Hinduja Group's business process management entity, Hinduja Global Solutions Limited (HGS) said on Wednesday that it has entered into definitive agreements to divest its Healthcare Services business to funds affiliated with Baring Private Equity Asia (BPEA), at an enterprise value of $1.2 bilion. The deal is subject to closing adjustments, and is expected to complete within 90 days, subject to shareholder and other regulatory approvals. "The cash that will come in as a result of this transaction will be deployed to growing the business as well as looking at buying some capabilities...where capabilities are important for being able to do a good job of customer experience transformation.
The court ruled that an interim debt order in favour of SBI and other banks seeking access to funds in the Mallya's ICICI UK bank account "should remain in force" but the application to make it final should be adjourned until after the hearing of his pending bankruptcy petition.
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
Cash withdrawal limits likely to continue
A bunch of CEOs in their mid-30s and early 40s are trying to rectify the scenario where shady lending applications trap hapless borrowers with astronomically high interest rates and even bodily harm if the money was repaid. Anup Roy reports.
Education topped the table with nearly $1.755 billion as against $379 million last year, followed by real estate which received $754 million.
'You cannot start an MSME again.' 'It is not like a Yes Bank that someone comes and saves the bank.' Once the shutter is down for an MSME, nobody will come to its rescue.'
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
The Governor said the MPC had voted to maintain its accommodative stance, implying more rate cuts in the future if the need arises.
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
A direction by Chief Justice of India S A Bobde, Justice B R Gavai, and Justice Surya Kant to the Karnataka high court asked the latter to expeditiously settle the matter of assets deposited before it by Mallya for liquidation, and thereby payment to creditors 'preferably not later than three months'. It will be interesting to see the view of the London high court, if the settlement of his dues to Indian creditors is imminent, reports Ashis Ray.
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
'Market feels this Budget will promote all-round growth and that is what is giving it confidence.'
The Supreme Court on Wednesday said the Centre should implement "as soon as possible" the interest waiver on loans of up to Rs 2 crore under the RBI's moratorium scheme in view of the Covid-19 pandemic, saying the common man's Diwali is in the government's hands.
Employees of Kingfisher Airlines who have not been paid salaries for the past 17 months on Thursday threatened to launch an indefinite hunger strike from Monday demanding stringent action against the defaulting company.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
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HC restrains Nokia from selling, transferring ownership rights in India.
Under the scheme coming into effect from April 1, 2018, a donor could purchase bonds from authorised banks against cheques or digital payments. These would be redeemed only in the designated account of a registered political party.
Prime Minister Narendra Modi on Friday said the Centre has transferred around Rs 1,35,000 crore so far under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme with the payment of eighth instalment on Friday and is also procuring higher quantity of paddy and wheat at minimum support price to boost farmers' income.
Jaitley said note ban has compelled people to deposit money into bank accounts.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
The non-oil, non-finance sector of the economy is under severe stress.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
'The government believes there is still significant scope to bring more people under the tax net and collect the right amount of taxes, in cases where taxpayers are underpaying,' says Kuldip Kumar, partner and leader personal tax, PwC.
Budget should raise revenues & reduce spending to increase capital expenditure.
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
'The government says the mortality rate among patients is 2 to 3 per cent, but in doctors it is 11 per cent, which is very high.'
Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.
US President Barack Obama on Sunday affirmed his commitment to enhancing India's 'voice and vote' in global financial institutions like IMF.
Shareholder advisory companies are raising eyebrows at the ICICI Bank board not being aware of Firstland's investment in NuPower
Do you know what kind of currency notes are illegal?
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The I-T department issued a circular allowing manual filing of Form 15CA/15CB (required for foreign remittances) with banks till June 30, so that business transactions may go on. The forms will be uploaded online on the e-filing portal later, it added.
SBI chairman Rajnish Kumar said Naresh Goyal would be eligible to bid for the airline when the lenders auction it next month.
'When an institution believes its knowledge and capability is superior to everyone, it behaves like a frog in the well.' 'And this is precisely the cause for the mess,' says J N Gupta.
"The theme of tomorrow's meeting is 'Economic Policy Reform, Road Ahead'. The prime minister will make opening remarks. There are 15 invitees who will make their presentations before the prime minister," a senior government official said.
