COVID-19 relief, Black Fungus drug imports exempted from IGST till Aug 31: FM businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
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Experts warn second wave more lethal for businesses too, moot an urgent rescue act
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A health worker uses an oximeter to monitor the pulse and oxygen saturation levels. File
| Photo Credit: NAGARA GOPAL
Experts warn second wave more lethal for businesses too, moot an urgent rescue act
The Goods and Services Tax (GST) Council, meeting this Friday, after a gap of over seven months, should prioritise giving relief on the taxes levied on COVID-19 vaccines and critical medical supplies, and rationalise GST rates to provide relief to sectors that are worst hit by the second wave, according to regulatory experts.
Lenders can recover dues from personal guarantors: Supreme Court indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Rules for insurance firms’ control tweaked after FDI ceiling raised to 74%
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New norms seen as a ‘mixed bag’
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New norms seen as a ‘mixed bag’
Indian promoters of insurance joint ventures with foreign partners will no longer be able to nominate a majority of the board members, as per the new rules notified under the Insurance Act. This follows the recent amendments to enhance the foreign direct investment (FDI) limit in the sector to 74% from 49%.
However, a majority of board members, key management persons (KMP) need to be resident Indian citizens, as should at least one of the three top positions the chairperson of the board, the MD and CEO.
Goldman Sachs invests in Aragen Life Sciences (GVK Bio)
May 20, 2021
The company has invested more than $3.6 billion in capital since 2006
Goldman Sachs has acquired a significant minority stake in Aragen Life Sciences (Aragen), formerly known as GVK Biosciences, by acquiring shares previously held by ChrysCapital and other existing shareholders.
Aragen is a leading provider of outsourced discovery, development, and manufacturing services across both large and small molecule platforms.
Promoted by GV Sanjay Reddy of the Hyderabad based GVK Group in 2001, it has become a specialised contract research organisation. In 2004, DS Brar of Ranbaxy became a co-promoter.
While the company did not disclose a deal value, the acquisition of 33 per cent stake is estimated to be about ₹2,400 crore with the company valued at ₹7,300 crore (about a billion dollars).