* AVIATION: The specification in the non-compete clause of their MoU to form a joint venture by Tata Sons and Singapore Airlines, allows for Tata Sons to operate low cost airline in partnership with AirAsia.
-The aviation ministry has objected to certain clauses in a draft concession agreement prepared by the Planning Commission to privatise six state-run airports.
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* BANKS: The Hongkong and Shanghai Banking Corp has discontinued retail broking and retail depository services business in India with immediate effect. Bank Internasional Indonesia, a subsidiary of the Maybank Group, will open its first branch in India on Monday.
* CAPITAL GOODS: The Cabinet has cleared a proposal to sign a MoU with China that allows Chinese power equipment manufacturers to set up service centres in India .
* COAL: The CBI, which is carrying out probe into the Coalgate scam, may book some more private companies soon which were allegedly awarded blocks in violation of norms.
* COURTS: The Supreme Court has ordered the Central Bureau of Investigation to probe eight criminalities, other than those related to spectrum allocation, found in the Niira Radia tapes containing telephonic conversations of the corporate lobbyist. The court observed that the conversations suggest "connivance" between the government and private persons.
- The Bombay High Court has directed Writer Packers and Movers not to use the name 'Writer' and remove it from their website till final orders after PN Writer & Co accused the company of violating intellectual property right.
* ENERGY: Renowned entrepreneur C Sivasankaran's WinWinD, a wind turbine maker based in Finland , has filed for bankruptcy.
* EXCHANGES: The settlement guarantee fund of the National Spot Exchange was frequently misused to fulfil the payment obligations of defaulting members, a report by Grant Thornton said.
* REGULATORY: A study commissioned by Securities and Exchange Board of India has proposed lowering or elimination of securities transaction tax on protective-put and hedged-call positions in order to boost the options market. SEBI is set to tweak a number of existing regulations to bring those in line with the new Foreign Portfolio Investors regime, into India .
* REAL ESTATE: Hirco has defaulted on payments to lenders for its two large 10-bln-rupee-plus townships in Panvel and Chennai. If Hirco defaults, HDFC with 5-bln-rupee exposure will auction the Chennai property. Coastal Projects may restructure loans worth 37 bln rupees.
* RETAIL: After months of investigating allegations that Walmart violated foreign exchange norms, the Enforcement Directorate has decided to close the case against the US retail giant. Private equity firm New Silk Route has acquired a majority stake in Moshe's Fine Foods.
* TAX: Entry taxes, or taxes levied on goods while entering a state, are set to be subsumed under the Goods and Services Tax.
* TELECOM: The defence ministry has agreed to swap 3G spectrum it holds with the telecom department for frequencies in another band. Questioning income tax department's move to claim tax over shares issued by Pune unit of Vodafone to its parent company, the British telecom major has moved Bombay High Court to seek relief from the tax demand. The state government's draft policy for installation of cell towers atop buildings has totally ignored the guidelines issued by Department of Telecommunications, said activists.
-The aviation ministry has objected to certain clauses in a draft concession agreement prepared by the Planning Commission to privatise six state-run airports.
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* BANKS: The Hongkong and Shanghai Banking Corp has discontinued retail broking and retail depository services business in India with immediate effect. Bank Internasional Indonesia, a subsidiary of the Maybank Group, will open its first branch in India on Monday.
* CAPITAL GOODS: The Cabinet has cleared a proposal to sign a MoU with China that allows Chinese power equipment manufacturers to set up service centres in India .
* COAL: The CBI, which is carrying out probe into the Coalgate scam, may book some more private companies soon which were allegedly awarded blocks in violation of norms.
* COURTS: The Supreme Court has ordered the Central Bureau of Investigation to probe eight criminalities, other than those related to spectrum allocation, found in the Niira Radia tapes containing telephonic conversations of the corporate lobbyist. The court observed that the conversations suggest "connivance" between the government and private persons.
- The Bombay High Court has directed Writer Packers and Movers not to use the name 'Writer' and remove it from their website till final orders after PN Writer & Co accused the company of violating intellectual property right.
* ENERGY: Renowned entrepreneur C Sivasankaran's WinWinD, a wind turbine maker based in Finland , has filed for bankruptcy.
* EXCHANGES: The settlement guarantee fund of the National Spot Exchange was frequently misused to fulfil the payment obligations of defaulting members, a report by Grant Thornton said.
* REGULATORY: A study commissioned by Securities and Exchange Board of India has proposed lowering or elimination of securities transaction tax on protective-put and hedged-call positions in order to boost the options market. SEBI is set to tweak a number of existing regulations to bring those in line with the new Foreign Portfolio Investors regime, into India .
* REAL ESTATE: Hirco has defaulted on payments to lenders for its two large 10-bln-rupee-plus townships in Panvel and Chennai. If Hirco defaults, HDFC with 5-bln-rupee exposure will auction the Chennai property. Coastal Projects may restructure loans worth 37 bln rupees.
* RETAIL: After months of investigating allegations that Walmart violated foreign exchange norms, the Enforcement Directorate has decided to close the case against the US retail giant. Private equity firm New Silk Route has acquired a majority stake in Moshe's Fine Foods.
* TAX: Entry taxes, or taxes levied on goods while entering a state, are set to be subsumed under the Goods and Services Tax.
* TELECOM: The defence ministry has agreed to swap 3G spectrum it holds with the telecom department for frequencies in another band. Questioning income tax department's move to claim tax over shares issued by Pune unit of Vodafone to its parent company, the British telecom major has moved Bombay High Court to seek relief from the tax demand. The state government's draft policy for installation of cell towers atop buildings has totally ignored the guidelines issued by Department of Telecommunications, said activists.
