Promoters of Prime Focus launch mandatory open offer after CS deal
December 28, 2020
With Credit Suisse signing pact to sell pledged shares, Anil Ambani group raises red flag
RCAP group will seek judicial and regulatory intervention to protect the interests of lenders and shareholders of Prime Focus Ltd (PFL) and Reliance Capital Ltd with respect to the stake sale of Credit Suisse (CS) to PFL promoters.
Mandatory open offer
Following the agreement with Credit Suisse, the promoters have made mandatory open offer to the public shareholders of PFL. In a notice to the stock exchanges, Prime Focus said acquirers have made open offer for up to 8.24 crore shares, representing 26 per cent of the expanded voting share capital.
Credit Suisse s stake sale in Prime Focus blatant abuse of purported rights : Reliance Capital
The proposed sale price (Rs 44.15 per share) is at a substantial altogether unwarranted discount to the intrinsic value of Prime Focus Ltd s shares, says Reliance Capital
Chitranjan Kumar | December 28, 2020 | Updated 16:55 IST
Anil Ambani-controlled Reliance Capital raises concerns over Credit Suisse s 33.12% stake sale in Prime Focus
Anil Ambani-led Reliance Capital has alleged that the proposed sale of 33.12 per cent equity shares of Prime Focus by Credit Suisse (CS) at Rs 44.15 per share is a blatant abuse of the purported rights by the CS under certain lending agreements with Reliance Anil Dhirubhai Ambani Group.
Credit Suisse s acquisition of PFL shares is wrong indiagazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiagazette.com Daily Mail and Mail on Sunday newspapers.
Monetary thresholds for claiming benefits
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The Start-up India Scheme delivers numerous benefits to the start-ups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) based on certain specified criteria, one of which prescribes the limit on annual turnover not exceeding ₹1 billion since incorporation.
A similar annual turnover threshold of ₹1 billion is also prescribed under the Income Tax law in the financial year for which tax holiday is to be claimed. Recognition and benefits are subject to the entity not being formed by splitting up or reconstruction and such benefits shall be discontinued from the year in which the turnover threshold is exceeded.
ICICI Bank launches Infinite India platform for foreign firms; all you need to know Infinite India will seek to eliminate the need for coordinating with multiple touchpoints thus leading to a hassle-free experience for foreign companies in India
BusinessToday.In | December 23, 2020 | Updated 16:37 IST
The platform, dubbed Infinite India , will offer foreign businesses banking solutions and value-added services
ICICI Bank has launched a new online platform for foreign firms looking to set up or expand their business in India. The platform, dubbed Infinite India , will offer foreign businesses banking solutions and value-added services. Infinite India will seek to eliminate the need for coordinating with multiple touchpoints thus leading to a hassle-free experience for foreign companies in India.