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Why Godrej family's billion-dollar business restructuring won't attract tax?

The Godrej Group, a 127-year-old family-owned conglomerate, has recently declared its decision to split into two separate entities. This strategic move, led by the third generation of the Godrej family, involves a multi-billion-dollar settlement that will not attract any capital gains tax. Insiders privy to the developments have told Moneycontrol that the Godrej Group has opted for a 'family arrangement' under tax law, which is exempt from capital gains tax provisions of the Income Tax Act.

Sports

India-Pakistan bilateral series Down Under? Cricket Australia voices interest

Cricket Australia, on March 27, shared the idea of hosting a bilateral series between arch-rivals India and Pakistan. As per CA's recently-announced international schedule, both India and Pakistan will visit Down Under for their respective series against hosts Australia in November this year. Notably, the two Asian rivals haven't competed in bilateral assignments in over a decade due to political issues.

Politics

India secretly funded preferred candidates in 2021 Canadian election: Report

An official probe by Canada's Foreign Interference Commission has accused India of engaging "in a range of activities that seek to influence Canadian communities and politicians." The interim report suggests that the Indian government, through its proxy agents, attempted to covertly finance preferred candidates in the Canadian general election of 2021. This was done in an attempt to secure the election of pro-India candidates or establish sway over those who assume power.

Technology

Bhavish Aggarwal-owned Krutrim launches AI chatbot app for Android

Krutrim, an artificial intelligence venture led by Bhavish Aggarwal of Ola, has introduced a dedicated Android app for its AI chatbot. The chatbot is designed to compete with industry giants like OpenAI's ChatGPT, Microsoft's Copilot, and Google's Gemini. This move precedes the imminent launch of Krutrim's developer services, which will include cloud infrastructure and geolocation services via Ola Maps.

Entertainment

Arijit Singh's heartfelt apology wins praise from actor Mahira Khan

A video from a recent concert in Dubai featuring Arijit Singh has garnered global attention. The clip shows Singh apologizing to Pakistani actor Mahira Khan for not recognizing her initially in the audience. He was performing Zaalima from Khan's 2017 film Raees, which co-starred Shah Rukh Khan. In the video, Singh addresses the concert-goers, saying, "You guys must be surprised, should I reveal? I should reveal it in a very nice way..." before revealing Khan's presence at the concert.

Business

Why Godrej family's billion-dollar business restructuring won't attract tax?

The Godrej Group, a 127-year-old family-owned conglomerate, has recently declared its decision to split into two separate entities. This strategic move, led by the third generation of the Godrej family, involves a multi-billion-dollar settlement that will not attract any capital gains tax. Insiders privy to the developments have told Moneycontrol that the Godrej Group has opted for a 'family arrangement' under tax law, which is exempt from capital gains tax provisions of the Income Tax Act.

Miscellaneous

Mother throws speech-impaired son into crocodile-infested river: Report

A 26-year-old woman, Savitri, allegedly threw her six-year-old speech-impaired son into a river known for its crocodile population in a disturbing event in Dandeli taluk, Uttara Kannada district, Karnataka. The incident reportedly occurred after an intense argument with her husband, Ravi Kumar (27). According to the police report, the couple's disputes often revolved around their eldest son's speech disability.