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Foreign investors are bolstering offshore arms with tangible operations to demonstrate substance, following a Supreme Court ruling that denied tax benefits to entities lacking it. Measures include appointing local directors and hiring office space to prove these entities are not merely paper companies designed to evade Indian taxes.
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News and Media
The Indian rupee hit a record low against the dollar on Thursday, pressured by dollar demand linked to the maturity of non-deliverable forward positions and corporate hedging, while the central bank likely intervened to hold it above the psychologically significant 92 level.
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News and Media
Mahindra Holidays and Resorts India reported a 94% plunge in third-quarter profit on Thursday, dragged by a one-time charge following the roll-out of India's new labour codes and slower membership growth.
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India's Deepak Fertilisers and Petrochemicals reported a 43.6% fall in third-quarter profit on Thursday, as softer agrochemicals demand and rising input costs squeezed margins.
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The Economic Survey also noted that while private equity and venture capital funding has fuelled the expansion of the microfinance sector, it has also been accompanied by recurring stress, including over-lending and over-indebtedness.
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News and Media
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