Biztro

Business in bitesizes
Biztro
outlookindia.com
2016-07-02T13:50:24+0530
The guarantor of ­dubious fortunes

The case of Vijay Mallya’s farmer guarantor is getting murkier. According to UP farmer Manmohan Singh—who was named Mallya’s guarantor in December 2015—the Bank of Baroda (BoB) has threatened him with dire consequences if he pursues his defamation case against the bank. In response, Singh has approached the local authorities for protection. Singh had earlier filed a defamation case against BoB and sought Rs 10 lakh in damages for falsely naming him the guarantor for the liquor baron. Although the bank has de-sealed Singh’s ­accounts, his name has not been cleared yet. But, what about Mr Vijay Mallya?

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Mr Bhagat’s tax solutions

The government’s amnesty on black money is generating a lot of noise. While it has been structured in a way to not attract charges of discrimination, the big question is whether it will do any better than last year’s scheme. Meanwhile, at a recent conference of tax officials in Delhi, the government invited fiction writer Chetan Bhagat as one of the speakers. In his address, Bhagat put forth suggestions to improve tax collections. These included prettier stationery for the tax department’s missives and on-the-house treats for honest taxpayers. The officials rolled their eyes in despair and, no wonder, when rated, Bhagat got one out of five from most attendees.

After Rajan, the deluge?

Believe it or not, RBI governor Raghuram Rajan’s exit is being welcomed by some unions. They whisper that the future of two top officials hired by Rajan—Nagpurnanand Prabhala, who heads CAFRAL, and Prachi Mishra, who works with RBI’s research department—is now in doubt. Employees in RBI are wondering if these two officials will follow Rajan out of the RBI, though they have been hired on a permanent basis via the lateral entry route. If so, it would be pitiful. One hopes that better sense will prevail once the name of the new RBI governor is announced.

Mojo

Paid Spoiler Alert!

A new app service, called Spoiled, offers to “ruin Game of Thrones for your friends, automatically”. It sends them Game of Thrones spoilers, anonymously, every week. Now that’s some cause of concern for GoT fans.

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GDP Of Top Indian States

  • Maharashtra 267
  • Tamil Nadu 167
  • Uttar Pradesh 156
  • Gujarat 138
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in billion dollars, 2015

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This week we learnt about Bansal’s new home

News from Bangalore’s fast growing start-up locality, Koramangala, last week had it that Flipkart co-founder and chief executive, Binny Bansal, rec­ently paid a whopping Rs 32 crore for a sprawling 10,000 square feet prope­rty. It’s been a while since a big-ticket residential deal like this has come to be talked about in Bang­alore, say real estate experts. Bansal’s new place is in the vicinity of the flat from which Flipkart started out in 2007. But, more significantly, the flat is close to where many of the IT billionaires like Nandan Nilek­ani put up­. Are these signs that the startup generation has truly arrived?

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