South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development.
Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
Byju's crisis: The petition states that a service agreement was signed between the parties on April 16, 2022, and 21 invoices raised from March 14 to the end of August 2023 remained unpaid by Byju's.
In the past, there have been instances where the regulator’s orders have been challenged. In 2018, Kotak Mahindra Bank promoter Uday Kotak challenged RBI’s imposing restrictions on promoter shareholding in the Bombay High Court
Right now, criminal prosecution in income tax law gets triggered even for trivial human errors such as delays in deposit of withholding taxes, they say. These and similar other provisions do not help build an environment of trust between the taxpayer and the authorities, experts say.