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ED may close FEMA case against Ramdev</br> Enforcement Directorate (ED) may close a case of alleged foreign exchange violation it had initiated a few years ago against yoga exponent Ramdev and his Haridwar-based trusts due to insufficient evidence. Sources said the agency has not been able to make any significant progress in the case as it could not obtain evidence with regard to financial links about the purchase of an island in Scotland that was 'gifted' to Ramdev by a couple who are among his followers. The Little Cumbrae Island, off the fishing town of Largs in Scotland, serves as Ramdev's base overseas and also as a wellness centre. Some similar assets in Madagascar, Africa, were also under probe and the agency had sent official communication for assistance in the case to their counterparts abroad. (PTI) (27/05/2015)
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Smriti Irani rejects Anil Kakodkar's view on IIT directors' selection: </br> HRD Minister Smriti Irani today rejected the views of nuclear scientist Anil Kakodkar on the selection process of directors of the IITs. Kakodkar, who resigned as chairman of the board of governors of IIT-Bombay in March following differences with the HRD ministry, had said that the process to select directors of these prestigious seats of learning was casual in nature. "I strongly protest that kind of an allegation. Paper work will show that within the legal framework, everything was done as per rules," Irani told reporters at a news conference here. Irani said, "To cast aspersions on the office of the President of the country, a Visitor of IITs, is extremely unfortunate". (PTI) (27/05/2015)
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Property tax relief for 17 lakh families in Mumbai </br> In a major relief to 17 lakh families settled in Mumbai, the Maharashtra Government today decided not to increase property tax for next five years for those who own or occupy less than 500 sq/ft property. The decision was taken in the Cabinet meeting chaired by Chief Minister Devendra Fadnavis. The implementation would be with effect from April 1, 2015. Fadnavis told reporters that in 2010 when the Municipal Corporation of Greater Mumbai (MCGM) shifted from rateable tax to capital based tax structure, houses below 500 sq.ft were exempted from increase in property tax for five years. "BMC will soon increase property tax by 40 per cent. The government has decided to continue with the exemption for less than 500 sq.ft tenements," he said. (Reuters) (27/05/2015)
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Have Lord Jagannth's chariot wheel at Rs 50,000!</br> The devotees of Lord Jagannth have a rare opportunity to possess parts of the Lord's wooden chariots, including wheels, after the Odisha government put up them for auction. While the price of a decorated wooden chariot wheel is fixed at Rs 50,000, a piece of "Prava" (a decorative wood work on the chaiot) will cost Rs 25,000. This apart, the Guja (the wodden plate connecting wheel base and floor of chariot) is sold at the rate of Rs 10,000 and the price of Asuri (wodden pillar) is also Rs 10,000 per piece, a notification issued by Sri Jagannath Temple Administration (SJTA) said. "On purchase of one wheel of any chariot, one guja will be free. Similarly, on purchase of two numbers of wheels, one prabha (if available) or two guja will be free," said SJTA PRO Laxmidhar Pujapanda. (Reuters)(27/05/2015)
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US starts accepting employment applications of H-4visa holders</br> US authorities have started accepting employment authorization applications for H-4 visa holders, who are spouses of H-1B nonimmigrant workers and were not allowed to work so far in the country. The US Department of Homeland Security (DHS) yesterday started accepting the applications for H-4 visas. Issuing employment authorization card (EAD) to certain category of spouses of H-1B visas is one of the legislative measures taken by President Barack Obama to fix the immigration system of the country. As a result, about 1,80,000 would be eligible to work in the US. According to the DHS, it will issue EAD within 90 days of receiving the application. Under existing regulations, DHS does not extend employment authorisation to dependents (also known as H-4 nonimmigrants) of H-1B nonimmigrant workers. (Reuters)(27/05/2015)
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Subrata Roy's Sahara Group enters fray to buy its own Grosvenor hotel!</br> In an interesting turn of events, crisis-hit Sahara has entered the fray for buying its own Grosvenor House hotel, which was put on sale by its lender Bank of China after a 'technical default'. The Indian group has been trying to raise funds to secure release of its chief Subrata Roy, who has been lodged in Tihar Jail for over a year, through monetisation of its various assets including the iconic London hotel. Sources said that Sahara group is still negotiating a 'refinancing' deal to transfer the Bank of China loans to some other lender, while it has also entered the bidding fray for Grosvenor House through a 'financier' backed by some global banks to ensure a better valuation of the property. (Reuters) (27/05/2015)
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In the past one year, the share price of United Spirits plunged 20.84 per cent to Rs 2664.65 till Feb 25, whereas the 30-share index Sensex dipped 20.79 per cent during the same period. (Reuters)
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American IT industry calls for raising cap on H-1B visas</br> More than 5,45,000 tech jobs remain vacant in the US which is having a deep impact on Silicon Valley-based firms, American IT industry has said while arguing in favour of raising the cap on H-1B visas to attract the brightest minds from across the globe. “Denying companies access to the skilled workers they need is like asking them to work with one hand tied behind their backs," said Robert Atkinson, president of the IT and Innovation Foundation, in an op-ed. "Instead, the United States should raise the cap on H-1B visas and broaden overall high-skill innovation so that our economic engine can be fuelled by the brightest minds from all over the world," he argued. (Reuters)(27/05/2015)
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35 K'taka firms in India's top 500 companies list for 2015 </br> Dun & Bradstreet said 35 companies from Karnataka have found place in the 'India's Top 500 Companies & Corporate 2015'. Dun & Bradstreet has released the 15th edition of its premium publication 'India's Top 500 Companies 2015' recently, in which 35 companies from Karnataka have been ranked in 'India's Top 500 Companies & Corporate 2015' this year as compared to 25 companies in 2014, the company said in a release. It said Banking and Financial Services sector led the pack with seven entities, followed by Software & ITeS (five entities) and Real estate sector (three entities). The 35 companies from Karnataka include Infosys, Wipro, Bosch, Titan, Canara Bank, ABB, Biocon, BEML and Vijaya Bank. (Reuters) (27/05/2015)
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Gujjar stir: Railways' losses at Rs 100 crore</br> Railways has suffered losses of about Rs 100 crore due to the ongoing Gujjar agitation which has forced cancellation and diversion of as many as 326 Mail and Express trains on Kota-Mathura route so far. Besides, there have been cancellations of about 1.9 lakh tickets since May 21 on IRCTC website, causing a huge logjam for customers to access the site. According to the official, the agitation has cost about Rs 100 crore till now. (PTI) (27/05/2015)
