Indian

Union Bank plans to lower stake in IndiaFirst Life to less than 10%

Apr 26, 2020

“We will continue the process started by erstwhile Andhra Bank to divest the stake to bring it below 10 per cent,” Union Bank of India Managing Director and Chief Executive Officer Rajkiran Rai G told PTI.

Indian govt brushes off Indian tax officers’ proposal for coronavirus tax on super rich

Apr 26, 2020

Finance Ministry sources said that neither IRS Association nor any group of officers mentioned in report were ever asked by the government to give any report on the subject. It was not part of their duty to prepare such a report and taking personal views to the media constituted an act of indiscipline, the sources said.

The report, dated April 23, said that “In times like these, the so called ‘super rich’ have a higher obligation towards ensuring the larger public good”. It also suggested a surcharge for foreign companies with a permanent establishment in India.

Helicopter damage: SC sets aside order asking insurance firm to pay compensation

Apr 25, 2020

The insurance firm had repudiated the state’s claim on the ground that loss that occurred to helicopter was after the duration of policy had ended as mentioned in one of the clause of Institute Cargo Clauses (ICC).

COVID-19 death toll rises to 775, cases climb to 24,506, Govt allows all local shops to open

Apr 25, 2020

Meanwhile,in a reprieve to public at large, the government on Friday night allowed opening of neighbourhood and standalone shops, including those located in residential complexes within municipal areas, but at a 50 per cent strength and after taking necessary precautions.

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