Bangalore-based Snap Fitness India, the Indian master franchisee of Minneapolis, US-based fitness chain Snap Fitness, is in the process of raising a $10-million (approximately Rs 55 crore) growth fund to fuel its expansion in the country

Snap Fitness India to raise $10 million to fund expansion

Business Standard

Rs 350-crore expansion to create fitness centres in India, abroad on track

Country Club to acquire properties in US and UK

BS Reporter

Minister of state for infrastructure development and information Santosh Lad said that he would seek legal opinion on the controversial allotment of land acquired for airport expansion in Hubli to private organisations before initiating any action

Karnataka may review land allotment for airport

The induction of M B Patil into the cabinet and allotment of the water resources portfolio to him has raised the hopes of people in North Karnataka

Water resources minister to find himself facing tough challenge

Main opposition Congress has demanded CBI inquiry into wheat procurement by state government

Demand CBI inquiry into wheat procurement

Main opposition Congress has challenged the recently announced slew of sops for labourers by chief minister Shivraj Singh Chouhan

MP Congress flays Chouhan over sops to labourers in election year

Congress today poked fun at BJP saying there was a "civil war" in the Opposition party over the issue of its prime ministerial candidate after L K Advani showered lavish praise on Madhya Pradesh Chief Minister Shivraj Singh Chouhan vis-a-vis Narendra Modi

Cong pokes fun at BJP on PM candidate

Press Trust of India

In a bid to assist the government in ensuring better participation of marginalised groups in higher education policy, the Indian Institute of Management, Ahmedabad (IIM-A) has come out with a working paper on the same

Reservation incentive for marginalised students to enter college, suggests IIM-A study

Idea is to seek development of khadi as a must-have product among youth

NID, Khadi Board in talks for khadi design studio

By-elections for two Lok Sabha and four assembly seat in Gujarat on Sunday saw low voter turnout, but remained peaceful, state elections officials said

Low voter turnout in state by-polls for  2 LS, 4 assembly seats

Shopping portals must work to enhance their digital listening capabilities to address negative feedback

Managing online perception

A management professor coined a term when studying the cases of the disk drive industry. He said that its rapid generational change is to the study of business what fruit flies are to the study of genetics. Name the professor and the term. Connect CEO of Honeywell-David M Cote, CEO of Boeing W. James McNerney, former CEO of Home Depot & Chrysler Robert Nardelli. Founded in 1930, this brand gets its name from its first acquirer, a colony of German Pietists (Lutherans) in the US, called the Ebenezer Society or the Community of True Inspiration. It manufactured the first upright freezer for homes and the first side-by-side refrigerator. Name this brand and its current owner. In the 1920s, the founder of this brand sent his son to study at the ESC business school in Marseille. The son went on to study bacterio-logy  and work for the Pasteur Institute in Paris. This company originated in Spain and is named after the son. Name it. Which company is using this baseline Bring on Tomorrow?

The strategist quiz (306)

A management professor coined a term when studying the cases of the disk drive industry. He said that its rapid generational change is to the study of business what fruit flies are to the study of genetics. Name the professor and the term.

Answers to last week's quiz (#306)

The highest bidder in an auction of plots does not acquire any vested interest merely by depositing a percentage of the amount and earnest money. The bid must be accepted by the authorities otherwise there is no concluded contract. The Supreme Court held so in its judgment, UP Avas Evam Vikas Parishad vs OP Sharma, while setting aside the order of the Allahabad High Court. The Supreme Court reiterated that while accepting or rejecting the highest bid, the authorities were exercising their executive power and the correctness of the decision cannot be subject to judicial review. In this case, auction was conducted for shops and cinema in Bareilly and the highest bidder deposited a percentage of the money. However, the housing commissioner rejected the bid and returned the money. This led to litigation in various courts since 1977. The high court held in favour of the bidder. But the Supreme Court ruled that the high court was wrong on law and facts.Just and fair compensationThe Supreme C

Highest bid can be rejected

In limine rejection of an appeal by the high courts or the Supreme Court on ground of a delay in filing is quite common. But in limine rejection on merit by the courts is nothing but an ignominy. It is a humiliation and discomfiture put together.  The case I am discussing here is an apt example of the above.  It also smacks of harassment to the assessee.The Uttarakhand High Court did not admit an appeal filed by the revenue and rejected it in limine on the ground that there was neither any question of law nor any question of fact  as reported in 2012 (285) ELT 497 (Uttarakhand). The facts are simple in this case.  A Central Excise Assessee submitted a declaration for the purpose of obtaining benefit of notification No.50/2003-C.E. The assessee should have written 50 but by mistake wrote 49.  It was a clerical error.The revenue even accepted that the wrong number of the notification was by mistake and the goods were covered by notification No 50. The commissioner in-charge of adjudicati

Infructuous appeal by revenue creates litigation jam

Irrespective of the difficulties, taxpayers have to comply with the transfer pricing regulations and determine the arm's length price

Insurance valuation: A good benchmark for transfer pricing

Multi-level marketing schemes are about taking informed greedy positions

Careful what you wish for in regulations

Developing the Chabahar port in Iran addresses India's geopolitical as well as economic challenges

Lynchpin Chabahar

The conference is being held from May 30 to June 1, 2013

IIMs meet up at Goa to discuss 'Emerging Issues in Management'

The Central Paramilitary force would launch a joint operation with the state police in Chhattisgarh to combat Naxalites

Joint operation to fight Naxals in Chhattisgarh

CPI(M) today defied a ban on law violation programmes in the metropolis and staged a protest demanding return of money to those defrauded by the Saradha chitfund scam among others."The government is breaking the law every day and asking us not to hold law violations. The government is taking away democratic and political rights of opposition parties," Leader of the Opposition and CPI(M) leader Surjya Kanta Mishra told the rally before the law violation programme.CPI(M) state secretary and Left Front chairman Biman Bose said there would have been no need for law violation if Chief Minister Mamata Banerjee had agreed to the demands for a judicial probe into SFI leader Sudipto Gupta's custodial death and a CBI inquiry into the Saradha chit fund scam."There has been never an instance where law violation programme has been denied by the police and administration in the country," he said."The state government is saying it does not have money, but is spending crores of rupees on festivals," B

CPI(M) defies ban on law violation in Kolkata, holds protest

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