BUSINESS
Ultratech–India Cement deal unlikely to face anti-trust challenges
Legal experts say the merger is unlikely to result in any adverse competition impact in the relevant markets.
BUSINESS
Black money clearance for people leaving India: who is impacted?
Current rules already mandate obtaining such clearance in terms of income tax, wealth tax and gift tax. In the Union Budget 2024, the government has extended its applicability to even black money clearance.
BUSINESS
New real estate tax rules: who gains and who loses?
New real estate tax rules: Of the 20 scenarios analysed by Moneycontrol, taxpayers will face an additional tax burden under the new regime in 14 scenarios, while in 6, homeowners will benefit under the new rules
BUSINESS
Promoters, PEs who sold stake via IPOs face retrospective tax
Many promoters and PEs took a view that the OFS is not subject to capital gains tax. The Government has now issued a clarification with retrospective effect.
BUSINESS
Investors may have to shell out higher taxes for buybacks following Union Budget 2024 proposal
The acquisition cost of these shares will be deemed as capital losses which can be adjusted by the investor in case of any capital gains in the future
BUSINESS
No respite for startups with pending angel tax notices; companies may still face fresh demands
In the Union Budget 2024, the government proposed to abolish angel tax with effect from FY24-25
BUSINESS
Tax cut for foreign companies will benefit only a few, say experts
In Budget 2024, the government proposes to cut the tax rates for foreign firms from 40 percent to 35 percent
BUSINESS
Hospitality firms on the radar: Consumer affairs dept sends notices to Club Mahindra, Country Club and Park Holidays
These notices pertain to alleged non-fulfilment of promises made to members enrolling them. Hidden costs in membership plans are also being investigated by the department.
BUSINESS
ROC’s strict interpretation of beneficial ownership norms puts MNCs in spot
The current industry practice is to identify beneficial owners primarily through economic ownership. But recent MCA orders have left MNCs confused over how to ascertain beneficial ownership through control.
BUSINESS
Explainer: What the apex court stay in the Adani ports land case means for the company
The apex court's order has come as a shot in the arm for APSEZ which is planning a Rs 45,000 crore expansion for the Mundra port.
BUSINESS
Foreign airlines refuse to provide data sought by GST authorities
The DGGI of GST had sought data related to valuation of services provided by the foreign airline to the Indian arms. However, the airlines have told the authorities that they do not maintain such granular data
BUSINESS
Kotak evaluating if Kingdon deliberately misled the lender; call on legal action after evaluation
Kotak is also examining if the declarations made by Kingdon were misleading. Kingdon has claimed that all its trades in Adani group entities were ‘principal trades’
BUSINESS
How Kotak fund provided Kingdon Capital fast-track access to short-sell Adani stocks through a ‘shell’ entity in Mauritius
Instead of taking a fresh licence, which would have taken Kingdon Capital at least a month, Kotak Mahindra Bank’s subsidiary firm offered Kingdon a readymade structure in Mauritius, which was already registered as an FPI with Sebi since March 2022.
BUSINESS
It's advantage Singapore over Cayman Islands as RBI eases investment rules for offshore funds
The RBI has allowed Indians to invest in offshore funds even in jurisdictions where the fund manager is regulated, bringing Singapore on par with jurisdictions such as the Cayman Islands
BUSINESS
Smaller companies to be biggest beneficiaries of GST penalty, interest waiver
In the 53rd GST council meet held on Saturday, the government decided to exempt both penalty and interest provided they pay the principal tax demand by March 31, 2025
BUSINESS
Religare-Burman saga brings forth a key inconsistency in Sebi and RBI rules for takeovers
Under Sebi’s takeover code, the acquirer is obliged to announce an open offer once the 25% shareholding threshold is breached. However, under the RBI norms for acquisition of NBFCs, the target company is obliged to make an application with RBI seeking its nod for change in control.
BUSINESS
Analysis: Mixed signals from regulators confuse derivative traders in India
The surge in trading volumes has sparked concerns among authorities and market participants alike, triggering a debate on how best to address the risks associated with derivatives trading
BUSINESS
Have money. Will travel: Indians splurge $30 billion on foreign trips in last 2 years
Between FY18 and FY21, overseas travel spending ranged from $4 billion to $6 billion annually. It sharply increased in FY22 to $7 billion and $13.6 billion in FY23
BUSINESS
Companies with multiple overseas holding structures face enhanced RBI scrutiny
The list of companies that have received such communication includes one of the largest Information Technology(IT) companies in the country, a group company promoted by one of the country's leading conglomerates, and a well-known fintech company.
BUSINESS
Global HFT bigwigs are taking local route to play Indian derivatives
Experts say a domestic brokerage licence provides the foreign funds with greater flexibility in derivative markets, especially when it comes to taking short positions
BUSINESS
PFC legal advisors green light SP loan against Tata Sons shares
SP Group had initially begun talks with lenders to secure $1.2 billion to refinance a part of its Rs 20,000 crore debt originally maturing in the last week of May
BUSINESS
SAM’s senior partner Iqbal Khan and his team to join JSA
Iqbal is currently a senior partner at SAM and will be National Corporate Lead at JSA. He will further collaborate with the partners at JSA to build and even stronger firm.
BUSINESS
MC Explains: Why SP Group wants to pledge Tata Sons shares and Tata Trusts are concerned?
Disagreements have been brewing between Tata Trusts and SP Group in the last few months over the transferability of shares held by SP Group in Tata Sons
BUSINESS
Investor compensation claims fall as Sebi clamps down on stockbroker frauds
The National Stock Exchange provided compensation worth Rs 52 crore to investors who were defrauded by brokers in FY24, against Rs 129 crore in FY23, Rs 535 crore in FY22 and Rs 552 crore in FY21, official data showed
