India has challenged in a Singapore court a verdict of an international arbitration tribunal that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, sources said on Thursday. An international arbitration court had on September 25 rejected tax authorities' demand for Rs 22,100 crore in back taxes and penalties.

Ahead of the expected IPO by Flipkart late next year or early 2022, the company made key changes to its board. Flipkart included Group CEO Kalyan Krishnamurthy along with HDFC’s Vice Chairman and CEO Keki Mistry, Walmart’s Global Chief Technology Officer Suresh Kumar, and Walmart International’s Executive Vice President Leigh Hopkins to its board as new directors.

Master G and Daughters Pvt Ltd, a startup that provides providing training to women in the apparel industry, has raised an undisclosed amount of funding from non-profit impact investor Acumen Fund's angel programme. The company will use the funds to develop digital platforms, audio-visual resources and scaling its training to reach more underserved youth in the country.

Instakart Services, a unit of Flipkart, allegedly used fake GST invoices to avail input tax credit (ITC) worth Rs 21 crore since July 2017. GST Intelligence found that fake invoices were issued by two vendors engaged in "manpower supply", Financial Express reported. However, a spokesperson for Instakart denied the allegations of the company availing credit through fake invoices.

The Union Minister for Road Transport, Highways and MSMEs Shri Nitin Gadkari will inaugurate and lay the foundation stone for 18 highway projects in Rajasthan today. These projects for inauguration and foundation laying carry a road length of nearly 1127 km, involving construction value of Rs8,341cr. Paving the way for the development of Rajasthan, these roads will enhance better connectivity.

Prime Minister Narendra Modi would virtually inaugurate the Kochi-Mangaluru GAIL pipeline on January 5, Kerala Chief Minister Pinarayi Vijayan said on Thursday. Vijayan told reporters here that it was a matter of happiness that the Prime Minister had agreed to launch the natural gas pipeline project. "Union Minister Dharmendra Pradhan called yesterday.

Amid fears of a mutated coronavirus strain in the UK, Karnataka has joined Maharashtra in imposing a night curfew — between 10 pm to 6 am — from December 24, 2020, to January 2, 2021. However, cab unions in the state have opposed the imposition of night curfew, claiming that the time between Christmas and New Year could have seen their daily earnings rise substantially. 

India’s steelmakers are on course to leading the country’s metal index to its biggest quarterly gain in more than a decade, as consumption recovers and prices surge globally. The S&P BSE Metal Index has surged by around a third so far in the three months through December, jumping the most since the quarter ended June 2009. Metal companies are in earnings upcycle after two years of downgrades.

In the latest update by Telegram, the company is bringing an array of features including a new group voice chat feature and SD card storage on Android. The update with group voice chat will allow Telegram users to set up a conference call as well. This option is somewhat similar to its existing group voice calling option. However, the new feature has brought enhancement in animations as well.

Moving on from rating criteria for grant of loans, banks are likely to focus on cash flow-based lending in times to come, a top executive of UCO Bank has said. "Banks will focus on cash flow-based lending in times to come and this has already been started by SBI," Ajay Vyas, Executive Director, UCO Bank said at a virtual panel discussion on Redefining Corporate Financing in New Normal.

Bar owners in Maharashtra have welcomed the Maharashtra Government’s decision to give concession in the liquor license fees for the lockdown period and on the rollback on the proposed annual hike. The Maharashtra cabinet on Dec 23 gave a 50% concession on license fees for the lockdown period and withdrew a 15% increase in license fee for FY21 given the losses caused due to the COVID-19 pandemic.

The Dewan Housing Finance Corporation (DHFL) has proposed to issue secured notes and for which the company schedule a meeting at Hong Kong on January 13, 2021. DHFL in its regulatory filing said, "this is to inform you that a meeting of the holders of the INR denominated USD settled 10,000,000,000, 8.50 per cent. The stock has touched an intraday high of Rs32.25 per piece.

Global professional services organisation EY on Thursday announced that it would be hiring about 9,000 professionals in various technological roles in 2021. These would be in various roles across all firms including the global delivery centres, to expand its digital capabilities and help organisations solve their "complex end-to-end business transformation challenges", it said in a statement.

After months of struggle that culminated in the failure to repay bank loans in time, South Korean SUV specialist SsangYong Motor Company filed for court receivership earlier this week. Acquired in 2010, SsangYong has been the troubled unit for Mahindra & Mahindra (M&M) almost every year despite several attempts by the Anand Mahindra-led company to turnaround operations. 

Tata Motors reassures that Jaguar Land Rover remains unaffected by issues at UK ports as new Covid19 strain spreads. A large part of the company's sales volume growth depends on Jaguar Land Rover, UK revenues. However, with the detection of the mutant strain, it was anticipated that JLR, owned by Tata Motors, would take a hit for the worse, and take the Indian motor company's stocks down with it.