News digest: JSW vs Tatas, Walmart-Flipkart deal, Taj auction, and more

Sajjan Jindal's JSW Group is doing an encore in power with Prayagraj Power Generation Company against the Tatas as it has done in steel with Bhushan Power & Steel

I-T asks Walmart to pay Flipkart tax in a week

Within days of Walmart concluding the $16-billion deal to acquire a 77 per cent stake in Flipkart, the income tax department has sprung into action to get its due from the transaction. The department has set September 7 as deadline for the Bentonville-based retail major to deposit a  withholding tax arising out of the mega deal, it is learnt. Read More

ICICI Bank votes for Kochhar on ICICI Sec board

Chairperson of ICICI Securities, Kochhar — currently on leave amid an on-going probe in the Videocon loan case — gave the AGM a miss but her position remained intact. Read More

After steel, JSW, Tatas in power battle

Sajjan Jindal's JSW Group is doing an encore in power with Prayagraj Power Generation Company (PPGCL) against the Tatas as it has done in steel with Bhushan Power & Steel.  Read More

Kerala reconstruction: State seeks FRBM limit relaxation

In order to open more fundraising channels for reconstruction and rehabilitation of its flood-hit areas, Kerala is set to approach the central government to increase its market borrowings limit from 3 per cent of Gross State Domestic Product (GSDP) to 4.5 per cent. The state is already in talks with the World Bank to raise Rs 100-150 billion. This comes at a time when the Centre has declined aid from foreign countries like the United Arab Emirates, which, according to Chief Minister Pinarayi Vijayan, promised “Rs 7 billion”.  Read More