The Government is contemplating legal action against HSBC Bank for what is being described as the “active’’ role of their executives in persuading Indian account-holders to open accounts to park undeclared money in their branch in Geneva. The Central Board of Direct Taxes (CBDT) has sought the opinion of the Law Ministry for this and underlined that a similar course of action has been taken by other countries who, like India,...
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India ready to block any move to put farm tariffs at WTO meet by Amiti Sen
India will resist any attempt by developed countries to take away the right of World Trade Organisation (WTO)-member nations to restrict export of food items and raise import tariffs beyond existing levels. Trade ministers of WTO-member countries are meeting in Geneva on Thursday to try and identify issues that can be discussed till the US presidential elections are over next year. The meeting is also likely to take up proposals to "cherry-pick"...
More »This year will be world’s tenth warmest on record, UN report finds
-The United Nations Temperatures this year are the tenth highest on record since 1850, and the highest ever in a year which experienced a La Niña event, a meteorological phenomenon which is supposed to have a cooling influence on Earth’s atmosphere, a United Nations agency reported today. The findings are among the highlights of the provisional UN World Meteorological Organization (WMO) Statement on the Status of the Global Climate, which provides an...
More »Safety priority for nuclear plants by MS Swaminathan
The stalemate in relation to the Kudankulam Nuclear Power Project (KKNPP) continues despite the ‘fail-safe’ certificate issued by former Indian President Abdul Kalam and the central panel of experts headed by A E Muthunayagam. The representatives of the people of that area are still saying, “We will never settle down for anything less than the scrapping of the KKNPP.” Srikumar Banerjee, secretary of the department of atomic energy, has expressed...
More »I-T probe rolling in black cash cases by Pradeep Thakur
Finance secretary R S Gujral on Tuesday said the income tax department has started prosecution proceedings against all those found guilty of stashing black money abroad, including the Indians found having accounts in HSBC, Geneva. Gujral said it was an entirely wrong notion that people found accused in black money cases would be left without prosecution. "We have started prosecution process and we are bound by no agreement not to do...
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