TCS would implement SAP software and business warehousing solutions for its integrated steel mill in the Gulf region
Dubai: United Steel Company (SULB), the Gulf region's first fully integrated steel sections and beams producer, has announced that it has signed an agreement with IT major Tata Consuntancy Services (TCS) for the implementation of SAP software and business warehousing solutions for its integrated steel mill, reports PTI.
"We are pleased to be working with TCS, a global leader in software and business solutions, on the implementation of SAP solutions for SULB," said Mohammed Al-Jabr, CEO, SULB.
The amount of the deal was not revealed.
"Having recently appointed TCS, we have moved swiftly along, kicking off the project, which we expect to completed over the coming eight months," he added.
SULB and TCS held a meeting on 21st May to commence the project.
SAP will be implemented for Finance/Costing, Materials Management, Sales & Distribution, Production Planning, Quality Management, Plant Maintenance and HR/Payroll along with SAP's business intelligence tools, he said.
SULB is a joint venture between Bahrain-based Foulath, the region's leading steel investment vehicle and holding company (owning 51%), and Japan's Yamato Kogyo, a leading global sections and beams producer (owning 49%).
As long as the Air India pilots are on strike, the Court says it is not inclined to hear the matter and these pilots cannot go on strike as well as get training simultaneously
New Delhi: The Delhi High Court on Wednesday said the striking pilots of Air India have no right to get training on advanced Boeing 777 to be used in international flights, reports PTI.
Refusing to hear an Air India appeal against the single judge's 11th May order which had stayed the training of more pilots till the implementation of Justice Dharmadhikari panel recommendations on the issue, a bench of Acting Chief Justice AK Sikri and Justice Rajiv Sahai Endlaw said "let them call off the strike, we will then hear the matter."
The high court, however, refused to disturb the ongoing training of the Air India pilots.
"So long as they (Air India pilots) are on strike, the court is not inclined to hear the matter. They cannot go on strike as well as get training simultaneously," the bench said pulling up the Air India management for seeking court's intervention for training to the pilots who are on strike.
The bench, while posting the matter for hearing in July, made it clear that if the pilots call off their strike, they can file an application for hearing the matter.
"As they are on strike, they have no right to get any training. If the strike is called off they can move an application for hearing of the matter," the court said.
The order came after Air India's counsel Lalit Bhasin submitted to the court that the single judge was wrong in staying the training being imparted to the Air India Pilots for Boeing 777.
He also submitted that staying the training will cause huge financial loss and the advance flight will be grounded.
According to Air India, 200 Commanders (chief pilots and 200 First Officer (co-pilots) need to undergo training for Boeing 777 but at present only 64 Commanders and 62 co-pilots are undergoing training.
To Bhasin's submissions, the court wanted to know whether the Air India Pilots are on strike and getting training at the same time.
The Court's 11th May verdict had come on a plea by the erstwhile Indian Airlines pilots under the banner of Indian Commercial Pilots Association (ICPA) for an order to stay the ongoing training and also direct Air India to impart training to them as well along with their counterparts in Air India for the rank of Commanders for Boeing 777.
"I hereby make it clear that those pilots of Air India, who are already on training on advanced aircrafts, shall not be disturbed," Justice Suresh Kait had said, adding, however, "... those who have already taken the training on advance aircraft shall be subject to the outcome of the instant petition."
"I am of the considered opinion that till the report submitted by Justice Dharmadhikari Committee is implemented, the imparting of training on advanced aircraft, in this manner, shall remain stayed," the single judge had said.
Considering ICPA's contention that if the new training system is implemented, co-pilots of Air India will be directly promoted to the post of commanders of the advanced aircraft, the court observed it will prejudice the rights of erstwhile Indian Airlines pilots who will remain as commanders of basic aircraft only, thus affecting their seniority.
ICPA had moved the high court alleging it has not been dealt "at a par" with Indian Pilots Guild (IPG), an association Air India pilots.
During the course of hearing, Air India counsel Lalit Bhasin had argued that the management had taken the decision to train only Air India pilots for advance aircrafts because of their different nature of job and different experience profiles.
In cases where assessment proceedings have become final before first day of April 2012, the I-T department would not re-open the cases says the finance minister
New Delhi: Providing comfort to worried foreign investors, Finance Minister Pranab Mukherjee on Wednesday said the Income Tax (I-T) Department will not re-open cases where assessment proceedings had been finalised before 1 April 2012, reports PTI.
"I gave a commitment in Parliament with regard to retrospective amendments that the Central Board of Direct Taxes (CBDT) will issue a policy circular to clarify that in cases where assessment proceedings have become final before first day of April 2012... such cases shall not be reopened. Now CBDT has issued a circular in this regard", he said while inaugurating Pratyaksh Kar Bhawan in the capital.
Mukherjee, in the Budget 2012-13, proposed to amend the Income Tax, 1961 with retrospective effect to tax Vodafone- type merger and acquisition deals done overseas that involve domestic assets.
These amendments, which came into effect with the President giving assent to the Finance Bill, 2012, had raised concerns among investors about re-opening of the old cases.
Referring to issues concerning transfer pricing, Mukherjee said he had constituted an advisory group to deal with international taxation, especially multi-level tax deduction at source (TDS) on software companies.
"I have constituted an advisory group to resolve various issues in the area of transfer pricing and international taxation. The group has held its first meeting on 25th May.
"On advise of group and Nasscom, I have approved issuance of a circular to avoid multi-level TDS on software under section 194 J (of the Income Tax Act). This will remove hardship in case of software distributors," Mukherjee added.
Section 194-J of the I-T Act deals with fees for professional and technical services and covers royalty and non-competence fees.
Multinational companies resort to transfer pricing to shift profits from high-tax countries to low-tax jurisdictions with a view to reducing overall tax liability.
Talking about the economic issues, Mukherjee said, India is also confronting the same problems as the world economy and underlined the need for fiscal consolidation.
At the bottom of the global crisis is tendency to spend more than the capacity to spend, he said.
"As individual is expected to live within its means, the state is also expected to live within its means... There comes the question of fiscal consolidation to maintain the fiscal discipline through proper revenue realisation to disburse it judiciously and of course spend it judiciously," he added.
In the Budget 2012-13, Mukherjee had proposed to bring down the fiscal deficit to 5.1% of the Gross Domestic Product (GDP) from 5.9% during the previous fiscal.