Taxmen Recover Rs 30,000 Cr Black Money; Oil Regulator`s Report On KG-D6 Is Half-Baked Says RIL; Sensex Down 51 Pts

Wednesday, May 18, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version TAXMEN RECOVER RS 30,000 CR BLACK MONEY IN 2 YRS Taxmen have seized black money to the tune of a whopping Rs 30,000 crore in the country in the past two years, said the Central Board of Direct Taxes (CBDT) which is set to get investigative powers to boost its drive against wrong-doers. The CBDT is in the process of creating a Directorate of Criminal Investigation after getting approval from finance minister Pranab Mukherjee. CBDT chairman Sudhir Chandra said they have gone after big shots and every search or survey has yielded more than Rs 100 crore in black money. read more LEAD STORIES OIL REGULATOR'S REPORT ON KG-D6 IS HALF-BAKED: RIL RIL says that the study was done without visiting the fields and the company was not given an opportunity to present its views. read more SENSEX SLIPS FOR THIRD DAY, DOWN 51 PTS Sensex fell for the third straight day on sustained selling by funds and closed at 18,086.20 points. Nifty fell 18.35 points to end at 5,420.60. read more TOP STORIES • Bihar CM Nitish Kumar calls bankers corrupt • 2G: Swamy wants Chidambaram's role to be probed • DEPB scheme for exporters to end on June 30 • HC asks CCI to give copy of order to NSE in a week • Bajaj Auto Q4 net zooms 165% to Rs 1,400 cr • Retail investors to get discounts at bidding time: SEBI • Reliance ADAG to invest $ 5-10 bn in Indonesia mines • Fertiliser cos may be permitted to hike prices • MoEF-Coal Min tussle to top agenda at XI Plan meet • TCS, HDFC named 'India's best managed' companies • Indiareit in talks to sell Pune SEZ stake for Rs 500 cr • MRF plans to raise $111 mn via bonds • FICCI's Amit Mitra resigns, Rajiv Kumar front-runner • India 32nd in world competitiveness in IMD list • Sumit Bose to take over as Expenditure Secretary • Chandy, Gogoi sworn in as Kerala, Assam CMs • Raman asks PM to remove Binayak from Plan Panel • Is Indian Premier League losing its lustre? • 'Consensual sex' says Strauss-Kahn; on suicide watch • Philip Roth wins Man Booker International Prize more stories TOP VIDEOS The Higher Upstream Subsidy Burden Will Not Be Well Received By The Market: RS Sharma, Former Chairman, ONGC In Our Communist Party We Don't Hold Anybody Accountable For Electoral Losses: Prakash Karat, General Secretary, CPI(M) I Don't know What Is Going To Happen With Strauss Kahn's Case But It Is Very Damaging: Martin Wolf, Chief Economics Commentator, Financial Times Commodity Prices To Continue To Head North & The Global Demand For Them Will Remain Robust: Peter Redward, Head Rates & Research Emerging Asia, Barclays Capital AT A GLANCE BSE 18086.2 -51.15 NSE 5420.6 -18.35 TURNOVER Rs. 133,485 cr BSE CASH Rs. 2,509 cr NSE CASH Rs. 10,509 cr NSE F&O Rs. 120,466 cr BULLION GOLD 21973 +158 SILVER 53349 +1769 CRUDE NYMEX 102.25 -0.08 BRENT 111.51 +1.52 FOREX $ / Re 45.06 -0.09 £ / Re 72.74 -0.23 € / Re 64.066 0 EVENTS 19 May Cairn Energy Annual General Meeting CSR Conclave "Making Affirmative Action A Reality", PHD House, New Delhi 11th Plan Meet: PM To Meet Environment & Coal Ministry To Devise Strategy For Speedy Clearances Of Coal Blocks 20 May Mamata Banerjee To Be Sworn In As West Bengal Chief Minister The Hindu Board Meet To decide The Succession Plan 20-25 May Manmohan Singh To Attend India Africa Summit In Ethiopia 24 May 2G Scam: Court To Decide On Shahid Balwa's Bail Application EXPERT VIEWS "Strauss-Kahn is obviously not in the position to run the IMF and it is important that the board of the IMF formally put in place for an interim period someone to act as managing director...There's a lot going on in the world... You want the IMF to have the capacity to be helpful." Timothy Geithner U.S. Treasury Secretary "We Indians must recognise, as we have done at Infosys, that we are our own enemies. Our failures are because of our lack of commitment to our cause, our inability to accept meritocracy and our indifference to honesty and want of a good work ethic amongst our leaders." NR Narayana Murthy Founder And Outgoing Chairman, Infosys "I wish to stress here that no matter what changes might take place in the international landscape, China and Pakistan will remain forever good neighbours, good friends, good partners and good brothers." Wen Jiabao Chinese Premier WATCH OUT India Tonight Karan Thapar, India's leading commentator and columnists leads a power packed current affairs show. Focusing on the big story of the day, India Tonight cuts through the clamor and goes beyond the hype to the real story behind the headlines, from all perspectives. SHOW TIMINGS Mon - Thur 10:30 pm