The Odisha government has recommended to the Union ministry of commerce & industry to extend formal approval for Tata Steel's multi-product Special Economic Zone (SEZ) at Gopalpur for one year."The state government has been pleased to recommend the proposal of Tata Steel for extension of formal approval for another one year from June 18 this year to June 17, 2014, in respect of multi-product SEZ at Gopalpur. You are therefore, requested to kindly place the matter before the Board of Approvals (BoA) on SEZs for consideration and approval," S C Naik, additional secretary (industries), Odisha wrote to director-SEZ under Union commerce & industry ministry. Tata Steel is the anchor tenant for the industrial park being developed at Gopalpur on an area of 2,952 acres. Establishment of SEZ needs a minimum area of 2,500 acres.In March this year, Tata Steel obtained coastal regulatory zone (CRZ) approval from the Union ministry of environment & forests (MoEF) for the industrial park.

Odisha recommends extension of Tata Steel's Gopalpur SEZ

BS Reporter

Canara Bank has launched the Aaadhar Samruddi Card, an Aaadhar-enabled debit card that enables cash withdrawal at ATMs and also micro ATMs with business correspondent agents in the rural areas

Canara Bank widens rural presence

To achieve this, the corporation has chalked out a mega plan that includes opening of more hyper markets, fair price shops and a slew of consumer products under its popular brand, Sabari

Kerala Supplyco targets Rs 5,000-cr turnover by '15-16

Andhra Pradesh chief minister N Kiran Kumar Reddy on Saturday announced a Rs 50-crore fund for Uttarakhand, recently battered by heavy floods

AP announces Rs 50 cr fund for Uttarakhand

For new bookings travellers are in wait-and-watch mode, hoping for local currency to regain

Rupee fall cuts foreign holidays short

Business Standard

With Appointments Committee of Cabinet (ACC) of government of India yet to finalise a name for the post of Indian Institute of Management, Ahmedabad (IIM-A) director, the current acting director Ajay Pandey has got another extension for three months.

IIM-A acting director Pandey gets another extension

Goa Chamber of Commerce and Industry (GCCI) has highlighted the need to attract new investment and generate employment opportunities in the state against the backdrop of current ban on iron ore mining

Goa needs to attract new investment, says GCCI's  president

Press Trust of India

Survivors of Bhopal Gas tragedy and various non-government organizations which are fighting for justice for the last several years have condemned the decision of US Federal court that dismissed the appeal filed by some of the victims including Janki Sahu.Sahu argues that the District Court took an unduly narrow view of who may be held liable for creating a nuisance and that she had adduced sufficient facts for a reasonable juror to find that UCC had participated in the creation of the nuisance.  The organizations said that that the decision of the Appellate court was a gross miscarriage of justice as it deliberately ignored the documentary evidence presented in court in the last nine years. The organizations said that they would now persuade the Indian government, owner of the contaminated lands, to intervene in the case pending before the US court. "Internal corporate documents presented before the three Appellate court 'unambiguously' demonstrates that Union Carbide Corporation, USA,

Bhopal Gas tragedy: Survivors, NGO condemns decision

Janki Bai Sahu, who had filed a case in US court and sought damages relating to the operation Union Carbide Corporation (UCC) plant in Bhopal was dismissed last week on several grounds, including the expiration of the statute of limitations. She was fighting the case against the multinational company for the last eight years.Sahu has filed case on behalf of herself, her family, as guardian of her minor children.  Sahu, the court said, appears to focus on public nuisance, and emphasizes that "everyone who creates a nuisance or participates in the creation or maintenance of a nuisance are liable jointly and severally for the wrong and injury done thereby." The court, however, referred to New York's First Department that has cautioned that courts are not to lay aside traditional notions of remoteness, proximate cause, and duty when evaluating public nuisance claims.Sahu and her fellow plaintiffs, whose claims were not barred by the statute of limitations, filed a case in the Southern Dist

Bhopal gas victims lose case against Union Carbide in US Court

An alert has been sounded by the Gujarat Maritime Board (GMB) for ships approaching Gulf of Kutch, after 17 containers on board vessel MV Rajeev Gandhi slipped off Okha West and began floating in the sea, a GMB official said

17 containers slip from ship in Guj waters, alert sounded

Mercedes Benz is all set to introduce a technology that would enable communication between two cars and also between driver and manufacturer, a top official of the German Luxury car maker said. "You get more and more connectivity between cars as well as between manufacturer and driver. We are developing an integrated system called 'My Mercedes'. This system gives all participants using an automobile a possibility to communicate (with one another)."There will be more and more communications coming up," Eberhard H Kern, Managing Director and CEO, Mercedes Benz India said during his recent visit here. 	Kern added that their R&D centre in Bangalore would play a key role in developing the technology. According to a press release issued earlier this month by the company, each vehicle will be fitted with Car-to-X communication and it can transmit information on dangers to other road users and therefore contribute to enhancing the road safety.Mercedes Benz passenger cars are able to detect

Mercedes plans traffic alert system

It would take some time to bring all identified drugs under price control

Revised prices of more drugs soon

Looking to expand its fruit and vegetable business, leading milk supplier Mother Dairy today said it will open 55 new Safal outlets in the National Capital Region and Bangalore, taking the tally to nearly 500.Mother Dairy Fruit & Vegetable, established in 1974, is a wholly-owned subsidiary of National Dairy Development Board (NDDB). The company's business is divided into four segments - milk, dairy items, Dhara edible oils and horticulture through Safal brand and outlets. The product portfolio under Safal brand includes fresh fruits and vegetables, frozen vegetables, juices and processed food items such as jam, pickle and tomato ketchup."We presently have 400 Safal outlets in Delhi-NCR and 30 stores in Bangalore. We will be adding 40 stores in NCR and 15 in Bangalore this fiscal," Mother Dairy Fruit and Vegetable Business Head (Horticulture) Pradipta K Sahoo said. He noted that sales volume in the existing Safal outlets could not be increased beyond a point. "For further growth of

Mother Dairy to expand retail presence

India is fast losing its status as a leading producer and exporter of pepper, also known as "black gold", as production and cultivated area of this spice variety have dwindled

India losing ground in pepper production, exports

"It is unfortunate that despite repeated judicial pronouncements, the executive authorities entrusted with the task of acquiring private land for any public purposes have time and again exhibited total lack of seriousness in the performance of their duties under the Land Acquisition Act," the Supreme Court stated in the case, Women's Education Trust vs State of Haryana. All the principles laid down by the court were broken. The court therefore reiterated the cardinal principles to be followed: The landowners should be given a chance to raise objections, to prove that there was no public purpose involved, alternative land was available, the collector should give reasons for the acquisition and why it is imperative despite the objections, and his report shall be examined by the state government for its objectivity.Refund order set asideThe Supreme Court has set aside the judgment of the Delhi High Court which had directed Engineering Export Promotion Council to refund the money deposited

Landowners' rights flouted

The Bombay High Court in the case of CCE  versus Techno Economic Services Pvt Ltd- 2010(255)ELT526(Bom) observed that  in spite of engaging multiple advocates, adjournments are sought, which result in payment of heavy professional charges to the advocates appearing for the departmentMy experience in adjudicating cases, conducting litigations and appearing in courts as a witness for the past several decades, has led me to the conclusion that adjournments asked for and given by courts, tribunals and departmental adjudicators is a potent weapon to manufacture delays.  As late as on May 13, 2013, the Supreme Court expressed "anguish,  agony and concern" over adjournment granted by a Punjab Trial Court in a bride burning case, which stretched the process of examination of witnesses to more than two years.  In spite of the Supreme Court strictures on many occasions before, against granting many adjournments, the malady is still rampant.Amongst the reasons for manufacturing delays, the one wh

Adjournment should not be used to cause delay

There are a large number of multinational companies operating in India. In case of multinational companies, it is a common practice that their employees are transferred from one country to other countries for serving offices situated in various countries. Since the rate of tax on salary income differs from country to country, therefore, whenever an employee is relocated, his prime tax liability would also be different.In such a situation, the employer normally gives an assurance to the employee that the employee will continue to receive the same salary that he would have received had he not been relocated to another country.This assurance is given by following the tax equalisation policy. Tax equalisation is one of the methods widely used by multinational corporations to ensure that their employees who are on international assignment do not suffer combined taxes on income (in home and host country) in excess of what they would have paid had they continued to reside in the home country.

India ensures tax equalisation for international posting

'Ex parte' orders are resorted to, without any requirement to follow up and complete investigations. Once such an order is passed, regulators naturally bend over backwards to justify the initial action

UK Supreme Court upholds fairness & equity

Created events like Republic Day and Independence Day record higher sales compared to the Diwali week

Big-ticket events

TheÂ CornÂ LawsÂ wereÂ trade lawsÂ designed toÂ protectÂ cerealÂ producersÂ in theÂ United Kingdom of Great Britain and IrelandÂ against competition from less expensive foreignÂ imports between 1815 and 1846. What was founded to campaign against these laws and by whom? Octra, Mint, My and Gateway were alternate names shortlisted by its founders. By what name is this entity known today? The sales of Ray Ban's aviator rose by 40 per cent in the seven months following the release of the film Top Gun in 1934. Similarly, what was the impact of the Academy Award-winner It Happened One Night, starring Clark Gable and Claudette Colbert,in the US? After a decade of development at its laboratory, which sits above a 333-metre-deep mineshaft used as a test bed, the company has devised a system that should be able to raise an elevator a kilometer (3,300 feet) or more. This is twice as far as the things can go at present. Name the company. During the 1840s which saw growth in commerce and migration

The Strategist Quiz (#310)

The Corn Laws were trade laws designed to protect cereal producers in the United Kingdom of Great Britain and Ireland against competition from less expensive foreign imports between 1815 and 1846.

Answers to last week's quiz (#310)

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