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Biz EOD: Govt eases winding-up rules; Cipla ready to combat coronavirus; Godrej Consumer Q3 profit grows

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twitter-logo BusinessToday.In        Last Updated: January 29, 2020  | 21:27 IST
Biz EOD: Govt eases winding-up rules; Cipla ready to combat coronavirus; Godrej Consumer Q3 profit grows
Top stories from the world of business and economy.

Ministry of Corporate Affairs has notified rules for winding-up of companies, making it easier for small firms to close their businesses without going to a tribunal. Cipla Chairman Yusuf Khwaja Hamied said that antiretroviral medications lopinavir and ritonavir, which have been around for about 10 to 15 years and are off-patent, are now being repurposed to deal with coronavirus. Homegrown consumer goods company Godrej Consumer Products reported 5.1 per cent year-on-year growth in consolidated net profit at Rs 445.20 crore for the third quarter ended December 31, 2019. Read for more top stories from the world of business and economy:

1. Govt eases winding-up rules: Now, small firms can shut business without going to tribunal

The Companies (Winding-Up) Rules, 2020, which was signed off on 24 January, will be effective from 1 April 2020.

2. Cipla ready with repurposed HIV drug to combat coronavirus

A combination of two drugs, which have been around for about 10 to 15 years and are off-patent, is now being repurposed to deal with coronavirus.

3. Godrej Consumer Q3 profit rises 5% to Rs 445 crore, sales see marginal growth

Godrej Consumer ProductsQ3 results: India business sales grew 1 per cent YoY, while it delivered volume growth of 7 per cent on a yearly basis.

4. Shadow of coronavirus looms large over Auto expo 2020

A clutch of Chinese companies including MG Motor, Great Wall Motors and BYD is participating in this edition.

5. Budget 2020: Industry expects amnesty scheme for direct tax disputes

The Sabka Vishwas Scheme launched last year for resolution of indirect tax disputes fetched the government over Rs 35,000 crore after it resolved 1.61 lakh cases involving over Rs 80,000 crore tax dues.

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