NRIs can open one-person companies in India

News Network
February 1, 2021

New Delhi, Feb 1: Indian Finance Minister Nirmala Sitharaman brought cheer to Indian entrepreneurs with a bold move to permit one-person companies.

In a major boost for Indian expats (NRI) investments in India, there is no restriction on paid up capital and turnover to incentivise incorporation of one-person companies in their home country.

Bal Krishen, chairman of Century Financial, said: “The move, which allows NRIs to incorporate one-person companies in India, will also reduce residency limit from current stipulation of 182 days to 120.”

The move is especially likely to benefit the Indian real estate sector, which typically attracts lots of investment and interest from expats residing in the Gulf.

"For FY 2021, total investments by India expat population in real estate sector is expected to exceed $13.1 billion, a five per cent year-on-year growth.

"Recent price correction in certain pockets of India real estate clusters coupled with the new budget moves would likely act as huge trigger for fresh impetus to this sector. Furthermore, more and more expat investors are likely to use this opportunity for investing even in smaller amounts at the start," said Krishen.

Dhaval Jasani, Founder and CEO at ZTI, said the move will invite more talent back to India.

"One-person companies will enable entrepreneurs to establish and market their own developments rather than partnering with bigger companies.”

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News Network
May 4,2024

New Delhi: Congress leader Rahul Gandhi has written to Karnataka Chief Minister Siddaramaiah, urging him to extend all possible help to the victims of JD(S) leader Prajwal Revanna's alleged sexual abuse.

In a letter to Siddaramaiah, Gandhi condemned the actions of Revanna, an MP from Hassan in Karnataka, and accused him of enjoying immunity with the blessings of Prime Minister Narendra Modi and Union Home Minister Amit Shah.

In a veiled attack on Modi, the Congress leader said he has never come across a senior public representative who has constantly chosen silence in the face of untold violence against women.

"I request you to kindly extend all possible support to the victims," Gandhi said in his letter to the Karnataka chief minister.

"They deserve our compassion and solidarity as they fight their battle for justice. We have a collective duty to ensure that all parties responsible for these heinous crimes are brought to book," he added.

Describing the incidents as "horrific sexual violence" unleashed by the incumbent Member of Parliament, Gandhi alleged that Revanna sexually assaulted and filmed hundreds of women over several years.

"Many who looked up to him as a brother and son were brutalised in the most violent manner and robbed of their dignity. The rape of our mothers and sisters warrants the strictest possible punishment."

"I am deeply shocked to learn that as far back as December 2023, our Home Minister Shri Amit Shah was informed by Shri G Devaraje Gowda about Prajwal Revanna's antecedents, especially his history of sexual violence and the presence of videos filmed by the perpetrator," the former Congress chief said.

He said what is even more shocking is that despite these gruesome allegations being brought to the notice of the seniormost leadership of the ruling Bharatiya Janata Party (BJP) at the Centre, Modi campaigned and canvassed for a "mass rapist".

"Furthermore, the Union government wilfully allowed him to flee India to derail any meaningful investigation. The deeply perverse nature of these crimes and the absolute immunity enjoyed by Prajwal Revanna with the blessings of the Prime Minister and Home Minister deserves the strongest condemnation," Gandhi said.

"In my two decades in public life, I have never come across a senior public representative who has constantly chosen silence in the face of untold violence against women. From our wrestlers in Haryana to our sisters in Manipur, Indian women are bearing the brunt of the Prime Minister's tacit support for such criminals," he alleged.

In this backdrop, Gandhi said the Congress has a moral duty to fight for justice for "our mothers and sisters".

"I understand that the Karnataka government has constituted a Special Investigation Team (SIT) to investigate the grave allegations, and a request has been made to the Prime Minister to cancel Prajwal Revanna's diplomatic passport and get him extradited to India at the earliest," he said.

H D Revanna, the Janata Dal (Secular) MLA from Holenarasipura in Karnataka's Hassan district, is the son of former prime minister and JD(S) patriarch H D Deve Gowda and elder brother of former chief minister H D Kumaraswamy. He is facing allegations of sexually abusing women.

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News Network
May 8,2024

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Congress leader Sam Pitroda has stepped down from the post of Chairman of the Indian Overseas Congress and his resignation was accepted by the party. Congress leader Jairam Ramesh took to X and announced that Sam Pitroda had decided to resign from the key post "of his own accord".

Pitroda had been under fire over his controversial remark that Indians in the East resemble the Chinese while those in the South look like Africans.

"We could hold together a country as diverse as India -- where people on East look like Chinese, people on West look like Arab, people on North look like maybe White and people in South look like Africans. It doesn't matter. We are all brothers and sisters," Pitroda said during an interview with The Statesman.

The Congress immediately distanced itself from Pitroda's remarks, terming them "unacceptable".

"The analogies drawn by Mr Sam Pitroda in a podcast to illustrate India's diversity are most unfortunate and unacceptable. The Indian National Congress completely dissociates itself from these analogies," Jairam Ramesh said in a post on X.

The BJP also hit out at the Congress over Pitroda's remarks and termed them "racist and divisive".

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News Network
May 12,2024

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Israeli military tanks have started to go deeper into the Jabalia refugee camp in northern Gaza as part of a ground offensive months after claiming Hamas had been “dismantled” in the area.

Israeli forces are “carpet-bombing” the eastern areas of Jabalia refugee camp in the northern Gaza Strip, killing and wounding several Palestinians, Al-Jazeara reported citing local sources on Sunday.

Israeli military tanks have advanced further into the Jabalia refugee camp, crossing Salah al-Din Street amidst ongoing battles with Hamas fighters, reports added.

Media quoted eyewitnesses as saying that the tanks are surrounding evacuation centers and residential buildings in the densely populated area, leading to mass evacuations and displacement towards the western part of Gaza City.

Also, Israeli drones targeted ambulances near the clinic run by the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) in Jabalia, according to Mahmoud Basal, the spokesperson for the civil defense directorate in Gaza.

Basal stated that emergency crews in Rafah, al-Zaytounm, al-Sabra, and Jabalia have been inundated with distress calls, confirming that these areas were subjected to overnight bombardment.

Shortage of oxygen for patients

Imad Abu Zayda, an emergency doctor in Jabalia, warned of the critical conditions prevailing there due to the recent Israeli aggression in the area.  

“No light due to the lack of fuel and there’s no medical supplement available as Israel has expanded their operation in the area. We have no oxygen to give to patients,” he said.

He added that the majority of those injured are children and women, and the medical team is grappling with limited resources to provide essential care.

All hospitals in the northern Gaza Strip are now out of service, following a warning from the UN about the risk of running out of fuel in hospitals across the region.

Israel’s closure of the Rafah crossing has also prevented aid trucks from entering the area since May 5.

The Jabalia refugee camp, established in 1948 to accommodate Palestinians who were displaced after the Nakba, or catastrophe, which refers to the ethnic cleansing of Palestine in 1948, has become the most densely populated refugee camp in the Gaza Strip.

With over 750,000 Palestinians forcefully displaced, this camp stands as a testament to the birth of Israel in 1948.

Since the start of the Israeli war on the Gaza Strip on October 7, Israeli forces carried out several attacks on Jabilia camp, leaving it in ruins by intense bombardment.

In early February, Israeli forces withdrew from the camp claiming it had destroyed Hamas as a fighting force in the northern areas.

On Saturday, the Israeli military ordered residents of the Jabalia Refugee Camp to evacuate “immediately”, as it prepares to launch military operations against Hamas.

However, the displaced residents have no place to seek refuge, as the UN reports a severe famine in the region.

Since the start of the offensive, the Tel Aviv regime has killed more than 34,971 Palestinians and injured more than 78,641 others, mostly women and children.

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