GIC will invest Rs. 5,512 crore for a 1.22 percent stake, while TPG Capital Management will invest Rs. 1,838 crore to own a 0.41 percent equity stake in the retail arm, the company said.
India's economic recovery gathers pace: As per the data by finance ministry, GST collection was Rs 95,480 crore in Sept as against Rs 86,449 crore in August this year. The collection stood at Rs 91,916 crore in September last year.
Reliance Retail Limited, a subsidiary of RRVL, operates India’s fastest growing and most profitable retail business serving close to 640 million footfalls across its ~12,000 stores nationwide.
Silver Lake’s additional investment is a strong endorsement of the tremendous potential of Indian Retail and the capabilities of Reliance Retai.
ITR filing deadline extended: The Income Tax department, in a statement, said that the decision was taken after further consideration of genuine difficulties being faced by the taxpayers due to the Covid-19.
“Amid a rising number of novel coronavirus cases in India and its ensuing onslaught on the economy, the Centre is willing to give more stimulus to various sectors hit due to Covid-19,” Sitharaman told a paper in an interview.
The facility which was initially available up to June 30 was later extended up to September 30 due to economic disruptions caused by the COVID-19 pandemic and subsequent lockdown.
The project will provide enhanced support to women and vulnerable groups through skills training, paid internships, and community engagement and awareness activities.
The Permanent Court of Arbitration in The Hague held that any attempt by India to enforce the tax demand would be a violation of the country’s international law obligations