2. The High Court ruled that Vodafone must pay a
capital gains tax on its $11-billion acquisition of a
controlling stake in mobile phone operator Hutchison.
Vodafone will appeal to the Supreme Court in
the next two to four weeks.
Vodafone remains confident that there is no tax
pay on the transaction.
HC judgment raised a new debate on whether
the court said only a part of the transaction was taxable ,
or the entire transaction
3. Petroleum Ministry has asked Cairn Energy
Plc to seek fresh approval for Vedanta Industries bid
to acquire 60% stake in Cairn India.
Petroleum Secretary, S Sunderashan said we
can only intervene once Cairn India provides the
appropriate letter that contains details of the
Product-sharing contract (PSC)
These PSC norms require government
approvals if there is involvement of change of
ownership and management of the company.
4. In wake of destruction caused by the
cloudburst.
MOS for television said BSNL will spend
Rs. 45 cr for reconstruction and expansion of
facilities to normalize the services.
23 cr on technical, around 13 cr on
mobile and transmission network.Target to 108
wimax in 2010-2011.
5. Suzuki is planning to set up the 3rd
manufacturing plant by 2013 at the same site in
Manesar.
Suzuki has a 54% stake in the Indo-Japanese
joint venture.
The market share of Maruti Suzuki plummeted
from 53.3% to 47.7% in April-July period,2010.
The 3rd plant is expected to boost up the
production capacity to 8 lakh vehicles from the
present 3.6 lakh.
6. Amway India, a direct selling Fast Moving
Consumer Goods (FMCG) company, planned to set
up their second manufacturing facility in the country
in South India
It would help the company to boost its sales and
increase its product range
The company, a 100 per cent subsidiary of US-
based Amway Corporation, had been witnessing a
25 per cent year-on-year growth in its revenues
For setting up the present manufacturing
facility, the company has inked an agreement with
Baddi-based vendor Sarvotham Care Ltd
7. Maruti, Tata Motors & Skoda sat to drive into
Multi-Utility Vehicle segment.
“MUV`s are gaining ground with their higher
utility and lower cost of operation, "Toyota's deputy MD
(mkt) Sundeep Singh said.
It is likely to come with advanced features like
wheel traction control, climate control, navigation
system, multiple airbags and antilock braking system
