Finance Minister announced
to roll back so-called draconian measure to implement provisions of GAAR
(general anti avoidance rules) during the discussion in parliament on Finance
Bill, 2012, on 7th May 2012. This came as a big relief for the market
participants and especially p-notes and FIIs investing/trading on Indian
exchanges via Mauritius. Markets recovered from more than 300 points losses on
this announcements on Monday, however declined...
