India business news headlines 7th March 2019

India business news headlines 7th March 2019

  • The government has doubled the income tax exemption limit on gratuity to Rs.20 Lakh.
  • Directorate General of Anti Profiteering has found that Abbott Healthcare did not pass on the GST benefits to customers to the tune of Rs.96.59 Lakhs.

India business news headlines 7th March 2019

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  • Zinier, a field service automation solutions provider, has raised around Rs.154 Crores in a series B round of funding from Accel, Founders Fund, NGP Capital and others.
  • Jet Airways officers and employees association has accused it of removing workers clandestinely citing operations reasons. Around 250 officers and employees held a protest at the airlines HO.
  • Grasim Industries has entered into a definitive agreement to acquire 100% stake of Soktas India for Rs.165 crores. The acquisition is part of Grasim’s business strategy to strengthen its presence in the premium fabric market.
  • True North is seeking more investment opportunities in the life and general insurance sectors. The PE firm bought a controlling stake in Max Bupa last week.
  • Qiming Venture Partners, a Chinese venture capital firm, is reportedly set to lead a $15-20 million Series B round of funding in Pratilipi.

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  • CBDT has said that the relief for startups facing tax demands for selling shares at a premium to their fair market value will be effective from the 19 February 2019.
  • Mukesh Ambani led Reliance Industries may reportedly make its e-commerce debut with Diwali.
  • ICICI-Videocon loan case – The Enforcement Directorate has reportedly so far established that Chanda Kochhar and her family received Rs.500 crores as kickbacks.
  • Dentsu Aegis Network has elevated its current chairman and CEO – South Asia, Ashish Bhasin, to CEO -Dentsu Aegis Network Greater South. Bhasin will oversee business across India, Bangladesh, Sri Lanka, Thailand, Indonesia, Myanmar, Vietnam, Philippines, and Malaysia.
  • Van Heusen has appointed Jacqueline Fernandez as the face of its Women Handbags segment.

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