VORTALS immersed in outcomes


Nick Stamatiou and Russell Scott were among a small cohort of businesspeople in Western Australia to back the potential of augmented and virtual reality technology in 2017, the year they founded Cognetic Technologies.…

Govt extends validity of e-way CGST bills till June-end amid Covid outbreak


The government has for the third time extended the validity of e-way bills generated on or before March 24 till June 30.

“Provided that where an e-way bill has been generated under rule 138 of the Central Goods and Services Tax Rules, 2017 on or before the 24th day of March 2020 and whose validity has expired on or after the 20th March 2020, the validity period of such e-way bill shall be deemed to have been extended till the 30th day of June 2020,” the Central Board of Indirect Taxes (CBIC) said in a notification.

had in April extended the validity of e-way bills generated on or before March 24 and having expiry between March 20 and April 15 till April 30.

Last month, it was further extended till May 31.

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In another notification, the has granted time till June 30 for rejecting refunds where the time limit for issuance of the order falls between March 20 and June 29, 2020.

“…In view of the spread of

ZF Friedrichshafen issues draft offer to acquire 25% shares in Wabco India


German company ZF Friedrichshafen AG along with related firms, has issued a draft offer letter for the open offer to acquire a 25 per cent stake in auto component maker Wabco India, by acquiring 4.74 million equity shares from public shareholders. The open offer was triggered after the German company acquired US-based Wabco Holdings, and the offer price is Rs 7,067.51 per offer share, totalling Rs 3351.34 crore.

Both the German company and Wabco US have highly complementary and innovative technology offerings to address future demand for advanced mobility in the area of commercial vehicles. Besides, the merger will strengthen the combined companies’ presence in the emerging markets, which are strategically important in the long run.

The shares of will be acquired by ZF Friedrichshafen, along with Wabco Asia Pvt Ltd, LucasVarity and ZF International UK Ltd. Wabco Holdings Inc and ZF Friedrichshafen AG last month announced that they had received regulatory clearance from Chinese State Administration for the merger.

Wabco India, which is part of Wabco Holdings and a supplier for the commercial vehicle industry, said that all required regulatory approvals had been received and Wabco and ZF were expecting

Olympic Athletes Must Explore ‘Dignified’ Protest: Bach


Olympic chief Thomas Bach on Wednesday refused to be drawn on athletes taking a knee in protest against racism, insisting the body representing them must explore ways they can express themselves “in a dignified way”.

Many sportspeople across the globe have made a kneeling protest to pay homage to George Floyd, a black American killed by a white US policeman in May, in an act described as anti-racist solidarity.

International Olympic Committee rules bar any “demonstration or political, religious or racial propaganda” at the Olympic Games, but the kneeling protest is sure to be a hot issue at the Tokyo Olympics, postponed by 12 months to 2021.

Bach, speaking after a videoconference meeting of the IOC’s executive board, argued that non-discrimination was one of the founding pillars of the Olympic movement.

The German said it was now the turn of the Olympic Athletes’ Commission to draw up a suitable way for athletes to act.

“We have fully supported the initiative of the Olympic Athletes’ Commission to have dialogue with their counterparts, athletes from around the world, to explore different ways on how Olympic athletes can express their support for the principles enshrined in the Olympic charter in a dignified way,”

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