Here are the Business News Headlines as on 22nd June 2017:
- Lenders have approved in principle debt recast for Jaypee group flagship Jaiprakash Associates. This has spared Jaiprakash Associates from insolvency proceedings. However the other group company Jaypee Infratech would be referred to NCLT.
- Tata group is open to purchase a stake in Air India and believed to have held preliminary discussions with senior government officials.
- GST Update : Revenue Secretary Hasmukh Adhia said the notion that assessees will have to file three returns every month is unfounded and retailers or B2C dealers need not give invoice wise details every month. Eighty per cent of the businesses will have to simply file total turnover detail in return because they are all B2C dealers or retailers.
- Sebi has eased M&A norms for distressed firms. Now buyers of shares in debt-laden firms will not have to make an open offer—a move that will speed up bad loan resolution at banks.
- The Delhi HC has allowed Ranbaxy promoters Malvinder and Shivinder Singh to sell a stake in Fortis on the condition that the disclosed value of their unencumbered assets will remain unaffected.
- Quikr has acquired job listing company Babajob to strengthen its position in the blue collar jobs segment.
- Bengaluru has become country’s first city where one can have fuel delivered at one’s doorstep. Mypetrolpump, a one-year-old startup, conducted a soft launch with three delivery vehicles each with a capacity of 950 litres. Diesel is delivered at the day’s running price with a fixed delivery charge.