The SC has gone a step further to state that even if one were to not apply the codified GAAR provisions, the judicial GAAR would continue to apply, point out Pranav Sayta and Bhargav Selarka.
The Supreme Court's verdict directing Tiger Global to pay capital gains tax on its 2018 sale of Flipkart shares is unlikely to accelerate the selloff by foreign portfolio investors (FPIs). However, legal and tax experts say the ruling sharpens scrutiny around treaty benefits and could influence how offshore investors structure future India bets.
Tiger Global Management, a New York-based investment company with close to $2 billion in assets under management, has shut its direct operations in India.
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
The investor has now put together a fund of $3.75 billion to back private companies.
The Bansals losing out operational control of Flipkart comes at a time when global rival Amazon, in which Tiger Global holds a minority stake, is stepping up investment in India in an attempt to overtake the Bengaluru-based e-commerce firm.
Taxing SoftBank, the largest shareholder in Flipkart with a little over 20 per cent stake, however, will be easier.
'Mark had such a profound understanding of India, which was, of course, the land of his birth as well as of his death... He loved India, and lived two-thirds of his life here.'
Shares of Billionbrains Garage Ventures, the parent of online broking platform Groww, soared nearly 30 per cent on their market debut on Wednesday, defying the recent trend of muted listings. The stock opened at Rs 112 and hit a high of Rs 134.4 before settling at Rs 128.85 on the NSE - a gain of 28.85 per cent over its issue price of Rs 100.
'More and more people from the middle class will become self-employed gig workers mostly working from home, rather than as office workers with salary, promotion, bonuses, etc.'
'When AI comes in, coders in Bangalore or Hyderabad will lose their jobs.'
The fierce battles of Galwan, Rezang La, Gurung Hill, and Walong taught the PLA a hard lesson: Fighting the Indian Army would never be easy or inexpensive.
Thapar had strong reservations about Project Cheetah, India's initiative to reintroduce African cheetahs into the wild. He argued that India does not have the necessary habitat or prey base to support free-ranging cheetahs and that the authorities lacked experience in managing spotted felines in the wild.
Digital payments provider PhonePe has filed draft papers with markets regulator Sebi for its upcoming initial public offering (IPO) using the confidential pre-filing route. On Wednesday, the company's spokesperson said, "PhonePe Ltd has filed the Pre-filed Draft Red Herring Prospectus with Sebi and the stock exchanges, under...the Sebi ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges".
'Where rostering systems are automated and duty time software interfaces directly with DGCA, the assertion that they suddenly discovered crew shortages is simply implausible.' 'If adequate crew planning hasn't materialised within 12 to 24 months from inception, how will 45 days -- from December 5 to February 12 -- suddenly resolve matters?'
Dr Sonali Ghosh, the first woman to head the Kaziranga National Park and the first Indian to win the IUCN's Kenton Miller Award, has turned her childhood love for nature into an inspiring career in wildlife protection and leadership.
The new round values the company at $2.5 billion, more than double the over $1 billion valuation Dream 11 enjoyed in April 2019 when it was declared the country's first gaming unicorn.
Notably, four portfolio companies-- Agnikul, ePlane, CynLr, and GalaxEye -- of deep-tech investor Speciale Invest made it to the list.
With a 50 per cent increase in the last four years, Madhya Pradesh has the maximum number (785) of tigers in the country, followed by Karnataka (563), Uttarakhand (560), and Maharashtra (444), according to the data.
Trump may temper his approach from time to time, but to think that he will change his basic philosophy is delusional, asserts T T Ram Mohan.
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
Leaders who built and manage these incredible global companies cannot be tyrants, slave-drivers, or idiots. Essentially what they are saying falls under the definition of rallying the troops, inspirational talk, like the usual coach-speak with the team before a match, asserts Shekhar Gupta.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Sunil Chhetri's return from international retirement at 40 highlights the lack of quality strikers in Indian football.
Myntra founder Mukesh Bansal takes over as marketing chief.
Byju's has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India.
Venture capital (VC) and private equity (PE) funding for Indian startups in the artificial intelligence sector has seen a dramatic decrease with deal sizes shrinking, notwithstanding the buzz around the country's potential as a major AI hub. Data from research agency Traxcn, which tracks PE/VC investments, shows that total funding for AI startups in India, which started with a bang in 2022 at $599 million, dropped sharply in 2023 to $168.4 million - a decrease of over 71 per cent.
The company has said the funds raised will be used to invest in product development and expansion of its fast-growing mobile business.
Akhilesh Reddy, Chairman and Managing Director of Racing Promotions Pvt Ltd (RPPL), welcomed Ganguly to the racing fold.
Global brokerage firm CLSA has reversed its early tactical shift from Indian equities to Chinese stocks, and has decided to raise India allocation while cutting exposure to China. In its report titled 'Pouncing Tiger, Prevaricating Dragon', CLSA cited challenges facing Chinese markets in the aftermath of Donald Trump's victory in the US elections as the reason for the move. "Misfortune can happen in threes. So it has played out for Chinese equities over the past week.
The Union Environment Minister Prakash Javadekar said India is proud of its achievements and despite the scarcity of land and rainfall, it boasts of eight per cent of the world's biodiversity.
India's two-wheeler giant, the Hero Group, has signed American golf legend Tiger Woods as its brand ambassador in a four-year deal that targets capturing new markets in North America and Europe.
With debt woes and a legal case in the US courts, educational technology (edtech) giant Byju's is expected to be laying off more employees, according to media reports. According to The Morning Context report, Byju's intends to lay off 1,000 employees. This number, however, could not be confirmed by Business Standard independently. A spokesperson for the company declined to comment on the reports.
Flipkart, the poster boy of Indian e-commerce, hit a new high by raising $1 billion (about Rs 6,000 crore) in the latest funding round, led by existing investors Tiger Global Management and Naspers.
Walmart is likely to buy stakes of multiple Flipkart investors, including that of Tiger Global Management and Softbank to end up with a significant majority holding
Flipkart's appointment of Kalyan Krishnamurthy as CEO and Ola's choice of PepsiCo's Vishal Kaul for COO speaks to the growing trend of bringing in experienced professionals to run business. Karan Choudhury reports.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
Foreign investment in India's start-ups has plummeted 72 per cent to $4.58 billion so far, from $16.2 billion during the same period last year.
India's tactical and operational response demonstrated its ability to prosecute tri-service operations, even without a formal tri-service doctrine or the higher command structure needed to coordinate it, points out Ajai Shukla.
The IPO will be sometime in the first half of next year.
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