Promoters of defaulting companies have had it easy so far, evading personal responsibility. That changes now, and should send chills down the spines of high-flying businessmen.
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Since the revision in GST rates and notices demanding payment of taxes with retrospective effect, the once thriving online gaming sector has been saddled with mounting losses and competition from illegal offshore platforms.
The increasing convergence of sales and service functions, with consequent non-stop pressure to meet targets, has seen employees jump ship in droves. This has the potential to adversely impact the financial institutions’ health.
Temasek is largely considered a sovereign wealth fund because it is set up by the Singapore government and invests in other companies. However, a few factors set it apart from other state investors.