Search Result for : Mauritius Based Investment Firm

The Dollar Business Bureau On Wednesday, the Cabinet Committee on Economic Affairs approved a foreign investment proposal of Rs 9000 crore, put forward by Twin Star Technologies. The FDI proposal is expected to generate employment opportunities for 30,000 people in India.  According to the proposal, the Mauritius based company will invest the said amount in India on or before March 2025. The investment route will comprise a mix of equity, compulsorily convertible preference shares, compulsorily convertible debentures, and other FDI compliant instruments.  The proceeds of the investment will flow towards operations of Twin Star Technologies in India – a venture led by business magnate Anil Agarwal who is also the founder and Chairman of Vedanta Resources Plc. Vedanta’s business interests in India include ...

Source: PTI In a big relief to foreign institutional investors (FIIs), a government-appointed committee has recommended that there was no case for imposing the controversial minimum alternate tax (MAT) on FIIs retrospectively, a suggestion that the government is said to be "favourably" considering. The A P Shah Committee, which was appointed by the government to go into question of levy of MAT on capital gains made by FIIs, submitted its report to the Finance Minister Arun Jaitley on July 24. The panel, a top source said, has recommended that there was no basis for levy of MAT on FIIs for period prior to April 1, 2015. The Committee saw no legal basis for levy of 20% MAT on past capital gains, ...