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India’s information and software technology capital will see a slew of non-tech companies hit the capital markets over the next few months, encouraged by the bull run under the Modi government. Tech ventures are unlikely to join in because those who need significant capital are able to raise money in private markets.Bengaluru-based Cafe Coffee Day, HR staffing and consultancy firm Teamlease, Biocon’s clinical research arm Syngene, VRL Logistics, and cancer care specialists HCG, are all in various stages of readying for a possible initial public offer (IPO) beginning next fiscal.

The Foreign Account Tax Compliance Act (Fatca) might be a bigger headache for the Rs 11 lakh-crore-mutual fund (MF) sector than earlier believed. Fatca is an American legislation, under which financial institutions (FI) everywhere in the world are required to register with US tax authorities.

Financial hub status, large pool of talented professionals give Maximum City the edge

Companies Act 2013 (‘the Act’), in terms of Section 129(3), establishes the requirement for consolidated financial statements for Indian companies and provides that where a company has one or more subsidiaries, it shall prepare a consolidated financial statements of the parent company and its subsidiaries, joint ventures and associates.

The government has exempted all companies with a foreign subsidiary from preparing consolidated financial statements ( CFS) for the current fiscal, a move that experts welcomed saying this will give these companies much-needed time for compliance.

While India needs Japan’s varied expertise, Japanese companies are keen on alternatives to China

Welcome to the Winter edition of Grant Thornton’s India Watch, in association with the London Stock Exchange.

In several ways, the Indian real estate sector bid adieu to 2014 on a positive note. The formation of the new government with a strong majority and its first Budget that gave a significant impetus to the sector were the bright spots in 2014. Much progress has been made through several policy reforms as well. SEBI codified REITs norms and the government announced the tax pass through. FDI norms were relaxed for investments in real estate, Real Estate Regulation Bill got its final shape and the land acquisition act received the Presidential assent. “Housing for all” has been adopted as the new mantra and the smart city concept is gaining traction.

New research from the Grant Thornton International Business Report (IBR) reveals that while business confidence in 2014 climbed to levels not seen since before the financial crisis, a recent spate of uncertainty is weighing on growth prospects for the year ahead. With the price of oil plummeting, the future of the eurozone still far from secure, tensions in Ukraine and concern around the pace of the slowdown in China, the confidence of business leaders, especially in the world’s largest three economies, has slipped as we enter 2015.

The Ministry of Corporate Affairs (‘MCA’) has issued a press release announcing the Ind AS roadmap for companies other than insurance, banking, and non-banking finance companies.

Fund infusion into budget airline SpiceJet reportedly also includes an application to the Securities and Exchange Board of India (Sebi) for exemption from an open offer. This is made when an acquirer buys more than a certain percentage stake in a company. The rule is designed to help minority shareholders exit companies in the case of such an acquisition.

Indian businesses have emerged as being the most optimistic about the economy for 2015, with 98 per cent suggesting they are positive about the policies of the new government, way above the global average of 35 per cent, says a report by Grant Thornton.

Online classifieds major Quikr is gearing up to take on e-commerce major players as it plans to launch a service which will let consumers sell their old wares and subsequently buy new products on the site. The Craigslist-like portal, which started off as a listings and used products marketplace, is partnering with a payments firm to build a platform similar to PayPal to facilitate transactions between buyers and small merchants, a senior executive from the company said.

The Ministry of Corporate Affairs (MCA) rang in the New Year by announcing the roadmap for implementation of Indian Accounting Standards (Ind AS). The new accounting framework is closely aligned with the International Financial Reporting Standards (IFRS), as issued by International Accounting Standards Board (IASB). This is aimed at converging India’s accounting standards with the globally accepted framework. This move by the MCA echoes the Finance Minister Arun Jaitley’s budget speech in July 2014, in which he stressed the urgent need to converge the current Indian accounting standards with IFRS.

The corporate affairs ministry is seeking to liberalise managerial remuneration norms in the new Companies Act, a move to allow public limited companies to fix salary and benefits of key executives without the Centre’s prior approval.

TCS Capital and JS Capital invest INR 30 crore, while existing investors Helion Venture Partners and Capricorn Investment put in almost INR 50 crore