I-T dept disallows $20-mn ‘sham’ investment in NDTV

The income tax (I-T) department has disallowed a $20-million (Rs 135-crore at current exchange rate) investment by Velocity Interactive Group (VIG) in New Delhi Television Ltd (NDTV) in 2007. Calling the investment a ‘sham transaction’, the department has issued an order to the media company, NDTV informed the BSE on Monday. Terming it “unexplained investment […]

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Panama papers: investments legal, say Indian investors

PTI Aishwarya Rai Bachchan. File photo Several Indians who figure in the list of those who have used tax havens to park their money have claimed that their investments were legal, while many have maintained silence. While super star Amitabh Bachchan was yet to respond to the revelations by Monday evening, the media adviser to […]

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Apple exploring investment options in India: Telecom Minister

Technology giant Apple Inc and other global players are exploring opportunities to invest in India’s electronic segment, which has attracted investments of over Rs 1.2 lakh crore so far, Telecom Minister Ravi Shankar Prasad said. “When I became minister, we had Rs 11,198 crore of investments in electronic manufacturing. I am happy to tell you, […]

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Digital India Is a $1 Trillion Business Opportunity: Ravi Shankar Prasad

The government’s Digital India initiative is a $1 trillion (roughly Rs. 66,33,544 crores) business opportunity across IT and IT-enabled services, telecom and electronics manufacturing, Communications Minister Ravi Shankar Prasad said in Mumbai on Wednesday. “Nearly $400 billion (roughly Rs. 26,53,413 crores) will be added from the electronics manufacturing, including mobile phones, solar panels etc., while […]

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Germany to Invest EUR 10 Billion on Faster Internet by 2025

Germany plans to set up a fund worth EUR 10 billion (roughly Rs. 73,898 crores) to foster investment in faster Internet connections in rural areas by 2025, the Economy Ministry said on Monday. Officials are concerned that a failure to capitalise on the latest digital developments will leave Germany’s industrial base exposed to new competitors […]

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Reliance Jio to offer free Wi-Fi at 6 stadiums for T20 World Cup

Mukesh Ambani-owned Reliance Jio will offer free Wi-Fi services during the T20 World Cup across six stadiums in the country. The services, under the name JioNet, would be available to the spectators of the cricket matches in Feroz Shah Kotla in Delhi, Eden Gardens in Kolkata, Wankhede Stadium in Mumbai, Chinnaswamy Stadium in Bengaluru, IS […]

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India Funding Roundup: A Reproductive Health Tracker, Task Management App, and More

Our latest funding roundup compiles seed stage investments in startups in the sectors of in healthcare, AI-driven analytics, virtual reality, food delivery, and on-demand services. LoveCycles Bengaluru-based Plackal, creators of the menstrual cycle tracking app LoveCycles announced Hindi language support for its app on Tuesday, and disclosed that it has secured Rs. 5 crores from […]

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