Citizens' Issues
Former information commissioner questions Kejriwal's working style
Former Information Commissioner Shailesh Gandhi wrote an open letter to Delhi Chief Minsiter Arvind Kejriwal questioning his style of functioning and also accused him of believing 'Arvind is AAP, and AAP is India'.
 
"Many of your senior colleagues have left you, or been expelled. Among the five-member team which was to present the nation's voice at the Lokpal bill negotiation team with five ministers, only you remain in solitary splendour," he said in a letter. 
 
"Your implied argument appears to be that they were not serving the interests of the nation. You appear to believe that 'Arvind is AAP, and AAP is India'," he said in the letter.
 
Gandhi, who was an information commissioner with the Central Information Commission, New Delhi, also raised concerns over passing of the Lokpal bill.
 
"Lokpal is another area which has been of concern to people of the nation. You were given an unprecedented majority in Delhi, but a full nine months later there is no sign of the Lokpal bill being passed. It appears that your enthusiasm for a Lokpal has waned...," he said.
 
"Consider making the working of your government completely digital in the next one year and put up all files on the internet each day, save what is exempt," Gandhi suggested to Kejriwal in the letter. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

S K Gupta

1 year ago

"Arvind is AAP, and AAP is India"
Here is what I think Arvind Type Mind-Set is?
First the story then the inference.
When I was a civil servant I thought there is so much corruption/graft so I cannot do anything for the society and I resigned.
And the world and my own family saw me as man sacrificing a good paying job and committing to clean the system. Wow adorable!
So what I was selling and who was my audience?
I was selling the point that that I am sacrificing my career for the betterment of the country and the target audience was my immediate family and friends.
Then I became an Activist fighting corruption choked and polluted streets and something has to be done.
Why not latch on to a Old Veteran fight for social justice all the while and help him to adapt to modern days ways of doing things.
Wow I succeeded here too and who was my target audience, My target audience this time was the youth, the poor man on the street, the auto-walas, the students and anybody and every body who has a television connection at home.
Well Dharnas don't last long so was my stint here.
What Next?
Okay I am a politician now and I float a political party and jump right into the political Dog-Fight.
My Target audience this time will be the masses who vote, perhaps if I can just tell them every one else apart from me is corrupt.
And Wow I am successful again.
Way forward?
In every step of my climbed I blame someone else and that seems to be working and my audience seems to be buying this.
Wow this seems to work too now is the time to get rid of the extra bag and baggage so sack a few of close associates and become the supremo. Hey! that worked too.
Now I am the supreme commander of a crusade against corruption and I have to get to work but wait, lets start by blaming the Central Govt for not allowing me to work. This story is still unfolding
So now the Moral of the story!
I added no value to the society when I was a civil servant because I resigned without solving the problems given to me.
I added no value to the society when I was an activist except for making a public spectacle of corruption and I resigned.
I plan to add no value to the society even now and every one know "Politician Never Resign"
But the how will I survive "Well! Blame Other"
Question Paper(Read - Responsibility Entrusted) given to me is not important so I tend not to solve them and I tell the world I would be able to solve question paper given to "PM - NaMo" of the country or "GM - RaGa" of Congress.
Moral I take home as an observer
This looks like a "go no where plan" to me. I pray for the first family, duped friend circle and the delusional sheepish masses following "Arvind is AAP, and AAP is India" concept. I can't pray for "Ar-wind" because he will be the one who will prove this write-up correct.
Finally I would say "when you add no value to the society at the end of the day you are left with nothing".

RBI enhances bank's ability to change corporate ownership
Increasing their ability to change ownership of borrowing entities under stress due to operational and managerial inefficiencies, the RBI on Thursday permitted banks to upgrade the loan accounts to "standard" class.
 
In a statement, the Reserve Bank of India (RBI) said it has decided to allow banks to upgrade credit facilities given to borrowing entities whose ownership has been changed outside the Strategic Debt Restructuring Scheme (SDRS).
 
However the leeway is subject to certain conditions like the ownership change may be by way of lenders selling to a new promoter their stakes acquired by conversion of debt into equity outside SDR or by bringing in a new promoter by issue of fresh equity.
 
While the bank can classify the loan account as "standard" on change of ownership, the provision made against that account cannot be reversed.
 
Further the new promoter should not be a person/entity/subsidiary/associate etc. (domestic as well as overseas), from/belonging to the existing promoter/promoter group and the banks should establish this fact. The new promoter should also have acquired at least 51 percent of the paid-up equity capital of the borrower company.
 
If the new promoter is a non-resident, and in sectors where the ceiling on foreign investment is less than 51 percent, the he/she should own at least 26 percent of the paid-up equity capital or up to applicable foreign investment limit, whichever is higher.
 
The banks are to be satisfied that the new non-resident promoter controls the management of the company.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Anil Agashe

1 year ago

A feeble effort to reduce the NPAs?

Foreign firms with no India set-up exempt from minimum tax
Ahead of Prime Minister Narendra Modi's meeting with US investors, India on Thursday gave a major tax concession to foreign companies that don't have a permanent set-up in India but operate out of countries with which New Delhi has double tax avoidance treaties.
 
Technically, the ministry of finance has decided to amend the Income Tax Act, 1961, with effect from April 1, 2001, in a manner that provisions of Section 115JB shall not apply to a foreign company if it is a resident of a country having a tax treaty with India.
 
In cases where the country of domicile of the foreign company does not have a tax accord with India, this exemption shall not apply, provided the Companies Act, 2013, exempts it from having a registered office in India.
 
In both cases, the foreign companies also should not have a permanent establishment in India.
 
The amendment is important in terms of minimum alternate tax called for by the Income Tax Act, which seeks to bring under the tax net companies that declare substantial profits in books but show their taxable incomes below what is otherwise due.
 
Earlier, a similar concession was extended to foreign funds from April 1 this year.
 
"An appropriate amendment to the Income Tax Act in this regard will be carried out. Earlier, issues relating to taxation of foreign companies, having no permanent establishment in India, have been under consideration of the government," an official statement said on Thursday.
 
"The government has now considered the issue of applicability of minimum alternate tax under Section 115JB of the Income Tax Act to foreign companies having no place of business or permanent establishment in India," the statement added.
 
The concession to the foreign funds was extended based on the recommendations of the A.P. Shah Committee. The government has extended the same to foreign companies as well. 
 
The move comes just ahead of Modi's business meetings during his ongoing visit to the US. He is set to push for some of his pet projects involving domestic and foreign investors, such as "Make in India", "Digital India", "Skill India" and "Start-up India".
 
Last week, just before leaving for Singapore and Hong Kong, Finance Minister Arun Jaitley declared that all tax disputes will be put to rest over the next few days, and that this was a "work in progress" along with steps to make it easier to do business in India.
 
"Since May 2014, a number of tax disputes have been put to rest," the finance minister said and added: "We are trying over the next few days itself (to look at pending disputes) so that many others can be put to sleep -- either by a judicial resolution or some executive resolution."
 
The global investors have been concerned over the provisions of the Income Tax Act, especially on minimum alternate tax, since they had to compute their income tax liabilities based on two sets of provisions -- under normal circumstances and under Section 115JB.
 
A tax liability was raised even if they merely had a representative office in India.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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