Jun 30, 2017 - Jaypee lenders may get to see writeback of Rs 3,000 cr provisioning

View online   Advertise              Unsubscribe from TradeBriefs Business Daily

Sree Vijaykumar From the Editor's Desk As Teresa Barger of Cartica Capital says in this article, financialisation and formalization are two dominant economic trends in India today. Financialisation is when money comes out of cash, gold and savings accounts into the financial markets. This is being driven by more Indians (especially millenials) participating in mutual funds, insurance-led funds, etc. At this stage of India's growth, this should be good, as corporate India can use this money to grow themselves and the economy. The second trend of formalization is what some of the big bang reforms of the current government have been all about. While demonetization was an attempt at catching individual evaders in the tax net, GST will help increase the corporate tax net as companies at the top of the food chain will force smaller companies to file taxes, so the big companies can claim input credit. This is more likely to succeed than demonetization. It will also drive some SMEs out of business! Advertisers of the day On behalf of SAP India: Get GST-Ready in just a few weeks shivkhera: Optimize Performance and Move Up to the Next Level : Programs by Mr. Shiv Khera   Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). Jaypee lenders may get to see writeback of Rs 3,000 cr provisioning The decision to sell the cement biz to reduce JPA's' debt was taken more than a year ago. Advt: Lending solutions for all your long-term business needs No company starts big. They grow over time. Standard Chartered will be your companion in this growth journey, giving you solutions that fit your needs at every stage (Know More) Advt: Work for the best employer - Yourself Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification. Digital payments company Zeta buys stake in ZingHR Through the investment, Zeta plans to reach out to the employees that ZingHR serves through its corporate clients. Enough provisions for accounts under RBI watch: Axis Bank The bank said 80 per cent of this outstanding was secured and provided Rs 2,497 crore against these accounts. Crisil gets foothold in rival CARE with 8.9% stake purchase According to bankers, credit-rating agencyCrisil is setting the stage for an acquisition. Fast forward; GST set to transform face of Indian logistics industry As Modi made GST a priority, these investors have put $1.5 billion in the warehousing business. Bots are welcome in the insurance sector The next time your insurance company responds in a flash, it is likely that you were attended to by a bot. GST: How a big company like Marico is preparing for the new tax regime For the past 45 days, Marico's IT team is hard at work on the GST switchover involving 850 distributors and 3,000 vendors across India Catholic Syrian Bank-Fairfax deal collapses on valuation Fairfax arrived at a valuation of Rs60-100 per share for picking up 51% stake in Catholic Syrian Bank as against the bank's own estimate of Rs165-200 a share ADB to invest $10 billion over five years in Indian infrastructure Asian Development Bank president Takehiko Nakao termed the roll-out of the Goods and Services Tax (GST) as an important reform achievement of the NDA government, but suggested that its implication cou As bankruptcy proceedings kick off, promoters look to stay in the game Promoters of firms facing insolvency and bankruptcy proceedings are likely to take up the role of employees to stay close to their business operations Essar Steel insolvency proceedings: SBI, Standard Chartered differ on choice of IRP SBI has hired Alvarez & Marsal as its interim resolution professional (IRP) while Standard Chartereds choice is consulting firm EY, according to its filing with the bankruptcy court. SBI urges government to ease provisioning The bank has also demanded that if any other creditor takes the NCLT route, no additional provisioning should be mandated on that particular account. Lok Capital returns $65 million to investors Impact investor Lok Capital returns principal capital of $65 million, which it raised from investors for its second fund Lok Capital II, with three years to go There's a lot of expectation on future growth in India, says Nicholas Cator The executive director of Verlinvest Asia on his firm's investment mantra and why exits are hard to come by, and was a big cause of concern for investors who have committed capital to India Will Air India be rebranded after privatisation? The ministers' panel formed to look into Air India privatisation will also decide on a new name for the airline JSW Steel scouts for US deals after failed Ilva bid JSW Steel looking at acquisition targets in the US to expand its presence in a sector that's been boosted by Trump's pledge to rebuild infrastructure and focus on local manufacturing Banks Board Bureau conducts interviews for SBI chairman's post The four SBI managing directors were interviewed by three sub-committees under the BBB, sources said. RRB employees to observe one-day strike on June 30 Their employees organisation -- the All India Regional Rural Bank Employees Association -- said that a majority of the 90000-strong workforce in RRBs, is going to participate in strike. Sebi chairman Ajay Tyagi warns mutual funds over bad assets Sebi chairman Ajay Tyagi says mutual funds should strengthen due diligence, ensure bad loans in the banking system do not shift to funds by way of transfer of debt From Jan 1 next year, you don't have to pay more than MRP for a bottle of mineral water at movie halls Higher prices for packaged goods at airports, malls to go. Medical devices have to display MRP. These rules will come into effect from January 1. Wholesalers, retailers floating new companies to be GST compliant "In near future several new firms will be floated," said a consultant who advises small retailers and wholesalers on tax issues. Post GST, Future Group wants HUL to protect margins "If margins are not restored in absolute terms, then we will have to restrict shelf space and market shares of these companies," said Kishore Biyani. This startup wants to be Flipkart of logistics Founded in May 2016, Cogoport is an online logistics marketplace that aggregates ocean and airline freight carriers for exporters and importers. 43 of 55 McDonald's outlets in Delhi shut due to health license, legal battle Hindustan Times 43 of 55 McDonald's outlets in Delhi shut due to health license, legal battleForty-three of the 55 McDonald's outlets in Delhi are shutting down, media reports said on Thursday, blaming the tussle between the north Indian franchisee and the global food giant for the shock decision. "The 'eating house licenses' of a number of ... articles  Spice Mobility to re-enter India mobile phone market, forms JV with China's Transsion Spice Mobility forms a joint venture with China's Transsion to sell feature and smartphones in India, plans 10 launches in the next six months How GST will impact auto, real estate, telecom and retail sectors The Goods and Services Tax, which will bring the Indian economy under a single tax bracket, is said to reduce the delays in tax payments and ensure more stringent checks on the... Moneycontrol wins the Best Mobile App for Business' award at the GSMA Asia Mobile Awards 2017 The app has over 7.6 million direct downloads and offers the latest market data and business news ICRA Limited: Indian telecom sector revenue to decline by 6% to Rs 2.4 lakh crore ICRA predicts 6% fall in telecom industry revenue in FY18 - Intense competition and pricing pressure will continue to take a toll on the telecom sector with industry revenue expected to fall another 6 per cent during the current financial year, according to ICRA. Reliance Jio: Telecom tangle: Is floor price for voice, data services feasible? This issue largely rose after Reliance Jio came in with a free offer for voice and data, thus disrupting the industry's tariff regimes. Petya ransomware targeted Ukraine but India also affected badly, experts call it wiper Many companies in Europe and US have been massively affected by an attack from a ransomware known as 'Petya'. Ukraine has emerged as the epicentre of the attack - Kapersky Labs has reported that 60 per cent of the systems infected were located within Ukraine. MRP, expiry dates a must on ecomm products soon New Delhi, Jun 29 () Products sold on e-commerce platforms and medical devices declared as drugs like stents will now have to mandatorily carry retail prices and other essential information from next year as per the government's new labelling rules. GST ready for June 30 midnight launch: The anatomy of a unified tax regime The Goods and Services Tax has been termed a potential game changer, the single biggest tax reform in independent India, one that the government says is founded on the concept of... ITC's packaged food business posts 13 per cent revenue growth in FY17 Four years after ITC raced past Hindustan Unilever in the overall foods business, the cigarette company evidenced its makeover into a diversified group. McDonald's trying to get back licences, says no job losses Connaught Plaza Restaurants Pvt Ltd (CPRL), McDonalds licensee in North and East India, suspended operations of the restaurants that lost 'eating house licences. Manpasand Beverages soars over 3%: fixes record date for dividend Manpasand Beverages has fixed record date for the purpose of payment of dividend to the eligible shareholders as on August 11, 2017. The dividend shall be payable on August 28, 2017 ITC proposes more pay to Deveshwar, seeks shareholders' nod At last year's AGM, the shareholders of the company approved appointment of Deveshwar as Non-Executive Director and Chairman for a period of three years with effect from February 5, 2017. Beyond basmati Over 300 fragrant rice varieties are being rescued from obscurity and extinction by committed farmers ITC's non-cigarette FMCG sales cross $2-billion mark in FY17 ITC's 25 FMCG brands spanning packaged food, personal care, education and stationary products, apparel, agarbatti and safety matches registered sales of Rs 14,000 crore in FY17. Pre-GST offers: It is raining discounts for consumers NEW DELHI: Shopaholics are on a high. With just 48 hours to go before GST kicks in, retailers across the country — from Big Bazaar to Amazon —are leading a last-minute charge to clear stocks. GST may make alcohol more expensive, prices likely to be hiked by whopping 15 pct Come July 1 and the much awaited GST rollout may make alcoholic beverages dearer as prices are likley to be increased by 3 to 5 per cent for whiskey and wine, and 12 to 15 per cent for beer. E-commerce bouncing back after a spell of layoffs The outlook for the sector is up by 2 points from 91 in October 2016-March 2017 period to 93 in April 2017-September 2017 period. TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India