Top 10 biz headlines: Lakshmi Vilas-IBH merger, L&T-Mindtree deal, and more

From Lakshmi Vilas Bank, Indiabulls Housing merger to Daiichi-Ranbaxy case, Business Standard brings you top 10 business stories that made news on Friday

Lakshmi Vilas Bank to merge with Indiabulls Housing in a share-swap deal

Chennai-based Lakshmi Vilas Bank is set to merge with Indiabulls Housing Finance in a share-swap deal, reflecting the trend of consolidation in the financial services sector. The boards of both entities approved the merger proposal on Friday. Read more

CCI approves L&T's proposal to acquire up to 66.15% stake in Mindtree

The Competition Commi­ssion of India (CCI) on Friday approved engineering and construction major Larsen & Toubro’s (L&T’s) proposal to acquire up to 66.15 per cent stake in Mindtree.

With this nod, L&T has overcome the first major regulatory hurdle in its bid for ‘hostile’ takeover of the Bengaluru-headquartered IT services firm. Read more

Daiichi-Ranbaxy case: SC warns Singh brothers of jail if guilty of contempt

The Supreme Court on Friday threatened to send the former promoters of Fortis Healthcare, Malvinder Mohan Singh and Shivinder Mohan Singh, to jail if it was established that they had violated the orders of the court by selling assets of the company. Read more

Investors in unlisted firms can't file ITR-1, ITR-4 forms, says CBDT

Directors and people with investments in unlisted companies and start-ups will now have to make extensive disclosures in the new income-tax return (ITR) forms, according to a Central Board of Direct Taxes notification for assessment year 2019-20. Read more

Sebi's age rule makes directors aged 75 or above quit 228 companies

Septuagenarian and octogenarian directors on the boards of India Inc were seen hitting the exit door before the Securities and Exchange Board of India’s (Sebi’s) new corporate governance regulations kicked in on April 1. Read more

After High Court order, more trouble ahead for apps similar to TikTok

Popular Chinese video apps such as TikTok, Kwai, LIKE and a host of others might be on borrowed time in India. The Madras High Court’s direction on Thursday to the central government for a ban on TikTok is the first indication in this regard of what seems likely over the coming months. Read more

Hindustan Unilever to work with trusted network to fight ad fraud

The country’s largest advertiser, Hindustan Unilever (HUL), is drawing up a list of trusted online publishers it will work with to ensure greater digital transparency, reduction of ad fraud and bring down the menace of toxic advertisements. Read more

Lessors to Jet plan to de-register many more planes in coming days

Lessors to India's Jet Airways Ltd are planning to ask the country's aviation regulator to de-register many more planes leased to the airline, three sources told Reuters, signalling that a planned bailout of the troubled carrier is failing to assuage their concerns. Read more

Snapchat gets bigger, bolder: New AR features, gaming and ad platform, original videos

Snap Inc, the parent company of Snapchat, is exploring new features and partnerships to offer more engagement options between users, creators and advertisers and fight competition from other social networking sites, says a Livemint report. 

In FY19, UPI moved seven times the money it did the previous fiscal

The mobile-only payments ecosystem Unified Payments Interface (UPI) is emerging as a major payment option for Indian users, with transactions worth Rs 8.70-lakh crore carried out in 2018-19, a growth of 695 per cent over the previous fiscal, the BusinessLine reports.