The day also marks the second Shahi Snan of sadhus belonging to various Akharas

Devotees queue up to take holy dip on Mauni Amavasya

Press Trust of India

The Scientific Advisor to the Defence Minister does not consider the constant barrage of criticism over delays in defence development projects as â€œDRDO bashingâ€, asserting indigenous development takes time and tremendous efforts.â€œHonestly there are some gaps that persisted from the last 25 to 30 years.

Indigenous development takes time: DRDO Chief

The first-ever â€˜INK Talkâ€™ in Thiruvananthapuram, hosted by Asian School of Business, brought together a creative amalgamation of thought leaders

Innovation Talk at T'puram

BS Reporter

The Railways have decided to run three special trains between Hyderabadâ€“Allahabad and back via Nagpur to clear the extra rush of passengers.

Spl trains between Hyderabad-Allahabad via Nagpur

In an attempt to check chain snatching menace in the city, police have recently charged two of the accused under the stringent Maharashtra Control of Organised Crime Act

Mumbai police resorts to MCOCA to curb chain snatching

A cluster of sculptures depicting formative years of Chhatrapati Shivaji, leading to his resolve to wage a fight for freedom against the 16th century Moghul rulers, has now taken shape in fibreglass at the foothills of Shivneri fort, about 100 km from here.Conceptualised by renowned sculptor duo Dinkar Thopte and his son Deepak, the "Bal Shivaji Shilpa-Srushti" project undertaken and funded by the Maharashtra Public Works Department (PWD), has got the nod from eminent historian Babasaheb Purandare who has chronicled the exploits of the Maratha warrior king."The sculptures are designed in fiber glass to ensure durability. The cluster of a dozen sculptures depict ten significant events in the formative years of Shivaji who was born at Shivneri fort and brought up by his mother Jijau who ignited in him the spirit of freedom to fight against the slavery of Moghuls," Thopte said. He said work on the project, which is expected to become a tourist attraction in the sta

Sculptures to bring alive Shivaji's childhood

The project will be executed under the central government's JnNURM

RMC to monitor its vehicles with GPS

Business Standard

Adani Ports and SEZ (APSEZ) has sought fresh approval from the government for 1,840 hectare multi-product special economic zone, which was denotified in October due to non-conformity with SEZ rules.

Adani Ports re-applies for denotified SEZ at Mundra

The Supreme Court last week held that dependents of a worker who dies in the course of employment are entitled to compensation both under the Workmenâ€™s Compensation  Act and under the Motor Vehicles Act, dismissing the appeal of Oriental Insurance Company. The insurer challenged compensation awarded by the Motor Vehicle Accident Tribunal and the Karnataka high court for the death of a Mormugao port trust worker in the course of employment. The port authorities had awarded compensation to the dependents under the Workmenâ€™s Compensation Act. The dependents had moved the tribunal before that. The insurance company argued that since the dependents had received compensation under the Workmenâ€™s Compensation Act, they were barred under the Motor Vehicles Act to claim compensation once again. The Supreme Court rejected the contention. It said that the dependents were the first to move the tribunal claiming compensation. In the meantime, the port authorities proceeded under the Workmenâ€™

M J Antony: Dual claims for compensation

RBI has been insisting on banks to utilise various measures on recovery of bad loans and strengthen due diligenceThe global rating agency, Moodyâ€™s, in its latest report of 2013, has downgraded Indian banking systemâ€™s rating outlook from â€˜stableâ€™ to â€˜negativeâ€™. The Reserve Bank of India (RBI) has also observed in its second quarter review of monetary policy 2012-13 that the Non Performing Assets (NPA) and restructured loans of banks have been increasing significantly and a major reason for deterioration in the asset quality of banks is the lack of effective timely information exchange among banks on credit, derivatives and un-hedged foreign currency exposures.As per the available statistics, NPAs for all banks rose to 3.6 per cent in September 2012 and are expected to reach 4% by March 2013 and 4.4 per cent  by the March 2014.In the first two quarters of the current fiscal 2012-13, the banks referred a record number of 74 CDR cases; total

KP Shashidharan: Non-performing assets in Indian banks

LG Electronics Inc, a Korean company, set up a wholly owned subsidiary in India (LG Electronics India Pvt Ltd). LG Korea provided its technical assistance to LG India for which it agreed to pay royalty at the rate of one per cent. LG Korea also permitted LG India to use its brand name and trade marks in relation to products manufactured in India. The use of brand name and trade marks were allowed on a royalty-free basis. LG India in the normal course of its business incurred certain advertising, marketing and promotion (AMP) expenditure for which payment was made to non-associated parties. The TPO held that the expenditure incurred by LG India resulted in promoting the LG brand owned by LG Korea and hence LG India should have been adequately compensated by LG Korea. In other words, the TPO made adjustments on account of expenditure incurred by LG India on AMP deeming that the expenditure has resulted in brand building of LG for which LG India should have been compensated by LG Korea.

HP Agrawal: Controversy on definition of international transaction

The unofficial name of exemption list Notification No.25/2012-service tax dated 20.6.2012 of Service Tax is Mega Exemption List.  Such a big list of exemptions is quite contrary to the idea of a comprehensive service tax.  If the service tax is supposed to be comprehensive, which was the design propounded in the Concept Paper, it should have only a Negative List and not an exemption list.  However, the government thought it better to have an exemptions list also since the Negative List covers only those services, which are not taxable at all and exemptions list covers those services which are taxable but are exempted due to contingencies such as pressures from lobbies or difficulty in collection.Negative List cannot be altered except in the Budget but exemptions can be given or withdrawn any time.  So, Negative List should contain items which are usually never taxed.  Even if we accept it on principle, in effect, this has not been done.  And exemptions have been given too g

Sukumar Mukhopadhyay: Mercilessly prune mega (service tax) exemptions list

The Securities and Exchange Board of India (Sebi) has struck again.  It has issued a circular setting out a new regulatory framework for schemes of arrangement involving listed companies, which are approved by a court-supervised process.  The circular is indeed a response to provocative practices in the market â€“ some companies have made provisions in schemes that make possible, the impossible, for example, getting unheard-of accounting entries cleared.However, three clear themes of regulatory mistake are underlined by the circular: paternalism, regulatory competitiveness, and a breakdown in legal process. The contents of Sebiâ€™s circular have serious immediate impact on the members of society.  In fact, Sebi has had to make provisions on dealing with the transition necessitated by the sweep of its measures. However, none of the measures involved an emergency. Yet, the circular was not preceded by any public consultation, a grossly erroneous approach to taking regulatory

Somasekhar Sundaresan: Cowboy actions attract cowboy reaction

It is easier to convert online ticket buyers into online shoppers, says a Google report. Not only are online ticket buyers likely to spend more, but are also comfortable with using credit and debit cards online (Click on graphic)

Travel, a gateway for e-commerce

Which company derives its name from a combination of words which in a major Indian language mean clever thinking and loans?

The Strategist Quiz (#292)

Ed To Seek Legal Advice Before Next Move Against  Manu Chhabria

Oil Scandal Grips Japan

No Life

Power Tanks

Poor Funds Utilisation Affects Updating Of  Land  Records

Fcc Suspects Rigged  Telecom Bids In India

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