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India shields pre-2017 foreign investment gains from strict tax rules

A man walks past the Reserve Bank of India (RBI) logo outside its headquarters in Mumbai, India, June 6, 2025. (Photo: Reuters)

New Delhi, April 1 (Reuters): India said it would not apply its strict tax evasion rules on foreign investments made before ​April 2017, easing concerns among global investors on Wednesday after a ‌court order in a Tiger Global case raised fears of retrospective scrutiny. A landmark Supreme Court ruling in December said Tiger Global must pay taxes on its $1.6 billion sale of ​a stake in an Indian company in 2018. The judges said ​Tiger Global used its Mauritius units that were only “conduits”, and ⁠no benefit under an international treaty for pre-2017 investments would apply. Get the latest news

India’s Maruti Suzuki warns of price hikes as Gulf war raises costs

Maruti Suzuki Celerio cars are parked beside an in-plant railway siding at Maruti Suzuki's plant in Manesar, Haryana, India, June 17, 2025. REUTERS/Bhawika Chhabra/File Photo

India’s top carmaker, Maruti Suzuki, said on Wednesday that it will likely raise prices ​as the Middle East war has pushed up commodity prices, ‌wiping out gains from last year’s consumption tax cuts. The Iran war has driven up the prices of everything from oil and gas to key metals used ​in manufacturing vehicles. The carmaker, majority-owned by Japan’s Suzuki Motor, said ​it has not faced any supply disruptions, but acknowledged potential disruptions ⁠in the future. “We will be taking a call, but unfortunately ​the commodity prices are going very high, we need to pass it ​on, so we will

Delhi Court sends MCD deputy commissioner to one-day CBI remand in bribery case

Rouse Avenue Court

New Delhi [India], March 31 (ANI): Delhi’s Rouse Avenue Court on Tuesday remanded MCD Deputy Commissioner Lt. Col. Abhishek Kumar Mishra, and co-accused Devanshu Gautam to one-day custody of the Central Bureau of Investigation (CBI) in a bribery case. Mishra, a Colonel serving on deputation with the Municipal Corporation of Delhi, and Gautam, an administrative officer, were arrested for allegedly demanding and accepting a bribe of Rs 4 lakh from an MCD employee facing departmental proceedings in exchange for favours. According to the CBI, “The bribe money has been recovered from Gautam after he accepted the same on behalf of

Coal India’s sales rise for first time in six months on gas crunch, summer demand

Crane unloads coal from a cargo ship summer

New Delhi, April 1 (Reuters): Coal India’s (COAL.NS), sales in March grew for the first time in six months, the company said on Wednesday, ​indicating a ramp-up in coal stocks ahead of peak summer amid ‌a shortfall in gas supply due to the U.S.-Israeli war against Iran. Coal India’s offtake, or sales to customers, rose 0.7% to 69.5 million tons in March, despite a 1.5% drop ​in its provisional output to 84.5 million tons, the company said in ​a stock exchange filing. The state-run company accounts for over 80% ⁠of the country’s production and is the world’s largest coal miner

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