Most PE fund managers working out of India have received notices from the investigation wing of the income tax department seeking details of their income and assets abroad, said people in the know. Many of them have reached out to their tax advisers and lawyers to deal with the notices.
The court was deciding an appeal by the Securities and Exchange Board of India (Sebi) seeking a stay on voting by creditors because it wanted all bond holders to participate in such votes, contrary to the debenture trust deed (DTD) and central bank guidelines that expect only 75% of the bondholders to vote.
Most PE fund managers working out of India have received notices from the investigation wing of the income tax department seeking details of their income and assets abroad, said people in the know. Many of them have reached out to their tax advisers and lawyers to deal with the notices.
India had 10,000 shadow banks as of March 2021, the latest RBI data available, with assets of 54 trillion rupees ($680 billion) or about one-fourth that of the banking sector. Several of the biggest shadow banks are listed on the stock exchanges.
GIC Investor is a special purpose vehicle organised as a private limited company in Singapore that is part of a group of investment holding companies managed by GIC Special Investments Private Limited (GICSI).
While the two private banks may subscribe about Rs 2,500 crore each, demand from other institutional investors will determine the final subscription size, the people said.
RIL would be investing around $14-16 billion of capex each year across business segments for the next three years which would be nearly double that of the past two fiscal years. The street currently ascribes enterprise value (EV)/EBITDA of eight for the petrochemical business, which contributes one-third of the total fair value of the O2C business.
Through this association, Mahindra Finance would now leverage an automated decisioning platform StrategyOne – A Forrester rated Enterprise Business Rules Engine provided by CRIF – to integrate its customer acquisition channels across multiple retail asset product lines. This association is expected to facilitate quicker loan approval decisions, by combining automation and risk analysis.
HIT is KKR’s third InvIT in India, in addition to Virescent Renewable Energy Trust- India’s first renewable energy InvIT, and India Grid Trust, a transmissions InvIT. Together, these platforms operate and manage 33 assets valued at over $3.8 billion across 22 states or union territories across India.