Empower NCLT to waive interest on stressed assets: Assocham
Industry group Assocham yesterday wrote a letter to Finance Minister Arun Jaitley seeking more power for the National Company Law Tribunal to grant relief on tax imposed or waive accrued interest on stressed assets referred to it under the Insolvency and Bankruptcy Code. In the letter, Assocham Secretary General D S Rawat said that in cases where any outstanding liability inclusive of any accrued interest is waived in accordance with the approved Resolution Plan for such entities (the corporate debtor), such waiver or writeback may attract tax under both normal and Minimum Alternate Tax (MAT) provisions.
Samsung to offer cashbacks, no-cost EMI during online sale
Samsung yesterday said it has tied up with payment and finance services providers like Bajaj Finserv to offer cashback, discounts and no-cost EMI options to customers during the upcoming online sale on its portal. The company has announced the Christmas carnival on its official online store 'Samsung Shop', from December 8-15 2017. While Bajaj Finserv will offer no-cost EMI's for multiple tenures on all products above Rs 10,000, Paytm will provide Rs 8,000 cashback on Galaxy S8 and S8+ and Galaxy Note8 smartphones when the payment is made using Paytm. The online store will bring in deals on a range of mobiles, speakers, audio accessories, wearable devices and televisions during this period, the company said.
Sharp and Ingram Micro partner to tap Air Purifier segment
Sharp, the global leader in innovative air purification devices and Ingram Micro, the world's largest wholesale technology distributor, yesterday announced their India specific strategic alliance to further extend exclusive benefits of Sharp’s Plasmacluster technology to the vast Indian populace. This alliance brings together Sharp’s high end air purification technology with Ingram Micro’s extensive network of 16000 channel partners to address the latent need of certified and proved air purifiers in India.
Calco Poly Technik bags D&B SME Business Excellence Awards 2017
Calco Poly Technik has been declared as the Winner of the D&B SME Business Excellence Award 2017 in the Manufacturing Sector for Plastics & Plastics products category. Vijay Kumar Gupta, Founder & MD, Calco Group said, “I am sure that this Award will work as a catalyst, helping us consistently empower towards Innovation, to carry forward Calco’s growth in a steady and responsible pace towards a position of unmatched strength.” Calco Poly Technik is India’s fastest growing enterprise, providing its Customers with Value Added Products, Services and Innovative Solutions encompassing Product Development in diverse Market Verticals.
Capital markets regulator Sebi yesterday proposed to allow mutual funds and portfolio managers to invest in commodity derivatives market in its latest attempt to widen investments in this asset class. Sebi has been taking several steps to deepen the commodity derivatives market with necessary safeguards ever since it came under its regulatory jurisdiction nearly two years ago and it allowed certain alternative investment funds earlier this year to participate in this segment. The participants of commodities derivatives market, which was regulated by the Forward Markets Commission (FMC) before it was merged with Sebi (Securities and Exchange Board of India), has been requesting for long for various institutional investors to be allowed to invest.
Honda Gold Wing 2018 bookings open
Honda Motorcycle & Scooter India Pvt. Ltd. has announced commencement of bookings for the all-new Honda’s 2018 Gold Wing. Pushing the limits of technological innovations for more than 4 decades now, Gold Wing is Honda’s flagship touring icon. Honda’s 2018 Gold Wing gets radical improvements in every category – engineering, handling, technology, comfort and performance. It’s lighter, more powerful, more nimble and more engaging. The all-new Gold Wing features new technologies including a newly-developed horizontally-opposed 6-cylinder engine, 7-speed DCT and Honda’s original double wishbone front suspension.
Shalby IPO subscribed nearly 3 times
The initial public offer of Shalby Ltd, the Ahmedabad-based multi-specialty hospital chain, was oversubscribed 2.97 times on the last day of the bidding yesterday. The IPO aims to raise Rs 504 crore. Shalby on Monday raised over Rs 150 crore from anchor investors. The IPO comprises a fresh issue of shares aggregating up to Rs 480 crore and an offer for sale of up to 10 lakh equities.
Future Supply Chain IPO subscribed 72% on Day 2
The initial public offer of Future Supply Chain Solutions, the logistics arm of the Future Group, was subscribed 72% at the end of the second day of bidding yesterday. The public issue, which targets to garner Rs 650 crore, received bids for over 49.62 lakh shares against the issue size of more than 68.49 lakh scrips, a subscription of 72%, data available with the National Stock Exchange (NSE) showed. Future Supply's IPO opened for public subscription yesterday and will continue till today, at a price band of Rs 660-664 per share. Over one lakh applications have been received so far.