News digest: Mindtree stake sale, Audi sales, MFs get tax notice, and more

From Sun Pharma going into damage control mode to mutual funds getting tax nootice, BS brings you up to date with the latest news

Fairfax leads race for Mindtree stake

With the founders of Mindtree reluctant to cash in their holdings, Prem Watsa-owned Fairfax is learnt to be leading the race to acquire V G Siddhartha’s stake in the Bengaluru-headquartered IT services firm, sources in the know said. Read more

Sun Pharma goes into damage control mode
 

Seeking to ease investor concerns, embattled drug major Sun Pharmaceutical Industries on Tuesday announced plans to unwind loans of Rs 2,238 crore given to a Dubai-based company, Atlas Global Trading FZC, and transfer the distribution of the domestic formulation business to a subsidiary from a separate entity. Read more

Mutual funds get tax notice

The income-tax (I-T) department is nudging companies, especially mutual fund houses, to pay the dividend distribution tax (DDT).  Read more

Google promises a new search for political ads 

As the country braces for the general elections this year, technology giant Google on Tuesday said it is bringing more openness to election advertising online and is enabling voters to get the election-related information they need. Read more

Our corporations becoming too big to control: Rajan 

India will eventually surpass China in economic size and will be in a better position to create the infrastructure being promised by the Chinese side in South Asian countries, former RBI Governor Raghuram Rajan said Tuesday.  Read more