Corporate

Days after Sebi cancelled Sahara India Financial Corporation Ltd's (SIFCL)

Mumbai, 6th March 2021:  Samarpit Kanwatia, a multi-faceted businessman, got into the field of astrology about two decades back and has numerous clients, pan India and in different parts of the world. His clients irrespective of their different castes, religions, and nationalities have always benefited from his knowledge. His clientele includes successful Business houses, Corporates, Lawyers, Doctors, Royals, Media personalities,...

In the largest ever acquisition made in the history of the company, Wipro has signed a definitive agreement to acquire London-headquartered management and technology consultancy company Capco, which provides digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific region. The acquisition is an all cash deal and is expected to be completed...

The Supreme Court on Tuesday ruled that payments made to non-residents for software purchase can’t be taxed as royalty, setting at rest a long-standing row. This means tax liability of foreign software seller without a permanent establishment in India would reduce to the 2% equalisation levy introduced via Finance Act 2020, from the 10% royalty tax, which the Indian...

The Supreme Court Monday held the cheque bounce cases can neither be instituted nor be continued against companies which are facing insolvency proceedings and are protected under a provision of Insolvency and Bankruptcy Code (IBC) putting a moratorium on legal proceedings against them. The top court, however, did not extend the benefit of a moratorium on judicial proceedings in cheque...

AstraZeneca Plc has sold its 7.7 per cent stake in Moderna Inc for more than $1 billion after the US biotechnology company's shares soared on the back of its coronavirus vaccine breakthrough, The Times reported. The report added that it was not clear over what period British-based AstraZeneca sold its holding in Moderna. AstraZeneca and Moderna did not immediately respond...

Two South Korean technology companies are borrowing from mobile gaming to shake up - and dominate - Japan's storied manga industry, a plot twist that has expanded the comics' fanbase to a new generation of readers. Piccoma's third-quarter transaction volumes more than tripled year on year to 11.6 billion yen ($110 million), extending a wave of online manga sales...

HCS Group, a leading international supplier of solutions for high-value hydrocarbon specialties, announced today that they have signed a project memorandum of understanding (MOU) to develop and build a renewable hydrocarbon facility at HCS Group’s site located in Speyer, Germany, utilizing Gevo’s low-carbon alcohol to jet (“ATJ”) technology. The signed agreement anticipates a first project that is estimated to produce...

The Council of the Institute of Chartered Accountants of India (ICAI) elected its new President & Vice-President for the term 2021-2022. CA. Nihar N Jambusaria has been elected as the President and CA. (Dr.) Debashis Mitra has been elected as the Vice-President of The Institute of Chartered Accountants of India w.e.f. February 12, 2021. The Institute of Chartered Accountants of India...

Food delivery platform Zomato has raised $250 million from five different investors as part of a primary fundraising round. The transactions valued Zomato at a post-money valuation of $5.4 billion, Info Edge, which holds a stake in the company, said in a regulatory filing. Info Edge's stake in the company stands at 18.4 per cent after the fundraising round. Zomato...