OYO’s Ritesh Agarwal to buy back shares worth $2 bn from early investors

OYO’s Ritesh Agarwal to buy back shares worth $2 bn from early investors

New Delhi, Jul 19: Hospitality firm OYO on Friday said its founder Ritesh Agarwal has signed a deal to buy back shares worth $2 billion (nearly Rs 13,770 crore) from early investors through his Cayman islands-registered entity, RA Hospitality Holdings. Lightspeed Venture Partners and Sequoia India, OYO’s early supporters, are selling part of their holdings […]

Govt merges CTDP with Board of Trade

New Delhi, Jul 18: The government has merged the Council of Trade Development and Promotion with the Board of Trade to bring greater coherence in consultation process with all stakeholders for promoting exports and imports. According to a notification of the directorate general of foreign trade (DGFT), the new forum will remain as Board of […]

Seven indirect taxation-related laws being amended: Sitharaman

Seven indirect taxation-related laws being amended: Sitharaman

New Delhi, Jul 18: Finance minister Nirmala Sitharaman on Thursday said seven legislations under indirect taxation are being amended to ensure greater simplicity, as she moved the Finance Bill in the Lok Sabha. She told the Lower House that amendments to laws are being made through the Finance Bill in five major categories, including in […]

LTCG makes filing Income Tax returns tough

LTCG makes filing Income Tax returns tough

  Mumbai, Jul 18: A recent update in the software utility that enables taxpayers to file their returns online has created hurdles for taxpayers who have earned long-term capital gains (LTCGs) on sale of securities. Extension of the date for issue of Form 16 from June 15 to July 10 meant that salaried taxpayers could […]

Govt plans 7 changes in insolvency code for easier resolutions

Govt plans 7 changes in insolvency code for easier resolutions

New Delhi, Jul 18: The government proposed seven amendments to the three-year-old Insolvency and Bankruptcy Code (IBC) to provide easier voting rules for resolution of vexed cases such as Jaypee Infratech, apart from prescribing a 330-day deadline for the process, including litigation and other judicial proceedings. The surprise moves are part of the IBC (Amendment) […]

India’s electronics production on accelerated path: Prasad

India’s electronics production on accelerated path: Prasad

New Delhi, Jul 18: India’s electronics production is estimated at Rs 4.58 lakh crore in 2018-19, which despite accelerated growth in recent years, still represents only 3.3 per cent share of the global market, Parliament was informed Thursday. The domestic electronics hardware manufacturing sector faces lack of level-playing field against competing nations on account of […]