Mauritius

StanChart sells 16.3 lakh Fortis shares for Rs 16 crore

Wednesday May 22, 2013

Standard Chartered Bank (Mauritius) on Wednesday offloaded 16.30 lakh shares of Fortis Healthcare through open market transactions worth nealry Rs 16 crore.

Oracle Financial Services fixes floor price at Rs 2,275

Tuesday May 21, 2013

IT firm Oracle Financial Services Software on Tuesday announced the floor price for sale of over 44 lakh shares worth about Rs 1,009 crore to meet minimum shareholding norms as mandated by market regulator Securities and Exchange Board of India (Sebi...

Essar Energy Mauritius arm to buy 2.4 per cent stake in Essar Oil

Monday May 20, 2013

London-listed Essar Energy Plc said has said that its Mauritius-based unit will buy 2.41 per cent stake in Essar Oil for over Rs 267 crore.

Mauritius says its banking rules don't allow money laundering

Friday May 17, 2013

The 21 players in the Mauritian banking industry comprise 7 local banks, 9 foreign owned subsidiaries, one joint venture and 4 branches of foreign banks. All the banks are licensed by the Bank of Mauritius to carry out banking business locally and in...

Mauritius says tax info exchange pact with India ready

Thursday May 16, 2013

The pact would help the two countries exchange information on tax matters of the entities doing business in the two countries, the African island nation's Finance Secretary Ali Mansoor said.

Promoter stake in Thomas Cook India reduced to 75 per cent via IPP

Wednesday May 8, 2013

Travel services firm Thomas Cook India today said its board has alloted over three crore shares under the Institutional Placement Programme (IPP), thereby diluting the stake held by its promoters to 75 per cent to meet market regulator Sebi's norms o...

Withholding tax cut for rupee-denominated bonds to apply for old investments

Sapna Das | Tuesday April 30, 2013

Finance Ministry officials have told NDTV, the reduction in the rate of withholding tax will also apply to those rupee-denominated government securities (G-sec) and corporate bond investments, which the foreign institutional investors (FIIs) or the q...

Finance Ministry relaxes tax residency certificate norms; Mauritius treaty gets boost

Tuesday April 30, 2013

Wary of hurting foreign investments coming from the Mauritius route, the Ministry of Finance has decided to drop the clause which says that a Tax Residency Certificate (TRC) is necessary but not sufficient.

RBS sells 4.62 per cent stake in SKS Microfinance for Rs 63 crore

Thursday April 25, 2013

Royal Bank of Scotland (RBS) on Thursday offloaded 4.62 per cent stake in Hyderabad-based SKS Microfinance for about Rs 63.50 crore.

Sebi settles case against Citigroup Global Markets

Wednesday April 10, 2013

Market regulator Sebi has disposed of the matter against Citigroup Global Markets Mauritius after it paid Rs 1 crore to settle the charges of not complying with market regulator's reporting standards for off-shore derivative instruments (ODIs).

In India, dodging taxes is part of the game

Tuesday April 2, 2013

India's rich are just about everywhere. Unless it's income tax time. Then, suddenly, they barely exist. The reality is simple: "There are very few people who are paying taxes," said Sonu Iyer, a tax expert at Ernst & Young in New Delhi. And tax dodgi...

More independence a prerequisite for policy committee: Subbarao

Monday March 25, 2013

The Reserve Bank of India is one of the few major central banks where monetary policy decisions rest in the hands of the governor, as opposed to a committee. While the RBI is not statutorily independent, in practice it has wide latitude in setting mo...

Mauritius, the new wedding venue for Indian millionaires

Sunday March 17, 2013

Mauritius is fast becoming a popular wedding venue for rich Indians who come here with family, friends and even Bollywood stars in chartered planes to attend the extravagant ceremonies that continue for days.

New tax avoidance treaty with India: Mauritius

Wednesday March 13, 2013

Mauritius on Wednesday expressed the hope that the Double Taxation Avoidance Agreement (DTAA), which is at the centre of a long-standing controversy over routing of foreign investment into India, will be "behind us" when a new treaty is signed betwee...

Resolution on DTAA likely by April: Mauritius Prime Minister

Tuesday March 12, 2013

India and Mauritius are working to find solutions to their differences on Double Taxation Avoidance Agreement (DTAA) and the issue could be resolved by April when the two sides meet in New Delhi.