In the business sector, a JV between New York Life and Max India has exited in form of selling its 26 % shares by New York Life to Mitsui Shumitomo, non-life Insurance Corporation.
Max New York Life is an Insurance Company whose partner New York Life is a foreign shareholder that led to having 26% share of partnership.
Foreign shareholder has directly sold its shares to Japanese Company and now makes Max India, the owner of a large amount of 74% stake in the JV. Read the rest of this entry…
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This time while Indian stock market seems to be at the trouble, each time blinking with a quick up and down change in form of value of rupees against dollar, there are at least three issues that are related with Indian equities and necessary for investor.
First most is linked with the implications of the new general anti-avoidance rules (GAAR) for foreign institutional investors (FIIs).
There is a big hurdle for brokers even for FII that what should be the procedure of financial transaction from April 1 onwards as during the Budget revised norms, the income tax authorities “looking through” the P-note supplier and testing the tax residence of the end investors. Read the rest of this entry…
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