Tag Archives: finance

Lok Sabha passes Finance Bill 2019

The Lok Sabha has passed the Finance Bill, 2019 that gives effect to the proposals of the Central Government for the year 2019-2020. Explaining the proposed amendments in the taxation Acts, Finance Minister Nirmala Sitharaman pointed out that the said amendments will promote ‘Make in India’ and Startups. On the incentives being provided for Electrical Vehicles, she said that the ... Read More »

Demands for Grants, Finance Bill may escape scrutiny of Parliamentary panels

Almost half of the budgetary exercise is over, but Parliament is yet to see formation of department-related standing committees (DRSC). This means Demands for Grants and the Finance Bill will not be vetted by DRSCs as of now. The Lok Sabha is scheduled to take up the Finance Bill for consideration and passage during the week starting July 15. There ... Read More »

Gag on media freedom: Journalists condemn finance ministry restricting entry of journalists into North Block

After the finance ministry put in place restrictions on media from entering the North Block, a tug of war has ensued between Finance Minister Nirmala Sitharaman and reporters. According to the new rules, the finance ministry issued a notice which read, “Entry of media persons, including those holding a PIB accredited card will be on the basis of prior appointment.” ... Read More »

Watch | The Budget Roundtable with Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman. (Photo: PTI) India Today TV is hosting The Budget Roundtable with Finance Minister Nirmala Sitharaman on Monday night. India Today TV News Director Rahul Kanwal will act as the moderator for the roundtable, which is being held at the Oberoi Hotel in Delhi. Also taking part in the roundtable will be managing director of Kotak Mahindra ... Read More »

After dividend distribution tax, Finance Minister ends tax avoidance via buyback route

Finance Minister Nirmala Sitharaman has proposed closing the buyback route used by corporates to avoid paying taxes. Earlier, corporates used to prefer using the buyback route after the government levied a dividend distribution tax of 10 percent in 2007, which was further hiked by a similar quantum in 2016. In the last three years, more than 170 companies have bought back shares worth ... Read More »

Reliance Home Finance falls 7% on extending maturity of NCDs of Rs 400cr

Shares of Reliance Home Financeshed 7.3 percent in the early trade on July 1 after the company extended maturity on certain NCDs of Rs 400 crore. The company in its press release dated June 29 said that in view of the continuing severe liquidity crisis in the sector, the maturity of certain NCDs of Rs 400 crore has been extended till October 31, ... Read More »

Mahindra Finance looks to raise $460 million from offshore markets

Mahindra and Mahindra Financial Services, the non-bank arm of the Mahindra group, is looking to tap the overseas markets to raise at least $460 million through a mix of loans and bonds. The company had raised $200 million in FY19 through the external ECB route, and is in the process of raising another $160 million in overseas loans, said Ramesh ... Read More »

Budget 2019: Halwa ceremony held at finance ministry, printing of budget documents starts

Union Finance Minister Nirmala Sitharaman serving halwa to her colleague Anurag Thakur. (Photo: Twitter/Finance Ministry) Preparations for the Union Budget 2019-20 are on full swing with the Union finance ministry organising the traditional ‘halwa ceremony’ today. Every year a halwa ceremony is organised at the finance ministry to mark the beginning of printing of documents related to the Union budget. ... Read More »

M&M Finance to announce strategic tie-up for asset management arm

Mahindra & Mahindra Financial Services will rope in a strategic partner for its asset management arm-Mahindra Asset Management, sources told Moneycontrol. The company is expected to make the announcement at a press conference in Mumbai on June 21. “The strategic partner is an Indonesian player,” an industry source said without divulging details. As on March 2019, the assets under management (AUM) of Mahindra Mutual ... Read More »

Former ELP partner Deep Roy starts finance + fashionable insolvency boutique law firm Equilex

Former Economic Laws Practice (ELP) partner Deep Roy, whom we had reported to have resigned in March, has started up a boutique firm under the name Equilex, in the finance and sexy flavour-of-the-month insolvency space. “I had this in my mind ever since I was planning to move on,” he said about the firm, which he started on 1 May in a temporary office ... Read More »