The Central Board of Direct Taxes notified the final rules for settlement of retrospective cases after incorporating certain changes following comments from stakeholders on draft rules, issued on August 28.
Ritesh Agarwal’s pioneering hotel aggregation venture, Oyo Hotels & Homes, has filed for an IPO to raise Rs 8,430 crore ($1.2 billion) in the Indian markets. Oyo joins a slew of startups in tapping the public market. Zomato had a successful Indian IPO in July, and Freshworks an equally successful one in the US last month. Nykaa, Paytm, and Policybazaar are others expected to list soon.
Paras Defence & Space Technologies, the company whose IPO was subscribed over 300 times to create a new record for India’s capital market, was listed on Friday and the price went up nearly three times its IPO price of Rs 175. On the BSE, the stock was listed at Rs 475, rallied and closed at Rs 499, which was also the day’s high for it. The stellar listing also made Paras Defence as one of the most successful offers in recent times.
A day after the government jacked up by 62 per cent the price of natural gas produced from domestic fields, given to companies in the pre-bidding era, Indraprastha Gas Ltd (IGL) on Friday raised CNG prices by Rs 2.28 per kg and PNG rates by Rs 2.55 per unit, marking one of the steepest increases since 2012.
Rating agency Icra's chief economist Aditi Nayar on Friday forecast a 4.7 per cent decline in gross issuances of state development loans (SDL) at Rs 7.6 lakh crore. She expects the borrowing to be just Rs 2 lakh crore in Q3 and Rs 2.5 lakh crore in Q4.
The two countries have agreed to have an interim or early harvest trade agreement by Christmas and final free trade agreement or Comprehensive Economic Cooperation Agreement (CECA) by the end of 2022.
"One big change that the IBC has brought is that it has ended feudalism of the promoters in a capitalistic society. There is absolutely no space for feudalism in an economic society which is actually based on freedom," he said at the 5th annual day of the Insolvency & Bankruptcy Board of India (IBBI).
Piyush Goyal inaugurated the India Pavilion at Expo 2020 Dubai, which showcases India's vibrant culture, along with the diverse partnership opportunities that the country is capable of offering. He said the entire world is looking towards India as a trusted partner.