Top 10 business headlines: Jet crisis, TikTok ban, GST, and more

From Madras HC lifting ban on TikTok to GST Council giving firms more flexibility on use of input tax credit, Business Standard brings you top 10 business stories that made news on Wednesday

IndiGo, Tatas protest govt's basis for allotting Jet Airways slots

The country’s largest airline, IndiGo, and the Tata Group, which operates Air Asia India and Vistara, have opposed a government decision to allocate Jet Airways slots only to those deploying new aircraft. Read more...

RBI may allow 66% lenders' approval for resolution of stressed assets

RBI may lower the approval threshold in its revised circular for the resolution of stressed assets to 66 per cent of lenders by value from the current level of 100 per cent. Read more... 

Madras HC lifts ban on TikTok, imposes limit on content of videos

The Madras HC has lifted the ban on Chinese short video sharing app TikTok, subject to the company fulfilling some conditions. Read more...

GST Council gives firms more flexibility on use of input tax credit

In yet another simplification, the Goods and Services Tax (GST) Council has added flexibility into the way a company can utilise the available input tax credit.  Read more...

SFIO quizzes Deloitte ex-CEO over alleged audit lapses in books of IL&FS

SFIO on Wednesday questioned Deloitte’s former chief executive officer Udayan Sen and two others over alleged audit lapses in the books of Infrastructure Leasing & Financial Services (IL&FS). Read more...  

Sebi bars cash-strapped Hotel Leelaventure from asset sale to Brookfield

Sebi) on Wednesday ordered cash-strapped Hotel Leelaventure to not proceed with the Brookfield Asset Management deal, following letters of objection from foods-to-tobacco major ITC and state-owned insurance giant LIC. Read more... 

Why Brand Saridon clicks with all despite competition and a brief ban

Every second, 21 consumers in India pop a Saridon to relieve themselves of a pounding headache. In ten years, Saridon, whose brand licensing rights were picked up by Piramal Enterprises in the 1990s from pharma major Roche, has grown 20 times. Read more...

Voda Idea Rs 25,000-cr rights issue fully subscribed, will help cut debt

Merged telecom operator Vodafone Idea’s Rs 25,000-crore rights offering has garnered full subscription, investment bankers handling the share sale said. Read more...

Higher cost of energy efficient white goods makes a dent on sales 

Indian consumers are not buying high-energy-efficient refrigerators and air-conditioners after New Delhi revised the standards for household appliances, a revision that has pushed up prices of higher rated white-goods by 20-30%, reports Economic Times. 

Xiaomi shifts gears in India, eyes half of its revenue from offline sales

After dominating the online sales channel, India’s largest smartphone brand Xiaomi Corp. has realized that further growth will come from physical stores. The Chinese firm is now aiming to garner half of its overall revenue from offline sales, reports Livemint.