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War over ice cream: 3-decade old feud returns

Mumbai: A three-decade-old family settlement that divided control of the Vadilal ice cream brand between the Mumbai and Ahmedabad branches of the Gandhi family has become the subject of a fresh legal dispute.The Mumbai branch has approached the Bombay High Court, seeking to restrain the Ahmedabad branch from interfering with the manufacture, sale, distribution and marketing of ice-creams and juices that it claims it is entitled to sell under the 1993 family settlement. 132024297In a petition filed under Section 9 of the Arbitration and Conciliation Act, Shailesh Gandhi-led Vadilal Dairy International (VDIL) has sought interim relief restraining members of the Ahmedabad branch, Vadilal Industries and their affiliates from directly or indirectly interfering with its manufacture, sale, distribution and marketing of ice-creams and juices under the Vadilal brand.Justice Amit Borkar reserved the order on Wednesday after hearing all parties.Senior advocate Mustafa Doctor, appearing for the...
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Why the matinee remains cinema's quiet pleasure

from Economic Times https://ift.tt/k8ixWJ9
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Senior IPS officer Mahesh Dixit appointed IB chief

from Economic Times https://ift.tt/JLd150O
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India, US closer to interim trade pact

New Delhi: India and the US inched closer to an interim trade deal with New Delhi announcing Wednesday that significant headway has been reached during discussions on pathways to conclude the pact.Earlier in the day, commerce and industry minister Piyush Goyal and US trade representative Jamieson Greer concluded two days of negotiations aimed at finalising the first phase of a bilateral trade agreement (BTA).Also Read: India, US move closer to interim trade deal after Goyal-Greer talks"Both sides noted substantial progress by negotiating teams in recent months and welcomed the momentum from successive technical and ministerial-level engagements," the commerce and industry ministry said in a statement. "Discussions focused on pathways to conclude an interim agreement as an important milestone toward a comprehensive BTA," said the ministry, which termed the latest talks as a "key step" towards a deal.Goyal and Greer reaffirmed their commitment to a trade pac...
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Shopify's vape ban could shake up a $9 bn market

from Economic Times https://ift.tt/pMfHuVx
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Taxman to track slipping sectors, top taxpayers

New Delhi: The Central Board of Direct Taxes (CBDT) has directed its zonal income tax heads to keep a close watch on the sectors which recorded a decline in tax payments in the first quarter of this financial year as well as top advance tax payees, along with identifying any incorrect exemptions or deductions, sharpening its focus on risk assessment, sectoral monitoring and taxpayer outreach to bolster revenue collection in the coming quarter.The communication, dated June 16, a copy of which was seen by ET, also mandated each zone to submit a report to the Directorate of Tax Research and Analysis by July 31."The idea is to identify risks early, engage with large taxpayers proactively and ensure that tax payments are aligned with actual income trends," said a senior official, who did not wish to be identified.Direct tax collection increased more than 15% year-on-year in the first quarter despite the disruption caused by the West Asia crisis. Direct tax collection, net of refun...
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Basmati prices may fall 5–10% on export hit

Kolkata: Iran's announcement of closing the Strait of Hormuz to shipping is expected to impact both the basmati rice and tea exports from India. Basmati rice exporters fear prices could decline 5-10% as shipments to West Asia face disruptions."After the interim (US-Iran) peace deal was announced, exporters started buying basmati rice in good quantities for shipment to the Middle East and prices surged 15-20%. But this sudden announcement will bring down prices," said Dev Garg, vice-president, Indian Rice Exporters Federation.Also Read: Nearly 12 ships carrying fertiliser cross Strait of HormuzNearly 60,000 tonnes of basmati rice destined for West Asian markets is currently in transit.Five of the leading destinations for Indian basmati rice are in West Asia - Saudi Arabia, Iran, Iraq, the UAE and Yemen. Together, they account for about 50% of India's total basmati rice exports and are among the markets most directly affected by the disruption. India produces about 7.2 ...
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