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The Economic Times CFO and COO roles merging as finance leaders expand responsibilities

This evolution has been accelerated by the COVID-19 pandemic, which highlighted the growing need for CFOs to take on broader strategic and operational responsibilities.

The Economic Times HBD Financial Services CFO confident of IPO by September 2025, focuses on balanced profitability

HBD Financial Services, under CFO Jaykumar Shah, is preparing for an IPO before September 2025. The HDFC Bank owned company focuses on sustainable growth and balanced profitability to attract investors.

The Economic Times India poised to become 3rd largest economy in the world: Ashwini Vaishnaw

India would soon become the third largest economy in the world, Union Information and Broadcasting, Railways, and Electronics and Information Technology Minister Ashwini Vaishnaw said on Tuesday.

The Economic Times Insolvency resolution time increases as 21,000 cases pile up before 15 NCLTs

As of June 2024, approved resolution plans yielded an average of 84.93% of the fair value of stressed assets, slightly higher than the 83.89% recorded in June 2023.

The Economic Times NSE revives IPO plans, reapplies for Sebi’s no-objection

The National Stock Exchange of India has resumed its long-pending public offering process, seeking a 'no-objection' from the Securities and Exchange Board of India. The exchange reported a 39% year-on-year rise in June quarter profit, driven by higher trading volumes and operational revenue.

The Economic Times GST Council meet to discuss rate rationalisation on September 9, final decision later: FM

Finance Minister Nirmala Sitharaman announced that the upcoming GST council meeting will address the rationalisation of tax rates, including potential changes to taxes and slabs. The Group of Ministers recently discussed maintaining the existing GST slabs at 5, 12, 18, and 28 percent. The council will also consider the future of the compensation cess, which was extended till March 2026 to repay loans taken to compensate states for GST revenue loss.

The Economic Times General Atlantic, Prosus ask Supreme Court to hear their concerns in Byju's insolvency

Foreign investors in Byju's, such as General Atlantic and Prosus, sought the Supreme Court's attention amid the company's $1 billion dispute with U.S. lenders, leading to its insolvency. These investors, who own a combined 17% stake, highlighted concerns of mismanagement, reinforcing similar accusations previously made by U.S. lenders.

The Economic Times HUL slapped with Rs 962 crore tax notice over TDS dispute in Rs 3,045 crore GlaxoSmithKline deal

Hindustan Unilever has received a tax demand of Rs 962.75 crore from the Income Tax Department over non-deduction of TDS for acquiring intellectual property rights from GlaxoSmithKline. The company intends to appeal the order and claims it has a right to recover the tax from relevant parties.

The Economic Times Tax notices leave a bitter taste for several chocolatiers, bakers

While individual tax dues of the entities under the scanner may not be very large, the tax liability of the industry, excluding penalty and interest, could add up to more than ₹1,000 crore, according to the people cited earlier. Experts, however, said that the matter involved a dispute of classification and the DGGI's actions might be challenged in the court of law.

The Economic Times Zee and Sony India units settle dispute over failed merger

Zee Entertainment Enterprises and Sony's India units have settled all disputes related to their failed merger. Both companies have withdrawn their claims from the Singapore International Arbitration Centre and other legal proceedings. This resolution allows them to pursue growth opportunities independently, marking the end of their dispute.

The Economic Times Reform pill likely soon for speedy recovery of debt

Separately, a set of amendments to the Insolvency and Bankruptcy Code (IBC) is being considered to fix any shortcomings in the law. "These reforms are aimed at expeditious loan recoveries, giving more legal backing to recovery tribunals, and addressing delay tactics by borrowers in the recovery process," said a government official aware of the developments.

The Economic Times How will the Unified Pension Scheme impact India's finances?

While the UPS is not a complete return to the Old Pension Scheme (OPS), which was a fully defined benefit plan, it is expected to strain the exchequer.

The Economic Times Patel Engineering eyes 10% top-line growth this fiscal, zero term debt in 2-3 years, says acting CFO

Patel Engineering's acting CFO, Rahul Agarwal, highlights that while transparency in government contracts has improved, the alignment of new technologies between government agencies and contractors remains a challenge, offering opportunities for increased efficiency.

The Economic Times Vedanta readies INR 30,000-cr war chest to pursue further deleveraging, growth

Vedanta Ltd, led by Anil Agarwal, raised INR 30,000 crore through various means, including a qualified institutional placement and an offer for sale. The funds will be used for deleveraging and growth. The company's profit grew significantly, with a noted reduction in production costs. Vedanta also progressed on its demerger plans, aiming to attract major investments.

The Economic Times SBI Research anticipates Q1 GDP growth at 7.1%, in line with RBI forecast

The Indian economy is projected to grow by 7.0-7.1% in Q1 of 2024-25, according to an SBI Research report. This forecast, however, carries a downward bias. The Reserve Bank of India has predicted a 7.2% GDP growth for the entire fiscal year, with quarterly growth estimates of 7.1% for Q1.