Royalty

Clashes erupt at Udaipur Palace: What is the Mewar dynasty dispute?

Newly anointed 77th Maharana of Mewar and BJP MLA Vishvaraj Singh was denied entry to the palace by his uncle, Arvind Singh Mewar, who currently controls the property

SC to set up bench to hear pleas of states on recovery of royalty, tax dues

The Supreme Court on Wednesday said it will set up a bench to hear subsequent pleas of mineral-rich states like Jharkhand seeking to recover royalty and tax dues on mineral rights and mineral-bearing lands worth thousands of crore of rupees from the Centre and mining firms. On July 25, a nine-judge bench headed by Chief Justice D Y Chandrachud, in a majority 8:1 verdict, had ruled that the legislative power to tax mineral rights vests in states and not Parliament. In a subsequent order on August 14, the top court clarified that the judgement will not have prospective effect and permitted mineral-rich states recover from the Centre and mining firms the royalty and tax dues on mineral rights and mineral-bearing lands worth thousands of crore of rupees since April 1, 2005 over a period of 12 years. On Wednesday, senior advocate Rakesh Dwivedi, appearing for Jharkhand, urged the bench comprising the CJI and Justices JB Pardiwala and Manoj Misra to allocate the pleas, relating to recover

Prince Mohammed forged king's sign on Yemen war decree: Ex-official

A former Saudi official alleged in a report that Saudi Arabia's Crown Prince Mohammed bin Salman forged the signature of his father on the royal decree that launched the kingdom's yearslong, stalemated war against Yemen's Houthi rebels. Saudi Arabia did not immediately respond to a request for comment over the allegations made without supporting evidence by Saad al-Jabri in an interview published Monday by the BBC, though the kingdom has described him as a discredited former government official." Al-Jabri, a former Saudi intelligence official who lives in exile in Canada, has been a yearslong dispute with the kingdom as his two children have been imprisoned in case he describes as trying to lure him back to Saudi Arabia. The allegation comes as Prince Mohammed now serves as the de facto leader of Saudi Arabia, often meeting leaders in place of his father, the 88-year-old King Salman. His assertive behaviour, particularly at the start of his ascension to power around the beginning of

Retrospective taxes set to cost mining industry Rs 1.5 trillion in arrears

Nifty Metal index dropped by 2.4%, and key players like NMDC, Hindustan Copper, and JSW Steel saw their shares fall between 2% and 6% following the SC judgment on Wednesday

Refund of mineral royalties could cost Rs 70k-80k crore: Centre to SC

On July 25, a nine-judge constitution bench ruled that the power to tax mineral rights lies with the states and that royalty paid on minerals is not a tax.

Here's how much royalty Tata Group companies will pay for the Tata name

Tata Group companies pay a brand subscription fee for the privilege of using the 'Tata' name. Here is how much they will need to pay now

Nestle India approves hiking royalty payment by 0.15% annually for 5 yrs

FMCG firm Nestle India Ltd on Friday said its board has approved increasing royalty payment to its parent firm by 0.15 per cent annually for the next five years, thereby enhancing it to 5.25 per cent of net sales. The board of directors, on the recommendation of the Audit Committee, approved the payment of general licence fees (royalty) by the company to Societe des Produits Nestle SA (licensor), at the rate not exceeding 5.25 per cent, net of taxes, of the net sales of the products sold by it, Nestle India Ltd said in a regulatory filing. The increase will be as per the terms and conditions of the existing general licence agreements, "payable in a staggered manner over the period of five years by making an increase of 0.15 per cent per annum over the current license fees of 4.5 per cent per annum effective from July 1, 2024", it added. The board has recommended the same for approval by the shareholders of the company through a postal ballot, it said. Earlier, Nestle India, which .

Kate, Princess of Wales, says she has cancer and is undergoing chemotherapy

Kate, the Princess of Wales, said Friday she has cancer and is undergoing chemotherapy. The video announcement came after weeks of speculation spread on social media about her whereabouts and health since she was hospitalized in January for unspecified abdominal surgery. Kate, 42, hadn't been seen publicly since Christmas until video surfaced this week of her with her husband, Prince William, heir to the throne, walking from a farm shop near their Windsor home. Kensington Palace had given little detail about Kate's condition beyond saying it wasn't cancer-related, the surgery was successful and recuperation would keep the princess away from public duties until April. The news is another shock for the royal family since the announcement last month that King Charles III was being treated for an unspecified type of cancer that was caught while undergoing a procedure for a benign enlarged prostate. Charles, 75, has withdrawn from public duties while he has cancer treatment, though he'

Princess Kate apologises for confusion caused by 'manipulated family photo'

Kate, the Princess of Wales, apologised on Monday for confusion caused by her editing of a family photo released by the palace a photo of her with her children that was intended to calm concern and speculation about the princess's health, but had the opposite effect. Five major news agencies, including The Associated Press, withdrew the image over concerns about digital manipulation. That sent the online rumour mill, already filled with speculation over over Kate's recent surgery and recuperation, into overdrive. In a post on social media, Kate said that like many amateur photographers, I do occasionally experiment with editing. I wanted to express my apologies for any confusion the family photograph we shared yesterday caused, the post said. The palace said the photo was taken by Prince William. Issued by Kensington Palace on Sunday to mark Mother's Day in Britain, it was the first official photo of Kate since her abdominal surgery nearly two months ago. Thank you for your kind

Sultan Ibrahim sworn in as Malaysia's 17th king as Royals gain influence

The billionaire sultan who rules Malaysia's Johor state was sworn in as the nation's new king Wednesday under a unique rotating monarchy system. Sultan Ibrahim Iskandar, 65, took his oath of office at the palace and signed the instrument of the proclamation of office in a ceremony witnessed by other royal families, Prime Minister Anwar Ibrahim and Cabinet members. A coronation ceremony will be held later. One of the richest men in the country, Sultan Ibrahim has an extensive business empire ranging from real estate to telecoms and power plants. The candid monarch has close ties with Anwar and his rule could bolster Anwar's unity government, which faces a strong Islamic opposition. Nine ethnic Malay state rulers have taken turns as king for five-year terms under the world's only such system since Malaysia gained independence from Britain in 1957. Malaysia has 13 states but only nine have royal families, some that trace their roots to centuries-old Malay kingdoms that were independent

Cabinet approves royalty rates for mining of Lithium, Niobium REE

To ensure consistency, the Ministry of Mines has devised a formula for calculating the ASP of these minerals, which will aid in setting bidding parameters

STT hike to GST appellate tribunal: Key takeaways from Finance Bill 2023

Finance Bill 2023: Debt funds with less than or equal to 35 per cent invested in equity shares will be taxed at the investors' income tax slab and treated as short-term capital gains

Unilever's India unit falls as royalty fee rise overshadows profit beat

Shares of Hindustan Unilever (HUL) fell as much as 4.3% on Friday, as a deal to pay its UK parent higher royalty fees took the shine off a bigger-than-expected rise in quarterly profit

HUL Q3 results: Net profit beats estimates, royalty to parent bumped up

FMCG major cautiously optimistic on commodity prices, sees rural slowdown bottoming out

Hike in royalty payout to parent could weigh on Hindustan Unilever margins

Analysts say impact depends on commodity and energy prices

HUL board approves hiking royalty to parent from 2.65% to 3.45% of turnover

HUL said the new contract terms were subject to a detailed evaluation and due diligence led by its senior management and guided by its Audit Committee and Board

King Charles III addresses UK for first time from Buckingham Palace

We owe her the most heartfelt debt any family could owe to their mother, said King Charles III on Queen Elizabeth II's death

Coal ministry slashes interest on late payment of royalty and rent

The government has reduced the rate of interest levied on delayed payment of royalty, rent and fee from coal mines, a move that would give a fillip to ease of doing business. The coal ministry has amended the Mineral Concession Rules, 1960 (MCR) aimed at decriminalising its provisions. The Centre has been taking action in a bid to reduce compliances for business and citizens, the coal ministry said in a statement. "To further promote and boost the 'Ease of doing business' policy of the government, the amendment in MCR decriminalised 68 provisions whereas penalty has been reduced for 10 provisions of MCR," it said. MCR relates to the application and grant of mineral concessions such as reconnaissance permit, prospecting license, and mining lease. These concessions are pre-condition for development and operationalisation of mines, necessitating many compliances. For adjusting additional or shortfall royalty, express provision has been brought in. "Further, rate of penal interest

In shadow of Covid-19 pandemic, Danish queen marks 50 years on throne

The outbreak, which also stopped public celebrations for the popular monarch's 80th birthday in 2020, forced several guests to stay away from the two-day celebrations

Samsung to share more royalty-free technologies with smaller firms

Samsung Electronics will allow smaller local companies to use more of its royalty-free technologies as part of its efforts to attain shared growth, according to the industry ministry on Friday