Top 10 biz headline: GST collections, Airbnb checks into OYO, and more

From Saudi Aramco's profitable year to RBI's new bonds, Business Standard brings you top 10 business stories that made news on Monday

1. FY19 closes on a happy note with record GST collections at Rs 1.06 trillion

The financial year 2018-19 (FY19) ended on a happy note on the goods and services tax (GST) front. At Rs 1.06 trillion, the government has announced the highest monthly collection from GST in March since its roll-out 21 months ago. Read more

2. Airbnb expands India operations, checks into OYO with $200-mn investment

Global homestay major Airbnb on Monday invested close to $200 million in the Ritesh Agarwal-led OYO chain of hotels, homestays, rental accommodation, and co-working spaces. This move, according to industry experts, would give a major boost to Airbnb’s India operations, as it would get instant access to 10,000 OYO Homes properties. Read on...

3. SBI moves Supreme Court on NCLAT's nod for more cash to StanChart

The Essar Steel’s debt resolution battle has reached the Supreme Court (SC) with State Bank of India (SBI) moving the apex court against the National Company Law Appellate Tribunal (NCLAT) advice to give more cash to Standard Chartered (StanChart), which has made a claim of Rs 3,487 crore against the company. Read more

4. Shareholders' pact between families flouted: Usha Martin's Basant Jhawar

The wrangling in the Jhawar family continued with Basant Jhawar — a founder of Usha Martin who was voted out by shareholders on Saturday — alleging that the shareholders' agreement between the two families has been flouted with Rajeev Jhawar voting against his continuation on the company's board. Read more

5. Forget Apple or Exxon, Saudi Aramco was the most profitable company in 2018

The first official glimpse of Saudi Aramco’s financial performance confirms the state-run oil giant can generate profit like no other company on Earth: net income last year was $111.1 billion, easily outstripping US behemoths, including Apple Inc. and Exxon Mobil Corp. Read on... 

6. RBI to introduce new seven-year and 20-year bonds on April 5

The Reserve Bank of India (RBI) will introduce a new seven-year and a new 20-year bonds in the first auction of the fiscal to be held on Friday, April 5. Read more

7. Walt Disney kicks off Fox merger in India with movie studio division

The integration of the Indian units of Walt Disney Company and 21st Century Fox has begun after the completion of the $71-billion acquisition of the latter Read on...

8. CPPIB may invest in Piramal’s renewables, roads platforms

The Ajay Piramal-led Piramal Group, which has set up platforms to acquire operating renewable energy and roads assets, has roped in Canada’s largest pension fund manager Canada Pension Plan Investment Board (CPPIB) as an anchor investor, said two people aware of the development, according to a report by the Livemint. 

9. Sinha takes on DLF again; accuses it of inadequate disclosure in QIP docs

Kimsuk Krishna Sinha, whose complaint led SEBI to impose a fine on DLF and bar its promoters from the market for inadequate disclosures during its IPO in 2007, has again written to the regulator. This time, he has alleged that material information is missing from the company’s prospectus for its ₹3,000-crore QIP offer, says a report by the BusinessLine. 

10. Restaurants lose appetite with tax sop not on menu 

About a dozen prominent restaurant brands have either halted expansion in the country or revised targets downwards over a year after the government scrapped input tax credit (ITC) under the revised goods & services tax regime, according to a report by the Economic Times.