Majority shareholders planning to buy out minority investors from an unlisted public or private company will now have to deposit 50% of the acquisition price in a separate bank account
After R Venkataramanan exited the top position at Tata Trusts in March this year, the foundation had formed a three-member committee to select a successor. The committee, led by Ratan Tata, looked at many people over the past several months and has finally narrowed down on Srinath, said the people quoted earlier.
In July this year, Yes Bank acquired 19% in Cox & Kings by invoking pledged shares. It also picked up 30% in Ezeego One Travel & Tours, a company promoted by Cox & Kings. Three months later, it acquired 21% in Tulip Star Hotel (earlier known as Centaur) in Mumbai.
The TCS share-sale is part of SP’s asset monetisation plan to pare its Rs 30,000-crore debt.
Women usually avoid buying from liquor vendors due to fear of being harassed by authorities.
The Income Tax Appellate Tribunal had cancelled 6 Tata Trusts' registrations from October 31, 2019. If a charitable organisation’s registration is cancelled after June 1, 2016, it will have to pay exit tax. The Trusts’ argued that they surrendered their registrations on February 26, 2015, and that should be considered as the cancellation date.
A profit-making company, Eureka Forbes clocked revenues of Rs 2,388 crore in fiscal 2019.
The Tata Group may consider bidding for Air India, an airline it once owned, whenever the govt finalises its sale. “Ideally, it is a Vistara decision. It is not a Tata Sons decision. I will ask the team to evaluate it," said the Tata group chief N Chandrasekaran. Acquisition of Air India would help the Tatas scale their aviation business.
Though the hospitality industry has been feeling the pinch of softening consumer spending and declining travel, some brands have bucked the trend. American hospitality group Marriott International Inc will open 26 hotels in India by 2020.
At Novartis India, 44% of the employees who chose the flexible work policy in 2018 were men. While at Capgemini, 50% of those who took the option in the last six months were male employees.
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