Forbes India 15th Anniversary Special

Morning Buzz: Government plans Rs60,000 crore home loan subsidy scheme; Burman's plan open offer for Religare Enterprises; and more

It plans an interest subsidy of up to Rs9 lakh on home loans of Rs50 lakh; the Burman family is looking to acquire 26 percent in the company—the open offer is valued at Rs2,116 crore

Samar Srivastava
Published: Sep 26, 2023 09:56:51 AM IST
Updated: Sep 26, 2023 03:47:58 PM IST

Morning Buzz: Government plans Rs60,000 crore home loan subsidy scheme; Burman's plan open offer for Religare Enterprises; and moreImage: Shutterstock

DGGI raises Rs55,000 crore tax demand from eGaming companies

The Directorate General of GST Intelligence (DGGI) has sent out pre-show cause notices to online real money gaming companies. These include a Rs25,000 crore notice to Dream11. More notices are expected in the coming weeks with the total quantum touching Rs1 lakh crore. The recent notification by the government allows for GST of 28 percent on the face value of bets placed on these platforms.
(Economic Times)  

Government plans Rs60,000 crore home loan subsidy scheme

The government plans to offer an interest subsidy of up to Rs9 lakh on home loans of Rs50 lakh. The scheme is likely to be announced in a couple of months and would be similar to the one that ran between 2017 and 2022. The news lifted the BSE realty index by 1.87 percent.  
(Financial Express)  

Stiffer regulation planned for unlisted firms

The Ministry of Corporate Affairs is planning to institute a regulatory framework for large unlisted companies that have systemic implications. While the plan is for smaller companies to continue to have light regulation, for large companies, the ministry may start more compliance initiatives like quarterly filing of accounts. It plans to introduce the Companies Amendment Bill in the winter session of Parliament.  
(Business Standard, Economic Times)  

Burman’s plan open offer for Religare Enterprises

The Burman family is looking to acquire 26 percent in Religare Enterprises at a price of Rs235 per share. The open offer is valued at Rs2,116 crore. The family already owns 21 percent in the company via various investment firms and Sebi rules stipulate that an open offer must be made if an entity acquires more than 26 percent in a company.  
(Economic Times, Financial Express, Business Standard, Mint) 

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