NEW DELHI: India is planning a new law to safeguard foreign investment by speeding up dispute resolution, aiming to attract more capital from overseas to boost stuttering domestic growth, two officials with direct knowledge of the matter told Reuters. In a 40-page initial draft, the finance ministry has proposed appointing a mediator and setting up fast-track courts to settle disputes between investors and the government, one of the sources said. “The idea is to attract and promote foreign investment, but a major issue for investors is enforcement of contracts and speedy dispute resolution,” said the official. The draft proposal is aimed at diffusing investor mistrust around the sanctity of agreements, which has worsened recently after some state governments decided to review approved projects, or threatened to cancel contracts. Both officials declined to be named as the proposal is not public, and is still being assessed by different ministries and regulators. A … [Read more...] about India plans new law to protect foreign investment: Report
Foreign investment in real property tax act
The Bharat Hotels group runs over a dozen such luxury hotels across the country and a property in London. Jyotsna Suri has been associated with the Bharat Hotels group since 1989 and took over as the Chairperson and Managing Director (CMD) in 2006, after the death of her husband and hotelier Lalit Suri. The businesswoman has also been the chairman of industry body FICCI in the past. … [Read more...] about In raids on Bharat Hotels group, taxmen find Rs 1,000 crore foreign assets
Real Estate Vocabulary or 'shoptalk ' can be confusing, especially to first-time home buyers or those who haven't sold or bought a house in years. When working with clients I aim to not only help them buy or sell a home but make sure they understand the process every step of the way. Understanding the options and Real Estate process ensures I empower people to make the best decisions for themselves. I've compiled a list of commonly used words in Real Estate. If there are terms I didn't list feel free to contact me personally. My daughter is a teacher and always jokes my job is half selling houses and a half teaching Real Estate 101! … [Read more...] about Real Estate Vocabulary 101
Pearls Agrotech Corporation Limited (PACL), which had raised money from the public in the name of agriculture and real estate businesses, was found by market regulator SEBI to have summed up over Rs 60,000 crore via illegal collective investment schemes in 18 years. … [Read more...] about Market regulator SEBI warns investors against dealing in PACL properties
NEW DELHI: The Centre on Thursday announced the formation of committees and a group of ministers to sell properties of Chinese and Pakistani nationals + seized by the Indian government after the 1962 war against China and the 1965 and 1971 wars against Pakistan. There are 9,406 'enemy properties', worth over Rs 1 lakh crore, hundreds of crores worth of enemy shares and gold and silver jewellery worth Rs 38 lakh held by the government. Enemy Property Act The Enemy Property Act enacted in 1968 regulates such properties. The act was amended in 2017 to ensure that the heirs of those who migrated to Pakistan and China will have no claim over the properties left behind in India. Pakistan had also sold similar Indian-owned properties it had seized (including in East Pakistan). This was in violation of the Tashkent Declaration signed in 1966 that said that the two countries would discuss the return of the assets taken over by either side in connection with the 1965 war. Where are these … [Read more...] about Enemy property to the finance minister’s rescue?