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Biz EOD: Mall owners relent; No retail inflation data for April, May; Tata fared better under Cyrus, Mistrys claim

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twitter-logo BusinessToday.In   New Delhi     Last Updated: June 12, 2020  | 23:57 IST
Biz EOD: Mall owners relent; No retail inflation data for April, May; Tata fared better under Cyrus, Mistrys claim
Top stories from the world of business and economy

Amid the tiff over rent waiver during lockdown, with a section of restaurants and store-owners insisting on relief as a condition to re-open, many mall owners have agreed to ease the terms offering 50 per cent cut in rent for the lockdown period for three months. National Statistical Office has not compiled the retail inflation figure for May due to the coronavirus lockdown. Former chairman of Tata group Cyrus Mistry and his family claimed that the salt-to-software conglomerate has fared better during his time, compared to the three years of the present chairman N Chandrasekaran. Read for more top stories from the world of business and economy:

1. Mall owners relent; rent waiver, revenue share with tenants in Unlock 1.0 action plan

Mall owners who have less debt may be able to offer concessions as they could have the required leeway but malls that have high level of debt would not be able to offer much.

2. RBI sets up panel to review ownership, corporate structure at private banks

RBI panel will examine and review the extant licensing and regulatory guidelines relating to ownership and control, promoters' holding, requirement of dilution, control and voting rights.

3. Centre not to measure retail inflation for lockdown months of April, May

NSO field staff had to supplement price data with their personal purchases from neighbourhood outlets as they could not visit specified markets due to travel restrictions.

4. Tata Group fared better under Cyrus than Chandrasekaran, Mistrys to SC

Mistrys alleged that the abysmal performance in recent years was due to legacy issues. They said that Tata had earlier sought to exclude the dividend received from the TCS to arrive at an operating profit of Tata Sons in a bid to discredit Mistry's performance.

5. Twitterati demands 'Justice for parotas'; 18% GST vs 5% on rotis tickles funny bone

The ruling came after a Bengaluru-based food manufacturer sought clarity on whether parotas can be categoried in the same classification as khakhara, roti, or plain chapatti, which would mean lower tax.

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