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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Agencies
April 17,2025

The Supreme Court on Thursday stayed the operation of certain parts of the contentious Waqf law, including the inclusion of non-Muslims in the Waqf boards and council, till the next date of hearing on May 5. The Chief Justice-led bench also said that the 'waqf by user' provision should not be denotified till then.

The Centre assured the Supreme Court that no appointments would be made to Waqf boards. The new law tweaks the composition of Waqf boards, making it compulsory to include non-Muslims as its members.

"SG (Tushar) Mehta assured that till the next date, no appointment shall take place to board and councils under the 2025 Act. He also assures that the status of waqfs, including waqf by user, already declared by notification or gazetted, shall not be changed," the court said in its order.

The Centre, represented by Solicitor General Tushar Mehta, sought 7-days' time to file a response. The court allowed the petitioners to file their rejoinder within five days after that.

Details awaited.

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News Network
April 14,2025

Tumakuru: Karnataka Home Minister G Parameshwara announced on Sunday that the much-anticipated caste census report will be formally discussed at a special meeting of the state Cabinet scheduled for April 17. The meeting will focus on the findings and recommendations of the report, which has recently been circulated among ministers.

Speaking at Tiptur in Tumakuru district, Parameshwara noted that the caste census was conducted to ensure equitable access to essential services, education, and employment for downtrodden communities.

“The Congress government, between 2013 and 2018, spent crores of rupees to gather caste-based data from 1.37 crore families,” he said. “However, implementation was delayed by successive governments for various reasons.”

He emphasized the need for careful and informed deliberation and urged political leaders to avoid commenting on the report without studying it. “Nearly 80 per cent of the information in the report is accurate,” the Home Minister said, reinforcing the document’s credibility.

The Cabinet’s decision following the April 17 meeting could have far-reaching implications on Karnataka’s reservation policy and social equity framework.

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Agencies
April 24,2025

terrorvictims.jpg

Karnataka Chief Minister Siddaramaiah on Thursday visited the residence of 35-year-old Bharat Bhushan, in Mathikere, Bengaluru, who was shot dead in front of his family by terrorists in Pahalgam and paid his final respects.

Offering condolences on behalf of all Kannadigas to Bharat Bhushan, the Chief Minister said it is extremely unfortunate that a young, well-educated man like him became a victim of a terror strike.

He strongly condemned the attack as a barbaric and inhuman act.

To facilitate the safe return of Kannada-speaking individuals stranded in Kashmir and to bring back the mortal remains of the deceased, Labour Minister Santosh Lad and a team of officials were immediately dispatched. So far, 175 Kannadigas have been safely brought back to the state.

“It is the government’s duty to protect Kannadigas in difficult times,” the CM stated.

The Karnataka government has announced a compensation of Rs 10 lakh each to the families of the Kannadigas who lost their lives in the recent terror attack in Pahalgam, Kashmir, he added.

“It is the government’s responsibility to completely eradicate terrorism. Our government extends full support to the Centre in eliminating terrorist activities in the country,” CM Siddaramaiah said.

“Killing innocent people in broad daylight and in front of their families is a heinous crime. Similar to the past Pulwama and Balakot incidents, this is a recurrence. Intelligence failure at the Central level may have contributed to this incident as well,” he observed.

The Chief Minister has directed officials to make necessary arrangements for conducting the final rites of Manjunath Rao and Bharat Bhushan with police honours.

The victims from Karnataka include Bharat Bhushan, Manjunath Rao, and Madhusudan (who had settled in Bengaluru, hailing from Andhra Pradesh). Minister for Transport Ramalinga Reddy has met Bharat Bhushan’s family in Bengaluru, while Minister for Education Madhu Bangarappa met Manjunath Rao’s family in Shivamogga and assured them of support. 

Regarding the terror attack in Kashmir, the Chief Minister said the Central government has already initiated certain measures, and the state government will extend complete support for further steps aimed at eliminating terrorism.

Bharat Bhushan had gone on a Kashmir trip with his wife, Dr Sujata, a paediatrician, and toddler son.

The family stated that the gang of terrorists approached him and asked his name. When Bharat told them his name without any fear. The terrorists then asked him to hand over his son to his wife, Sujata. Later, they had asked him whether he was a Hindu or a Muslim. When Bharat said he was a Hindu, he was shot dead.

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