Japan seeks exemption from MAT for its cos in India
Japan has asked India to “at once” exempt Japanese manufacturers operating in India from withholding and Minimum Alternate Tax (MAT). Minister, Embassy of Japan, Isomata Akio, on Thursday, asked for this country-specific concession. He said he was raising the demand in view of Japan’s... read more »
CCI pentalty: impact on OEMs may not be indicative
The quantum of penalty imposed on 14 passenger vehicle (PV) firms in the country by Competition Commission of India (CCI) is unlikely to have a significant credit implication on most of the leading OEMs, pointed out a report of rating agency Icra. Although vehicle OEMs (original equipment... read more »
Adani to begin coal mine development in Australia
The Australian government in July had cleared the proposed $15 b Carmichael coal mine project of Adani Mining Keen on expanding business, Australian Prime Minister Tony Abott on Friday said an Indian conglomerate was all set to embark on Australia’s largest ever coal development to illuminate... read more »
Wilful defaulter tag a ‘powerful weapon’ for creditors
Reserve Bank of India Governor Raghuram Rajan has said the wilful defaulter tag is a powerful weapon in the hands of banks for resolving bad loans. His comments came days after United Bank of India declared Vijay Mallya as ‘wilful defaulter’. “The wilful defaulter tag is a powerful weapon in... read more »
