahead of a deadline set by regulators for April 1 will result in “very serious” consequences for firms, the head of the Securities and Exchange Board of India (SEBI) said on Friday.

SEBI last year imposed a quota of one female director on the board of every listed firm. It extended the deadline once last year, but despite last-minute appointments, hundreds of firms, including several large state-owned companies, still fall short of the requirement.

Mar 20, 2015

India regulator warns of penalties as board quota deadline nears

MUMBAI, March 20 (Reuters) – Corporate India’s “shameful”
failure to appoint enough women directors ahead of a deadline
set by regulators for April 1 will result in “very serious”
consequences for firms, the head of the country’s market
regulator said on Friday.

The Securities and Exchange Board of India last year imposed
a quota of one female director on the board of every listed
firm. It extended the deadline once last year, but despite
last-minute appointments, hundreds of firms, including several
large state-owned companies, still fall short of the
requirement.

Mar 18, 2015

India to strip RBI of power to regulate government bonds

NEW DELHI/MUMBAI (Reuters) – India plans to strip its central bank of authority to regulate government bonds but leave it in charge of other money market instruments, setting the stage for a confrontation with Reserve Bank of India Governor Raghuram Rajan.

The move by Arun Jaitley’s finance ministry is part of an overhaul intended to expand bond markets by attracting retail investors and improve the transmission of monetary policy, three government sources told Reuters.

Mar 18, 2015

India to strip central bank of power to regulate government bonds

NEW DELHI/MUMBAI, March 18 (Reuters) – India plans to strip
its central bank of authority to regulate government bonds but
leave it in charge of other money market instruments, setting
the stage for a confrontation with Reserve Bank of India
Governor Raghuram Rajan.

The move by Arun Jaitley’s finance ministry is part of an
overhaul intended to expand bond markets by attracting retail
investors and improve the transmission of monetary policy, three
government sources told Reuters.