Tax Tangle

Employees of Indian software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012. REUTERS/Vivek Prakash/Files

Infosys to challenge new tax demand

Infosys Ltd, India's No. 2 software services exporter, said on Monday it would challenge a 5.77 billion rupees income tax demand raised by Indian authorities earlier this month.  Full Article 

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Supreme Court rejects Sahara's review plea

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Commuters walk past a billboard advertising the Sahara News Network, along a road in Noida on the outskirts of New Delhi September 20, 2012. REUTERS/Mansi Thapliyal/Files

Commuters walk past a billboard advertising the Sahara News Network, along a road in Noida on the outskirts of New Delhi September 20, 2012.

Credit: Reuters/Mansi Thapliyal/Files

NEW DELHI | Wed Jan 9, 2013 7:22pm IST

NEW DELHI (Reuters) - The Supreme Court of India has rejected an appeal by the Sahara conglomerate seeking a review of the court's order last year to repay billions of dollars it raised from small investors by selling outlawed bonds, according to an order posted on the court's website.

A spokesman for Sahara, one of India's biggest business groups and a household name through its sponsorship of the national cricket team, was not immediately available for a comment.

(Also read: Sahara - massive, splashy ... and mysterious, click here)

(Reporting by Devidutta Tripathy; Editing by Mark Potter)
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