Trump vows to stop China from taking south sea islands

The new US  administration of president Donald Trump
vowed on Monday the United States would prevent
China from taking over territory in international waters in the South China Sea something Chines state media has warned would require Washington to 'wage war'.

The comments of briefing from White House spokema
Sean Spicer signalled a sharp departure  cautious U S
handling of China's assertive pursuit territorial claim in Asia, just day after Trump took office on Friday.

The US is going to make sure that we protect our interest there. "Spicer said when asked if trump agreed
with comments by his secretory of state nominee "Rex
Tillerson. On January 11, Tillerson China should not be allowed access to islands, it has built to the contested
South China Sea.

lt's is a question of those islands are in fact in international waters and not part of China proper, then yeah we are going to make sure that defend international territories from being taken over by one country." he said.

Mistry loses agin as NCIT dismisses plea

The national company Tribunal ( NCLT ) dismissed contempt petition filed by two Cyrus Mistry family companies against Tata Sons and its directors, alleging violation of NCLT of directives in taking steps to remove
him from the board in TaTa Sons.

The Bench,  however, gave liberty to the Mistry family companies to file an affidavit within thr days on the issue of Tata Sons holding extraordinary general meeting ( EGM ) on February 6.

Pronouncing the operative part of the order, a division bench ( NCLT ) said "The contempt petition.is dismissed." The Bench was of the view that the action of Tata Sons  did not amount to contempt of court. In their petition, Cyrus investors and sterling investment  had also sought injection against the Tata Sons barring
them from "convening or holding of the EGM scheduled
for February 6.2017 or any other date or from transacting any business threat".

With Swan Energy, Tatas seek foothold in LNG infra

Tax breather for foreign investors

The circular gave rise to fears that there there would be
'triple taxation' on the activities of the India - focused
funds  overseas. The circular implied that India dedicated funds would be taxed if they sell shares
overseas.

Besides overseas individual investor of the fund would also be taxed in India and would not get any tax credit
in his home country. The direct taxation avoidance
agreement ( DTAA) also does not come to the rescue of
investors.

The tax arises when Indian assets of the fund constitute fifty % of the total asset value of funds globally or Rs. 10 crore. However those having less than 5 % of fund shares exempted  from the tax.