Raids on Lalit hotels group, promoter led to Rs 1,000-cr black foreign assets: CBDT
"The investigation has successfully lifted the veil, leading to detection of undisclosed foreign assets of more than Rs 1,000 crore, apart from domestic tax evasion of more than Rs 35 crore which may lead to consequences under the Black Money Act, 2015, as also, action under the I-T Act respectively," the Central Board of Direct Taxes (CBDT) said.
I-T raids at Bharat Group, undisclosed foreign assets recovered
The Income-Tax Department's searches on the Bharat Hotels group, that runs th...
IHG plans mid-scale hotels in small cities to counter slowdown
"To counterbalance the slowdown with our brands of Holiday Inn and Holiday Inn...
Chalet Hotels inks pact to acquire Belaire Hotels for enterprise value of Rs 290 crore
The completion of the transaction is subject to fulfillment of certain conditions precedent as agreed in the SPA, Chalet Hotels said in a filing to the BSE. The Novotel hotel is operated by AAPC India Hotel Management Pvt Ltd (part of Accor Group) under a management agreement, it added.
Oyo layoffs have hotel partners worried
Several existing hotel partners of Oyo expressed concerns over the job cuts at the SoftBank-backed company and said they had received no communication so far about reduction in client-facing roles.
Income Tax sleuths raid premises of Lalit hotels promoter Jyotsna Suri, associates
About 8 premises linked to Bharat Hotels CMD Jyotsna Suri and some of her associates as well as Jayant Nanda, promoter of Cargo Motors, one of the largest dealers of Tata motors in the country, are being searched in and around the national capital. The searches, officials said, were launched late on Sunday and are related to a tax evasion probe being conducted by the department.
Oyo's layoffs have hotel partners worried
Hoteliers are unable to contact company representatives who were doing business with them.
Seeing India's love for gods, hotels put faith in religious locations
Till September 2019, over 870 keys had been signed across religious destinations like Amritsar, Dwarka and Haridwar last year, showed data real estate services firm JLL shared with ET. These rooms across hotels are expected to be operational in the next two years.
At Alibaba's FlyZoo futuristic hotel, robots run the show
Alibaba’s FlyZoo hotel with its range of AI intelligent services in the 290-room property in Hangzhou will transcend you into a world where ...
Seeing India’s love for gods, hotels put faith in religious destinations
Owing to India's fascination with gods, travel companies and hotels are ramping up their presence in religious destinations in and outside India.
Avighna in talks with HBS Realtors for Worli Project
As part of the proposed agreement, Avighna Group is expected to take care of entire execution and marketing of the project, while HBS Realtors will bring in the land parcel. Avighna Group is likely to finance its part of investment into this project through internal accruals and sales collections.
Eros Group to invest Rs 250 crore on new housing project in Faridabad
New Delhi, Jan 15 () Realty firm Eros Group said it will invest Rs 250 crore to develop a new luxury housing project in Faridabad, Haryana.
Most hotel rooms full for New Year Eve
Chances are your favourite five-star hotel might be sold out. As the year draws to a close, bookings for New Year’s Eve staycation packages at luxury hotels have gone up exponentially.
Why is it hard for hotels to trust Oyo?
Many hotels have severed ties with Oyo citing alleged discrepancies in contracts and payments.
Choice Hotels plans to open 11 new hotels in India in 2020
Choice Hotels India, a wholly-owned subsidiary of the US-based hospitality company Choice Hotels International, is looking to open 11 new hotels in India in 2020.
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