India business news headlines 25th February 2019
Here’s a roundup of all the India business news that created the buzz in India today:
- SBI is reportedly considering to approach NCLT to recover its loan from Jet Airways.
- GST Council has slashed tax rates for under-construction flats to 5% and affordable homes to 1%.
- The govt will regulate domestic e-comm players only after a new policy has been put in place to help create a level-play with companies having overseas investors like Flipkart and Amazon.
- Sebi has ordered impounding of alleged illegal gains worth around Rs.1.02 Crore from the promoters of ADF Foods Bhavesh Thakkar and Priyanka Thakkar as also from four others in an insider trading case.
- As per ASSOCHAM, the air purifier market may touch $38.99 million in 2023 from the current $14.14 million.
- Suresh Prabhu, the Commerce and Industry Minister, has said that the government is working on a plan to increase FDI inflows in India to $100 billion.
- Embassy Office Parks is set to list India’s first ever Real Estate Investment Trust soon as it’s close to raising Rs.5000 Crores by diluting 20% stake at a valuation of $5 billion.
More India business news headlines 25th February 2019
- Jet Airways pilots’ union has warned of ‘non-cooperation’ from 1st March over non-payment of dues.
- India has refused to join e-commerce talks at WTO. The government believes that the push for initiating negotiations on substantive obligations related to e-comm will oblige India to permanently accept the current moratorium on imposing customs duties.
- KKR has offered Rs.3,100 crores to buy the stake held by V.G. Siddhartha and his two firms in Mindtree.
- GVK Airport Holdings has acquired a 13.5% stake of Bid Services Division (Mauritius) in Mumbai International Airport.
- Biotech Vision is in talks with PE funds to raise around Rs.120 crores by selling a minority stake.
- RIL is preparing to go public with Reliance Retail soon. Reliance Retail operates more than 9900 stores in over 6400 cities across India.
- Fortis case – Fortis Healthcare has asked Sebi to invoke Section 28A to arrest former promoters. Sebi’s probes had found that the money was transferred to entities related to the former promoters.
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