Business

The prime minister also asserted that India now has one of the most people-friendly tax regimes globally, and that efforts are on to further improve taxation system.

About 450 real estate companies across the country are facing insolvency proceedings under the Insolvency and Bankruptcy Code because of default in the delivery of projects to homebuyers as well as repayment of bank loans.

These shares, which account for 2.78 per cent shareholding, have been pledged to 'secure a credit facility obtained by SpiceJet'.

The Tata Trusts said the cancellation was a culmination of the decision taken by these six Trusts in 2015 to surrender their registration and to not claim the associated income tax exemptions.

British telecom giant Vodafone on said it will continue to stay invested in the Indian market and is seeking the government's support to tide over the current challenging times.

Depositors assembled at a specially created pandal in the ground from the morning itself, but the agitation fizzled out with police officials thwarting threats of a march to BJP office in the afternoon.

Fitch placed Bhariti's 'BBB-' Long-Term Foreign-Currency Issuer Default Rating (IDR) on Rating Watch Negative (RWN).

The Competition Commission assessed allegations for 'market for online intermediation services for booking of hotels in India' for MMT-Go and 'market for franchising services for budget hotels in India' for Oyo.

The average ticket size observed in jewellery retail dipped by 66 per cent to Rs 3,625 for Dhanteras and Diwali, while the same for apparel stores dipped 28 per cent to Rs 1,746, the company said.

Total consolidated income rose 17.26 per cent to Rs 37,424.78 crore during the period under review, as against Rs 31,914.82 crore in the corresponding period of 2018-19, the bank said in a regulatory filing.

Vodafone Idea's scrip tumbled 5.08 per cent to close at Rs 4.11 on the BSE. During the day, it plummeted 15.47 per cent to Rs 3.66 -- its 52-week low.

At the interbank foreign exchange market, the local currency opened on a strong note at 70.79 but lost ground during the day to touch a low of 71.08.

The Supreme Court has ruled that all revenues accruing to telecom companies, except for termination fee and roaming charges, will be a part of the AGR.

Adjusted Gross Revenue is the usage and licensing fee that telecom operators are charged by the Department of Telecommunications. The contention is on the particulars considered to calculate the amount payable.

The airline said it sees 'tremendous potential' in the Ras Al Khaimah airport, and will start basing aircraft in the emirate in December 2019.

Telecom Minister Ravi Shankar Prasad said the government will put in Rs 29,937 crore for revival of the two state-owned telecom companies.