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The Economic Times

Wyndham Hotels & Resorts appoints Shailender Singh as market managing director for Eurasia

Wyndham Hotels & Resorts has appointed Shailender Singh as the market managing director for Eurasia, highlighting plans for expansion. Singh, who has over 20 years of experience in the industry, will oversee the growth of Wyndham's brands across the region, focusing on India’s burgeoning hospitality market driven by increased tourism demand.

Business Standard

Mahindra Holidays gets GST notice of Rs 16.77 cr for excess ITC utilisation

Mahindra Holidays & Resorts India on Wednesday said tax authorities have slapped a demand notice of about Rs 16.77 crore, including a penalty. "We wish to inform you that the company has received an Order dated August 13, 2024, from the Assistant Commissioner, Anna Salai, Chennai Central, Tamil Nadu," Mahindra Holidays & Resorts India Ltd said in a regulatory filing. The company is taking appropriate steps to pursue legal remedies before the appropriate authority in this regard, it added. "The Company has received an Order from the Authority for FY2019-20 requiring the Company to pay a demand of Rs 16,76,61,092 (including a penalty of Rs 88,81,479) under applicable provisions of the TN GST Act, 2017 & CGST Act, 2017. "The Order has been passed primarily on account of GST on Other Incomes, Reverse Charge Mechanism on Other Expenses, Excess utilisation of ITC, Reversal of ITC on exempt supplies, etc.," Mahindra Holidays & Resorts India Ltd said in the filing. The ...

Business Standard

Club Mahindra's Kumbhalgarh, Madikeri, Ooty, and Udaipu resorts receive IGBC Gold Certification

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The Economic Times

UltraTech buys 23% stake in India Cements

UltraTech, the Aditya Birla Group cement maker and the country's largest, bought 70.6 million shares of India Cements as a "non-controlling financial investment" at up to Rs 267 a share, the acquirer said in customary filings Thursday morning. UltraTech bought the shares from billionaire investor Radhakishan Damani, his family members and his investment firms Derive Investments and Derive Trading and Resorts.