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GST Council meeting tomorrow, rate cut on real estate expected – Livemint

After having deferred a decision to rationalise GST rates on housing properties and lotteries in its last meeting through video-conferencing on Wednesday, the GST Council is expected to make an announcement tomorrow. On Wednesday, several non-BJP states had disagreed to make a decision on the issue without being physically present in the meeting. As a…

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economy Uncategorized
Jaypee Infra promoter Jaiprakash Associates makes second attempt to settle lenders’ dues

MUMBAI: Jaiprakash Associates, promoter of stressed realty developer Jaypee Infratech, has once again submitted a proposal to lenders of its subsidiary to settle dues. The latest offer comes in the wake of two separate bids made by state-run construction company NBCC and Suraksha Asset Reconstruction Company.In a meeting held on Monday, both the bidders made…

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economy Uncategorized
Individual Insolvency Code may soon be a reality

MUMBAI: Failure to repay home loans might drag future defaulters to dedicated bankruptcy courts as New Delhi is seeking to put in place a broad framework on individual insolvency two years after it revamped such laws for stressed companies.Three sets of entities will fall under the individual insolvency code. They would include the personal guarantor…

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economy Uncategorized
Visakhapatnam: Land pooling scheme sees progress as farmers come on board

VISAKHAPATNAM: The Visakhapatnam Metropolitan Region Development Authority (VMRDA), which has started a nearly 2,300 acre land pooling exercise in several mandals of the district, has pooled about 900 acres till date. The pooled land include 209 acres in Tri-Junction, which is an intersection of five villages in Gajuwaka, Sabbavaram and Parawada mandals, 80 acres in…

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A $23 bn manager is betting on Indias struggling real estate sector – Business Standard

A Bahrain-based investment manager wants to fill a vacuum in lending to Indian property developers that have $18 billion of debt to repay, aiming to capitalise on a credit crunch that’s narrowed their borrowing options. Investcorp Bank BSC, which manages about $23 billion of assets, plans to provide structured lending to developers faced with borrowing…

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