One of the biggest critics of the demonetisation step announced by Prime Minister Narendra Modi was West Bengal Chief Minister Mamata Banerjee, and in the face of another major step to be taken regarding the economy of the nation, she has once again spoken out in protest.
As the deadline approaches for the implementation of the Goods and Services Tax, the nation gears up to prepare itself for the landmark legislation which will be officially in place at the stroke of midnight on June 30, exactly...
'Munna Michael' is a film everyone seems to be waiting for. Right from the first poster release of the film to the two songs, Tiger Shroff's film has kept the audience hooked for more. On Tuesday, the third track from the film was released on social media by Tiger Shroff and debutante leading lady Nidhhi Agerwal which is the first romantic song coming from the movie.
With the new track 'Pyar Ho', the leading pair is set to show their sizzling and fiery chemistry which has grabbed everyone's attention. The...
A special CBI court on Wednesday allowed Sheena Bora murder accused Indrani Mukerjea to officially file a complaint against Byculla Prison officials after she was allegedly beaten and threatened with sexual assault following prison riots.
The death of a 45-year-old woman prisoner Manju Govind Shette triggered protests in the Byculla Prison, and Indrani was among the 200 inmates of the women's prison that were booked for rioting.
Indrani appeared in court on Wednesday after she submitting an application...
The general expectations from a Salman Khan movie are pretty stagnant and basic. The movie will have some mindblowing action, chartbuster masala songs, Salman's bare-chested body, few classic dialogues, a beautiful damsel in distress and massive box office collections. The audience and the critics don't expect more than this. 'Tubelight' was exactly none of it and maybe this didn't go too well with anyone because of some solid preconceived notions about a typical 'Salman Khan Film'.
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Loan growth in the country is expected to pick up to 15 per cent in 2017-18, from 9.1 per cent in the previous fiscal, as demonetisation shock fades, says a report.According to a Bank of America Merrill Lynch report, loan growth in the country is now at a historic low and is expected to bottom out."Our BofAML liquidity model forecasts that loan growth will pick up to 15 per cent from 9.1 per cent in 2016-17 as the demonetisation shock works itself out," BofAML said in a note.
The report further...
In its attempt to become power surplus and increase the share of renewable energy, the Bihar government has planned to set up a nuclear plant of around 3,000 MW capacity at Rajauli in Nawada district, a senior minister said today.
"We have embarked on the growth path. We want to be self-reliant in the power sector. Apart from the other sources of energy, we have also planned to set up nearly 3,000 MW of nuclear capacity in Bihar," Industries Minister Jai Kumar Singh said.
Singh was speaking...
Panama Papers: 500 Indians Named Including Top Celebs In Global Tax Evasion Scheme
NEWS WORLD INDIA | 0
April 4 , 2016 , 09:48 IST
[caption id="attachment_170466" align="aligncenter" width="700"] Russian President Vladimir Putin(File Photo)[/caption]
A massive leak of 11.5 million tax documents has exposed the secret offshore dealings of aides to Russian president Vladimir Putin, world leaders and celebrities including Barcelona forward Lionel Messi.
An investigation into the documents by more than 100 media groups, described as one of the largest such probes in history, revealed the hidden offshore dealings in the assets of around 140 political figures -- including 12 current or former heads of states.
According to report in The Indian Express, which was part of a coalition of media outlets investigating the documents, says its eight-month investigation of over 36,000 files has revealed around 500 Indian names on the firm's list of offshore companies, foundations and trusts. The newspaper says it has checked the authenticity of over 300 addresses.
Indians were not allowed to float overseas entities before 2003. In 2004, for the first time individuals were allowed to remit funds up to a limit. In most of the cases, companies were set up long before the rules were changed in 2013, when individuals were allowed to set up subsidiaries or invest in joint ventures under the Overseas Direct Investment window.
The list includes bollywood actors like Amitabh Bachchan, Aishwarya Rai Bachchan, DLF's K P Singh along with nine other members of his family, Gautam Adani's elder brother Vinod Adani to Indiabulls promoter Sameer Gehlaut and Apollo Tyres promoter.
The report also names two politicians -- Shishir Bajoria from West Bengal and Anurag Kejrival, the former chief of the Delhi Loksatta Party.
The Panama Papers leak also reveals cases involving the government as well.
These include cricket franchise deals and, in several cases, linkages to those who have previously been under CBI or Income Tax scrutiny.
The vast stash of records was obtained from an anonymous source by German daily Sueddeutsche Zeitung and shared with media worldwide by the International Consortium of
Investigative Journalists (ICIJ).
The investigation yielded 11.5 million documents from around 214,000 offshore entities, the ICIJ said. The leaked documents came from Mossack Fonseca, a Panama-based law firm with offices in more than 35 countries.
Though most of the alleged dealings are said by the ICIJ to be legal they are likely to have a serious political impact on many of those named.
Among the main claims of the ICIJ investigations:
-- Close associates of Putin, who is not himself named in the documents, "secretly shuffled as much as USD2 billion through banks and shadow companies," the ICIJ said.
-- The files identified offshore companies linked to the family of Chinese President Xi Jinping, who has led a tough anti-corruption campaign in his country, the ICIJ said.
-- In Iceland, the files allegedly show Prime Minister Sigmundur David Gunnlaugsson and his wife secretly owned an offshore firm holding millions of dollars in Icelandic bank bonds during the country's financial crisis.
-- The law firm of a member of FIFA's ethics committee, Juan Pedro Damiani, had business ties with three men indicted in the FIFA scandal: former FIFA vice president Eugenio Figueredo, as well as Hugo Jinkis and his son Mariano who were accused of paying bribes to win soccer broadcast rights in Latin America.
-- Argentine football great Messi and his father owned a Panama company, Mega Star Enterprises Inc., a shell company that had previously not come up in Spanish investigations into the father and son's tax affairs.
Also in the world of football, Francetvinfo named UEFA president Michel Platini as the beneficiary of a Panama-based tax company, adding however that no illegal activity was
Platini's communications service said in a statement sent to AFP that "all of his accounts and assets are known to the tax authorities in Switzerland, where he has been a tax resident since 2007".
The revelation of the "Panama Papers" detailing the off-shore structures of many wealthy
clients is a "crime" and an "attack" on Panama, the law firm at the heart of the scandal has said.
"This is a crime, a felony," Ramon Fonseca, one of the founders of the Panamanian firm Mossack Fonseca, said yesterday.
"This is an attack on Panama because certain countries don't like it that we are so competitive in attracting companies," he told AFP.