New Delhi: The Enforcement Directorate has issued a foreign exchange violation notice to internet giant Google for alleged irregularities in transfer of funds to its foreign entities. The Directorate has asked the Indian arm of the company to explain to it all the permissions the company has obtained from RBI in this regard and its source of income in the country along with I-T returns filed earlier. "We have an...
05:42 PM, Feb 10, 2012
New Delhi: With the rupee depreciating to a new 32-month low against the US dollar, Finance Minister Pranab Mukherjee on Saturday said the Reserve Bank is "keeping an eye" on the situation. "The RBI is keeping an eye on it (depreciation of rupee). They are watching the situation at the appropriate level," Mukherjee told reporters on the sidelines on the Vatsalya Mela 2011 in New Delhi. His comments came a...
01:31 PM, Nov 19, 2011
Mumbai: The Reserve Bank on Thursday directed banks to exercise caution with respect to online forex trading by Indian residents where margin payments through a credit card or deposit are required in view of the risk of fraud. "... Banks should exercise due caution and be extra vigilant in respect of the transactions that require residents to make margin payments for online forex trading transactions through credit cards/deposits in various...
03:51 PM, Nov 17, 2011
New Delhi: The Enforcement Directorate will attach an estimated Rs 50 crore of assets of Pune stud farm owner and alleged tax defaulter Hasan Ali Khan and his Kolkata-based associate Kashinath Tapuriah in a money laundering case. The Adjudicating Authority of the agency based in Delhi recently endorsed an order of ED's Mumbai office in this regard, paving way for attachment of the duo's immovable properties in Mumbai, Pune and...
01:05 PM, Nov 04, 2011
Mumbai: Refusing to grant bail to Pune-based stud farm owner Hasan Ali Khan, accused of stashing away billions of dollars in overseas accounts, the Bombay High Court on Friday asked him to approach the special court handling Prevention of Money Laundering Act cases. Disposing of Khan's bail application, Justice RC Chavan told his lawyer that "why have you come here directly instead of moving the special court as directed by...
06:10 PM, Apr 29, 2011
Walking the tight rope has become a way of life for the Indian exporters. They are either battling a strong rupee or fighting the rising input cost. When problem on both these front seem to ease, a new set of problem hits them. It is either some international market collapsing or interest rates hardening. Clearly, the Indian exporters are in an unenviable situation. Given the scenario what should Indian exporters...
07:03 AM, Feb 28, 2011
Mumbai: The Income Tax Department on Friday imposed a huge penalty of Rs 40,000 crore on businessman Hasan Ali Khan, a 56-year-old alleged stud-farm owner and one of the main accused in the multi-million dollar tax evasion and money laundering case. Hasan Ali on Friday presented himself before the Income Tax Department in Mumbai, after summon was issued to Hasan Ali by the Tax Department in connection with penalty proceedings...
06:45 PM, Feb 18, 2011
New Delhi: The Enforcement Directorate is likely to issue summons to senior officials of the Commonwealth Games Organising Committee in connection with a case of alleged violation of foreign exchange regulations related to the Queen’s Baton Relay in London. The ED is likely to question Games OC chief Suresh Kalmadi and other top brass including Secretary General Lalit Bhanot, Jt Director General TS Darbari, DG VK Verma and Vice Chairman...
04:46 PM, Oct 20, 2010
India's foreign exchange reserves held at the central bank totalled $285.5 billion on October 23. ...
11:10 AM, Nov 03, 2009
Income from Citigroup's banking division, Citicorp, fell by 40 pc in Asia. ...
01:29 AM, Jul 18, 2009
Hasan Ali is under scanner for doing illegal work running into crores of rupees. ...
01:31 PM, Jan 01, 2009
Falling rupees against dollar means a cositlier holiday abroad. ...
11:39 AM, Dec 05, 2008
A latest study reveals domestic tourists are fuelling sex trade in India. ...
01:40 PM, Sep 07, 2008
Through it the country is set to earn Rs 80 billion a year, ASSOCHAM finds. ...
09:19 PM, May 26, 2008
TCS announced securing a major contract with China Foreign Exchange Trade System under the Chinese central bank. ...
02:14 PM, Feb 13, 2007
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