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Biz EOD: Sebi probes Jhujhunwala; exporters' IGST refund blocked; sweet but misleading AI deal

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twitter-logo BusinessToday.In   New Delhi     Last Updated: January 28, 2020  | 21:59 IST
Biz EOD: Sebi probes Jhujhunwala; exporters' IGST refund blocked; sweet but misleading AI deal
Top stories from the world of business and economy.

Securities and Exchange Board of India (SEBI) is probing insider trading charges against billionaire investor Rakesh Jhunjhunwala regarding shares of a family-owned education firm, Aptech Ltd. Central Board of Indirect Taxes and Customs (CBIC) has blocked the Integrated Goods & Service Tax (IGST) refund worth Rs 40,000 crore to around 2,500 exporters. Read for more top stories from the world of business and economy:

1. Sebi summons Rakesh Jhujhunwala over alleged 'insider trading' charges

Sebi is investigating a time period between February 2016 and September 2016, during which the alleged irregular trading was reported in shares of Aptech Ltd with the help of insider information.

2. Air India sale: Deal terms look 'sweet' but is govt misleading buyers?

Govt document mentions transfer of debt worth Rs 23,286.5 crore to new owner will include finance lease obligations, long-term borrowings, short-term borrowings. But if its 33 aircraft are no longer under finance lease, what kinds of debt transfer would that be?

3. Sachin Bansal steps down as Ujjivan Small Finance Bank director; here's why

Sachin Bansal steps down from the Ujjivan Small Finance Bank board as entity owned and controlled by him, Chaitanya India Fin Credit, has applied for a universal banking licence.

4. Maruti Suzuki Q3 profit up 5.1% to Rs 1,564.8 crore

Maruti Suzuki's profit in Q3 rose on account of cost reduction efforts, lower operating expenses, and reduction in the corporate tax rate.

5. Pre-Budget scramble for revenue? Govt blocks IGST refund worth Rs 40,000 crore to exporters

In a circular issued on January 23, CBIC's GST policy wing asked its commissioners to inform all exporters whose scrolls had been kept in abeyance for verification to complete the verification formalities for release of funds.

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